Business
As pandemic rages on, world economic recovery looks ever more shaky: Reuters poll
BENGALURU (Reuters) – The world economic outlook has dimmed again, with still-rising coronavirus infections and the risk of renewed lockdowns increasing the chances that any rebound will reverse course, according to Reuters polls of over 500 economists globally.
Over 17 million people have been infected worldwide by the coronavirus and more than two-thirds of a million people have died. That has forced governments to impose strict lockdown measures to curb the spread of the virus, keeping citizens at home and businesses closed and spurring recessions that aren’t over yet.
Surging cases in the United States, where related deaths have surpassed 150,000, have led several states to reimpose restrictions. Most economists, long-term investors and even Fed Chair Jerome Powell have clearly said the economic outlook depends significantly on the course of the virus.
The Fed has pledged endless stimulus to support the world’s No. 1 economy, which was a major growth engine for the global economy before the pandemic and now risks being the biggest drag, sending the dollar to a two-year low.
With infections also on the rise elsewhere, including in Australia, India, Spain, and Brazil, economists again cut this year’s economic prospects in the July 3-29 polls which show the worst contraction on record for the world economy in 2020.
“We expect the economic reality of the virus to start catching up with businesses across the globe soon,” said Jan Lambregts, global head financial markets research at Rabobank.
“What we need is a vaccine or significant breakthroughs in medicines to decisively reopen our economies and restore business and consumer confidence – but there is no magic wand for the time being.”
Reuters polls since the start of the pandemic follow a pattern: repeated downgrades to the near-term outlook, with economists shifting an expected recovery in the second half of the year to 2021, flattening out an initial V-shaped assumption.
The global economy was expected to shrink 4.0% this year, or by about $3.4 trillion, roughly equivalent to wiping out the economies of Canada and Australia entirely. That is down from -3.7% predicted in June, the sixth consecutive downgrade to forecasts from 3.1% growth forecast in January.

The world economy is expected to grow 5.3% next year, slightly less than the 5.4% predicted last month. But those expectations are based on the disease being contained, with widespread hopes of a vaccine sometime soon.
But under a worst-case scenario, it will contract 6.5% this year, much worse than the International Monetary Fund’s -4.9% projection, then grow just 2.0% next year.
“Over six months into the crisis, evidence is mounting that the global economy is likely to look lastingly different due to the pandemic,” noted Christian Keller, head of economics research at Barclays.
“Changes have been obvious in the attitude towards monetary and fiscal policy, but they also extend to global trade, supply chains, international travel and geopolitics.”
The economic outlook for the U.S., Canada, Britain, Japan and Australia was downgraded and expectations for 2021 growth are modest given the historic downturn expected this year.
Of all of the major economies, the proportion of forecasters who said the U.S. outlook had improved in the last month was, by far, the smallest.
For the euro zone, the outlook for next year onward got a slight boost after the European Union leaders agreed on a stimulus package of 750 billion euros.
Latin America are mostly still struggling, suffering historic recessions and either facing resurgent infections or still not getting the first round under control.
China, where the virus is thought to have originated, was expected to recover faster economically than others, even though it still relies heavily on exporting to the rest of the world.
Asked how the recovery outlook had changed over the past month, three-quarters of economists, or 183 of 244, said it had either stayed the same or worsened.
Just over half, 75 of 149, who responded to another question said it would take two or more years for GDP in the economies they cover to reach pre-COVID-19 levels. Sixty expected it would take at least a year or two and the remaining 14 said less than a year.
“Our forecasts point to a world which, by end-2021, has a level of activity that is not just well below its pre-pandemic growth trajectory but, in many cases, still below its end-2019 level,” noted HSBC’s global chief economist Janet Henry.
Reporting and photo: Reuters
Business
Football legends receive FIFA World Cup 2026 match balls signed by President Muizzu
Male’ Aerated Water Company (MAWC), the authorised bottler of The Coca-Cola Company in the Maldives, on Thursday hosted the Official FIFA World Cup 2026™ Match Ball Handover Ceremony, presenting Football Legends of Maldives with official FIFA World Cup 2026™ match balls signed personally by Dr Mohamed Muizzu, President of Maldives.
Held in partnership with the Ministry of Youth Empowerment, Sports and Fitness, the ceremony recognised former national footballers whose achievements, service and influence have helped shape football in the Maldives and inspired generations of players and supporters.
The Coca-Cola Company has been an official partner of FIFA since 1974, making it one of the longest-standing partnerships in the global sport. For MAWC, the handover brought that global partnership to life locally by connecting the FIFA World Cup with people who have contributed to Maldivian football history.
As the sole authorised Coca-Cola bottler in the Maldives for over 35 years, MAWC has supported local sport through partnerships, campaigns and community initiatives. The ceremony continued that commitment by recognising the legacy of players who represented the Maldives and contributed to the growth of football in the country.
“Maldives’ football legends have given generations of supporters moments of pride and have played an important role in shaping the country’s sporting history. At MAWC, we believe recognising their contribution is as important as supporting the next generation. Through our partnership with Coca-Cola and FIFA, and in collaboration with the Ministry of Youth Empowerment, Sports and Fitness, we are honoured to celebrate their legacy. These match balls are a token of our appreciation for what they have given to Maldivian football,” said Milind Derasari, Chief Operating Officer, MAWC.
Adding to the excitement of the football season, MAWC ran a nationwide FIFA World Cup 2026™ consumer promotion from 21 March to 24 May 2026. Eight winners received an all-expenses-paid experience for two to attend a FIFA World Cup 2026™ match. Hundreds more won Coca-Cola branded merchandise and other prizes during the campaign, bringing the excitement of the world’s largest football tournament to consumers across the Maldives.
MAWC remains committed to building partnerships that support the development of sports across the Maldives, working with the Government of Maldives and other partners.
Business
Coca-Cola Maldives launches World Cup-themed promotion
Coca-Cola Maldives is turning up the excitement with the launch of its 2026 football campaign, bringing fans across the country a season packed with prizes, shared moments and exciting ways to celebrate the game together.
As the build-up to the FIFA World Cup 2026 begins, Coca-Cola Maldives is inviting consumers to join in the fun with a campaign built around everything that makes football special: the anticipation, the matchday thrill, the watch parties, the celebrations and the memories made along the way.
From March to May, consumers in the Maldives will have the chance to take part in the Coca-Cola Maldives FIFA World Cup 2026 promotion, with weekly prizes, branded merchandise and a grand prize experience linked to one of the biggest sporting events in the world.
As part of the campaign, Coca-Cola Maldives is rolling out the UTC Promo from March 21 to May 24, giving consumers even more ways to be part of the football excitement. Special promotional packs will feature a unique code either under the cap or under the tab, depending on the product format. For 500ml, 1.25L and 2L PET bottles, codes will appear under the special Golden Caps on Coca-Cola, Sprite, Fanta Orange and Fanta Strawberry. For 330ml cans, codes will appear under the tab on Coca-Cola. Consumers can enter by sending the code via SMS to 2626 for the chance to win a range of prizes throughout the campaign period.
The promotion will run across 330ml cans as well as 500ml, 1.25L and 2L PET bottles, making it easy for consumers to join in whether they are picking up a drink for themselves, sharing with friends, or stocking up for a matchday gathering. With multiple participating brands and pack formats included in the promotion, Coca-Cola Maldives is creating more opportunities for consumers across the country to take part in the campaign and enjoy the football season together.
At the top tier, eight winners will receive an all-expenses-paid experience for two to watch a FIFA World Cup match live, creating a once-in-a-lifetime football moment. Under Tier 2, 60 winners will receive Coca-Cola branded mini-coolers, while 120 winners will take home Coca-Cola branded football-shaped personal coolers. Under Tier 3, 180 winners will receive Coke and FIFA branded footballs, adding even more play and energy to the season.
Adding a live moment to the excitement, the first set of winners will be announced on ICE TV on April 6 at 9pm, with winner announcements continuing every week throughout the promotion. This weekly reveal is set to bring an added sense of anticipation and shared excitement as the campaign unfolds across the Maldives.
The campaign is designed to bring fans closer to the game and make every football moment even more enjoyable. Whether it is watching a match with family at home, catching the action with friends at a café, or picking up a favourite Coca-Cola pack from a neighbourhood store, Coca-Cola Maldives aims to be part of the moments that make football season unforgettable.
“Football has a way of bringing people together like nothing else, and that is what inspired this campaign,” said Mario Perera, Country Head for Sri Lanka and the Maldives. “In the Maldives, the game is enjoyed in such a lively and social way, and Coca-Cola Maldives wanted to create a campaign that feels fun, relevant and easy for people to be part of. It is about celebrating the season, enjoying the experience with others, and giving fans something extra to look forward to.”
Adding to the excitement, Coca-Cola Maldives will also launch collectible country packs in the Maldives from May to July, giving fans the chance to celebrate the global game in a new way. Inspired by some of football’s most recognised nations, these limited-edition packs will bring a colourful and collectible twist to the season.
Across the Maldives, Coca-Cola Maldives will work with retail partners to bring the campaign to life through in-store visibility, promotional touchpoints and selected local activations that capture the spirit of football and community.
“The Maldives is a unique market, and Coca-Cola Maldives wanted this campaign to connect with the way people here enjoy football, together, with energy, and with a real sense of occasion. Coca-Cola Maldives is excited to bring that spirit to life in the months ahead,” added Mario Perera.
This marks the start of Coca-Cola Maldives’ 2026 journey in the market. With more fan moments, more excitement and more ways to join in still to come, Coca-Cola Maldives is looking forward to celebrating the football season with consumers across the country.
Business
BBM renews as Title Partner of Hotelier Maldives Awards under multi-year agreement
Hotelier Maldives has announced Bestbuy Maldives (BBM) as the Title Partner of Hotelier Maldives Awards 2026 under a multi-year agreement, reaffirming one of the longest-standing partnerships behind the publication’s flagship hospitality recognition platform.
The 2026 edition marks the third consecutive year that BBM has served as Title Partner of Hotelier Maldives Awards, having supported the event in the same capacity since its launch in 2024. BBM has also backed Hotelier Maldives’ second flagship event, GM Forum, every year since 2023, with 2026 set to mark its fourth year as a Silver Partner of the forum.
The continued partnership reflects a shared commitment to recognising the people behind the Maldives’ tourism industry while supporting platforms that encourage industry dialogue, leadership and professional development.
Hotelier Maldives Awards 2026 entered its public voting phase on 15 March 2026, with voting set to remain open for one month. Winners will be announced at the gala ceremony on 26 April 2026 at NIVA Kurumba Maldives.
Commenting on the partnership, Ali Naafiz, Editor of Hotelier Maldives, said: “BBM has been a valued partner of Hotelier Maldives Awards since the very beginning, and we are pleased to formalise this continued support through a multi-year agreement. Their decision to return as Title Partner for a third consecutive year reflects not only the strength of our relationship, but also a shared belief in the importance of recognising the people who drive excellence across the Maldives’ hospitality industry.
“BBM has also consistently supported GM Forum over the years, making them one of the most committed partners across our event platforms. We are proud to continue working together as we strengthen both Hotelier Maldives Awards and GM Forum as annual fixtures for the industry.”
AVS Subrahmanyam, Chief Operating Officer of BBM, said: “At BBM, we have always believed that a strong hospitality industry is built by strong people, and Hotelier Maldives Awards provides an important national platform to recognise the professionals whose work often takes place behind the scenes. We are pleased to continue as Title Partner of the awards under this multi-year agreement, while also extending our support to GM Forum for a fourth consecutive year.
“As a company that has grown alongside the Maldives’ hospitality sector, we value opportunities that celebrate talent, encourage professional pride and contribute to the long-term development of the industry. Our continued partnership with Hotelier Maldives reflects that commitment.”
Bestbuy Maldives is one of the country’s leading importers and distributors, serving the hospitality, HORECA and retail sectors with a broad portfolio of international brands. The company positions itself as a partner to the Maldivian hospitality industry, supplying products from around the world across key business verticals including resorts, foodservice and retail.
Hotelier Maldives Awards continues to recognise the contributions of resort-based hospitality professionals across the Maldives, highlighting both individual excellence and team performance. The awards programme remains the country’s only dedicated recognition platform focused on professionals working in resort operations. The current public voting round allows industry stakeholders, colleagues, guests and the wider public to take part in selecting this year’s winners.
The growing list of confirmed partners for Hotelier Maldives Awards 2026 includes Bestbuy Maldives (BBM) as Title Partner, Dhiraagu as Platinum Partner, Storm Events as Organising Partner, NIVA, Kurumba Maldives as Host Partner, Souvenir Marine as Transport Partner, ALIA as Associate Sponsor, and Lightsout Studios as Associate Partner. More partners and sponsors will be announced soon.
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