Business
Tax cuts, reduced unemployment benefits: What’s in Trump’s coronavirus executive orders
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(Reuters) – After failing to reach a deal with the U.S. Congress for a fresh round of coronavirus pandemic relief, President Donald Trump signed a series of executive orders aimed at pumping up America’s pandemic-hit economy.
The orders are likely to face some legal challenges.
Unemployment relief
Trump’s order cuts enhanced federal unemployment benefits – a lifeline for the tens of millions of Americans thrown out of work during the pandemic – from $600 to $400 per week. Democrats had been lobbying to extend the original $600 a week enhanced benefits, which expired on July 31.
Trump proposes taking most of the money from the coffers of the Federal Emergency Management Agency – $44 billion, according to the order – with 25% of the money coming from states.
It’s not clear how Trump will convince state governments, whose revenues have been hard hit by the crisis, to pony up their proposed share.
Trump called the reduced payments “generous.”
Payroll tax cut
Trump’s first order waives the payroll tax that funds Social Security in a bid to inject extra money directly into salaried employees’ pockets. Trump has been pushing the idea for a while but it has found little support in Congress from Democrats or his fellow Republicans.
The executive order says the cut comes into effect on Sept. 1, but Trump said it “most likely” would be retroactive to Aug. 1 and translate into “bigger paychecks for working families.”
Evictions
Trump’s order protecting homeowners and renters from evictions is unlikely to face a challenge from Democrats; indeed, House of Representatives Speaker Nancy Pelosi this week encouraged the move. But it isn’t clear how it will be executed.
The order directs authorities to provide “temporary financial assistance” to renters and homeowners “struggling to meet their monthly rental or mortgage obligations.”
Even Trump seemed a little hazy on the order’s ultimate effects, saying “we don’t want people being evicted and the act that I am signing will solve that problem – largely, hopefully, completely.”
Student loans
Trump said that interest on student loan payments – frozen since March – would be suspended until the end of the year.
Reporting and photo: Reuters
Business
Maldives celebrates arrival of 2024’s 1 millionth tourist
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Maldives on Thursday welcomed the one millionth tourist to visit this year.
The one millionth tourist is a Thai named Sutapa Amonwivat, who arrived from Singapore with her husband and two children. This is her second visit to Maldives.
Maldives Marketing and Public Relations Corporation (MMPRC) and the Ministry of Tourism gave a warm welcome to Sutapa at the Velana International Airport (VIA) Thursday afternoon. She was welcomed at the VIA by tourism minister Ibrahim Faisal, MMPRC Managing Director Ibrahim Shiury and senior officials of various relevant agencies.
After welcoming her with traditional offerings, she was presented with various gifts by the ministry, MMPRC, customs, immigration, Maldives Association of Travel Agents and Tour Operators (MATATO) and Trans Maldivian Airways (TMA).
Maldives reached one million tourists in June, three weeks earlier than last year. The number of tourists reached one million on July 16, 2023.
Maldives expects to reach 2 million tourists this year.
Business
New air route connects Chongqing to Maldives
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Chongqing Airlines on Monday began its inaugural flights to Maldives.
The Chongqing-Male route, scheduled three times a week, is expected to strengthen the bonds between China and the Maldives, opening up exciting new opportunities for tourism and cultural exchange.
The inaugural flight was welcomed upon its arrival at Velana International Airport (VIA) in Maldives, where local officials and tourism representatives expressed their enthusiasm for this new development.
“We warmly welcome our friends from China to our beautiful islands. This new connection strengthens our bonds and opens up new opportunities for tourism,” the tourism ministry said on X.
Maldives currently welcomes four airlines from China, including China Eastern, Beijing Capital Airlines, Xiamen Airlines.
In January, Maldives government urged tourism stakeholders in both Maldives and China to ramp up efforts to restore China’s position as the primary source market for Maldives tourism, a status held before the onset of Covid-19.
China, being the largest source market for Maldives tourism before the pandemic, saw a resumption of tourist arrivals from January 2023 after a three-year hiatus due to the pandemic. In 2023, the Maldives welcomed 187,118 Chinese tourists, marking a significant recovery in numbers. This year, the Maldives has welcomed the most number of tourists from China, with over 107,940 or 11.5 percent of total arrivals by June 12.
Business
CROSSROADS Maldives Introduces Weixin Pay at resorts for seamless guest experience
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CROSSROADS Maldives has introduced WeChat Pay, widely known as Weixin Pay in China, across its world-class resorts, SAii Lagoon Maldives, Curio Collection by Hilton, and Hard Rock Hotel Maldives. This payment option is made available to enhance the convenience and overall experience for guests from China, making their stay in the Maldives more enjoyable and hassle-free.
Understanding the needs of the diverse guests, CROSSROADS Maldives has integrated WeChat Pay into operations, allowing guests from China to easily and securely conduct transactions using a payment method familiar to them. The introduction of WeChat Pay is a testament to CROSSROADS Maldives’ dedication to enhancing guest satisfaction by offering exceptional experiences at every turn. What is also expected through this initiative is that the guests could benefit from better foreign exchange rates, translating to better savings on their expenditures during their stay.
The option is available for guests in-house conveniently at both resorts as well as across the Marina at CROSSROADS Maldives where a wider variety of unparalleled dining and retail experiences are available for all guests. The day visitors from China will also therefore equally benefit from this new introduction at the Maldives’ premier multi-island integrated leisure destination.
SAii Lagoon Maldives, Curio Collection by Hilton, is a vibrant tropical escape that offers unique and locally inspired experiences. The resort features spacious rooms and villas, a variety of dining options, and an array of recreational activities designed to cater to the desires of modern travellers. Guests can escape to the island’s SAiisational natural beauty, enjoy water sports, and indulge in spa treatments, all while relishing the personalised service that defines Hilton’s Curio Collection.
Hard Rock Hotel Maldives brings the iconic Hard Rock spirit to the tranquil shores of the Maldives. This family-friendly resort offers a perfect blend of relaxation and entertainment, featuring music-inspired experiences, live performances, and the brand’s signature amenities. With luxurious accommodations, diverse dining options, and a plethora of activities for all ages, Hard Rock Hotel Maldives ensures an unforgettable holiday experience for every guest.
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