Author: Mohamed Reehaan

Bank of Maldives (BML) shareholders have approved a record total dividend payout of MVR 269 million at MVR 50 per share, at the Bank’s Annual General Meeting on Tuesday evening. Speaking at the meeting, BML’s Chief Executive Officer and Managing Director Karl Stumke commented, “This total dividend payout stands as the largest in our bank’s history as we achieved our best-ever performance in 2023.” “I thank our customers for their continued loyalty and we are committed to continuously improving your experience with us and making banking with us as seamless and convenient as possible.” Stumke added that the bank will…

Maldives Marketing and Public Relations Corporation (MMPRC/Visit Maldives) and Weixin Pay signed a three-year memorandum of understanding (MoU) at the recent ITB China 2024. The MoU was signed between MMPRC Deputy Managing Director Zihuny Rasheed, and Weixin Pay’s Country Manager, Singapore and Regional Director, Southeast Asia Etienne Ng. With this arrangement, MMPRC pledges to support more Maldives merchants to accept payments made via Weixin Pay – aimed at enhancing convenience for Chinese tourists. “China is a key source of tourists for the Maldives, and we greatly value the experience of Chinese visitors, Zihuny said and added, “We plan on promoting…

Maldives has urged the Commonwealth to expand its role and involvement in supporting Small Island Developing States (SIDS). Maldives President Dr. Mohamed Muizzu made the appeal during a meeting with Patricia Scotland, the Secretary General of Commonwealth on Tuesday, which took place in Antigua and Barbuda on the sidelines of the 4th International Conference on SIDS. While the two discussed on prevalent issues to SIDS and other small states in the Commonwealth, he had acknowledged the organization’s assistance in fields of sports, youth empowerment, education, environment and technology. Scotland applauded Maldives for its strong and valuable leadership on critical issues…

The Maldives Minister of Tourism Ibrahim Faisal has highlighted the strong relationship between the Maldives and China at the ITB China 2024 trade fair. The minister made this statement while speaking at the Maldives Media Meet hosted by the Maldives Marketing and Public Relations Corporation (MMPRC) on the sidelines of the ITB China in Shanghai, China. Minister Faisal stressed China’s position as the top-ranked tourism market to the Maldives, and noted the importance of further strengthening connectivity through additional direct flights from various regions in China. “The recent launch of direct flights from Fujian is a significant step forward, and…

LUX* South Ari Atoll has won big at the Hotel Asia Culinary Challenge 2024 held from May 13 to May 15. The event, featuring a record-breaking 692 participants from 71 resorts across Indian Ocean region, is an acclaimed platform for showcasing culinary excellence. At the event LUX* South Ari Atoll secured the coveted title of the Most Outstanding Chef by the resort’s Senior Sous Chef Barun Kumar Singh, and landed a total of 31 awards – 6 gold, 8 silver, 8 bronze, and 8 merit certificates. “We are incredibly proud of our culinary team’s outstanding performance at the Hotel Asia…

Maldives President Dr. Mohamed Muizzu has called for financial architecture reforms and avenues for partnership for Small Island Developing States (SIDS) to enable easier access to finance to reach Sustainable Development Goals (SDGs). President Muizzu made the remarks in his keynote address at the high-level meeting on Resource Mobilization for SIDS at the 4th International Conference on SIDS (SIDS4) held in Antigua and Barbuda. In his keynote address, President Muizzu remarked that numerous SIDS, including the Maldives, that have graduated from the Least Developed Countries (LDC) category pay a hefty price tag, considering the increase in the cost of borrowing…

Bank of Maldives (BML) Islamic on Monday, introduced the country’s first-ever Shari’ah compliant Credit Card. The new BML Islamic Credit Card, running on the American Express network, was launched on Monday with a host of local and international benefits for card members. This includes exclusive savings on booking.com and offers on dining experiences. The new Islamic Credit Card also offers installment payments through BML EasyPay. The new card is offered based on the principle of Ujrah, the concept of charging an agreed fee for providing services to a customer. Customers may also register for the BML Rewards program, and earn…

Maldives Marketing and Public Relations Corporation (MMPRC) under the Visit Maldives brand, along with 45 travel and tourism companies and 100 representatives are showcasing the ‘Sunny Side of Life’ at the ITB China 2024. The Maldives is the “Official Partner Destination” for this prestigious event that launched on Monday, May 27, and will run until Wednesday, May 29, at the Shanghai World Expo Exhibition & Convention Center, China. ITB China is amongst the leading exclusive trade shows with a main focus on the Chinese travel market. The event brings together top and hand-selected buyers from Greater China and Chinese industry…

The world’s longest-serving flight attendant has died from cancer at the age of 88, reports Business Insider. In a statement on X, American Airlines said: “We mourn the passing of Bette Nash, who spent nearly seven decades warmly caring for our customers in the air.” “She started in 1957 and held the Guinness World Record for longest-serving flight attendant. Bette inspired generations of flight attendants. Fly high, Bette,” the post continues. It was also reported that Nash never officially retired from her role with American Airlines. She passed away in hospice after a recent breast cancer diagnosis, according to reports.…

Oil prices dropped lower earlier on Friday amid ongoing concerns about the timing of the first interest rate cut by the US Federal Reserve (Fed), as well as the lower demand outlook in the US, and market players being cautious ahead of the Organization of Petroleum Exporting Countries (OPEC) meeting. It was reported that international benchmark Brent crude traded at USD81.13 per barrel, which is a fall of 0.28% from the closing price of USD 81.36 per barrel in the previous trading session. The American benchmark West Texas Intermediate (WTI) on the other hand, traded at USD76.61 per barrel at…