Report: The Costly Economics of Parliamentary Elections in Maldives
As the fervour of the parliamentary campaign reaches its zenith in the Maldives, a glaring reality emerges from the shadows - the pervasive influence of money in politics. Candidates are purportedly spending exorbitant sums to secure victory, raising questions about the source and impact of such expenditures on the country's economy.
The Economics...
Deadline Extended: Industry Partners Encouraged to Join ITB China 2024
The Maldives Marketing & Public Relations Corporation (MMPRC), also known as Visit Maldives, has extended the deadline for Maldivian tourism businesses to participate in the upcoming ITB China 2024 trade fair. The original deadline has been pushed back to Thursday, 25th April 2024 at 1:00 PM, providing a further opportunity for industry partners to secure their spot...
Chinese Company Contracted to Address Power Shortages in Addu City
Fenaka Corporation Limited has signed an agreement with Chinese company DEC Dongfeng Electric Machinery Co., Ltd. The contract aims to establish a new power plant in Addu City to significantly increase electricity generation capacity.
Managing Director of Fenaka Corporation Limited, Muaz Mohamed Rasheed, signed the agreement with Dongfeng's Vice President during a ceremony at...
Gov’t Seeks Funding with MVR 2.6 Billion in T-Bills
In a move to secure funding for government expenditure, the Ministry of Finance has announced the sale of T-bills worth MVR 2.6 billion. The short-term securities offer a mix of repayment periods and interest rates.
The T-bill offering includes:
MVR 620 million with a 27-day repayment period
Commercial Block “B” Unit Available for Café/Restaurant and HDC Staff Canteen
A unique commercial opportunity has arisen, as a call for proposals has been issued for the lease of a unit within Commercial Block "B". The chosen developer will have the chance to design and operate both a café/restaurant and staff canteen for the Housing Development Corporation Ltd. (HDC).
The designated unit, comprising PC02-G-01 &...
Maldives Calls for Urgent Action on Debt Crisis in Small Island States
Maldivian Ambassador Aliny Mohamed has highlighted the urgency of addressing the debt crisis facing Small Island Developing States (SIDS) during a panel discussion titled 'Debt Crisis in SIDS: A Call for Rapid Concerted Action as we look towards #SIDS4'. The panel took place as part of the upcoming fourth International Conference on Small Island Developing States (SIDS4)...
Coral Bleaching Imperils Maldives’ Economy: Tourism and Livelihoods at Risk
Coral reefs, often referred to as the "rainforests of the sea," are the vibrant and diverse heart of the Maldives' marine ecosystem. But these spectacular underwater structures are facing an unprecedented threat – coral bleaching. This phenomenon, triggered by rising sea temperatures as a result of climate change, is wreaking havoc on the delicate coral systems, with...
Tourism Minister Urges Debt Relief for Vulnerable Small Island Economies
Ibrahim Faisal, the Minister of Tourism, has highlighted the pressing need for debt relief measures to stave off economic deterioration among Small Island Developing States (SIDS). Speaking at the United Nations High-level Thematic Debate on Debt Sustainability and Socio-Economic Equality for All, Minister Faisal underscored the acute vulnerabilities faced by SIDS due to external shocks to their...
India Imposes Port Restrictions on Essential Exports to the Maldives
The Indian government has tightened export regulations for essential commodities bound for the Maldives. The Directorate General of Foreign Trade (DGFT) issued a notification outlining port restrictions for the export of items designated as prohibited or restricted.
Under the new policy, essential exports to the Maldives will only be permitted through four designated customs...
Monthly Revenue Collection Hits MVR 2.94 Billion in March 2024
According to the statistics revealed by the Maldives Inland Revenue Authority (MIRA), a total of MVR 2.94 billion was collected in for March 2024, with a total of gathered, marking a substantial increase of 34.4% compared to the same period last year.
This surge in revenue is attributed to several key factors, including a...
Marriott Seeks Hospitality Talent in the Maldives
Marriott International Maldives has expanded its commitment to cultivating local hospitality talent with the announcement of recruitment open days for the second cohort of its successful Marriott International Maldives Apprenticeship Program. Following the positive response to the program's inaugural year, Marriott seeks to inspire and train the next generation of Maldivian hospitality professionals.
The...
SriLankan Airlines Appoints New Regional Manager for India, Bangladesh, and Nepal
SriLankan Airlines has appointed industry veteran Fawzan Fareid as its new Regional Manager, overseeing operations in India, Bangladesh, and Nepal. With this appointment, the airline seeks to bolster its position and expand its reach within these key markets.
Fareid possesses a rich background within the aviation industry, having served Sri Lanka's national carrier for...
Gulhi Falhu Land Reclamation Project Completed Amidst Ongoing Legal Dispute
The Gulhi Falhu project, a significant land reclamation initiative launched during the administration of former President Ibrahim Mohamed Solih, has now reached completion. The Ministry of Construction and Infrastructure confirmed on Monday, 15th April that the dredging and reclamation of 150 hectares of land at Gulhi Falhu has been finalized.
The project, which aimed...
Dhiraagu’s 35th Annual General Meeting to be Held on 28th April
Dhiraagu has announced the date and format for its 35th Annual General Meeting (AGM). The AGM will take place on Sunday, 28th April 2024 at 8:15 PM, with a hybrid model allowing shareholders to attend either in person or online.
Shareholders wishing to attend are required to pre-register between the 4th and 27th of...
Dr Mariyam Shakeela | CEO of SIMDI Group
Dr. Mariyam Shakeela is a successful entrepreneur and a powerful voice for women's empowerment in the Maldives. Her leadership has been instrumental in shaping the SIMDI Group into the diverse conglomerate it is today. In this interview, Dr. Shakeela shares her strategies for aligning SIMDI's various divisions towards a common vision. She offers valuable insights on gender...
Hanimaadhoo International Airport Reopens to International Flights
Hanimaadhoo International Airport in the Maldives has officially resumed international flight services after a year-long pause. The hiatus was put in place to facilitate the completion of a major airport development project, which necessitated alterations to the airport's operating hours.
The airport, operated by the Regional Airports Company (RACL), will now accommodate two international...
Finance Minister Announces Expenditure Reduction Measures Starting Next Month
In an exclusive interview with local media outlet "Mihaaru," Finance Minister Dr Mohamed Shafeeq outlined plans to reduce government expenditure starting in May. The Minister emphasized reforms aimed at strengthening government-owned companies alongside changes to the national health insurance scheme, Aasandha.
Dr Shafeeq stated that necessary studies have been completed and measures identified to...
BCC, WIPO to Hold Online Forum Empowering Creative Industries
Business Center Corporation (BCC) has unveiled plans to host an online forum organised by the World Intellectual Property Organization (WIPO), tailored for professionals in creative industries.
Scheduled to coincide with World Intellectual Property Day 2024, the forum is set to take place on April 25, 2024, running from 14:30hrs to 17:00hrs GMT.
Hankede Integrated Tourism Project Breaks Ground in Addu City
The long-awaited Hankede Integrated Tourism Development Project officially broke ground on Monday evening in Addu City. The ceremony was officiated by Minister of Homeland Security and Technology Ali Ihusaan, Managing Director of the Maldives Fund Management Corporation (MFMC) Ahmed Nazim Aboobakur, and a representative from the project's contractor, China National Electric Engineering Company (CNEEC).
Maldives Entices Dive Enthusiasts at ADEX Ocean Mission 2024
The Maldives Marketing & Public Relations Corporation (MMPRC) recently showcased the archipelago's spectacular underwater world at ADEX Ocean Mission 2024. Held in Singapore, ADEX is Asia's largest and longest-running dive expo, drawing enthusiasts, industry professionals, and conservationists.
The MMPRC, along with six industry partners, actively promoted the Maldives as a premier dive destination. Their...
Two Cruise Liners Enhance Maldives Tourism Scene
The tourism industry received another boost this month with the arrival of two luxury cruise liners. On the 14th of April, MS Artania docked in Malé harbour, carrying 1,200 passengers and 530 crew. The vessel arrived from Colombo, Sri Lanka, as part of its 143-day "Easter, Art" themed voyage from Hamburg, Germany to Savona, Italy.
The Perilous Path of Political Patronage: Election Promises and Economic Fallout
As Maldives approaches a crucial parliamentary election, concerns have emerged regarding the potential use of government resources in campaign efforts. These concerns require careful consideration to ensure a fair and transparent electoral process.
Campaign Promises and Economic Fallout
The upcoming election has been characterized by a barrage of promises, with...
CTI and STO Collaborate for Successful Workforce Training
The Corporate Training Institute (CTI) has recently wrapped up a successful tailored corporate training programme conducted in partnership with the State Trading Organization (STO) of the Maldives. Underscoring CTI's focus on fostering organisational excellence, the initiative aimed to enhance essential workforce skills.
The intensive training programme, led by CTI's expert trainers, was uniquely crafted...
Hanimaadhoo Boosts Tourism Push with New Land Allocation
The Hanimaadhoo Council has announced the allocation of 14 plots of land for tourism development. The plots, totalling 5,000 acres, are situated within the Hanimaadhoo Tourism Zone on the desirable north beach area of the village. This initiative aims to increase revenue for the council, reduce reliance on the government budget, boost employment opportunities, and develop a...
LATEST ARTICLES
Report: The Costly Economics of Parliamentary Elections in Maldives
As the fervour of the parliamentary campaign reaches its zenith in the Maldives, a glaring reality emerges from the shadows - the...
Deadline Extended: Industry Partners Encouraged to Join ITB China 2024
The Maldives Marketing & Public Relations Corporation (MMPRC), also known as Visit Maldives, has extended the deadline for Maldivian tourism businesses to...
Chinese Company Contracted to Address Power Shortages in Addu City
Fenaka Corporation Limited has signed an agreement with Chinese company DEC Dongfeng Electric Machinery Co., Ltd. The contract aims to establish a...
Gov’t Seeks Funding with MVR 2.6 Billion in T-Bills
In a move to secure funding for government expenditure, the Ministry of Finance has announced the sale of T-bills worth MVR 2.6...
Commercial Block “B” Unit Available for Café/Restaurant and HDC Staff Canteen
A unique commercial opportunity has arisen, as a call for proposals has been issued for the lease of a unit within Commercial...
