Author: Mohamed Reehaan

Ooredoo Maldives on Sunday evening, announced its strategic new partnership; the world’s foremost short-form mobile video platform; TikTok. The telecom provider said this collaboration aims to enhance user experiences for customers throughout the Maldives, and is a testament to Ooredoo’s commitment to innovation and customer satisfaction. With this new partnership, Ooredoo customers can now enjoy seamless access to TikTok’s platform through the company’s advanced infrastructure, with super fast internet speeds. Additionally, Ooredoo Maldives introduced exclusive data packs tailored for TikTok users at Sunday evening’s event. “We are delighted to announce our strategic partnership with TikTok, a collaboration that underscores our…

Bank of Maldives (BML) on Monday, reported the national bank generated an operating profit of MVR 708 million for Q1-2024, up 5.7% on the same period last year. The bank saw good business volumes across key sectors during the quarter, and loan book quality continued to improve with MVR 967 million in new loans to individuals and businesses during the period. Capital and liquidity remain solid and well above regulatory requirements, BML added. Total assets at the end of the review quarter stood at MVR 46.3 million. The bank’s network expansion and community investment program continued during Q1-2024 with new…

Villa Park, the luxury-tier tropical escape in South Ari atoll, has been bestowed with the Top Hotel Partner 2023 award by Schauinsland Reisen. The Schauinsland Reisen, is a leading German tour operator that provides services to the Canary Islands, the Balearic Islands, Greece, Turkey, Egypt and the Caribbean along with Asia and others. This award distinguishes Villa park as one of the top hotel partners globally, and highlights its dedication to providing outstanding service and guest experience. The Top Hotel Partner Award presented by Schauinsland Reisen underscores tourism and hospitality sector excellence by celebrating hotels that consistently deliver top quality…

Hard Rock Hotel Maldives announces the highly anticipated Summer Camp-Cation 4.0, combining “the exhilaration of a family vacation with an electrifying kids’ camp program”. The annual event promises to be the ultimate holiday experience for families seeking adventure and relaxation, available at the resort from July 01 to August 31, 2024. The Summer Camp-Cation at the Hard Rock Hotel Maldives embodies the spirit of “Play Hard, Pause Hard”, offering families the opportunity to connect, recharge, and make unforgettable memories together. The Summer Camp-Cation features a diverse range of activities designed to “ignite the imagination and unleash the creativity” of young…

The Minister of Finance Dr. Mohamed Shafeeq met with the Acting Director General of the Islamic Development Bank Institute (IDBI) Dr. Sami Al-Suwailem on Sunday. Besides the Minister of Finance, the Minister of Islamic Affairs Dr. Mohamed Shaheem Ali Saeed was in the meeting as well. During this meeting, the ministers discussed on the development of the Islamic finance sector in the Maldives. Dr. Al-Suwailem underscored the importance of human capacity development and the engagement of youth. Minister Shafeeq was accompanied by Hussain Sham Adam, Deputy Minister of Finance along with other senior officials of the ministry.

The government of Maldives confirmed on Sunday, the Flat Committee’s works will conclude before the development of the housing flats complete in Hulhumale’ Phase II. This was confirmed by the Chief Spokesperson of the President’s Office Heena Waleed during a press conference, where she responded to media questions about the social housing scheme that is currently sluggish. She noted that some of these flats and towers are still under development, Heena said the committee’s works are expected to conclude soon. “We noticed several issues from the feedback provided by ACC. Work on the flats have not concluded, but the committee’s…

The first ‘Go Ahead’ nod under the Special Economic Zone (SEZ) Act has been provided to the development of a floating solar panel system in the Greater Male’ region. The initiative was approved during Ministry of Economic Development and Trade’s Board of Investment’s third meeting, held on Wednesday, April 24th, 2024. According to the ministry, the project was awarded to Canada’s Abraxas Power Corp, which will execute the initiative in partnership with Sungrow Power Supply Co Limited. Under the initiative, a 150-megawatt floating photovoltaic (PV) power plant and supporting infrastructure would be developed. Moreover, the ministry said additional finance will…

Housing Development Corporation (HDC) on Wednesday, has awarded the contract to a foreign company towards the development of a smart and sustainable warehouse complex in Hulhumale’. HDC signed the agreement with Rotime Engineering and Technology Co Limited for the development project, under which a smart warehouse complex will be developed to provide sufficient storage space for local small to medium enterprises. HDC Managing Director Ibrahim Fazul Rasheed signed the contract on behalf of the client and Rotime’s Managing Director Zhou Weidong signed on behalf of the contractor. The project, a contractor basic-financed initiative, will be completed within two years, HDC…

Maldives Customs Service reports a significant 64% export decline for the month of March 2024. According to Customs in its most recent statistics, exports for March 2024 reached MVR 124 million compared to an MVR 344 million in the same month last year. Imports, inclusive of fuel, rose 4% registering a total of MVR 4.4 billion, but excluding fuel, imports saw a decline of 4%, registering MVR 3.4 billion. The month is not favorable for Customs in terms of revenue as well, since it observed a 3% decline; reaching MVR 320 million compared to the MVR 330 million in the…

After failing to secure sufficient land in the southern city, Business Center Corporation (BCC) has once again launched efforts to develop a garment factory in Addu City, said Minister of Economic Development and Trade Mohamed Saeed. While speaking about the government’s economic policy and agenda on a ‘Sangu TV’ program, Saeed said the plot required for the factory has been assigned now. He added BCC management has begun efforts to launch the development project already. BCC previously attempted to establish the factory in Addu, but was not able to proceed since it failed to get the land needed for the…