Author: Mohamed Reehaan

The cumulative total of state expenditure reached MVR5.49 billion as of 23rd February 2023, according to the Ministry of Finance. On the other hand, the state revenues inclusive of foreign grants reached MVR4.75 billion by the review date. The overall balance for the period is a deficit of MVR734.6 million. The cumulative tax revenue total is currently at MVR4.0 billion, while the cumulative total of non-tax revenues is at MVR738.5 million. Grants received to the government so far in 2023 is at MVR6.8 million. Top Revenue Contributors TGST: MVR1.4 billion Corporate Income Tax: MVR772.8 million GGST: MVR489.4 million Import Duties:…

The social media competition to select over 50 participants for the Maldives Marketing and Public Relations Corporation’s (MMPRC) largest event in the country this year; the Visit Maldives Storytellers’ Conference 2023 is now open. The social media competition commenced on 27th February, and will run until 25th March 2023. While the social media competition has commenced, the actual Visit Maldives Storytellers’ Conference will kick off on 30th May until 02nd June 2023. The conference will bring together more than 50 content creators from around the world to “Weave Your Maldivian Story”. The event is also considered as the largest gathering…

Maldives Marketing and Public Relations Corporation (MMPRC) promoted the Maldives at the International Media Marketplace (IMM) Australia 2023. MMPRC took part in the international travel trade fair to promote the “Sunny Side of Life” in the Australian market. The event was held from 23rd to 24th February in Sydney, Australia. The event provided MMPRC with the opportunity to meet with top journalists and media publications from the Oceanic market to promote its upcoming events, such as the Visit Maldives Storytellers’ Conference 2023. Additionally, MMPRC took part in the event to gain opportunities to strengthen destination presence and learn the overall…

Outrigger Maldives Maafushivaru Resort has been selected by Luxury Lifestyle Awards as one of the Top 100 Hotels and Resorts of the World 2022. The judges also named the property’s General Manager, John Allanson, as one of the world’s Top 100 General Managers for 2022. The awards recognize an elite group of companies and leaders that represent the “best of the best” as selected and assessed by industry sources, according to reputation, credibility, brand awareness, luxury experience as well as service excellence. The organizing committee, recognizing the property’s excellence said, “Your impeccable reputation and professional performance have been recognized and…

Tourist arrivals to the Maldives exceed 350,000 as of 28th February 2023, according to the Ministry of Tourism. The ministry confirmed that the tourist arrivals reached 350,413 by the review date which is a 24.8% increment compared to the same period in 2022 during which arrivals stood at 280,776. Moreover, the tourist arrivals exclusively for February stood at 177,914; which is a 19.4% increase when compared with the same month last year, during which arrivals stood at 149,011. Top 10 Markets of 2023 (as of 28th Feb) Russia: 44,748 India: 38,109 UK: 32,566 Italy: 32,395 Germany: 22,995 France: 16,483 USA:…

State Trading Organization (STO) has prepared to ensure continued service to consumers ahead of Ramadan. The largest state-owned enterprise (SOE), also the major importer and distributor of staple foods and high-demand perishables such as potatoes, onions, and eggs confirmed its shipment has already arrived before March 2023. Apart from ensuring continued supply of potato, onion and eggs to consumers, STO has also significantly dropped the retail prices on them as well. STO will be selling a kilo of potato for MVR11 and a bag for MVR250, a kilo of onion for MVR9 and a bag for MVR180. Moreover, eggs individually…

State Electric Company (STELCO) has increased the power output capacity in AA. Maalhos. The utility provider increased its powerhouse output capacity from 679 kilo-Watts to 816 kilo-Watts. To achieve this STELCO installed a brand new 300 kilo-Watts generator at the powerhouse. STELCO currently provides utility services in Greater Male’ Region as well as several other atolls across the country. The utility provider is currently working on increasing the power output capacity across all of its powerhouse units; an initiative launched to ensure catering utility services fairly to all its customers.

Dhiraagu has announced that customers can now enjoy additional data with upgraded Postpaid Plans. The new upgrades allow customers to receive more data for all the needs including, browsing, streaming, and social media use. The upgraded plans include; Postpaid 550: Customers will receive a total of 20GB data, free SMS, free calls to all Dhiraagu numbers, and 1200 free voice minutes to other local carriers. The plan previously offered 10GB total data, including 5GB social media data with 300 free voice minutes Postpaid 750: Customers will receive a total of 30GB of data, free SMS, free calls to all Dhiraagu…

The Housing Development Corporation (HDC) announced that visitors will no longer be required to make advance bookings to visit the Kudagiri Picnic Island. Now, interested parties may visit the island at any time during the scheduled ferry departure hours without booking; based on a first-come-first serve basis. Despite HDC scrapping the pre-booking option to enter the island, bookings need to be made in advance for hut or room usage. Additionally, the visitors will no longer be charged for travel to the islands on weekends and public holidays. Locals will still need to pay a fee of USD 1.6 per person…

The Bank of Maldives (BML) has decided to cease its envelope depositing services effectively from Wednesday, 01st March 2023. According to the bank, envelopes containing cash or cheques will not be accepted from the scheduled date. The bank also noted that this move was to further promote digital finance among customers. Envelope depositing allowed customers to deposit bills that were not accepted by the machine due to poor quality. It also allowed customers to deposit lower denomination bills; such as MVR 5 or MVR 10. Generally it takes 24 hours, excluding public holidays, for the deposits to be reflected on…