Author: hyvemedia

Bank of Maldives (BML) Islamic has announced a landmark development in the nation’s financial sector, unveiling the first fully funded Shari’ah-compliant corporate financing facility to support the construction of a new luxury resort in Kaafu Atoll’s Kasanfaru Lagoon. The project will see the development of a five-star, 118-room resort by Sentoric Island Pvt Ltd—a joint venture between the prominent Maldivian conglomerate Alia Group and global hospitality brand Atmosphere Hotels & Resorts, which currently operates nine resorts in the Maldives. Describing the initiative as a significant milestone, BML CEO and Managing Director Mohamed Shareef highlighted its broader implications for Islamic finance…

The Governments of Maldives and India have signed 13 Memorandums of Understanding (MoUs) for projects under Phase III of the High Impact Community Development Project (HICDP), funded through Indian grant assistance. The signing ceremony was held at the Ministry of Foreign Affairs, marking a significant step forward in the growing partnership between the two nations. These 13 new projects, with a total grant value of MVR 100 million, are focused on improving ferry services across the Maldives, enhancing inter-island connectivity, and boosting community livelihoods. The MoUs were signed by Minister of Foreign Affairs Dr. Abdulla Khaleel on behalf of the…

Stockholm, Sweden – Klarna, the Swedish fintech company that previously announced artificial intelligence (AI) would largely replace its customer service operations, is now reversing course by resuming the hiring of human customer service staff. Earlier this year, Klarna touted its AI capabilities, particularly its integration of OpenAI-powered chatbots, claiming they could perform the equivalent work of hundreds of agents. The company reported improved efficiency and faster response times due to automation, which it framed as a major step toward a leaner, tech-driven future. However, operational demands and real-world challenges appear to have prompted a strategic pivot. Klarna is now actively…

The Minister of Foreign Affairs of the Republic of Maldives, Dr. Abdulla Khaleel, is currently undertaking an official visit to the State of Kuwait at the invitation of Kuwait’s Minister of Foreign Affairs, Abdullah Ali Al-Yahya. Upon arrival, Dr. Khaleel was warmly received by his Kuwaiti counterpart. During the visit, Foreign Minister Dr. Khaleel is scheduled to hold formal talks with Minister Al-Yahya to reaffirm the longstanding and close brotherly relations between the Maldives and Kuwait—ties that are rooted in mutual respect and a shared Islamic heritage. The discussions will also focus on identifying new areas of collaboration to enhance…

Malé, Maldives – The Maldives is making significant progress in its efforts to reduce carbon emissions and combat climate change, according to Minister of Tourism and Environment, Thoriq Ibrahim. Speaking at the International Zero Carbon Islands and Green, Low-Carbon Development Conference on Monday, Minister Thoriq highlighted a series of ongoing measures to cut emissions and transition towards renewable energy. He revealed that the government aims to reduce carbon emissions to 1.52 million tonnes by the end of this year. “The installation of solar energy systems across various islands is one of the key steps we’re taking,” said the Minister.…

President Dr Mohamed Muizzu has officially appointed Aishath Asna Hamdi as the new Deputy Governor of the Maldives Monetary Authority (MMA), the central banking institution of the country. The appointment was made today under the authority granted to the President in accordance with Section 6(3) of the Maldives Monetary Authority Act 1981 (Act No. 6/81). Asna brings to the role over 17 years of experience in central banking and financial sector development. Prior to her appointment, she served as the Head of Financial Sector Development at the MMA, where she played a key role in shaping policy and advancing financial…

Male – In a reaffirmation of its strong bilateral ties, India has extended crucial financial support to the Maldives by rolling over a USD 50 million Treasury Bill for another year. The move, facilitated through the State Bank of India (SBI), is expected to bolster the Maldives’ ongoing fiscal reform efforts aimed at achieving economic resilience. The Indian High Commission in Male confirmed on Monday that the Treasury Bill, originally issued by the Maldivian Ministry of Finance, has been renewed for a further 12 months at the request of the Maldivian government. This support forms part of an ongoing arrangement…

Bitcoin has once again made headlines by surging past the $100,000 mark, reaffirming its dominance in the digital asset market. As of Saturday, BTC is trading at approximately $103,640, marking a major recovery from its recent dip and igniting optimism across the broader cryptocurrency landscape. Institutional Confidence Powers the Rally One of the primary forces behind Bitcoin’s renewed strength is increasing institutional adoption. Major financial entities, including Coinbase, have made significant crypto acquisitions. The exchange added over 21,000 ETH to its holdings in Q1 2025, pushing its total Ethereum reserves beyond 140,000 ETH, currently valued at more than $315…

Music discovery on Spotify is getting smarter, more personal, and a whole lot more fun. The audio-streaming giant has just announced a new wave of updates and features that are now rolling out gradually — all designed to give users, especially Premium subscribers, more power over how they explore and enjoy their favorite tracks. From upgraded playlist tools to smarter song suggestions and new customization options, Spotify’s latest move is all about putting listeners in the driver’s seat of their musical journey. Smarter Sessions, Seamless Control Premium users can look forward to a revamped Queue experience. The familiar three lines…

First Lady Madam Sajidha Mohamed has issued a powerful call for urgent reforms to the Maldives’ juvenile justice system, urging a paradigm shift from punitive approaches to one rooted in child protection, rehabilitation, and early intervention. Her remarks were delivered at the National Juvenile Justice Conference 2025, where she addressed systemic shortcomings that continue to affect vulnerable children across the country. In her address, the First Lady stressed the importance of addressing the root causes of youth crime, highlighting that many young offenders are themselves long-time victims of neglect, abuse, or institutional failure. She cited real and troubling examples, including…