Author: hyvemedia
Vice President Uz Hussain Mohamed Latheef has underscored that the fight against corruption is not merely a legal obligation but a moral duty that protects the rights of every citizen. He made these remarks during the opening ceremony of the International Forum on Integrity 2025. Addressing a gathering of more than 180 participants, including representatives from anti-corruption organisations of Organisation of Islamic Cooperation (OIC) member nations, the Vice President highlighted the significance of this year’s forum theme: “Strengthening Integrity and Combating Corruption in the Tourism Sector.” He described it as both timely and highly relevant. He stressed that integrity and…
The Government of Maldives has officially signed agreements with Dubai-based MBS Global Investment to launch the Maldives International Financial Center (MIFC)—a landmark USD 8.8 billion project poised to reshape the nation’s economy and establish it as a leading financial hub in the Indian Ocean. According to PSM News, the signing ceremony took place at Kurumba Maldives, attended by high-level dignitaries including President Dr Mohamed Muizzu. Finance Minister Moosa Zameer signed on behalf of the government, while Chairman Marwan Alhajeri represented MBS Global Investment. The agreements cover two major components: the development of a dedicated financial business district in Malé and…
His Excellency Kong Xianhua, the newly appointed Ambassador of the People’s Republic of China to the Maldives, officially presented his Letters of Credence to President Dr Mohamed Muizzu at a formal ceremony held this morning at the President’s Office. Ambassador Kong was ceremonially escorted from Republic Square to the President’s Office in a traditional “Haiykolhu” cultural procession, accompanied by the MNDF Drum and Trumpet Band, reflecting the importance of the diplomatic occasion. After the presentation of credentials, President Muizzu warmly welcomed the Ambassador to the Maldives and held discussions on areas of mutual interest. During the meeting, Ambassador Kong reaffirmed…
Vice President Uz Hussain Mohamed Latheef attended the closing ceremony of the National Volleyball Championship 2025 – Women’s Division, where Club WAMCO emerged victorious after an intense final match against Police Club. Upon his arrival at the event, the Vice President was welcomed by Minister of Sports, Fitness and Recreation, Abdulla Rafiu, along with the President of the Volleyball Association of Maldives, Mohamed Latheef. The highlight of the evening was the fiercely contested final between Police Club and Club WAMCO, culminating in WAMCO’s triumph as the new national champions. Following the match, Vice President Latheef took part in the official…
In the fast-evolving world of global trade, timing is everything. And for the Maldives a small island nation with a mighty strategic location the clock is ticking. Positioned near one of the most critical shipping lanes in the world, the Maldives has the rare chance to redefine its economic landscape by developing a container transit port. But while global powers like China, India, Russia, and Turkey are busy securing their places in the new maritime order, the Maldives risks watching the opportunity sail away if it doesn’t act now. A Strategic Location With Global Relevance Let’s start with the basics.…
As the Maldives accelerates its transition to a fully digital government, an implementation plan is being developed to ensure the continuity of government operations and communication during crises. The initiative aims to safeguard essential public services against disruptions caused by natural disasters, cyber threats, and other emergencies. The National Center for Information Technology (NCIT), under the Ministry of Homeland Security and Technology, has established a communications infrastructure to support government offices in this digital shift. To reinforce this system, the Ministry is now formulating a robust plan for disaster recovery and business continuity. This effort falls under the World Bank-funded…
President Dr Mohamed Muizzu has declared the Maldives International Financial Centre (MIFC) as a bold national legacy, driven by courageous partnerships and a strong sense of purpose. Speaking at the joint venture agreement and Memorandum of Understanding (MoU) signing ceremony held Sunday night, President Muizzu highlighted the MIFC as a turning point in the nation’s economic journey. The high-profile event, attended by several international dignitaries and distinguished guests, marked the formal beginning of an ambitious initiative to transform the Maldives into a regional financial powerhouse. President Muizzu described the establishment of the MIFC as a declaration of intent — to…
Professor Dr Frank Stangenberg-Haverkamp, Chairman of the Merck Foundation Board of Trustees and Former Chairman of the Executive Board of E. Merck KG, together with Senator Dr Rasha Kelej, CEO of the Merck Foundation, met with First Lady Madam Sajidha Mohamed this evening at the Official Residence of the President, Muleeaage. The high-level meeting focused on exploring potential areas of collaboration between the Merck Foundation and the Government of Maldives to strengthen the country’s healthcare sector. Professor Dr Stangenberg-Haverkamp and Senator Dr Kelej presented various initiatives offered by the Foundation, including scholarship opportunities and specialised training programmes for doctors to…
The State Trading Organization (STO) has reported stable financial and operational performance in the first quarter of 2025, despite a decline in net profit due to falling global oil prices. The company’s Q1 results were officially published on April 30 via its corporate website. According to the report, STO recorded a total revenue of MVR 4.02 billion, representing a 4.6% increase from the MVR 3.84 billion reported in Q4 FY2024. While this marks quarter-on-quarter growth, the company acknowledged a year-on-year revenue dip, primarily due to the stabilization of international oil prices following a surge in early 2024. Despite the impact…
State Trading Organization plc (STO), the Maldives’ leading public enterprise, has released its Q1 2025 financial and operational report, reflecting a steady performance despite global market fluctuations and fuel price normalization. Financial Highlights and Resilience STO recorded revenue of MVR 4.02 billion in the first quarter, marking a 4.6% increase from the previous quarter, though representing a 10.6% decline compared to Q1 2024 due to stabilizing global fuel prices. Fuel operations remained the cornerstone of revenue, contributing over 81% to the topline, with non-fuel sectors such as healthcare, construction, and trading also showing steady contributions. Despite lower gross profit (MVR…