Author: Mohamed Reehaan

Civil Court of the Maldives has declined to grant an interim injunction to delay the lease of Vaavu atoll Fohtheyo lagoon. After Maldives government announced leasing Fohtheyo lagoon, the largest in the country, Vaavu atoll council intervened the decision. The council said that the state can only lease the lagoon in accordance with the council’s regulations. Following this, the council sought an injunction through Civil Court to halt the leasing. Civil Court on Sunday, August 6, ruled that according to the Maldives Civil Procedure Act, an injunction can be issued in the absence of the claimant under specific circumstances. Court…

The application submission window to submit proposals under the Bank of Maldives (BML) Community Fund initiative will expire on Thursday, August 10, 2023. This is the second round of applications opened for the fund in 2023. The Community Fund is open to applications from registered non-governmental organizations (NGOs) in Male’ City and residential islands. BML reports NGOs have the opportunity to submit proposals in the areas of environment, education, sports, and community development. The successful 10 proposals will receive funding up to MVR 50,000 to execute their proposed projects. BML launched its Community Fund initiative to enable local NGOs to…

Regional Airports Company Limited (RACL) operated Hoarafushi Airport in the upper-northern atoll of Haa Alif introduces night flights. RACL Managing Director Mohamed Rizvi officiated the inauguration of the night flights to the airport. Speaking at the ceremony, Hoarafushi island council’s president Mohamed Waheed said the introduction of night flights to the airport will address the challenges faced by the locals in the atoll. He also highlighted issues like deferment of emergency flights until morning for medical purposes. At the ceremony, Rizvi highlighted the economic advantages of initiating night flights. “Along with the addition of night flights, the number of tourists…

The Maldives government has collected a total revenue of MVR 5.19 billion in Q2-2023, a 2.4% drop compared to the same quarter in 2022. Despite this drop, revenues collected to the government was a 5.8% increment compared to initial projections. According to the Maldives Inland Revenue Authority (MIRA), the decline in Q2-2023 compared to the same quarter last year was mainly due to the drop in the collections of the Corporate Income Tax, Lease Period Extension Fee, Tourism Land Rent, and Land Acquisition and Conversion Fee. Lease Period Extension Fee had not been collected since January 2023. Additionally, from January…

The year-to-date total of state expenditure reached MVR 25.7 billion as of July 27, 2023, according to the Ministry of Finance. According to the ministry, the cumulative total of revenues inclusive of foreign grants reached MVR 18.9 billion as of the review date. The overall balance for the period is a deficit of MVR 6.8 billion. So far, the Maldives government has collected MVR 14.2 billion in tax revenues and MVR 4.4 billion in non-tax revenues. The capital receipts is at MVR 3.5 million and grants have reached a total of MVR 251.6 million. State has spent MVR 17.7 billion…

State Trading Organization (STO) opened the first ever cashier-less convenient store in the Maldives in July 2023. The STO Smart Store is the first-of-its-kind grab-n-go concept-based retail outlet in the Maldives, where consumers are no longer required to wait at the checkout counter for grueling hours. Here’s a look at the most important highlights of the store a week since its opening; Average time spent by customers inside the outlet: 317 seconds (maximum number of customers allowed at one time: 6) Average time spent on transactions: 3 seconds Total downloads of the STO Smart Store App: 2,700 Out of the…

Maldives Marketing and Public Relations Corporation (MMPRC) has concluded an exclusive media familiarization trip for top Indian influencers held from July 15 to 22. The Indian entourage consisted of top five influencers and one PR representative who showcased the unparalleled charm of the Maldives through their social media presence and online platforms. During their stay in the Maldives, the team indulged in signature cuisines and experiences in world-class properties including Pullman Maldives, Movenpick Resort Kuredhivaru, and Cinnamon Velifushi Maldives.

State Trading Organization (STO) has begun a special promotion on ‘Al-Noor’ dry milk products. Al-Noor is produced by Oman Foodstuff, a leading milk manufacturer in the Middle East. STO wholesales and retails 800 grams, 1,800 grams, and 2,250 grams of Al-Noor milk through its outlets. STO launched the special promotion for its wholesale and retail customers on August 2, 2023. Under the promotion, retail customers will receive a Al-Noor branded glass for every purchase of the milk. Wholesale customers will receive a SuperChef mayonnaise case for three cases of 1,800 grams Al-Noor milk, and a Nabati Richeese cheese case for…

Fahi Dhiriulhun Corporation (FDC) has contracted India’s Kalpataru Projects International Limited (KPIL) to develop an additional 4,000 housing units in Hulhumale’. KPIL is an industry leader in oil and gas, energy and infrastructure in India. It’s subsidiary, JMC, is currently developing 2,000 housing flats in Hulhumale’ Phase 2, which was contracted by FDC as well. The signing for the 4,000 housing units development was signed between FDC Managing Director Salfiyya Anwar and KPIL’s Country Head to the Maldives Sarwajeet Singh. The housing project will be carried out in two phases, with 2,000 units developed in each. Each 2,000 housing units…

Amari Raaya Maldives has officially opened its doors to welcome its first batch of guests. The exclusive opening event was attended by the resort’s management team along with Atul Chordia, Chairman and Panchshil Realty, the developer behind the property. Amari Raaya promises to be a timeless sanctuary for travelers seeking unforgettable escape in the Maldives. Atul Chordia and the Yuthachai Charanachitta, the ONYX Hospitality Group’s CEO marked the official opening of the resort by cutting the ribbon. The new luxury resort comes with 187 villas offering a variety of luxurious experiences including beach and beach pool villas, and interconnecting family…