Author: Mohamed Reehaan
The government of Maldives has signed a Memorandum of Understanding on Political Consultation and a Visa Waiver Agreement with the government of Guyana. The agreement was signed between Hugh Hilton Todd, the Minister of Foreign Affairs and International Cooperation of Guyana and Ahmed Khaleel, the Minister of State for Foreign Affairs. The MoU aims to promote and encourage political consultation between the Maldives and Guyana to strengthen relations and enhance communication and coordination on important international issues. The Visa Waiver agreement will facilitate visa free travel of citizens of both countries. Immediately following the agreement signing, the two ministers engaged…
The Maldives Transport and Contracting Company (MTCC) has launched the “Hunavaru Welders” Development Program. The program will be held at the MTCC Shipyard in Thilafushi for a duration of three to six months. Interested applicants can apply for the program by scanning the QR code of MTCC’s relevant post on Twitter. MTCC also said the program includes an allowance of MVR8,000 for its participants.
Bank of Maldives (BML) on Tuesday, September 19, announced a new promotion for customers sending money overseas via its International Money Transfer service. Three grand price winners of the promotion will be awarded MVR 15,000 and will be chose by a draw conducted at the end of the promotion period. Additionally, weekly winners will be chosen by a draw every week during the promotional period with the winners standing to win; For transactions below USD 500 – three winners will receive a gift card of MVR 750 For transactions of USD 501 to USD 1,000 – three winners will receive…
Forex market manipulation refers to the illegal or unethical practices undertaken by individuals or entities to influence the foreign exchange (Forex) market, where such practices benefit them at the expense of other market participants. This manipulation can take various forms and can be executed by different market participants which include traders, financial institutions, or even governments sometimes. Here are some of the ways the forex market is known to experience manipulation; Price Fixing Collusion of traders with others to artificially fix exchange rates at specific levels. Traders or financial institutions may communicate with each other to coordinate their trades in…
Nova Maldives will undergo a magical transformation, turning into an underwater-inspired paradise for guests seeking a “truly unique holiday experience”. From December 22, 2023 to January 6, 2024 guests at Nova Maldives are invited to immerse themselves into the enchanting world of “Aqua Utopia”. At one of the youngest tourist properties in the Maldives, this holiday season will kick off with the sparkling Christmas Tree Lighting ceremony, setting the mood for the remainder of the festive period. Nova offers a culinary journey from exquisite gala dinners beneath the starry sky to ocean-themed parties, authentic Japanese cuisine, island-style barbecues, and wine-pairing…
Avani+ Fares Maldives Resort is bringing classical ballet to its shores with the launch of a new “Baa Atoll Ballet Retreat”. This exclusive retreat, featuring Royal Ballet-trained dancer Karis Scarlette, is set to grace the island from November 6 to 19, 2023. Karis will introduce guests of all ages and levels to classical ballet, breaking the steps down and adding her own energy for an uplifting experience. Group classes and one-to-one sessions will take place in a dedicated dance studio complete with barres and mirrors. From pliés to pirouettes, the group classes and one-to-one sessions will focus on perfecting posture,…
The independent new luxury all-inclusive resort, Ifuru Island Maldives, promises the “first and only permanent skydiving dropzone in the Maldives” and is set to officially welcome guests on September 23, 2023. To celebrate the launch, guests can save 50% on stays before December 23, 2023. Opening in September in the stunning Raa atoll, Ifuru Island “fosters a playful and social atmosphere” and offers the first permanent skydiving dropzone in the Maldives, and sunset views from every room and comes with its own private airport. The resort will feature 147 beach suites and villas offering breathtaking sunset views and contemporary interiors,…
The Ministry of Tourism announced a waiver of MVR 4 billion in fines levied on under-construction resorts due to non-payment of rent. Minister of Tourism Abdulla Mausoom confirmed this reduction during the recent restructuring of the resort rental fine. Mausoom said this relief was granted exclusively to resorts that have not started its operations formally. However, resorts subject to penalties unrelated to rental dues would not be entitled for this waiver. “It’s an enormous amount. Being fined for not constructing and not meeting the rental amount was challenging. We are charting a new course forward in this matter,” the minister…
ELE | NA, a leading name in the wellness and spa industry won the “Readers’ Choice – Favorite Spa Brand – Global” at the prestigious GlobalSpa Awards 2023. This coveted award recognizes ELE | NA’s commitment to providing exceptional spa experiences and its dedication to sustainable, conscious wellness practices in alignment with the event’s theme “Conscious Sustainable Wellbeing.” Beyond its recent win, ELE | NA also announced its strategic expansion plans for 2024, in line with its mission to spread the message of conscious sustainable wellbeing across the globe. The expansion into the Middle East, India, and Sri Lanka in…
According to the Maldives Inland Revenue Authority (MIRA), the state collected MVR 15 billion in taxes in the first 8 months of 2023. This is approximately an MVR 3.4 billion increment compared to the same period in 2022, which is a 20% growth. The surge in tax revenues coincided with the adjustment of tax rates, including the increase in the General Goods and Services Tax (GGST) to 8% and Tourism Goods and Services Tax (TGST) to 16% from January 2023 onwards. The government collected MVR 6 billion so far in TGST, and MVR 2.9 billion in GGST, which marked a…