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Positive about flying? Airlines look to COVID tests that give results in minutes

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WASHINGTON (Reuters) – The coronavirus crisis is lasting longer than expected and it will take some countries years to return to growth, the No. 2 official at the International Monetary Fund said on Wednesday.

The Fund has provided some $90 billion in total financing to 79 countries, including 20 in Latin America, since the start of the health crisis, an IMF spokeswoman said.

It is continuing to work with member countries on how to contain the pandemic and mitigate its economic impact, First Deputy Managing Director Geoffrey Okamoto told an online event hosted by the Center for Strategic and International Studies.

“We’re trying to preserve our financial firepower,” Okamoto said. “We’re talking about a … return to growth that’s going to take a few years, and many countries along the way that are probably going to need assistance.”

Latin American and Caribbean economies are the hardest hit in the world by the pandemic, reporting around 8.4 million coronavirus cases, and more than 314,000 deaths, both figures being the highest of any region.

Okamoto told the event that Fund officials were in talks with the Group of 20 major economies about extending a temporary halt in official bilateral debt service payments by low-income countries under the Debt Service Suspension Initiative (DSSI), and how to kickstart private sector participation.

The G20 initiative approved in April expires at the end of the year, but experts and government officials in many countries have backed extending it into 2021, with a decision expected in coming weeks and months.

The issue could come up when finance ministers from the Group of Seven advanced economies meet online on Friday. In August, the ministers agreed to consider extending the DSSI.

United Nations officials and others have urged the G20 to expand their efforts to include middle-income countries and island nations hit by the collapse of tourism.

The issue of debt sustainability was “top of mind” for Fund officials, Okamoto said, noting that many countries in Latin America had debt distress before coronavirus, which had exacerbated those pressures.

The DSSI is giving the IMF more time to assess the full debt picture for these countries, he said. “It’s lasting longer than we anticipated, and so that is going to change a bit the dynamics of what we think is sustainable in the long run.”

He said the Fund was continuing to ask rich countries to fund two specific Fund programs that lend to poor countries.

The United States, the largest shareholder in the IMF, has signalled it hopes to contribute, but no funds have been provided for those programs so far.

Reporting and photo: Reuters

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Pulse Hotels & Resorts unveils new residential project: The Coral Residences, Kandima

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Pulse Hotels & Resorts, one of the leading innovators in Maldives tourism, has introduced The Coral Residences, Kandima. Nestled on the northern end of the lush and green three-kilometre-long Kandima Integrated Island Resort in Dhaalu Atoll, this residential development is a first of its kind and promises to redefine luxury living in the Maldives.

Designed and crafted with meticulous attention to detail, The Coral Residences, Kandima, is a unique, integrated beachfront residential community with exceptional 5-star service, situated in the shimmering blue heart of the Maldives.

The Coral Residences comprises of 40 exquisitely designed two bedroom and three bedroom apartments. All apartments feature contemporary design and chic interiors, high-end finishes, state-of-the-art appliances, and unobstructed panoramic sea views across the Indian Ocean. Residence owners will enjoy exclusive access to a host of premium facilities, including a private beachfront pool, a gourmet restaurant and bar, dedicated fitness and recreation facilities and a 24-hour concierge service.

Buyers of The Coral Residences will be able to own their apartments under the new strata title ownership program. Owners’ apartments will be part a rental program, managed by Pulse Hotels & Resorts. Residents will have the access to the full range Kandima’s 5-star resort services, including its restaurants and bars, spa, recreation, and other amenities to complement their lifestyle. With its emphasis on comfort, convenience, and community, this development offers a truly elevated living experience.

“We are thrilled to introduce The Coral Residences, Kandima, to discerning local and international buyers,” said Sanjay Maniku, Managing Director of Pulse Hotels & Resorts. “With its unparalleled design and amenities, homeowners can take advantage of a limitless world of activities and experiences on offer at Kandima. We believe this development will set a new standard for luxury living in the Maldives, as well as bringing a new definition to the Maldives family vacation.”

The Coral Residences is realised by Pulse Hotels & Resorts, the creators behind The Nautilus Maldives, Kandima Maldives, and Nova Maldives. Known for their innovative hospitality concepts, Pulse Hotels & Resorts ensures that each property offers exceptional experiences and world-class service. The development has commenced and is expected to complete within Q3, 2025.

For more information, high-resolution images, and to schedule a private viewing, please contact Aishath Ihuma, Director of Business Development at +960 7788986 or aishath.ihuma@coralresidencesmaldives.com.

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Weixin Pay supported to boost Chinese tourists to Maldives

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On May 27, Zihuny Rasheed, Deputy Managing Director of Maldives Marketing and PR Corporation (MMPRC/Visit Maldives), and Etienne Ng, Weixin Pay’s Country Manager, Singapore and Regional Director, Southeast Asia, WeChat Pay, signed a three-year Memorandum of Understanding (MoU) during ITB China 2024, pledging to support more Maldivian merchants to accept WeixinPay to provide Chinese tourists with a convenient payment experience. Visit Maldives is the Official Destination Partner for this year’s edition of ITB China.

“China is a key source of tourists for the Maldives, and we greatly value the experience of Chinese visitors,” said DMD Zihuny Rasheed. “We plan on promoting the acceptance of Weixin Pay throughout the country, offering Chinese tourists the payment option they are familiar with and prefer. I have used Weixin Pay during my visit to China via linking an international card, and I can attest to the convenience of the mobile payment option.”

Ibrahim Faisal, Minister of Tourism of the Maldives, expressed his support, “Excited that we’re introducing Weixin Pay for Chinese visitors, which is another step in establishing Maldives as their top destination. Now, it’s easier than ever for Chinese travellers to enjoy their stay, hassle-free. We look forward to further enhancing their experience,” he wrote.

According to Etienne Ng, Weixin Pay is currently being piloted at the country’s airport duty-free store, as well as in popular restaurants like Sala Thai and City Garden. Additionally, a range of hotels and resorts are participating including, JEN Maldives Malé by Shangri-La, Adaaran Select HudhuranFushi, Adaaran Club Rannalhi, Adaaran Prestige Vadoo, Adaaran Prestige Water Villas, Velaa Private Island, Cheval Blanc Randheli Private Island, Dhawa Ihuru Maldives, Ayada Maldives, Marriott Bonvoy, Banyan Tree Vabbinfaru, Conrad Maldives Rangali Island and Angsana Velavaru in Maldives with strong support from the Bank of Maldives and local merchants. Making smooth progress, the initiative is expected to have 8,000 merchants nationwide that integrate the payment option.

“Weixin Pay is committed to providing users with safe and convenient payment services. Since the visa exemption policy was implemented, more and more Weixin Pay users have chosen to travel to the island country. Through our cooperation with Visit Maldives, we aim to provide Chinese users with the same convenient experience in the travel as they experience at home,” he said.

In February 2023, an Agreement on Mutual Exemption of Visa Requirements signed between the Maldives and China took effect as China expands its visa-free policy to benefit more countries. Consequently, the Maldives has consistently ranked among the top overseas destinations for Chinese tourists during popular travel periods such as the May Day and National Day holidays.

According to data from Visit Maldives, the country welcomed over 1.8 million tourists in 2023, a new national record. The Chinese market has been a key source market for the Maldives. As of 11th May 2024, it is the number one source market with 91,073 tourist arrivals.

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Indian influencer Niki Mehra in Maldives

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Maldives Marketing and Public Relations Corporation (MMPRC/ Visit Maldives) hosted a familiarisation trip with Amilla Maldives for high-end influencer, Niki Mehra, from India to experience the luxury and romantic offerings of the Maldives from 3rd – 6th May 2024.

The familiarisation trip was a great opportunity to Niki Mehra, a renowned Indian model, fashion, beauty and travel content creator and social media influencer with over half a million followers who has carved a niche in the Indian fashion industry with her unique sense of style. During her time in the Sunny Side of Life, Niki Mehra showcased luxury to romantic experiences of the destination.

The trip promoted Maldives through social media platforms of Niki Mehra while highlighting experiential itinerary offerings of the Maldives. Additionally, the influencer trip assisted MMPRC in propelling growth in the luxury travel segment and honeymoon market by showcasing the Maldives as a premier honeymoon destination for the Indian travellers.

The Indian market has been a strong market for the Maldives over the years, currently ranked number 6 with 46,970 tourists as of 13th May 2024. Additionally, MMPRC showcased the Maldives in OTM and SATTE held earlier this year. MMPRC is committed to boosting the arrivals from the market and has exciting marketing activities planned for future, including joint campaigns, familiarisation trips, participation in major events and other campaigns which provides numerous opportunities to showcase the breathtaking Maldives to the market, attracting more Indian travellers.

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