MPL Management Participates in Port Cargo Operations to Understand Workforce Challenges
The management of Maldives Ports Limited (MPL) actively participated in the port’s cargo operations today to better appreciate the hard work of the employees involved in these essential tasks.
MPL CEO Mohamed Wajeeh Ibrahim, along with the heads of all departments, visited the port to engage firsthand in the cargo operations. This initiative aims...
Report: Mitigating Brain Drain, Economic Impacts and Solutions for the Maldives
Brain drain, the emigration of highly skilled professionals, poses significant economic challenges for the Maldives. The departure of doctors, engineers, educators, and other talented individuals undermines the country’s human capital, affecting its development trajectory. The economic consequences of this phenomenon are profound, as it directly impacts the availability of skilled labour essential for national growth and development.
Maldives Reopens Participation for 11th Asian Tourism Fair 2024
The Maldives Marketing and Public Relations Corporation (MMPRC), in collaboration with the National Hotel and Guesthouse Association of Maldives (NHGAM), has reopened participation for the 11th Asian Tourism Fair (ATF) 2024. The event is set to take place in Dhaka, Bangladesh, from 19th to 21st September 2024 at the International Convention City Bashundhara (ICCB).
Govt’s Regulatory Promises Ring Hollow Amid Male’s Growing Parking Crisis
The government has announced plans to regulate the automobile industry to ensure compliance with Maldivian laws and regulations. This move aims to address the pressing issue of vehicle congestion in Male’ City.
Speaking at the launch of the Male’ Fahi Programme, Minister of Transport and Civil Aviation Mohamed Ameen emphasised the need for collaborative...
Maldives Economy Faces Challenges Across Key Sectors in Q2-2024
The Maldives Monetary Authority (MMA) has released its latest Quarterly Business Survey, revealing significant challenges faced by the tourism, construction, wholesale and retail sectors during the second quarter of 2024.
Tourism Sector Takes a Hit
The tourism sector, a vital part of the Maldivian economy, experienced a tough quarter. Revenues...
Mohamed Ali Janah Re-elected as President of MNACI
Mohamed Ali Janah has been re-elected as the President of the Maldives National Association of the Construction Industry (MNACI) for another term. His re-election took place during the association’s annual general meeting held at Meerumaa Hall last night.
The event saw the appointment of 26 members to the executive committee for a two-year term....
Gov’t Publishes List of Companies Failing to Pay Expatriate Worker Fees
The Ministry of Homeland Security and Technology has released a list of companies that have consistently failed to pay expatriate worker-related fees, including work permits and quotas, to the State. The list, published last night, includes over 100 companies that collectively owe more than MVR 100,000 in fines due to unpaid fees.
This disclosure...
MMPRC and MATI Sign MOU to Amplify Maldives’ Destination Marketing Strategy
The Maldives Marketing and Public Relations Corporation (MMPRC) and the Maldives Association of Tourism Industry (MATI) have formalised their partnership by signing a Memorandum of Understanding (MOU) aimed at enhancing and strengthening destination marketing efforts for the Maldives.
The MOU, signed on 24th July 2024, marks a significant step in bolstering the collaboration between...
India Reduces Aid to Maldives Amid Shifting Diplomatic Dynamics
In the Union Budget for 2024-25, India has allocated INR 20.7 billion (USD 247 million) in development aid to Bhutan, marking the largest share of its development aid under the ‘neighbourhood first’ policy. In contrast, the outlay for the Maldives has seen a significant decline, reduced to INR 4 billion (USD 47.8 million) from the previous INR...
Gov’t Proposes Amendment to Employment Act to Protect Expatriate Workers
The Maldivian government has proposed an amendment to the Employment Act aimed at safeguarding the rights of expatriate workers. The amendment includes provisions to impose a fine of MVR 50,000 on employers who are negligent towards expatriate workers and outlines specific instances of such negligence.
According to the proposed amendment, if an employer neglects...
E-Commerce Ambitions Undermined by Regulatory Failures in Maldives
The Maldivian government’s recent meetings with U.S. officials, including the U.S. Ambassador, illustrates a troubling pattern of acknowledging what needs to be done to integrate with global e-commerce platforms yet failing to implement necessary reforms. Minister of Economic Development and Trade Mohamed Saeed’s discussions following the Trade and Investment Framework Agreement (TIFA) talks reveal a disheartening reality:...
Gov’t Seeks Investors for Solar Energy Projects on Thirteen Islands
The Ministry of Climate Change, Environment, and Energy has announced an invitation for investors to establish solar energy systems across thirteen islands. The ministry is seeking investors to install 15 megawatts of solar panels and provide electricity services through a design, build, finance, own, operate, and transfer policy.
The project, part of the Accelerating...
Senior Economist Urges Temporary Suspension of Key Pensions to Secure Financial Stability in Maldives
Senior Economist at the World Bank, Robert Palacios, has recommended a temporary halt to pension schemes for the Maldives National Defence Force (MNDF), police, judiciary, and other independent agencies to ensure the financial sustainability of the country’s pension system. Speaking at the Maldives Finance Forum, organised by the Pension Administrations Office in Kurumba Maldives, Palacios highlighted the...
Aasandha’s New Medication Policy to Save Maldives MVR 300 Million Annually
Aasandha has announced that the bulk purchasing of European quality medications is expected to save the country MVR 300 million annually in medical expenses. This initiative follows an agreement with the United Nations Development Programme (UNDP) for the procurement of high-quality medicines, with the first shipment already received by State Trading Organization (STO).
The...
Ooredoo Maldives Launches Inaugural Inter-Office Esports Tournament
Ooredoo Maldives has announced the launch of the Ooredoo Nation Inter-Office Tournament, an innovative esports competition designed to bring together teams from various offices across the Maldives. Participants will compete in three popular games: FC24, Mobile Legends: Bang Bang (MLBB), and PUBG Mobile.
The tournament aims to promote digital engagement and foster a sense...
Maldives Strengthens Infrastructure Collaboration with China
The Minister of Foreign Affairs, Moosa Zameer, held a productive meeting with Luo Zhaohui, Chairman of the China International Development Cooperation Agency (CIDCA), during his official visit to China. The discussions centred on bolstering collaboration in key infrastructure projects crucial for the sustainable development of the Maldives.
Minister Zameer underscored the importance of the...
SIMDI Resu Showroom to Launch Exclusive Sale on Electrolux Refrigerators and Ovens
SIMDI Resu Showroom has announced an exclusive sale event featuring top-of-the-line Electrolux refrigerators and ovens.
The sale will run from 24th July to 24th September and offers discounts of up to 20% on select Electrolux products. This two-month event provides homeowners and culinary enthusiasts with an ideal opportunity to upgrade their kitchen appliances. Electrolux...
Gov’t to Roll Out European-Approved Medications to Ensure High Quality
The Maldives has initiated a programme to enhance the availability of high-quality medications by introducing drugs approved by European health authorities. This step is part of a broader strategy to improve the nation’s healthcare standards and address issues related to medication quality and availability.
A joint statement from the Health Ministry, Finance Ministry, National...
Maldives Pursues Economic Financing with Exim Bank of China Amid Strategic Talks
The Maldives is actively pursuing financing for critical economic projects through high-level discussions with the Export-Import Bank of China (Exim Bank). These discussions form a key part of Minister of Foreign Affairs Moosa Zameer’s ongoing visit to China, marking a crucial step in the Maldives’ strategy to bolster economic ties with Beijing.
During his...
Munawar Nominated to Lead Central Bank
Ahmed Munawar, a seasoned financial expert with a history at the Maldives Monetary Authority (MMA) and a stint as Finance Minister, has been put forward by President Dr Mohamed Muizzu to become the central bank's new Governor. This nomination comes in the wake of the Maldives Parliament approving the removal of the previous Governor, Ali Hashim, following President Muizzu's request for...
MPL Issues First Disbursement from Inaugural Bond Offering
Maldives Ports Limited (MPL) has successfully completed the first coupon payment for its inaugural bond issuance, marking a significant milestone in the company’s financial initiatives. The bond, issued on April 11, 2023, amounted to MVR 50 million and offers investors an attractive annual return of 7%.
The bond issuance received an overwhelming response from...
Air Arabia Expands Global Network with New Maldives Route
Air Arabia, the Middle East and North Africa’s leading low-cost carrier has announced the launch of its non-stop flights between Sharjah and the Maldives, starting October 27, 2024. This new route will provide travellers with a daily connection between Sharjah International Airport and Velana International Airport in Malé, offering more convenient and affordable travel options to one...
Maldives Faces Import Delays Amid International Shipping Disruptions
The importation of goods into the Maldives has been severely impacted by disruptions in international cargo shipping, causing significant delays for local businesses and shipping agents. The delays stem from a combination of hold-ups at Sri Lanka’s Colombo port and damage to two cargo vessels, according to reports from local media.
Goods intended for...
Dhiraagu and Sparkhub Successfully Conclude Lean Startup Maldives 2024 – Addu Edition
Dhiraagu and Sparkhub have announced the successful conclusion of the Lean Startup Maldives 2024 - Addu Edition, marking a significant milestone as the event was held for the first time in Addu City. The programme, which ran from 19-21 July 2024, attracted 50 enthusiastic participants eager to embrace lean principles and foster innovation and entrepreneurial growth within...
LATEST ARTICLES
MPL Management Participates in Port Cargo Operations to Understand Workforce Challenges
The management of Maldives Ports Limited (MPL) actively participated in the port’s cargo operations today to better appreciate the hard work of...
Report: Mitigating Brain Drain, Economic Impacts and Solutions for the Maldives
Brain drain, the emigration of highly skilled professionals, poses significant economic challenges for the Maldives. The departure of doctors, engineers, educators, and...
Maldives Reopens Participation for 11th Asian Tourism Fair 2024
The Maldives Marketing and Public Relations Corporation (MMPRC), in collaboration with the National Hotel and Guesthouse Association of Maldives (NHGAM), has reopened...
Govt’s Regulatory Promises Ring Hollow Amid Male’s Growing Parking Crisis
The government has announced plans to regulate the automobile industry to ensure compliance with Maldivian laws and regulations. This move aims to...
Maldives Economy Faces Challenges Across Key Sectors in Q2-2024
The Maldives Monetary Authority (MMA) has released its latest Quarterly Business Survey, revealing significant challenges faced by the tourism, construction, wholesale and...
