Atlantis The Royal Maldives Set to Open in 2029 on Dual Islands in South Malé Atoll

Kerzner International, in collaboration with Assets Group, is bringing the Atlantis brand to the Maldives with the launch of Atlantis The Royal Maldives in 2029. The project, located on Vaaredhdhoo Faru in South Malé Atoll, will introduce a dual-island resort that blends entertainment-driven hospitality with the island nation’s natural appeal.

Set across 1.37 million square metres and featuring over 5.8 kilometres of beachfront, the resort will be accessible by a 10-minute seaplane flight or a 25-minute speedboat ride from Velana International Airport. Designed around two distinct yet connected islands, Family Island and Luxury Island, the development will house 493 keys, comprising 270 hotel rooms and 223 villas and mansions.

True to the Atlantis brand, the property will feature an extensive line-up of attractions and experiences. The centrepiece will be the Aquaventure waterpark, spanning approximately 70,000 square metres and featuring up to 15 rides anchored by the Neptune and Poseidon Towers. Beyond this, the resort will include sports academies, entertainment zones, and wellness facilities, positioning it as a year-round leisure destination for families and couples alike.

The culinary offering will be one of the resort’s main highlights, with 20 dining venues, two beach clubs, and more than 17 signature experiences including Gastronomy, The Royal Tearoom, and Ossiano. The line-up will also include celebrity-chef restaurants and relaxed island dining concepts, providing guests with a wide range of options across the islands.

Wellness will be integrated throughout the property rather than confined to one space. Planned features include a botanical alchemy zone, an overwater yoga and breathwork platform, a longevity-focused spa, a recovery studio, and a fitness centre with both indoor and outdoor facilities. The resort will also offer retail avenues with luxury boutiques and event spaces for gatherings of various scales.

In keeping with the Atlantis Atlas Project, sustainability is a key component of the development. The resort aims to protect local ecosystems through responsible design, energy efficiency, coral and seaweed regeneration, and water conservation systems, aligning luxury hospitality with environmental stewardship.

Atlantis The Royal Maldives is envisioned as a destination that merges family-oriented experiences with exclusive luxury. With its entertainment-first approach, expansive scale, and environmental focus, the 2029 opening is set to mark a new chapter in high-end tourism in the Maldives.

Gov’t Offers MVR 2.95 Billion in Treasury Bills for Subscription

The Ministry of Finance and Planning has announced a new round of Treasury Bill (T-bill) issuances worth a total of MVR 2.95 billion under series TB-2025-022, inviting investors to subscribe to the short-term government securities.

The sale date is set for 16 November 2025, with settlement scheduled for 17 November 2025. The four T-bill tranches on offer carry maturities ranging from 28 to 364 days, with interest rates between 3.50% and 4.60%.

According to the Ministry, the details of the offer are as follows:

  • 28-day T-bill: MVR 1.01 billion at 3.50%, maturing on 15 December 2025.
  • 98-day T-bill: MVR 50 million at 3.87%, maturing on 23 February 2026.
  • 182-day T-bill: MVR 989.8 million at 4.23%, maturing on 18 May 2026.
  • 364-day T-bill: MVR 907.2 million at 4.60%, maturing on 16 November 2026.

Subscriptions must be made using the official form and submitted to the Ministry of Finance and Planning between 8:30 a.m. and 11:00 a.m. on the sale date. Full payment is required on the settlement date to complete the transaction.

Treasury Bills form an integral part of the government’s short-term borrowing strategy, enabling it to manage cash flow and finance immediate fiscal needs. The instruments also provide a secure investment option for banks, state-owned enterprises, and institutional investors seeking low-risk returns.

Marginal Fall in Essential Commodity Prices in Malé Amid Slight Dip in Food Costs

The Essential Commodity Price Index (ECPI) for Malé fell marginally by 0.98% in October 2025, according to data released by the Maldives Bureau of Statistics (MBS). While technically a decline, the movement is too small to offer tangible relief for most consumers, reflecting only a mild easing in food prices.

Food prices, which make up more than 70% of the ECPI basket, dropped by 1.49% from September. The fall was mainly driven by fruits and vegetables, with fruit prices down 7.94% and vegetables down 0.98%. These declines were partly offset by slight increases in sugar, jam, honey, chocolate and confectionery (+1.15%) and milk, dairy products and eggs (+0.38%).

On a year-on-year basis, essential commodity prices were up 1.89% compared to October 2024. Food prices rose by 1.82% over the same period, led by higher fruit and other food product prices, while vegetable prices fell 10.10% year-on-year.

Beverage prices increased modestly both month-on-month (+0.45%) and year-on-year (+2.68%), with notable annual rises in coffee (+8.68%) and fruit juices (+5.67%). Gas and other fuel rose slightly by 0.64% from the previous month but remained 0.83% lower than a year ago.

The ECPI, which tracks prices of 96 essential goods including food, beverages, fuel, and personal care products, is designed to serve as an early indicator of inflation trends. Despite October’s mild easing, overall prices remain higher than a year ago, suggesting that household budgets have yet to see meaningful relief from inflationary pressures.

Maldives Immigration to Launch e-Visa Application System on 23 November

Maldives Immigration has announced the introduction of a new e-visa application system, marking a major step in modernising the country’s immigration services. The digital platform, which includes a mobile application and facial recognition technology, was officially launched at a ceremony on 10 November.

Applications through the e-visa system will open on 23 November. According to Immigration, the two-week period between the launch and application opening is to give applicants sufficient time to familiarise themselves with the new process. The authority said detailed guides and tutorials will be released across its platforms to assist users in navigating the system.

As part of the transition, Immigration has set 20 November as the deadline for submitting physical passports under the current system. Passports not processed and issued by 23 November will be handled under the new digital framework. Applicants are being encouraged to collect their completed passports before the deadline to avoid delays.

The new e-visa service is designed to simplify and streamline procedures that previously required multiple in-person visits. Once operational, the system will allow all visa and permit applications to be processed online, offering a more efficient and user-friendly experience for both residents and visitors.

Mastercard Recognises BML for Strengthening the Maldives’ Digital Economy

Mastercard has recognised the Bank of Maldives (BML) for its continued partnership and contribution towards advancing the Maldives’ digital economy through the Digital Country Partnership initiative.

The award was presented to BML’s CEO and Managing Director, Mohamed Shareef, by Mastercard’s Country Manager for Sri Lanka and the Maldives, Sandun Hapugoda, during the Digital Finance Leadership event held in Singapore.

The Digital Country Partnership, signed in August 2025 between Mastercard, the Ministry of Homeland Security and Technology, and the Bank of Maldives, represents a shared commitment to accelerating digital transformation and fostering innovation nationwide. The partnership focuses on expanding secure, inclusive, and efficient digital financial services, helping individuals and businesses participate more effectively in the digital economy.

Through long-standing collaboration, Mastercard and BML have introduced several initiatives that have modernised payment systems and improved access to digital services across the Maldives. These include key projects such as enabling cashless payments on the Raajje Transport Link (RTL), part of the country’s smart city solutions designed to enhance convenience and connectivity.

Recognising BML’s contribution, Mastercard reaffirmed its dedication to supporting the Maldives in building a robust digital ecosystem through technology and innovation. The partnership continues to play an essential role in empowering communities and driving sustainable economic growth by leveraging Mastercard’s global expertise and network.

Ooredoo Maldives Partners with The Coffee Bean & Tea Leaf for Fun Run 2025 Giveaway

Ooredoo Maldives has partnered with The Coffee Bean & Tea Leaf Maldives to offer participants of the upcoming Ooredoo Fun Run 2025 the chance to win exclusive prizes hidden inside selected Fun Kits.

As part of the collaboration, 250 special tickets from The Coffee Bean & Tea Leaf have been randomly placed in Fun Kits distributed to registered participants. These include one Golden Swirl Ticket, five Purple Tickets, and 244 Silver Tickets, each offering different rewards for winners.

The Golden Swirl Ticket grants the winner a year’s supply of Ice Blended beverages, with two complimentary drinks per month between December 2025 and November 2026. The five Purple Tickets entitle winners to five handcrafted beverages each, while Silver Ticket holders will receive a 5% discount on a single beverage transaction.

Participants can register for the Ooredoo Fun Run 2025 until 14 November at 23:59. Two kit options are available: the Fun Kit priced at MVR 210, which includes a T-shirt, wristband, cloth bag, eyeglasses, multipurpose bandana, and a reusable water bottle, and the Standard Kit priced at MVR 110, which includes a T-shirt, wristband, and reusable water bottle.

The Ooredoo Fun Run is one of the country’s most anticipated community fitness events, combining health, entertainment, and prizes to promote active lifestyles.

Maldives Speaker Highlights Need for Multilateralism to Safeguard Global Stability

Speaker of Parliament Abdul Raheem Abdulla has called for greater multilateral parliamentary cooperation, describing it as essential to maintaining global peace, security, and sustainable development.

Speaking at the Inter-Parliamentary Speakers Conference (ISC) in Islamabad, Abdul Raheem said that many of today’s challenges, from climate change and economic instability to misinformation and geopolitical tensions, cross national borders and demand collective legislative action.

He noted that peace, security, and development are interdependent goals rather than separate priorities, and argued that stronger collaboration among parliaments is vital to uphold these shared principles. Drawing on the Maldives’ own experience as a small island nation, he highlighted the country’s exposure to global disruptions and underlined the importance of multilateralism, good governance, and fairness in international relations.

Abdul Raheem also cited regional and global organisations such as the South Asian Association for Regional Cooperation (SAARC) and the Organisation of Islamic Cooperation (OIC) as important platforms for building diplomatic relationships and supporting equitable development. He said parliamentary institutions play a central role in maintaining these partnerships and ensuring that progress benefits all nations fairly.

Addressing humanitarian concerns, the Speaker expressed deep concern over the suffering of women and children affected by conflict and instability worldwide. He urged parliamentary leaders to respond to such crises with compassion and accountability, stating that lasting security can only be achieved through justice and solidarity, not fear and violence.

He further called for robust legislation to address emerging security risks, including terrorism, maritime threats, and cyberattacks.

In conclusion, Abdul Raheem reaffirmed the Maldives’ commitment to advancing parliamentary diplomacy and said the country supports efforts to shape the Islamabad Declaration, building on the foundation of the Seoul Declaration.

New Trademark Act Introduces Stronger Protections for Businesses and Creators

President Dr Mohamed Muizzu has ratified the Trademark Bill, marking the establishment of a comprehensive legal framework for trademark registration and protection in the Maldives.

The bill, which was unanimously passed by the People’s Majlis during its sitting on 10 November, introduces clear mechanisms to safeguard the rights of local and foreign trademark owners, prevent counterfeiting, and strengthen intellectual property enforcement.

Under the new law, trademarks are defined as any sign capable of distinguishing one party’s goods or services from another’s, including names, letters, numbers, colours, and figurative elements, or combinations of these. It outlines both civil and criminal measures against infringement, with penalties for counterfeiting offences ranging from MVR 100,000 to MVR 2 million. Courts are also empowered to issue interim orders to prevent infringement or secure evidence, while customs authorities may seize suspected counterfeit imports.

The Act further requires trademark owners to re-register their marks within 12 months from the date it comes into force, ensuring consistency under the new system. All relevant authorities must publish the accompanying regulations and guidelines within six months of enforcement.

Economic Minister Mohamed Saeed described the ratification as a historic step for the country, noting that it will enhance investor confidence and create a more secure environment for businesses, manufacturers, and creative industries.

The Trademark Act has now been published in the Government Gazette and will come into effect 12 months from its date of publication.

Maldives Prepares to Export First Batch of Commercially Cultivated Seaweed

The Maldives is preparing to export its first batch of commercially cultivated seaweed, marking a new chapter in efforts to diversify the economy through sustainable marine industries.

The initiative is being led by Floating Acres, a private firm that began commercial-scale cultivation in April this year at Fehendhoo, Baa Atoll. With its first export stock now ready, the company’s progress signals a step forward in the country’s broader mariculture development.

According to the Ministry of Fisheries and Ocean Resources, the achievement reflects growing momentum in harnessing marine resources for sustainable growth. The ministry noted that seaweed farming offers economic and environmental potential, particularly in creating jobs and generating export revenue while supporting ecological balance.

The launch of the operation follows recent regulatory changes that allowed commercial mariculture projects to move ahead after years of policy stagnation. Although seaweed farming had previously been tested in the Maldives and proven viable, the absence of a formal regulatory framework had prevented commercial-scale production.

Globally, the seaweed industry is expanding rapidly. Valued at USD 17.14 billion in 2023, the market is projected to double by 2032, driven by increasing demand for seaweed-based food, pharmaceuticals, cosmetics, and biofuel. Asia currently dominates the sector, accounting for nearly all global production, with leading producers including China, Indonesia, South Korea, and the Philippines.

For the Maldives, where over 99 percent of the territory is ocean, mariculture represents a strategic opportunity to strengthen the fisheries sector and build new export avenues. Industry observers see the country’s entry into seaweed cultivation as an important step towards a more diversified and resilient ocean economy.

Corporate Maldives Bizweek 2026 Set for 29–31 October

Corporate Maldives has announced that its flagship annual event, Bizweek 2026, will be held from 29th to 31st October 2026, bringing together leaders, professionals, and organisations from across the country’s business and tourism sectors.

Next year’s edition will introduce two major additions, the Corporate Maldives Supplier Expo and the Corporate Maldives Job Fair, expanding Bizweek into a broader platform for collaboration, opportunity, and industry development.

The Supplier Expo will serve as a dedicated platform connecting Maldivian resorts and corporations with a wide range of suppliers, showcasing products and services across key sectors including food and beverage, hospitality, construction, IT, logistics, sustainability, and textiles. The event aims to foster new partnerships and drive collaboration within the tourism and hospitality supply chain.

Meanwhile, the Job Fair will create opportunities for job seekers and employers to connect directly. Through the Corporate Maldives Network portal, participants can pre-schedule interviews, browse job listings, and build professional profiles in advance, ensuring a more streamlined and productive experience.

Both events will be held as part of Bizweek’s three-day programme, offering a dynamic environment for businesses and individuals to engage, network, and explore new possibilities.

Registrations for Bizweek 2026 will be open via the Corporate Maldives Network, early next year.

Maldives October Revenue Rises 16.7% on Tourism and Green Tax Growth

Government revenue collection in October 2025 reached MVR 2.04 billion, marking a 16.7 percent increase compared to the same month last year, according to the latest figures from the Maldives Inland Revenue Authority (MIRA). The improvement was largely driven by stronger performance in the tourism sector, increased green tax rates, and higher airport-related fees.

Of the total revenue, USD-denominated collections amounted to USD 85.96 million. Goods and Services Tax (GST) remained the largest contributor, accounting for 60.4 percent of total revenue. Green Tax followed with 8.5 percent, while Income Tax, Airport Development Fee, and Departure Tax contributed 7.2 percent, 6.8 percent, and 6.7 percent respectively.

Tourism-related taxes continued to play a critical role in boosting state income. MIRA attributed the increase in revenue to higher collections of Tourism Goods and Services Tax (TGST), Green Tax, and airport taxes, supported by a 12.6 percent rise in tourist arrivals in September 2025 compared to the same period last year. The higher Green Tax rate implemented in January 2025 and the revised airport taxes and fees effective from December 2024 also contributed to the overall growth.

MIRA’s report also highlighted that October’s revenue exceeded projections by 1.2 percent, driven mainly by higher-than-expected collections from TGST, General Sector GST, and Work Permit Fees. Unprojected revenue sources such as land acquisition and conversion fees, corporate social responsibility fees, and lease period extension fees added further gains.

In addition, 21 percent of the month’s total revenue came from payments collected past their original deadlines, while 7.1 percent was secured through targeted initiatives to recover outstanding dues.

Overall, tax revenues made up 82.8 percent of October’s total collection, while non-tax revenues accounted for the remaining share. The continued strength of GST and tourism-related taxes underscores the sector’s importance to government finances, with fiscal performance for the month signalling sustained momentum as the high season progresses.

President Ratifies SEZ Amendment Establishing Sustainable Township Framework

President Dr Mohamed Muizzu has ratified the First Amendment to the Special Economic Zone (SEZ) Act (Act No. 24/2014), introducing new provisions to support the development of sustainable townships within designated SEZs.

The amendment bill was passed by the 20th People’s Majlis during its 16th sitting of the third session of 2025, held on 5 November.

The revised Act outlines the framework for designating SEZs as sustainable townships, setting out the principles and conditions required for their establishment. According to the amendment, a sustainable township must involve a minimum investment of USD 500 million and include either an integrated tourism development or a large-scale real estate development. Integrated tourism projects are required to feature a range of luxury tourism services, while large-scale real estate developments must additionally include luxury residential facilities.

The amendment also introduces new sustainability standards for infrastructure within such zones. It mandates that energy production and waste management systems must be self-sufficient, with at least 60 per cent of the zone’s operational energy needs generated from renewable sources.

In addition, the amendment specifies a range of special concessions and incentives for developers and investors involved in sustainable township projects, aimed at promoting large-scale, environmentally responsible investment in the Maldives.

Following ratification, the First Amendment to the Special Economic Zone Act has been published in the Government Gazette and is now in effect.

Maldives Immigration Goes Fully Digital with Launch of ‘Maldives 2.0’ Services

Maldives Immigration has officially launched its digital services under the ‘Maldives 2.0’ project, marking a significant step towards a fully digital public service framework and ending the need for in-person visits for passport and visa services.

The inauguration ceremony took place at Barceló Nasandhura Malé and was officiated by President Dr Mohamed Muizzu, who was welcomed by Minister of Homeland Security and Technology, Ali Ihusaan.

During the event, President Muizzu launched the new Maldives Immigration website, mobile application, and facial recognition system, officially introducing the e-Visa service to the public.

‘Maldives 2.0’, launched as a presidential initiative, seeks to transform the nation’s administrative and public service systems through digital innovation. The programme aims to establish faster, more secure, and transparent service delivery across all State institutions within the next three years.

With this milestone, Maldives Immigration becomes the first Government agency to achieve full digitalisation of its services. The shift is expected to streamline operations, improve efficiency, and provide citizens and foreign nationals with easier access to essential documentation.

At the ceremony, Minister Ihusaan and the Controller General of Immigration, Commissioner of Police (Retired) Ahmed Faseeh, presented a commemorative plaque to President Muizzu in recognition of his efforts to advance the ‘Maldives 2.0’ vision and promote digital transformation nationwide.

Dhiraagu Opens Third Data Centre in N. Velidhoo, Expanding Nationwide Digital Infrastructure

Dhiraagu has inaugurated its third data centre in N. Velidhoo, marking another step in strengthening the Maldives’ digital infrastructure and enhancing access to advanced technological solutions across the country.

The inauguration ceremony, held on 11 November 2025, was officiated by Dhiraagu’s Chief Executive Officer and Managing Director, Ismail Rasheed, and the President of Velidhoo Island Council, Athif Hussain.

The newly launched facility is a Tier III Ready Data Centre, designed to meet international standards of reliability, security, and operational performance. It will provide businesses, including resorts and enterprises operating in the region, with the capability to host and safeguard data closer to their operations. The centre is also expected to improve the resilience and efficiency of cloud-based services, ensure business continuity, and enhance service delivery across the atolls.

Earlier this year, Dhiraagu inaugurated the country’s first and only Tier IV Certified Data Centre in Hulhumalé, the highest certification level granted by the Uptime Institute. The certification highlights Dhiraagu’s capacity for fault tolerance and operational excellence, reinforcing its leadership in digital infrastructure.

Through this latest development, Dhiraagu reaffirms its role as the Maldives’ leading digital enabler, investing in future-ready infrastructure that supports innovation, connectivity, and sustainable economic growth across the islands.

Maldives and India Renew Commitment to Deepen Development Partnership

President Dr Mohamed Muizzu met with India’s Minister of Civil Aviation and Special Envoy of Prime Minister Narendra Modi, His Excellency Kinjarapu Ram Mohan Naidu, at the President’s Office on Monday morning, reaffirming the enduring partnership between the Maldives and India.

During the meeting, President Muizzu expressed appreciation to Prime Minister Modi and the Government of India for their continued support, which he said has played a key role in the Maldives’ socio-economic development. He extended particular gratitude for India’s assistance in ensuring the timely completion and opening of Hanimaadhoo International Airport, a project he described as vital to improving connectivity and driving progress in the northern region.

The President further noted that India remains a steadfast partner in the Maldives’ development agenda and expressed confidence that ongoing projects between the two countries would continue to advance smoothly.

Minister Naidu congratulated the Government of Maldives on the inauguration of the airport and said Prime Minister Modi had personally overseen the completion of the project. He reaffirmed India’s continued support for the Maldives and stated that both leaders remain committed to advancing cooperation within the Indian Ocean region.

Both sides concluded the meeting by reiterating their shared commitment to deepen bilateral relations and advance projects that bring mutual benefit to the two nations.

Earlier, Minister Naidu also met with Minister of Foreign Affairs Dr Abdulla Khaleel at the Ministry of Foreign Affairs. Their discussions focused on enhancing cooperation in connectivity and development initiatives. The meeting reaffirmed the two governments’ commitment to strengthening their long-standing partnership.

Auditor General Criticises 2026 Budget for Absence of Cost-Cutting Measures

Auditor General Hussain Niyazi has raised concerns over the government’s record MVR 64.2 billion budget for 2026, warning that the lack of cost-cutting measures could deepen the Maldives’ fiscal challenges and further expand national debt.

Addressing the State Budget Review Committee, Niyazi said the proposed budget contains no concrete strategies to reduce spending, unlike previous years when at least some austerity measures were outlined. He described the government’s approach to expenditure reduction as one that has been continually delayed, arguing that the absence of such measures is unsustainable.

Niyazi cautioned that without decisive action to manage public spending, the Maldives risks losing control over its debt trajectory. He urged lawmakers to request detailed fiscal guidelines and expenditure control measures from the Ministry of Finance before approving the budget.

Director General Mohamed Shan of the Auditor General’s Office noted that while the projected revenue target of MVR 40 billion appeared reasonable, the absence of spending cuts and consolidation plans remained a key concern. He highlighted that austerity policies proposed in previous budgets had not been implemented and that the government’s current spending trend showed no signs of restraint.

The government had earlier considered pension and subsidy reforms to curb expenditure but later reversed these plans. Instead, President Dr Mohamed Muizzu opted to allocate a number of projects to state-owned enterprises, presenting the decision as a cost-saving measure. The move has drawn criticism from private contractors, who argue that they are being excluded from opportunities.

At the same time, the government has awarded more than 200 projects to private companies without competitive bidding, prompting the opposition Maldivian Democratic Party (MDP) to consider legal action.

Transparency issues have also been raised regarding fiscal reporting. The Ministry of Finance has not published weekly expenditure and revenue updates for several months, citing unresolved transactions from the previous administration. Finance Minister Moosa Zameer has since acknowledged that approximately MVR 2 billion in spending remains unaccounted for.

In its advisory to the government, the Auditor General’s Office stated that the deteriorating fiscal situation has made it increasingly difficult to secure external financing, leading to greater reliance on domestic borrowing. The office advised the government to adhere to its medium-term debt strategy to stabilise the fiscal position and ensure sustainability.

While the Ministry of Finance has plans for debt repayment, the Auditor General’s Office warned that the steps outlined could still increase the overall debt burden if not supported by meaningful reductions in expenditure.

President Ratifies Amendment to Maldives Higher Education and Training Act

President Dr Mohamed Muizzu has ratified the First Amendment to the Maldives Higher Education and Training Act (Act No. 7/2021). The amendment, which was passed by the 20th People’s Majlis on 5 November 2025, seeks to expand access to higher education and allow qualified institutions to offer university-level education within the country.

The revised legislation updates the criteria for establishing and operating universities in the Maldives. Under the new requirements, an institution applying for registration as a university must have either operated as a local college for at least 15 consecutive years or functioned as a university abroad for a minimum of 10 years.

To convert a registered higher education college into a university, the institution must meet several conditions. These include offering at least three programmes at Maldives National Qualifications Framework (MNQF) Levels 7 and 9, either independently or in affiliation with a foreign university, and maintaining a minimum enrolment of 1,000 students in MNQF Level 7 and above programmes.

In addition, the institution must be ranked under an international university rating system, hold membership for at least five years in both an international university association and an international quality assurance organisation, and have experience conducting international-level research in partnership with foreign universities or organisations.

The amendment also requires that at least 10 per cent of the academic staff hold doctoral qualifications, and that institutions have adequate infrastructure and resources that comply with standards set by the Ministry of Higher Education, Labour and Skills Development.

Following the President’s ratification, the amendment has been published in the Government Gazette and is now in effect.

First National Begins Trading of Real Estate and Hospitality Fund Shares on Secondary Market

First National has officially begun trading of the Real Estate and Hospitality Fund’s shares through its digital trading platform, following the announcement made during the Fund’s Annual General Meeting. This marks a new phase in providing investors with an accessible and regulated channel to buy and sell shares of the Fund.

Investors can now place orders directly through First National’s digital platform after completing a straightforward Know Your Customer (KYC) process. Once registered, users are able to submit buy or sell orders on the market with ease.

The First National Trading Platform operates on an order-matching mechanism, where trades are executed based on orders submitted by buyers and sellers. Investors also have the option to place market orders, allowing transactions to be completed more quickly depending on market conditions.

For further information or to begin trading, investors can visit the First National Trading page or contact First National Finance Corporation directly.

Hanimaadhoo International Airport Officially Inaugurated

Hanimaadhoo International Airport (HIA) was officially inaugurated on Sunday evening, marking an important step in improving infrastructure and air connectivity in the northern Maldives.

The redeveloped airport, located in Haa Dhaalu Atoll, now features a 2,465-metre runway capable of accommodating narrow-body international aircraft, a new passenger terminal spanning over 10,000 square metres, and upgraded facilities to support both passenger and cargo operations.

The inauguration ceremony was attended by President Dr Mohamed Muizzu and First Lady Sajidha Mohamed, who arrived aboard a Maldivian Airbus A320, the largest aircraft to have landed at Hanimaadhoo. Indian Minister of Civil Aviation Ram Mohan Naidu also attended the event as the Special Envoy of Prime Minister Narendra Modi, representing the Government of India.

The airport redevelopment project was financed through a USD 136.6 million line of credit from India’s EXIM Bank, part of a broader USD 800 million agreement signed in 2019. It was contracted to India’s JMC Projects Ltd, with construction beginning in early 2023.

Originally opened nearly four decades ago, Hanimaadhoo Airport previously handled only small domestic aircraft. With the latest expansion, it is now equipped with a modern terminal designed to handle up to 1.3 million passengers annually, a fuel farm, a cargo terminal, and an aerobridge, the first of its kind at any airport outside the capital region. The facility also includes an art gallery showcasing Maldivian artists and new ATM and dollar counter services operated by Bank of Maldives.

Speaking at the ceremony, President Muizzu said the airport would help address connectivity challenges faced by the northern atolls. He noted that improved access would encourage investment and tourism in the region, which has long faced higher travel costs and limited transport links compared to the central Maldives.

He also called on both local and foreign investors to explore opportunities in the north, highlighting the potential for economic growth around Hanimaadhoo and neighbouring islands such as Kulhudhuffushi and Ihavandhoo.

The government expects the upgraded airport to support regional commerce by reducing import costs and facilitating direct international access for tourists. President Muizzu added that the project demonstrated the administration’s commitment to completing delayed infrastructure works, noting that much of the construction was accelerated within the past year.

The ceremony included a fireworks display and a tour of the new terminal, operated by Maldives Airports Company Limited (MACL). Senior government officials, foreign dignitaries, and community representatives were also in attendance.

Hanimaadhoo International Airport now stands as one of the Maldives’ largest regional airports and a central component of the government’s decentralisation agenda. By expanding direct air connectivity to the north, the project is expected to play a key role in supporting tourism, trade, and employment across the region.

Indian Civil Aviation Minister Arrives in Maldives for Hanimaadhoo Airport Inauguration

India’s Minister of Civil Aviation, Kinjarapu Ram Mohan Naidu, has arrived in the Maldives on an official visit as the Special Envoy of the Prime Minister of India. He was received at Velana International Airport by the Minister of Foreign Affairs, Dr Abdulla Khaleel.

During his visit, Minister Naidu will jointly inaugurate the Hanimaadhoo International Airport later this evening. The project, developed with funding under the Government of India’s Line of Credit assistance, marks one of the largest infrastructure collaborations between the two countries.

The Indian Minister is accompanied by a business delegation representing the Indian civil aviation sector, reflecting the growing economic and technical cooperation between India and the Maldives.

The inauguration of the Hanimaadhoo International Airport represents a key milestone in enhancing regional connectivity and strengthening bilateral relations between the two nations.

Dhiraagu Opens Applications for 2026 Apprenticeship Programme

Dhiraagu has opened applications for its 2026 Apprenticeship Programme, the company’s flagship corporate social responsibility initiative designed to equip young Maldivians with practical workplace skills and experience.

First introduced in 2009, the programme has since become a hallmark of Dhiraagu’s youth development efforts, offering participants the chance to earn while they learn through hands-on training across various departments, including administration, marketing, sales, procurement, corporate services, finance, human resources, and technology.

This year’s intake is open to Maldivians aged between 18 and 30 who have completed their A’ Levels and are not employed full-time. Selected apprentices will receive training from Dhiraagu’s in-house specialists, covering both technical and soft skills such as time management, personal development, project planning, and presentation.

The programme will take place at Dhiraagu’s head office in Malé as well as at its regional operation centres in Addu City, Kulhudhuffushi City, Laamu Atoll, and Gaafu Atoll, expanding access to opportunities across the country.

Over the years, 288 apprentices have participated in the programme, many of whom have gone on to build successful careers within Dhiraagu and other organisations nationwide.

Applications are open until 30 November 2025 and can be submitted through Dhiraagu’s official website.

Procurement Complaints Lead ACC Reports in First Half of 2025

Procurement-related complaints were the most frequently reported cases to the Anti-Corruption Commission (ACC) during the first half of 2025, according to new data released by the commission.

Figures show that 43 procurement-related cases were submitted in the first quarter, followed by 30 in the second quarter, bringing the total to 73 for the first six months of the year.

Complaints concerning the misuse of state funds and resources ranked second, with 16 cases in the first quarter and 14 in the second, totalling 30 cases. Employment-related cases were reported nine times in the first quarter and eight times in the second. Reports involving land and rented resources increased from nine in the first quarter to 13 in the second, reaching 22 overall.

Most complaints originated from the atolls, accounting for 53.8 percent of cases in the first quarter and 63.1 percent in the second. In comparison, reports from Malé made up 46.2 percent in the first quarter and 36.9 percent in the second.

During the same period, the ACC conducted several awareness and prevention initiatives, including corruption prevention programmes for government offices and staff of state-owned enterprises. Two such programmes were held in the first quarter, training 141 participants, followed by one session for 68 participants in the second quarter.

The commission also held six awareness programmes for 125 staff of state-owned companies in the first quarter, and four sessions involving 93 participants in the second. Additionally, one awareness programme on state procurement was held, attended by 61 participants.

The Anti-Corruption Commission has recently faced public criticism over perceived inaction and inefficiency, with growing scrutiny regarding its handling of corruption complaints and delays in concluding investigations.

Strong Start to November, but Reaching Tourist Arrival Target Remains Uncertain

The Maldives has entered the high season with promising numbers, recording over 51,000 tourist arrivals in the first eight days of November 2025. Data from the Ministry of Tourism show a 14.4 percent increase compared to the same period last year, signalling a positive start to the month.

As of 8 November, total arrivals for the year stood at 1.88 million, representing a 9.9 percent growth from 2024. China continues to lead as the top source market with nearly 299,000 arrivals, followed by Russia and the United Kingdom.

While the figures reflect steady growth, the challenge lies in the scale of the remaining target. To reach the government’s goal of 2.3 million visitors for the year, the country must attract roughly 420,000 more tourists before year-end. Historically, November and December are among the busiest months, but sustaining an average of over 6,000 arrivals per day throughout both months will be crucial to bridge the gap.

Industry observers note that several factors will influence whether the target can be achieved. These include maintaining strong flight connectivity, seasonal promotions by resorts, and stable demand from key markets amid shifting travel patterns in Europe and Asia.

For now, the trend remains encouraging. The first week of November has set a solid tone for the high season, but whether the momentum can carry through to meet the 2.3 million goal remains to be seen.

Opposition Plans Legal Action Against Government’s No-Bid Project Allocations

The Maldivian Democratic Party (MDP) has decided to pursue legal action against the government’s decision to award 206 development projects worth MVR 2.7 billion, citing violations of the Public Finance Act. The decision was finalised during the party’s National Council meeting held last night, where members reached a consensus to take the issue to court.

The projects, valued at a total of MVR 2.7 billion, were awarded to 53 local contractors during a ceremony at Barceló Nasandhura in Malé. Implemented under the Public Sector Investment Programme (PSIP) on a contractor-finance basis, the projects span housing, education, health, environment, sports, religious affairs, fisheries, homeland security, and youth empowerment.

According to the Ministry of Finance, the initiative is aimed at accelerating infrastructure development and increasing private sector involvement in national projects. However, opposition figures and financial experts have questioned the transparency and legality of the procurement process.

The MDP contends that the government’s use of the Single Source procurement mechanism, which allows for direct project awards without open bidding, breaches the Public Finance Act. The party’s resolution argued that this approach lacks fairness and transparency, further claiming that companies without government affiliations were excluded from participation. The Council’s decision also included a call for all project agreements to be voided and for independent institutions to investigate the matter.

The issue stems from amendments introduced earlier this year to Section 10.22 of the Public Finance Rules, which permit the cabinet to allocate projects directly under Single Source procurement. Critics, including former Tender Board Chairperson Ismail Zariyand and former Finance Minister Ibrahim Ameer, have voiced concern that such amendments weaken fiscal accountability and create opportunities for misuse of public resources.

Zariyand has also raised doubts about the capacity of some selected companies, noting that several lack registration or operational history as contractors. He further suggested that, although the projects are described as contractor-financed, financing has been facilitated through the Bank of Maldives at a nine percent interest rate, leaving the state responsible in case of default.

Ameer, who chairs the MDP’s Economic Committee, has said the process undermines established fiscal safeguards and could expose both the government and BML to unnecessary financial risk. He noted that the feasibility of completing the projects within the next two years remains uncertain, given the country’s fiscal constraints.

President Dr Mohamed Muizzu has defended the decision, stating that all contracts were awarded in compliance with the Public Finance Act and that companies met eligibility criteria, including audited financial statements and bank clearance. The Ministry of Finance maintains that the framework is intended to accelerate island development and attract greater private investment in infrastructure.

Despite these assurances, growing scrutiny over procurement procedures and fiscal transparency has intensified political debate. With the MDP preparing to take the issue to court, the government’s largest project allocation to date now faces legal and public accountability challenges.

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