Author: Mohamed Reehaan

The Bank of Maldives (BML) on Wednesday, 12th April, announced a new promotion for its Mastercard cardholders. Under the promotion, BML is offering an all-inclusive trip for two to watch the UEFA Champions League final in Istanbul, Turkey. Customers using Mastercard for local and international transactions from 12th April to 09th May 2023 will be eligible to win. BML is a principal member of Mastercard in the Maldives and issues Mastercard debit, credit and prepaid cards. Mastercard is the official sponsor of the UEFA Champions League.

The Shapoorji Pallonji Group, controlled by billionaire Shapoor Mistry, is weighing its asset sales including a controlling stake in its flagship engineering firm that could raise USD2 billion. The company is reportedly acquiring advisor support to seek a buyer for its holdings in Afcons Infrastructure Ltd; a Mumbai-based infrastructure company. According to inside sources, the group is looking to sell some ports. Though not disclosed in full details, the Gopalpur Port on the east coast of India could be among the assets SP Group is looking to sell. Considerations are still at an early stage and SP Group may decide…

Atmosphere Core, a new identity for the registered Atmosphere Core Private Limited, has unveiled its third brand – the Atmosphere Hotels & Resorts. Shifting from its actual company name, Atmosphere Hotels & Resorts will pave way for “refreshingly different destinations in South Asia” all the while the company blends its footprint in the Maldives, said the company. Considered among one of the fastest growing hospitality companies in South Asia, Atmosphere Core capitalizes on its “experience to stay ahead of competition through and innovative approach.” The hotelier brand already runs notable properties in the Maldives under three of its distinct brands…

Maagiri Hotel celebrates its fifth anniversary on Wednesday, 12th April. The city hotel, regarded one of the best in the tourism segment, is celebrating half-decade of prestigious hospitality service in Male’ City that is second to none. Maagiri Hotel makes the most out of its premier location, situated right in front of Hulhumale’ Ferry terminal, with enhanced easy access for transit or island-hopping tourists from Velana International Airport (VIA). A top-tier city hotel with its two restaurants and a cafe becoming increasingly popular among locals as well, Maagiri Hotel continues to redefine hospitality for a tourism niche that is still…

Avas Ride, the Maldivian equivalent to Uber and the only prominent ride-booking/ride-sharing service in the country, launched a promotional campaign specifically focused on taxi drivers. Under the promotion, drivers can register at any Avas Ride tax center and receive three months of free access to the center. “We recognize that taxi drivers face various challenges in their line of work, and we are eager to support them in any way we can,” a spokesperson from Avas Ride said. Free access to the Avas Ride application will allow drivers access to the country’s most extensive taxi fleet, and help them maximize…

Urbanco  on Tuesday, 11th April has signed with International Chain Maldives (ICMPL) for the development of a new and large-scale mosque establishment in Hulhumale’ Phase II. Under the agreement, ICMPL will be developed an 11,643.74 square-feet mosque on Hulhumale’ Phase II Lot Number 20243. The mosque will be developed up to three storeys, and will accommodate 521 total prayers in a congregation. Urbanco’s Managing Director Ahmed Athif signed the agreement on behalf of main enterprise responsible for the urbanization of Hulhumale’ while ICMPL’s Managing Director Mohamed Fayaz signed on behalf of the contractor. Urbanco has contracted for the development of…

The Maldives Inland Revenue Authority (MIRA) has published a guideline on the implementation of the new plastic bag fee. The plastic bag fee is levied on local business ventures, registered with MIRA and subject to pay GST. The fee is charged in accordance with the Maldives Waste Management Act (Act No: 24/2022). Under the new guideline, plastic bags sold at the point of sale is subject to a fee of MVR2.00. The new fee will become effective from 00:00hrs on 18th April 2023, said MIRA. While the plastic bag fee is mainly collected from entities registered to pay GST to…

The Maldives Vice President Faisal Naseem on Monday, 10th April 2023, called for a whole-of-society approach to ensuring road safety. In his statement, Naseem urged government offices, institutions, and state-owned enterprises (SOEs) to support the Maldives Police Service in “increasing public awareness on the issue.” The Maldives Vice President made these remarks while speaking at an awareness session held by the Maldives Police under its ‘Fahiraastha’ campaign, held at the Islamic Center’s hall. Naseem in his remarks, said that all government offices, institutions, and SOEs are responsible for increasing awareness about road safety in their workplaces for their employees. He…

The Island Council authority of ADh. Dhigurah announced a total of 77 plots from the island are now up for sale. Each plot measures 2,000 square-feet in size, and will be put up for the sale with applications accepted until 09th May 2023. Application forms are now available via the Maldives government’s Gazette, the website of Dhigurah island council and its office. While non-residents of the island are eligible, locals born and living in Dhigurah with a marriage marital status will receive the most number of points; which is 65. Non-residents or Maldivian citizens not born or registered to Dhigurah…

The Maldives Inland Revenue Authority (MIRA), earlier on 22nd March 2023 announced the commencement of a special campaign. Titled ‘Fansa-aahi’, the campaign aims to improve tax compliance of taxpayers and to improve on-time return filing rate. MIRA added that the objective was to improve the rate of tax returns submitted on time as per the deadlines. Failure to file tax returns before the deadline is an offense punishable under the Tax Administration Act of the Maldives. Under the campaign, MIRA conducted activities to encourage timely filing of tax returns to increase the proportion of tax returns filed on time. MIRA…