Author: Mohamed Reehaan

Sapphire Foods India Ltd (SFIL) on Tuesday, 21st March, announced it plans to increase its stake in Gamma Island Food Private Limited (GIFPL) to 75% from the current 51%. Gamma Island Food operates Pizza Hut and KFC restaurants in the Maldives under franchisee agreements. “The Board of Directors of Gamma Pizzakraft (Overseas) Pvt Ltd (GPOPL), wholly-owned subsidiary of SFIL, has considered and approved subscription of up to 81,914 Equity Shares of GIFPL, subsidiary of GPOPL and step-down subsidiary of the Company, for a total consideration up to 1.88 Crore Maldivian Rufiyaa (Rs 10.15 cr)”, SFIL said. SFIL further added, “Pursuant…

A completely new airline named BeOnd is planning to launch flights in the summer of 2023 to and from Velana International Airport (VIA) with Airbus A321LR aircraft in its fleet. The airline will be using the Airbus A321LRs which comes with only 68 seats that can be converted into beds, in a 2-2 configuration. BeOnd reportedly plans to open 15 routes which include Paris, Munich, Zurich, Vienna, Milan, Jeddah, Riyadh, Dubai, Mumbai, Delhi, Astana, Singapore, Hong Kong, and Taipei initially. The airline also plans to offer luxurious on-board services with catering by a starred chef. Each customer will receive a…

JOALI Maldives, one of the first immersive art resorts in the Maldives, announces its partnership with renowned art consultant and curator Tatiana Gecmen-Waldek to host several experiences for guests to indulge in, including an art festival. Gecmen-Waldek has worked with some of the most notable brands such as Giorgio Armani, Etro, Roger Vivier, Cartier, Maison Kitsuné, Tods and others. The Austrian-born Gecmen-Waldek will be “discovering, presenting, and commissioning contemporary artists” for JOALI Maldives who will bring their work to the island at regular intervals in the form of exhibitions, limited editions, or permanent installations. In commemoration the resort’s commitment to…

The Maldives government on Tuesday, 21st March, increased the resort built-up area from 30% to 50% of the total land area of the island. The Ministry of Tourism said that the minimum beach length per room has been reduced from 5 meters to 3 meters, which is applicable for developing and operating resorts. Beach length per room will be considered as 60% of the total perimeter of the island from the mean tide line instead of the former vegetation line. Additionally, the ministry made revisions to the maximum structural building height allowed for resort facilities. The maximum structural height for…

The Minister of Finance Ibrahim Ameer has said that the Maldives government is monitoring the compliance of all state-owned enterprises (SOEs). The minister in a written response to a question from parliament member Ibrahim Rasheed said the state is monitoring if all SOEs were compliant with the Corporate Governance Code. Minister Ameer further explained that the government implements the policies through a “Comply or Explain” approach and regularly monitors the compliance level of SOEs. He said that the Ministry of Finance publishes an annual report detailing reviews of the SOEs and their adherence to the policies. Currently, there are a…

The Maldives Transport and Contracting Company (MTCC) received the prestigious ‘Rehendhi Award’ for promoting gender mainstreaming and women empowerment in the institutional category. The Chief Executive Officer of MTCC Adam Azim received the award at the hands of Maldives President Ibrahim Mohamed Solih at the official hosted by the Ministry of Gender, Family, and Social Services on Monday evening. The award serves as a milestone for the company’s journey towards gender equality and women’s empowerment, while the company has “miles to travel” in terms of gender mainstreaming and women’s empowerment, said MTCC. MTCC further affirmed that such a recognition motivates…

The Maldives government amended the bidding policy for the construction project of 50 housing units in Dhaalu atoll Kudahuvadhoo. The Ministry of National Planning, Housing, and Infrastructure first made the announcement earlier on 09th January 2023. However, the recent announcement comes with revisions which state the bidding will follow; Construction Contractors Regulation of the Ministry of National Planning, Housing, and Infrastructure The policy on the quota of awarding construction projects under the national tender of the Ministry of Finance Foreign Direct Investment (FDI) policy of the Ministry of Economic Development The eligible bidder for the project will be selected through…

Allied Insurance’s Islamic window, Ayady Takaful introduces a new service called “Crop Takaful”. The service was officially launched at a press conference held at Allied Insurance’s headquarters. The company’s General Manager Ibrahim Firshan and Ayady Takaful Manager Fathimath Nizma gave information about its latest product. Crop Takaful is designed to protect farmers by helping them overcome financial or income constraints. This is an online instant service and does not require documentation to register. The Takaful facility provides compensation coverage for damage to crop fields caused by natural disasters. Farmers who experience losses during the Takaful plan period can submit photographs…

Minor Hotel confirms its newest resort, Avani+ Fares Maldives Resort is scheduled to open on 01st April 2023. The tourist resort will feature 176 rooms, and mark the company’s sixth resort in the South Asian region. Avani+ Fares Maldives is located 35 minutes from Velana International Airport (VIA) and will reportedly provide “a wide range of lodging choices, from private pool villas on the beach” to pavilions with three or more bedrooms. A variety of bars and restaurants, a water sports center, an AvaniKids and Teenagers Club, an AvaniFit gym, and a cutting-edge AvaniSpa will complement the guests’ experiences during…

State Electric Company (STELCO) recently concluded its “Leadership Management and Capacity Building” training. The training program was focused on the senior-most officers of the company’s powerhouse units in various atolls. The convocation ceremony was held last Sunday, 19th March with participants receiving a certificate of completion. Participants received the certificates from the company’s chairman of the board of directors Retired Brigadier General Ibrahim Mohamed Didi, board members Ahmed Latheef, and Retired Major Tholhath Hassan. A total of 31 members participated in the training program. Speaking at the convocation ceremony held at AA. Ukulhas Convention Center, STELCO’s Human Resources and Training…