Author: Mohamed Reehaan

State Trading Organization (STO) has introduced new products popular home appliances manufacturer Hitachi in the Maldivian market. The new products of Hitachi were introduced on Friday evening, 17th February, in a special ceremony held for the occasion at STO People’s Choice. STO’s General Manager Ahmed Shifan and Hitachi Home Appliances’ Director of Sales Tarun Jain officially introduced the product line. The newly introduced products include Hitachi’s latest line of refrigerators, washing machines, microwave ovens, and chest freezers among several other items.

Housing Development Corporation (HDC) announced it will allocate plots from Hulhumale’ for scrap dealers. HDC said that its decision to designate specific areas from Hulhumale’ scrap dealers was made after observing a surge in such businesses. Scrap dealer businesses started to surge after a rise in discarded iron and articles of iron. Discarded iron and similar articles began increasing in quantity owing to the increment in infrastructural development projects in the Maldives. Following the conclusion of any such project, contractors often discard large quantities of damaged iron and other articles that are no longer applicable to their original purpose. Most…

State Trading Organization (STO) has launched a daycare assistance program to ease its employees. The  STO Little Wonders program was launched to facilitate a balance for STO employees between their professional and social life, and endorse healthy living. The program was initiated by STO’s top management and was launched on Wednesday, 15th February, by its Managing Director Husen Amr and the General Manager of Peoples Operations Mariyam Nuzula. STO’s Little Wonders program applies to all of the organization’s staff. Under the program, STO will provide an allowance of MVR 2,500 to all of its employees to enroll their children below…

State revenues inclusive of foreign grants reached MVR4.25 billion as of February 09, 2023. According to the Ministry of Finance, the state expenditure by the review date reached MVR4.09 billion. Owing to higher earnings compared to expenditure, the overall balance for the period is a surplus of MVR148.5 million. As of the review date, the state has spent 76% of the budget on recurrent needs and the remaining 24% on capital expenditure. Meanwhile, the government earned 86% of its revenues from tax sources and the remaining 14% came from non-tax sources. Revenues and Grants Tax Revenues: MVR3.67 billion Non-tax Revenues:…

The National Pay Commission (NPC) announced on Monday, 13th February, that it has created a framework of remuneration for health sector employees by dividing the sector into 55 professions. Speaking at the parliament’s Committee on Independent Institutions meeting, the Secretary General of NPC Dr. Mohamed Faisal said that the health sector salaries were set after several discussions. NPC held multiple discussions with the Ministry of Health and other relevant organizations in the past year for the purpose. “There are 55 professions in the health sector, and some of these do not have anyone employed, not even locals. So we have…

The Maldives government has decided to release its stake in Shangri-La Vilingili Resort and Spa, Minister of Tourism Dr. Abdulla Mausoom said. The resort which opened in Addu atoll in 2009, has remained closed due to several disputes. The minister made this announcement in response to a question by a parliament MP on Tuesday’s sitting. Minister Mausoom said that the government has decided to release its stake in the resort and has informed Addu Investment Private Limited, which owns the resort. The minister said the matter would be settled once they receive a response. While the state owns 30% of…

Maldives President Ibrahim Mohamed Solih officially inaugurated the new government office complex in Hulhumale’, the “Umar Zahir Office Building”. The building, named after the long-serving statesman, the late Umar Zahir, was opened on Wednesday morning, 15th February, at a special ceremony by the Maldives President. At the ceremony, President Solih noted that the Huravee Building in Male’ City was recently demolished due to old age and highlighted the dilapidated state of the adjacent Ghaazee Building. President Solih further said that the new office complex was opened at the right time to cater to the growing need for new spaces to…

State Electric Company (STELCO) has collaborated with the council of K. Himmafushi in cleaning the island’s beach. STELCO confirmed that several of its employees had participated in the beach clean-up alongside council staff. While noting that participation in such community enrichment initiatives was part of STELCO’s CSR drive, the utility provider said it had been a pleasure to work alongside the local communities in enhancing their livelihoods. STELCO is the primary electricity provider in the Greater Male’ region. The utility provider earlier launched a large-scale initiative of connecting the Greater Male’ region islands within an interconnected grid. Through this grid,…

State Trading Organization (STO) is gearing up to develop a shopping mall at Hulhumale’ Phase II according to its Managing Director Husen Amr. The STO Managing Director revealed the company’s plans in response to a tweet made by possibly a Hulhumale’ resident, who complained about expensive goods and services available from other vendors or outlets in Phase II. While Amr stated STO was preparing to develop a shopping mall, he did not disclose any further details. The shopping mall plan’s confirmation follows Amr’s earlier confirmation that STO Smart Store will open next month. STO’s Smart Store is the country’s first-ever…

State Trading Organization’s (STO) new STO Smart Store which is currently in development; will be officially opened in March 2023 according to Managing Director Husen Amr. The STO Managing Director confirmed this via Twitter on 13th February, Monday. This is the first time a ‘Grab and Go’ concept shopping outlet is being developed in the Maldives. The new STO Smart Store is located at STO Hulhumale’. Grab and Go retail shopping is a popular concept in several countries where customers are not required to checkout their items from checkout counters and do not have cashiers either. STO said that with…