Author: Mohamed Reehaan
Maldives is renowned for its stunning coral atolls and luxurious resorts. Beyond the natural beauty, Maldives is also home to a rich cultural history that often gets overlooked. One such historical aspects of the Maldives is the legacy of Borah merchants. These traders from the Indian subcontinent played a significant role in shaping the economic and cultural landscape of the Maldives. Origins of the Borah Merchants The term “Borah” refers to a Muslim trading community originally hailing from the Gujarat region of India. They were known for their mercantile skills and strong business acumen. The Borah community comprises Sunni and…
By now you all would have heard about cryptocurrencies at the very least. Some of you are now well-versed in it, and some of you have already begun trading with crypto-assets. Some of you probably have digital wallets installed with floating cryptocurrency balances. But there are still several of us who do not understand the makings and machinations of the digital-age currency. What is Cryptocurrency? It is like digital money, and just as you use regular cash or credit cards to make transactions in the physical world, you can use cryptocurrency to purchase goods and services in the digital world.…
Maldives Inland Revenue Authority (MIRA) reports a total revenue of MVR 1.60 billion to the government in August 2023, a 21.0% increment from the same month in 2022. The authority said this increment was largely due to the increase in the collection of Tourism Goods and Services Tax (TGST), General Goods and Services Tax (GGST), Tourism Land Rent and Airport Taxes and Fees. Tourist arrivals for July 2023 had increased by 9.0% compared to the corresponding month in 2022, which led to the increment in collection of tourism-related revenues. Despite the increment in the revenues, it was still 7.7% below…
Dhiraagu introduces Plug-and-Play 5G Turbo WiFi providing high-speed 5G connectivity for the customers at home and anywhere they go. Prepaid and postpaid packages are available with the 5G Turbo WiFi device. Customers can opt for different packages that come in varying prices and data allowances. Special boosters are available for customers who prefer higher-speeds. Dhiraagu noted that the unused data allowance will be carried forward up to one month with the data rollover benefits.
Maldives government announced fully-funded scholarship opportunities for interested students to pursue higher education in inclusive education. Four slots for Masters of Autism and three slots for Masters of Educational Assistive Technologies are for study based in the United Kingdom. Ministry of Higher Education said the scholarships were offered to train and develop teachers required to deliver special education under the inclusive education policy of the government. Eligible applicants should have completed Bachelors Degree in a related field and have two years of teaching experience in a state-run school. Application deadline is 13:30hrs on October 5, 2023. Applicants are required to…
Urbanco has recently announced that the transport of electric vehicles across the channel between Hulhumale’ 1 and Hulhumale’ 2 are restricted with the exemption of jet skis. The two towns are connected via overwater bridges that run across the channel. Urbanco said that the channel is now reserved primarily for swimming activities and added that water sports activities, canoeing and jet skis are welcome in the channel. It said the decision was motivated to preserve the area’s tranquility and safety.
Litus Maldives is facing a lawsuit from Maldives Pension Administration Office (MPAO) after the former failed to deposit over MVR 293,000 in pension for its employees. Civil Court on September 13, issued an order which highlighted the company had not deposited pensions for its employees since April 2020 until February 2021, and against from May 2021 until October 2022. The company also failed to settle SPC on the overdue amount during the period. The court order said Litus Maldives owed MVR 293,450.94 to MPAO after deducting non-reconciliated amount. The lawsuit demanded Litus to pay the fine for the outstanding pension…
The cumulative total of state expenditure reached MVR 32.1 billion as of September 21, 2023. The cumulative total of state revenues, inclusive of foreign grants, reached MVR 23.9 billion by the review period. The overall balance for the period is a deficit of MVR 8.2 billion. The cumulative total of tax-revenues as of September 21 reached MVR 17.9 billion whereas in the corresponding period last year, the total stood at MVR 14.6 billion. On the other hand, cumulative total of non-tax revenues reached MVR 5.7 billion while in the same period in 2022, the total stood at MVR 5.4 billion.…
Maldives President Ibrahim Mohamed Solih has pledged 300 housing flats for individuals employed in the tourism industry for over 15 years. State Minister of the Ministry of National Planning, Housing, and Infrastructure (MNPHI), Akram Kamaluddin said that providing long-term housing solutions for employees in the tourism industry is crucial part of the incumbent president’s manifesto. “It is a pledge of the president to provide housing solutions for tourism industry employees,” Akram said. The government previously facilitated a minimum wage for employees in the tourism industry, a development that came in response to ongoing appeals from employees of the sector. Akram…
State Electric Company (STELCO) Managing Director Ahmed Shareef assured a 30-50% reduction on electricity bills once power band is changed to a flat rate. The utility provider’s move is a result of Maldives President Ibrahim Mohamed Solih’s pledge to place a flat rate on electricity bills regardless of consumption. The change will be effective nationwide. Speaking about this, Shareef said the most common customer complaint was the surge in electricity bills during the hot season. He added that the issue would be resolved with the flat-rate pricing decision. The STELCO MD also said that seven bands were allocated for residences…