Joint Initiatives Set to Expand Sri Lanka-Maldives Relations
Sri Lanka and the Maldives are intensifying their bilateral ties through a series of strategic collaborations aimed at enhancing trade, tourism, education, and community welfare. These initiatives are expected to build on the deep-rooted historical and cultural connections between the two nations while addressing logistical challenges and fostering economic growth.
The Sri Lanka-Maldives Business...
Maldives, China Focus on Expediting Infrastructure and Trade Projects
President Dr Mohamed Muizzu held discussions with His Excellency Wang Yi, China’s Minister of Foreign Affairs and Director of the Office of the Central Commission for Foreign Affairs, during a courtesy visit at the President’s Office. The meeting focused on strengthening Maldives-China relations and advancing ongoing projects and agreements.
During the meeting, President Muizzu...
Crystal Symphony Brings Over 200 Tourists to Maldives During High Season
The Maldives welcomed the arrival of the Bahamas-registered cruise ship Crystal Symphony, carrying 212 tourists, as it docked in Malé during its journey through the Indian Ocean. The ship arrived from Seychelles and departed for Sri Lanka after spending a day in the Maldives, according to the Maldives Association for Yacht Agents (MAYA).
Crystal...
President Muizzu: Fisheries Sector Can Drive Economic Prosperity
President Dr Mohamed Muizzu has highlighted the potential of the fisheries sector to significantly contribute to the Maldivian economy, pledging government support to address existing challenges and revitalise the industry. Speaking during his visit to GA. Dhevvadhoo, President Muizzu emphasised that fisheries remain a key driver for economic growth, capable of enriching the lives of Maldivians if...
Ooredoo 2025 Calendar Brings Maldivian Folklore to Life with AI
Ooredoo Maldives has launched its 2025 calendar, blending tradition with cutting-edge technology to celebrate Maldivian folklore in an unprecedented way. Titled Future Meets Nostalgia, the calendar was unveiled at a ceremony held at Ooredoo’s headquarters in Hulhumalé by Minister of Homeland Security and Technology, Mr. Ali Ihusan.
Marking a first for the Maldives, the...
New Foreign Exchange Act Introduces Registration Rules for Key Sectors
The Maldives Monetary Authority (MMA) has introduced new regulations under the Foreign Exchange Act, mandating certain businesses to register with the central bank. This marks a significant step in aligning foreign exchange operations with updated legal frameworks as the Act came into effect on 1 January 2025.
Key provisions target businesses operating in the...
Maldives Sees 4.7% Revenue Increase in December 2024, Driven by Tourism
The Maldives recorded a total revenue collection of MVR 2.33 billion in December 2024, reflecting a 4.7% increase compared to the same month in 2023. This growth was attributed primarily to increased Goods and Services Tax (GST) receipts, Green Tax, and Corporate Social Responsibility (CSR) fees. Notably, tourism-related fees surged following a 5.7% rise in November tourist...
Report: Maldives’ Year in Review – Major Economic Developments of 2024
The year 2024 marked a significant chapter for the Maldivian economy, with notable achievements in the tourism sector tempered by ongoing concerns about fiscal stability and external debt. While the Maldives further solidified its reputation as a premier global holiday destination, government authorities faced the dual challenge of implementing economic reforms and managing foreign currency inflows against...
Chongqing Airlines Resumes Direct Flights to Malé
Chongqing Airlines has resumed its direct flights to Malé as of 8th January, re-establishing a vital connection between the Maldives and Southwest China's largest commercial and industrial hub. The airline will operate three weekly flights on Monday, Wednesday, and Friday, with a stopover in Colombo. The route itinerary—Malé-Colombo-Chongqing—will also facilitate convenient connections with other airlines.
FTA Rules of Origin: What Maldivian Exporters Need to Know
The Free Trade Agreement (FTA) between the Maldives and China presents a transformative opportunity for Maldivian exporters, granting preferential access to one of the world’s largest and most dynamic markets. However, while the FTA reduces tariffs on key exports such as fisheries, the devil lies in the details, particularly in the rules of origin (ROO). These rules...
Gov’t to Establish Dedicated Body for Aviation Safety Oversight
The Minister of Transport and Civil Aviation, Mohamed Ameen, has announced the government’s plans to create a specialised entity focused on aviation safety investigations. Speaking on state media, the minister emphasised the importance of enhancing aviation safety protocols in preparation for an International Civil Aviation Organization (ICAO) safety audit scheduled for June 2025.
Minister...
MATATO AGM Concludes with Re-Election of Key Leaders
The Maldives Association of Travel Agents and Tour Operators (MATATO) held its Annual General Meeting (AGM) for the 2024/25 term on Wednesday, electing a new executive board to steer the organisation’s activities and initiatives.
Abdulla Ghiyas Riyaz was re-elected as President, alongside Mohamed Khaleel and Mohamed Shaz, who retained their roles as Vice Presidents....
President Urges Citizens to Embrace Hiyaavehi Scheme for Housing Solutions
President Dr Mohamed Muizzu has called on all Maldivians to take full advantage of the Hiyaavehi financing scheme, describing it as a golden opportunity to secure housing and achieve homeownership. Speaking at a community meeting on Maamedhoo island during his tour of Huvadhu Atoll, the President emphasised that resolving the country’s housing challenges is one of his...
Foreign Minister Wraps Up UAE Visit, Advancing Key Partnerships
The Minister of Foreign Affairs of the Maldives, Dr. Abdulla Khaleel, has concluded an official visit to the United Arab Emirates (UAE), held at the invitation of His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the UAE. The visit marks another milestone in the longstanding relationship between the...
Maldives Tourism Gains New Voice as Shiuree Joins PATA Board
The Managing Director of the Maldives Marketing and Public Relations Corporation (MMPRC), Ibrahim Shiuree, has been elected as a Board Member of the Pacific Asia Travel Association (PATA), one of Asia’s leading tourism organisations.
Shiuree’s election was decided through a voting process involving member governments, with nominees selected by PATA's members. The PATA Board,...
Traffic Congestion in Malé City: Economic Impacts and Tailored Solutions
Malé City faces significant traffic congestion challenges that impede economic activities and diminish residents' quality of life. With limited land area and a growing number of vehicles, the city's streets are often gridlocked, leading to delays and increased operational costs for businesses.
Economic Impacts of Traffic Congestion
The high level...
Gov’t Pushes Ahead with RACL-MACL Merger to Curb SOE Losses
The Maldives Airports Company Limited (MACL) will finalise its merger with Regional Airports Company Limited (RACL) within this month, according to MACL Managing Director Ibrahim Shareef Mohamed. This move, initiated by the government, is part of a broader effort to reduce expenditure within State-Owned Enterprises (SOEs).
Speaking to local media, Shareef stated that valuations...
MMA Reports Financial Growth in December 2024
The Maldives Monetary Authority (MMA) has published its financial position for December 2024, providing a window into the country's economic health and monetary policy performance. While the numbers might appear complex, they offer critical insights into how the economy is functioning and where potential challenges lie.
One of the key highlights is the growth...
MDP Pushes for Uniform Utility Service Across Households
The opposition Maldivian Democratic Party (MDP) has submitted a proposed amendment to the Consumer Protection of Goods and Services Act aimed at preventing telecommunications companies and utility providers from charging additional fees for extending services to all parts of a household. The amendment, introduced by Galolhu North MP Mohamed Ibrahim, seeks to address longstanding consumer grievances and...
Allied at 40: Four Decades of Protecting Maldivian Futures
As the Maldivian society, economy, and business sector grew, so did the need for a trusted institution to ensure financial security against various risks. Recognising this, the State Trading Organization (STO) partnered with British Commercial Union Assurance in 1985 to establish Allied Insurance Company of the Maldives.
In 1987, STO acquired the British company’s...
Ooredoo Maldives Partners with Qatar Charity to Repair Masjid Al Sheikh Qasim bin Al-Thani Ahead of Ramadan
Ooredoo Maldives has announced its partnership with Qatar Charity to enhance the facilities of Masjid Al Sheikh Qasim bin Al-Thani, commonly known as the Hulhumalé Grand Mosque, in preparation for Ramadan. This collaboration includes the installation of a state-of-the-art air conditioning system aimed at providing a more comfortable environment for worshippers.
The agreement was...
Resilient Housing: A Lifeline for the Maldives Amid Escalating Climate Risks
The Maldives is grappling with the growing consequences of rising sea levels and extreme weather events. The recent torrential rains and flooding, which affected hundreds of homes and displaced families across Male’, Hulhumale’, and several islands, are yet another reminder of the nation’s exposure to climate hazards. As the country braces for worsening impacts, the concept of...
SIMDI Recrea Launches Exciting Promotion in Hulhumalé
SIMDI Recrea in Hulhumalé has launched a limited-time promotion, offering discounts of up to 15% on a wide selection of premium household items. Running from 7th January 2025 to 15th February 2025, the promotion provides customers with an excellent opportunity to upgrade their homes with high-quality products at reduced prices.
The promotion spans a...
Gov’t to Settle Majority of SOE Payments to Contractors by Ramadan
President Dr Mohamed Muizzu has announced plans to clear a substantial portion of the outstanding debts owed by state-owned enterprises (SOEs) to private contractors before Ramadan. The initiative aims to address financial mismanagement under the previous administration, which left companies such as Fenaka Corporation, the Road Development Corporation (RDC), WAMCO, and MTCC unable to pay their dues.
LATEST ARTICLES
Joint Initiatives Set to Expand Sri Lanka-Maldives Relations
Sri Lanka and the Maldives are intensifying their bilateral ties through a series of strategic collaborations aimed at enhancing trade, tourism, education,...
Maldives, China Focus on Expediting Infrastructure and Trade Projects
President Dr Mohamed Muizzu held discussions with His Excellency Wang Yi, China’s Minister of Foreign Affairs and Director of the Office of...
Crystal Symphony Brings Over 200 Tourists to Maldives During High Season
The Maldives welcomed the arrival of the Bahamas-registered cruise ship Crystal Symphony, carrying 212 tourists, as it docked in Malé during its...
President Muizzu: Fisheries Sector Can Drive Economic Prosperity
President Dr Mohamed Muizzu has highlighted the potential of the fisheries sector to significantly contribute to the Maldivian economy, pledging government support...
Ooredoo 2025 Calendar Brings Maldivian Folklore to Life with AI
Ooredoo Maldives has launched its 2025 calendar, blending tradition with cutting-edge technology to celebrate Maldivian folklore in an unprecedented way. Titled Future...
