Author: hyvemedia
Global fuel and gas prices have soared in recent weeks due to escalating tensions and ongoing conflict in the Middle East, causing ripple effects across international markets. High-grade refined petrol and diesel imported into the Maldives have seen significant price increases, prompting public concern over potential fuel shortages. Despite these concerns, the State Trading Organization (STO) has confirmed that there is currently no shortage of fuel in the country. STO is actively arranging new gas shipments to meet demand, while its subsidiary, Maldive Gas, has temporarily limited gas sales due to heightened consumption. Local fuel prices have been adjusted to…
The International Energy Agency (IEA) has outlined urgent strategies to ease escalating oil prices as ongoing conflict in the Middle East disrupts global supply, triggering what the agency calls the largest oil market disruption in history. The crisis has severely impacted energy flows through the Strait of Hormuz, a vital channel for nearly one-fifth of the world’s oil and liquefied natural gas (LNG) exports. Attacks on infrastructure and halted shipping have sharply curtailed tanker traffic, sending oil prices surging and intensifying inflationary pressures worldwide. The IEA estimates that global oil supply has been reduced by approximately 10 million barrels per…
The World Trade Organization (WTO) has projected a slowdown in global trade growth for 2026, warning that geopolitical tensions and energy market volatility could weigh heavily on the global economy. In its latest Global Trade Outlook and Statistics report, the WTO forecasts global merchandise trade growth to ease to 1.9% in 2026, a sharp decline from the stronger-than-expected 4.6% recorded in 2025. Growth is expected to recover modestly to 2.6% in 2027 under baseline conditions. The report notes that global trade showed resilience in 2025, supported by strong demand in emerging markets, policy support in advanced economies, and increased trade…
President Mohamed Muizzu has attended the groundbreaking ceremony for 1,224 housing units in Hulhumale’, marking a significant step in the Affordable Housing Project initiated by the Bank of Maldives (BML) under the Administration’s strategic housing policy. The ceremony took place at the Hulhumale’ Phase II site managed by China Machinery Engineering Corporation (CMEC), the project contractor. The President was accompanied by First Lady Sajidha Mohamed, alongside Cabinet Ministers and senior officials from CMEC and BML. The official groundbreaking was carried out by Minister of Construction, Housing and Infrastructure Abdulla Muththalib, Ambassador of the People’s Republic of China to the Maldives…
Allied Insurance Company of the Maldives has launched a new promotional campaign titled “Allied iPhone Drop,” offering participants the chance to win the latest iPhone 17 Pro Max. The giveaway campaign runs from 10 March to 10 April 2026 and is open to users of the Instagram platform who follow the company’s official page. To participate in the promotion, users must complete three steps: Follow the official Allied Insurance Instagram page @allied.mv Tag six friends in the comments of the campaign post Share the post to their Instagram Story Participants are allowed to comment multiple times to increase their chances…
President Dr Mohamed Muizzu hosted a special luncheon on Monday at Hotel Jen for the visiting Palestinian Under-17 national football team, who are currently in the Maldives for a training camp. The event was also attended by First Lady Sajida Mohamed, Minister of Sports, Fitness and Recreation Abdulla Rafiu, Football Association of Maldives (FAM) President Ahmed Thoriq, and senior government officials. The gathering underscored the Maldives’ continued solidarity and unwavering support for Palestine. During the luncheon, the young footballers and their officials expressed deep gratitude to the Maldivian government and people for offering them a safe haven for their 10-day…
First Lady Sajidha Mohamed met with volunteers from the Japan International Cooperation Agency’s (JICA) Japan Overseas Cooperation Volunteers (JOCV) programme this morning at the Official Residence of the President, Mulee’aage. Her Excellency Ishigami Rumiko, Ambassador of Japan to the Republic of Maldives, and the Director of JICA accompanied the JOCV delegation during the visit. At the meeting, JOCV volunteers shared their experiences working across various islands, where they teach in local schools and collaborate with communities. They highlighted their involvement in health and physical education, including handball, baseball, and athletics. The volunteers also contribute by teaching music and vocational skills…
President Dr Mohamed Muizzu has announced that the government has settled USD 28.8 million in outstanding payments owed to private companies for completed infrastructure projects carried over from the previous administration. Speaking at the ruling People’s National Congress (PNC)’s “Dhivehinge Raajje” rally on Friday night, President Muizzu said the current government began clearing the backlog of unpaid bills on 6 November. Since then, payments have been made for 1,040 pending invoices. “We will not stop until all bills have been cleared. We are working to revive the economy without resorting to printing money,” he said, emphasising the administration’s fiscal discipline…
The Cabinet has approved administrative measures to conduct a referendum on the jurisdiction of Addu City, following a petition from some residents requesting changes to the composition of the Addu City Council. The decision was made in accordance with the Public Referendum Act (Law No. 15/2025). The referendum will determine whether separate councils should be established for Addu Feydhoo, Addu Hulhudhoo and Addu Meedhoo. Voters will also decide whether to create a single council – Addu Hulhumeedhoo Council – to administer both Addu Hulhudhoo and Addu Meedhoo. The vote will be open to all registered voters in the constituency and…
The Cabinet has decided to move forward with the National Housing Affordability and Accessibility Project, designed to improve access to affordable housing across the Maldives. The project aims to provide a sustainable, long-term solution to the country’s housing challenges and to help foster a more affordable housing market. Key measures under the project include: Creating opportunities for developers to construct affordable housing units at their own expense, with special concessions offered to participating developers. Introducing a dedicated end-user mortgage scheme, developed in consultation with banks, to facilitate access to financing for individuals purchasing housing units under the project. Developing housing…