Author: Mohamed Reehaan
The Maldives President Dr. Mohamed Muizzu has called India an “invaluable partner.” President Dr. Muizzu reaffirmed his administration’s full commitment to strengthening the historic and close connections between the Maldives and India. He made these remarks while speaking at the ceremony held on Saturday at the President’s Office to hand-over the completed water supply and sewerage facilities on 28 islands. The projects were funded by the Indian government’s Line of Credit facility through EXIM Bank of India. President Muizzu highlighted that these initiatives would provide significant economic benefits, boost the local economies, and contribute to the country’s prosperity. He also…
The Maldives Monetary Authority (MMA) has announced seeking eligible applicants for the five Managing Directors positions that were recently introduced to the central bank’s hierarchy. The Maldives central bank made the announcement on Thursday via the state gazette, announcing that it was seeking capable, educated, and experienced applicants for the roles. Eligible applicants of both genders are welcome to apply, MMA said in the announcement. The Managing Directors will be appointed to the following areas: Monetary Policy, Research and Statistics Financial Stability Banking Operations Corporate Service Financial Sector Development MMA also confirms that the MD position’s duration is two terms…
The Maldives tourism board, Maldives Marketing and Public Relations Corporation (MMPRC), will be operating at a budget of USD 20 million in 2025, said Minister of Tourism Ibrahim Faisal. Faisal said this at the press conference held on Thursday to highlight the success of the recently concluded “Welcome India” 3-City Roadshow aimed at boosting arrivals from the top source market from 2020 to 2023 and encouraging the market to reclaim its spot among top source markets. While MMPRC has a budget allocation of USD 10 million, Faisal said the tourism board does not raise anywhere near the amount but said…
Fenaka Corporation and Villa College on Thursday signed a memorandum of understanding (MOU) that aims to facilitate capacity development and training programs for the utility provider’s employees. Villa College will be conducting courses, training programs and other relevant programs to empower and develop the skills of Fenaka Corporation’s employees. In addition to this, the college will also assist in conducting research into the energy sector that will be used as guidelines in making crucial policies related to the sector. “Besides training programs, employees will receive certification in compliance with the URA standards under the agreement,” Fenaka said. Fenaka Corporation’s Managing…
The Maldives government has shared its plans to boost annual tourist arrivals from each of the top source markets to one million within the next five years, said Minister of Tourism Ibrahim Faisal. He said this while speaking at the press conference on Thursday, highlighting the recent success of the “Welcome India” 3-City Roadshow held by the Maldives Marketing and Public Relations Corporation (MMPRC), NHGAM, and MATATO. At the press conference, Minister Faisal expressed hope that India will reclaim its spot among the top three source markets for the Maldives by the end of 2024. With President Dr. Mohamed Muizzu’s…
The State Trading Organization (STO), has announced plans to develop a new 25-story multi-purpose building. The project, reportedly worth MVR 18 million, will feature various facilities and spacious working spaces for STO employees. STO on Tuesday announced that interested parties can now submit their expression of interest (EOI) for the project, with the deadline on this on August 13, 2024. This will be an engineering, procurement, and construction (EPC) model project with a contractor-financing approach. STO will be injecting 15% equity for the project. The new building will be situated next to the STO head office in Male’ City and…
The Maldives Islamic Bank (MIB) has announced it will be providing information to interested visitors about financial options to purchase homes at the Living Expo 2024. MIB, one of the exhibitors of this year’s Living Expo, confirmed it will provide said information through its stall at the event that kicks off this Thursday until Saturday at the Central Park, Hulhumale’. The Living Expo 2024 will be open from 16:00hrs until 18:00hrs and then again from 20:00hrs until 23:00hrs. MIB promises it will provide all the relevant and up-to-date information about housing financing facilities available at the bank. Interested parties looking…
Ooredoo Maldives has announced the inaugural Ooredoo Nation Global Faceoff, a thrilling Rocket League tournament that “pits the best teams” from the Maldives and Qatar against each other. The hotly anticipated event will feature intense 3 vs. 3 matches that promise an “electrifying display of skill, strategy, and teamwork.” This tournament also coincides with and is part of Ooredoo Maldives’ 19th anniversary and comes with a prize pool of USD 1919 for the winning teams. The tournament’s group stage matches will kick off on August 8th and continue on 9th, with the playoffs culminating on August 10th. Gamers and fans…
The State Trading Organization (STO) has reported a decline in its revenue, operating profit, and net profit for the second quarter of 2024. According to Shimad Ibrahim, the Managing Director of the country’s largest state-owned enterprise (SOE), this decline is primarily owed to the low tourism activity during the quarter, which coincides with the tourism industry’s low season. STO generated a revenue of MVR 3.47 billion in the second quarter of this year, which is lower than the quarterly earnings of MVR 4.49 billion in the first quarter of 2024 and a moderate decline from MVR 3.78 billion in Q2-2023.…
Maldivian, the country’s national carrier, has announced the cancellation of flights to Dhaka. The airline on X said that “due to the emerging situation in Bangladesh” it would not be operating to Bangladesh, and subsequently announced the cancellation of the scheduled flight to and from Dhaka on August 06, 2024. Maldivian further said that it was “closely monitoring the situation” and remains committed to providing support to the passengers. “The safety of our passengers and crew remains our most important priority,” Maldivian said on X. Bangladesh Prime Minister Sheikh Hasina resigned and fled the country on Monday after protesters in…