Author: Mohamed Reehaan
The SME Development Finance Corporation (SDFC) has disbursed a total of USD 77.8 million in loans to local small to medium enterprises (SMEs). The corporation has observed a surge in the number of SMEs applying for loans. To date, SDFC has approved 1,200 loans and disbursed 1,100 of them while the company has granted loans to over 500 local SMEs and other sectors. Tourism sector has observed the creation of 3,300 beds while over 200 wholesale and retail businesses, and more than 100 cafes and restaurants benefitted from the SDFC loan scheme. SDFC was established in 2019 a state-owned enterprise…
The Maldives government has begun the second phase of land dredging at the Thilafushi Phase 2 Area C. Housing Development Corporation (HDC) said that dredging will follow the Thilafushi Master Plan. Capital Marine and Civil Construction Company Pvt Ltd won the contract for the work, which began on 27th March. The contactor is expected to reclaim 20 hectares of land under 120 days. Thilafushi Phase-2 is developed to relocate the entire industrial works to the island, meaning any such operation in Male’ City will be completely shifted as well. The government aims to transform Thilafushi into a major industrial hub…
The Maldives government has forwarded the name of the new Managing Director of State Trading Organization (STO) to the Privatization and Corporatization Board (PCB). Government has decided to appoint the current Maldives State Shipping (MSS) Managing Director Abdulla Saeed as the new leading man of the largest state-owned enterprise (SOE) in the country. Saeed, who is a former Cabinet Secretary at the President’s Office, is considered for the role following Husen Amr’s exit as STO MD on Sunday, 26th March. The MD-hopeful was appointed as the President’s Office Cabinet Secretary in 2011 during former President Mohamed Nasheed’s administration. Following his…
The Maldives attracted over half a million tourists in the first quarter of 2023, said the Ministry of Tourism. According to the ministry’s statistics, tourist arrivals as of 27th March stood at 505,071 which is a 21.5% increase compared to the same period last year, during which arrivals stood at 415,690. From 01st to 27th March, the Maldives attracted a total of 154,657 tourists indicating a 14.6% increase compared to the corresponding period in 2022, during which arrivals stood at 134,914. The daily arrival average so far in March stood at 5,728 whereas the daily arrival average annually is at…
Housing Development Corporation (HDC) has revealed that Kudagiri Picnic Island will be offering special iftar buffet packages during Ramadan. HDC is the main management body of the government-initiated picnic island. Interested customers can reserve the buffet packages in advance while individuals are also welcome to bring their own food for iftar on the island. Besides the iftar buffet packages, HDC also made changes to the operational hours of the island. During the Islamic holy month, the island will be open for visitors every day except on Sundays. Ferries will transfer entrants from Male’ City to the island between 14:15hrs and…
The national carrier of the Maldives, Maldivian Airlines has launched a special discount fares for India’s Cochin and Trivandrum routes. Launched on 23rd March, Thursday, the promotion will run until March’s end. Customers can book tickets up to 17th April during the promotion, said the airline. Before the special fare, tickets between Male’ and Cochin stood at USD400, which is now USD216. Tickets between Male’ and Trivandrum stood at USD500, which is now USD232. The airline said it reduced prices for the routes during Ramadan to allow better affordability for customers. Cochin and Trivandrum are popular destinations for Maldivian locals…
Addu City observed a record high of imports from Sri Lankan Airlines. The Managing Director of Ace Aviation Mohamed Firaq said that the airline had flown in 4.4 tons of cargo on Saturday last week; making it the airline’s largest imported cargo amount. Ace Aviation acts as the official General Sales Agent (GSA) for Sri Lankan Airlines in the Maldives. “This is the 1st time we have crossed 4 tns (tons) cargo load to GAN on a narrow body” said Firaq. The airline operates weekly three flights between Addu City Gan and Colombo, Sri Lanka on Saturdays, Tuesdays, and Thursdays.…
Bank of Maldives (BML) has announced a special promotion to its American Express (AmEx) cardholders. The largest bank in the country has announced a cashback reward promotion for AmEx credit and debit card holders. Customers making local purchases using AmEx cards stand the chance of winning at a lucky draw. BML said it will select 10 customers on random who will receive full reimbursement of their purchases. The promotion will run until April’s end, said the bank.
JOALI Sustainability Fund announces grant scheme up to USD3,000 for multiple projects in 2023. The projects will be selected for funding if proponents demonstrate sustainability and if the project has the potential to create a lasting impact. Additionally, the projects must be carried out in Raa atoll where both JOALI properties are situated. “The joy of caring is embedded in the DNA of JOALI. Every aspect of our culture and strategy is woven around the idea of responsible luxury,” said Esin Güral Argat, the Founder of JOALI. “We are proud of the meaningful changes we have been able to create…
The Standard, Huruvalhi Maldives celebrated the Earth Hour in “yet another upside-down moment”. The playful lifestyle brand will serve the tables of BBQ Shak with a dine in the dark theme, offering gastronomical journey infused with the five elements of the Earth; water, air, fire, wood, and metal. The Standard also reported that this “culinary experience will definitely ignite the senses of its guests’ palates while enjoying the purposeful dining moments under the moon and stars and feet in the sand”. Guests were also invited to join the Earth Hour celebration at Kula Beach which included traditional Maldivian drum performance…