Author: Mohamed Reehaan
Chinese tourist market which resumed to the Maldives earlier in 2023 after a near three-year hiatus is the fastest growing market so far this year. After China reopened its borders for outbound travel earlier this year, tourists from the country began arriving in the Maldives marking the first time Chinese tourists visited the island nation following the 2020 border closure. While China debuted at the 10th spot of the Top 10 Markets of 2023, it quickly rose through the ranks and is currently the third strongest market with 133,962 annual arrivals as of September 20. The market is gaining momentum…
Ministry of National Planning, Housing and Infrastructure (MNPHI) has announced a new social housing initiative. The initiative consists of issuing 4,500 new land plots and 6,000 housing flats for eligible recipients. The flats would be issued from Hulhumale’, said State Minister of MNPHI Akram Kamaluddin. “We will announce very soon, where we would be giving these lands from. According to the pledge made by the president, housing opportunities will be made available for many people,” Akram said. According to Maldives President Ibrahim Mohamed Solih, who announced last week that the housing scheme will be announced soon and will be catered…
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…