Author: Mohamed Reehaan
Dhiraagu, the country’s leading telecom and internet service provider announced a dividend of MVR7.33 per share for the year 2022. The company confirmed its decision at its 34th Annual General Meeting held on Monday, 20th March. Dhiraagu passed a special resolution declaring its dividend for the previous fiscal year which amounts to MVR557,080,000. The full-year dividend is made up of the interim dividend of MVR1.66 per share, which is a total of MVR126,160,000 paid in 2022, and a final dividend of MVR5.67 per share, which is a total of MVR430,920,000 declared on Monday’s AGM. Dhiraagu also re-appointed KPMG as its…
The Housing Development Corporation (HDC) is seeking bidders to submit Expression of Interest (EOI) for the lease and operation of vertical/mechanical parking venues in Hulhumale’. HDC on Sunday, 19th March, announced it was seeking potential and competent parties to operate six of its vertical parking mechanisms in various locations of Hulhumale’. The Vertical Parking Venues Nirkolhu Parking 1: East side Rowhouse “Mashi” – 36 slots Nirolhu Parking 2: East side of Flat 02 – 26 slots Kaneeru Parking: West side of Rowhouse “Sandura” – 26 slots Boagan Villa Parking 1A: West side of Ghaazee School – 26 slots Boagan Villa…
Emerald Faarufushi Resort & Spa has recently been nominated for two categories at the 30th Annual World Travel Awards 2023. The property has been recognized for its exceptional guest experiences and unparalleled luxury. The resort has been nominated in the Indian Ocean’s Leading New Resort and Maldives’ Leading Luxury Villa Resort categories. These nominations highlight the resort’s commitment to excellence and providing the best possible guest experiences, and its dedication to luxury, comfort, and exceptional services has earned it a spot among the best resorts in the Maldives. The winners of the World Travel Awards will be announced at the…
State Trading Organization (STO) imported 2 tons of lemon from India amid demands. STO said it imported lemon in bulk quantities to allow affordability for consumers. Meanwhile, STO adds that it received several complaints from individual consumers and businesses about the spiked prices. At the time of STO’s bulk imports of lemon, the commodity was selling above MVR100 per kilogram. With the imports, the current market price has been dropped between MVR80 and MVR95 per kilogram. STO is selling lemons at MVR60 per kilogram, and hopes this will encourage other importers and vendors to slice their prices on the commodity.
The Chairman of Bahrain Telecommunications Company (Batelco) Shaikh Abdulla bin Khalifa Al Khalifa paid a courtesy call on the Maldives President Ibrahim Mohamed Solih on Sunday, 19th March. At the meeting, the Maldives President and Batelco’s Chairman discussed areas of collaboration for further improving the country’s digital infrastructure. The two also spoke about the current government’s efforts towards implementing telecommunications policies. President Solih also thanked the management of Beyon, the parent group of Batelco, for their contribution towards the achievements in the Maldivian telecom sector, of which the group has been a stakeholder. Batelco falls under the Beyon umbrella of…
The Maldives Marketing and Public Relations Corporation (MMPRC) has participated in Malaysia’s premier travel extravaganza, MATTA 2023, from 17th to 19th March. MATTA 2023 allows service providers and travel trades to sell information about their products, travel options, and seek business opportunities as well. MMPRC joined leading industry partners to showcase the Maldives as a “preferred holiday destination in Malaysia and Southeast Asia.” The tourism promotion board of the Maldives promoted the country’s beauty, luxury, and safety to potential visitors. At the three-day event, MMPRC provided the latest information about the Maldives to visitors, and offered insight into various tourism…
State Trading Organization (STO) has opened its Roadha Mart retail outlet in Hulhumale’ Phase 2. The outlet was opened ahead of Ramadan, the Islamic holy month, to enhance accessibility for residents living in Hulhumale’ Phase 2. STO said that the mart was opened owing to difficulties residents in the area faced over the lack of retail outlets. STO also said that the outlet was opened to provide commodities at affordable prices since the demand increases for them during the month. The STO Roadha Mart was officially inaugurated by the corporation’s Chief Executive Officer and Managing Director Husen Amr along with…
DAMAC Group, under its property development arm DAMAC Properties, has awarded Aima Construction Company with the main works construction contract for 120 villas at the Mandarin Oriental Bolidhuffaru Reef resort in the Maldives. The contract, valued at approximately USD 148 million (MVR2.2 billion), was awarded by DAMAC to commence construction on a series of resort accommodations which will extend across three private islands. Commenting about this, the General Manager of Projects at DAMAC Properties Mohammed Tahaineh said, “we are fully confident in the capabilities of Aima Construction, whose track-record and enthusiasm for the project exceeded all our expectations during an…
Dhiraagu has signed the second facility agreement of USD30 million with the International Finance Corporation (IFC) and Asian Development Bank (ADB) to fund the investment in SEA-ME-WE 6 (SMW6) Submarine Cable System initiative. The second facility brings the total funding from IFC and ADB to USD55 million. The SMW6 is aimed to connect the Maldives to the global internet superhighway and reduce latency, improve quality, and reduce the cost of Dhiraagu’s internet services. Besides further enhancing the digital infrastructure with the investment, it will help the company’s efforts to make the Maldives a global digital hub. Last year, Dhiraagu signed…
Tourist arrivals to the Maldives have exceeded 440,000 by 15th March 2023, reported the Ministry of Tourism. According to the ministry’s most recent statistics, tourist arrivals stood at a total of 440,059 as of the review date which is a 23.8% increment compared to the same period in 2022, during which arrivals stood at 355,433. The arrivals from 01st to 15th March on the other hand, stood at 89,646 which is a 20.1% increase compared to the same period last year during which arrivals stood at 74,657. Top 10 Markets (as of 15th March) Russia: 54,527 India: 47,462 UK: 41,126…