Maldives issues notice to GMR for terminating airport contract

November 27, 2012 19:42

Maldives today said its cabinet has recommended termination of a contract given to the GMR Group for developing Male Airport, a project awarded to the Indian group during the previous regime of the island nation.

The Maldives cabinet, in a meeting today, decided to terminate the contract and a notice to this effect was issued to GMR Group, Maldivian President's Press Secretary Masood Imad said in a statement.

The US$ 500-million project was hanging in the balance ever since the regime change in Maldives earlier this year.

The GMR group had won the contract during the regime of former president Mohamed Nasheed.

« Back to LIVE

TOP STORIES

Fear In Alwar: BJP Will Change Constitution

In India elections are never fought in a straight line. It's fought on many issues, at many levels, with multiple emotions and with a bit of good luck, too. Sheela Bhatt reports from Rajasthan.

Mumbai Indians skipper Hardik Pandya handed hefty fine

Mumbai Indians skipper Hardik Pandya has been fined Rs 12 lakhs for his team maintaining a slow over rate during their thrilling nine-run victory over Punjab Kings in the Indian Premier League.

Voting underway in 21 states in Phase 1 of Lok Sabha polls

Polling for assembly elections in the north-eastern states of Arunachal Pradesh and Sikkim also started along with voting for the first phase of Lok Sabha elections on Friday morning.

Looking For Long-Term Investment?

This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.

Israel strikes back at Iran, blasts reported in Isfahan region

Israel launched missile strikes against Tehran during early hours on Friday (local time), ABC News reported citing a senior United States official.