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GMR MALDIVES
Tourism and hotel sector stocks: Time for a correction in business? Are analysts getting it wrong? 15 stocks from the ecosystemThe Indian hotel and tourism ecosystem has benefitted from the post-Covid travel urge. Occupancies were high, room rates firm, supply is, i...- No taxes payable by GMR on Male airport contract compensation: MaldivesThis announcement brings a major relief to GMR Group as it doesn't need to pay over USD 20 million now.
- GMR says Maldives government, aviation agency liable to pay damagesThe contract was unilaterally terminated by the Maldives government, which initiated arbitration proceedings on November 29, 2012.
- GMR gets clean chit from Maldives probe agency in Male airport case"GMR has invested $240 million in the project so far. GMR has always maintained that there is no corruption involved in the bid."
- GMR to sue Maldives for $800 mn damages due to airport project cancellationGMR says it "feels cheated" for having the contract cancelled over an illegal component present in it, which they were not aware of.
- GMR-Maldives spat: India loses strategic advantage in Indian OceanThe Maldives govt does not have the wherewithal to manage and run this airport. Having done a Dabhol on GMR, they are likely to scare away ...
- Maldives Airport Company Limited takes over airport operations from GMRThe transfer process was very smooth & there would be three-week transition period during which GMR and MACL will work together; Waheed's P...
- Maldives government has authority to take back airport from GMR, rules Singapore Court of AppealMaldives asserted that it will go ahead with the takeover of the Male International Airport from GMR Infrastructure.
- GMR Maldives spat: GMR Infrastructure down after Singapore SC rules in favour of MaldivesShares of GMR Infrastructure fell in the afternoon reacting to the Singapore Court of Appeal's ruling that the Maldives government has the ...
- GMR spat: Maldives ends deal after waiting 45 days for PM Manmohan Singh; wanted to explain why deal was unsustainable“We wanted to explain how ruinous this deal was for Maldives & to seek PM's intervention in perhaps convincing GMR to renegotiate.
- GMR Row: Do not rule out role of foreign hand in Male crisis, says GMR InfraGMR has so far refused to take Maldives' bait of compensation for the cancellation, saying it was in the nation for operating the airport a...
- GMR-Maldives spat: Bilateral relations with Maldives under reviewKhurshid says GMR seems on strong wicket legally and multilateral agencies like International Finance Corporation were involved in original...
- GMR Maldives spat: Industry wants govt to use diplomatic channelIndian industry today asked the government to use its diplomatic channel to convince Male government not to terminate the GMR project.
- Will go ahead with takeover of airport project from GMR: MaldivesMaldives today asserted that it will go ahead with the takeover of the Male International Airport from GMR later this week.
- GMR Maldives spat: GMR to take all 'legal remedies' to protect Male contractStating that GMR Infrastructure has not invested in Maldives "to be compensated", the company has said it will take all "legal remedies" to...
- GMR Maldives spat: Faceoff continues over Male airport, govt rejects Singapore court's orderThe Maldives govt rejects Singapore court's order to suspend termination diktat; says it will operate Male airport from Saturday
- GMR vows to continue court battle after Maldives rejects stayReacting to the Maldives' stand that its decision was "non-reversible", GMR said sovereign guarantee in the contract should be "respected".
- Maldives to take control of GMR airport despite Singapore High Court order: MinisterThe govt's decision is non-reversible and was based on legal advice we got from our lawyers in UK and Singapore, a Maldives official said.
- Government warns Maldives as GMR gets stay order on airport contract terminationThe government warned Maldives that it might freeze $25-million annual aid to the country amid anger over the cancellation of an airport co...
- GMR's Maldives airport project flies into rough weatherThe new government, headed by President Mohamed Waheed, has asked GMR to temporarily halt the development of a new terminal at INIA.
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