Author: Mohamed Reehaan

Maldives Monetary Authority (MMA) in their Quarterly Economic Bulletin reports strong improvement of tourism industry activities in Q2-2023. According to the central bank’s data, Chinese arrivals continued to increase despite the off-peak season of tourism in the review quarter, increasing from 17,691 in the previous quarter to 45,736 in the second quarter. This was also an annual increase of 42,987 in Chinese tourists, reported MMA. The growth in tourism activities was further supported by the annual increase in arrivals from Russia in the review quarter. Russian arrivals increased from 29,596 in Q2-2022 to 43,761 in Q2-2023; reflecting a 48% growth.…

Hotels and Resorts Investment Private Limited (H.A.R.I.M) onboards as the main sponsor for the National Build Expo 2024. Besides the expo, H.A.R.I.M signed on as the main sponsor for the Maldives National Builder Awards 2023 as well. The National Build Expo 2024 edition is scheduled for January 11 to 14, in the following year at Central Park, Hulhumale’. The Maldives National Builder Awards 2023 is scheduled for October 28 this year. Both the events are flagships of the Maldives National Association of Construction Industry (MNACI) and are organized by MEDIUM Events Private Limited.

The Ministry of National Planning, Housing and Infrastructure (MNPHI) has awarded the contract for the development of 200 housing units in Addu City Hithadhoo. The contract for the construction of two 11-storey buildings was signed by the Director General of the ministry Ahmed Vishan Naseem. The government awarded the project to PT Citramas Heavy Industries in joint partnership with Beaver Builders Private Limited. Managing Director of the JV, Musthaq Ibrahim signed the contract on behalf of the contractor. Government awarded the project at a cost of MVR 218,852,500 for a completion period of 540 days. According to the ministry, the…

The luxury airline BEOND (pronounced “Beyond”) has opened employment opportunities for Maldivians. The airline announced recruitment of Maldivian locals for multiple positions including pilots, cabin crews, and ground staff. The new airline, a joint venture between UAE’s Arabesque and Maldives business conglomerate SIMDI Group, is committed to providing opportunities for individuals interested in aviation sector careers. BEOND CEO Tero Taskila said the importance of Maldivians in promoting tourism and developing related sectors. He said the airline’s commitment to providing opportunities for individuals, stating the initiative would be a great chance for the people looking to work in the field.

Nova Maldives has announced its first local art market from October 6 to 7, 2023. To commemorate the Maldivian underwater world, local artists would bring a “vibrant display of creativity and craftsmanship to the Nova guests.” Nova Maldives, a premium holiday retreat, has always been committed to sustainable development within the local community. This unique event will be a platform for six Maldivian artists to show their work and promote their growth. During the event, workshops will be conducted where guests will engage with the artists, learn about their techniques, and gain insight into their creative processes. Cultural enthusiasts will…

Ministry of Economic Development with its partner Business Center Corporation (BCC) has officially inaugurated the second phase of the Small and Medium Enterprise (SME) Hub on Tuesday, September 5. The SME Hub provides spaces for small-to-medium ventures to operate and elevate their businesses by facilitating connection between them and both local and international markets. First phase of the SME Hub saw establishment of 19 kiosks specific for food along with a bookstall.

Six Senses Kanuhura is now open again and welcoming new and returning guests. Situated in a pristine corner of the Lhaviyani aotll, this stretch with its long, palm-fringed, white sandy and two additional private islands has opened with the promise of a “reimagined tropical beach”. “The long-anticipated moment for the relaunch of Six Senses Kanuhura has arrived,” said Bryce Seator, the General Manager of the property, who added that this marked a “significant milestone in the island’s long history.” “It has been an exciting transformational journey, and we are very proud to unveil the reinvented island experience that takes guests…

Hot on the heels of winning on the ‘Best Pools’ accolade in the 2023 Travel + Leisure Luxury Awards, Dusit Thani Maldives has been nominated under the ‘Best Hotel in Maldives’ in the esteemed DestinAsian’s Annual Readers’ Choice Awards 2023. This nomination serves as a testament to the resort’s commitment to delivering exceptional hospitality experiences in the Maldives. The DestinAsian’s Readers’ Choice Awards are renowned for recognizing outstanding excellence in the travel and hospitality industry. The awards are based on the opinions and votes of discerning travelers who appreciate and value exceptional service, luxury, and remarkable destinations. “We are truly…

The 15th Annual General Meeting of the Sri Lanka – Maldives Business Council (SLMLBC), The Ceylon Chamber of Commerce was held earlier on August 17, 2023. The AGM was held at Courtyard by Marriott, Colombo. The High Commissioner of the Republic of Maldives to Sri Lanka, Ali Faiz graced the event as the chief guest with Ceylon Tours Managing Director Suren Ediriweera attending as a guest speaking. Kevin Edwards, who served as the outgoing President of the Sri Lanka – Maldives Business Council for 2022-2023 opened the meeting with an insightful speech, and emphasized on the statistical analysis of “how…

The CA Institute, the world’s largest professional accounting body, signed a memorandum of understanding (MoU) with the Institute of Chartered Accountants of the Maldives (CA Maldives). The parties signed the agreement during the SAFA IFRS and ISAs Forum 2023 hosted by the CA Maldives on August 20, 2023. ICAI President Aniket Sunil Talati attended the SAFA Board meeting in the Maldives on August 21. The MoU was signed to establish cooperation for the advancement of “Accounting Knowledge, Professional and Intellectual Development” to advance the interest in “their respective members and positively contributing to the development” of the accounting profession in…