After Maldives decision, Israeli Embassy recommends its citizens to explore scenic beaches in India
New Delhi, Jun 3: A day after the Maldivian government decided to ban Israeli passport holders from entering the country amidst the deadly war in Gaza, the Embassy of Israel here on Monday recommended its citizens to explore some of the most scenic beaches in India.
"Since the Maldives is no longer welcoming Israelis, here are some beautiful and amazing Indian beaches where Israeli tourists are warmly welcomed and treated with utmost hospitality. Check out these recommendations from @IsraelinIndia, based on the places visited by our diplomats," the embassy posted on X.
In the bilingual post -- English and Hindi -- it also shared four images of pristine beaches at Lakshadweep, Andaman & Nicobar Islands, Goa and Kerala.
Maldives receives more than one million tourists each year. About 10,966 Israeli tourists visited the Maldives in 2023, while 15,748 Israelis travelled to the country in 2023.
Israel issued a travel warning in December urging its citizens against visiting the Maldives, citing increased anti-Israel sentiment during the war with Hamas.
Israel does not have diplomatic ties with the Muslim-majority nation after they were suspended in 1974.
Israel also has advised its citizens, including those holding an additional foreign passport, to avoid travelling to the Maldives and asked those staying there to leave the Indian Ocean archipelago, a day after the Maldivian government decided to ban Israeli passport holders from entering the country amidst the deadly war in Gaza.
The Israeli Foreign Ministry made the recommendations on Sunday in view of the Maldivian government's decision to make the legal amendments necessary to ban entry into the Maldives on Israeli passports as soon as possible.
The Gaza conflict began on October 7 after Hamas initiated an attack on Israel, killing over 800 and capturing 240 hostages, according to the Israeli authorities.
Since the Maldives is no longer welcoming Israelis, here are some beautiful and amazing Indian beaches where Israeli tourists are warmly welcomed and treated with utmost hospitality. 🏖️🇮🇳
— Israel in India (@IsraelinIndia) June 3, 2024
Check out these recommendations from @IsraelinIndia, based on the places visited by our… pic.twitter.com/kGNEDS6fsp
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Adani touts financial strength, shows can grow without external debt
New Delhi (PTI): Billionaire Gautam Adani's conglomerate on Monday touted its financial and credit details of its portfolio companies to investors, showcasing its robust profits and cash flows that can sustain growth without reliance on external debt.
The ports-to-energy conglomerate, which has been hit by an indictment in a US court against its founder chairman Gautam Adani and two other executives for allegedly bribing Indian official to secure solar power contracts, in a presentation to the investors highlighted its consistently expanding profits and cash flows, which over a period have led to lowering dependence on debt for its growth ambitions.
Equity now accounts for almost two third of its total asset creation, a stark contrast to five years ago. In the last six months, the group has invested close to Rs 75,227 crore, against a total debt increase of only Rs 16,882 crore.
A note was also shared with the investors, along with presentations.
Outlining the group's liquidity position, the note said, "Adani Portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least 12 months. As of September 30, 2024, Adani Portfolio companies had a cash of Rs 53,024 crore, which was close to 21 per cent of its total gross debt outstanding".
This amount, it said, was sufficient to cover the next 28 months of debt servicing requirement.
GROWTH WITHOUT DEBT
In the past, the group has announced plans to invest over Rs 8 lakh crore (USD 100 billion) across portfolio companies in the next ten years.
The Fund Flows from Operations (FFO) or cash profits stood at Rs 58,908 crore for the last twelve months and is growing over 30 per cent for the past five years. On the basis of this, even after assuming no growth, the group will be able to invest Rs 5.9 lakh crore only from its internal cash accruals over the next ten years, leaving very little dependency on external debt.
Further, at the portfolio level, there is very low debt gearing of 2.46x -- which means it has massive headroom for debt, according to the presentation.
Other highlights from the presentation included EBITDA (earnings before interest tax and depreciation) for the last twelve months, which it said is highly stable and hence predictable due to its infrastructure projects, which grew by 17 per cent to Rs 83,440 crore.
Also, existing annual cash flows alone can pay the entire debt in 3 years.
Gross assets/investments increased by Rs 75,227 crore, against total debt increase of only Rs 16,882 crore. Asset base has now increased to Rs 5.5 lakh crore.
Average cost of borrowing at 8.2 per cent, lowest in the last 5 years, due to upgrade in ratings across group companies, it said.
Adani Group's long-term debt from domestic banks was Rs 94,400 crore. This stood against a cash balance of Rs 53,024 crore, most of which was parked with Indian banks.
Borrowings from global banks were 27 per cent of total debt.
