Author: Mohamed Reehaan

Russian flagship carrier, Aeroflot has recommenced its direct flight operations to the Maldives, with first landing in two months on Saturday morning, 14th May. Following a two-month hiatus by the national carrier of Russia in light of Moscow’s conflict with Kiev, Russia had sought support from Maldivian Civil Aviation authority to ascertain continuation of its flight operations to the island nation. The temporary discontinuation of Aeroflot’s operations to the Maldives was heavily reflected on the tourist arrival numbers from the country, as Russia as the leading source market was dethroned and dropped to third spot in light of weaker arrival…

State Trading Organization (STO) has signed an agreement with Afcons Infrastructure Limited, to supply the cement required for the development of the Thilamale’ Bridge. The signing took place on Thursday morning, 12th May 2022, at STO head office, where the state-owned enterprise’s Chief Executive and Managing Director Hussain Amr Mohamed Rashaad signed on behalf of the company while V. Madhusudhanan signed on the agreement on behalf of Afcons. The parties signed a one year contract, with Afcons Infrastructure agreeing to the purchase of a total of 7,500 cubic meters of ready-mix concrete from STO. Meanwhile, STO has made all the…

Revenues inclusive of grants to the state observed a 51.2% increase in February 2022 compared to the corresponding month in 2021. According to Ministry of Finance the cumulative revenues inclusive of grants stood at total of MVR5,270.2 million (MVR5.27 billion) by the end of February. The ministry further confirmed that the strong increase was mainly due to the increment in GST receipts. On the other hand, state expenditure on a cumulative basis was recorded at MVR5,276.4 million (MVR5.28 billion) by February, which is an increment of 36.5% compared to the same month last year. The fiscal balance for the month…

Maldives Marketing and Public Relations Corporation (MMPRC) has marketed the island nation at the International Luxury Travel Market (ILTM) Arabia. Regarded as the most exclusive luxury travel trade show held in the Middle East, the ILTM Arabia was held from 10th to 11th May on the sidelines of Arabian Travel Market (ATM) 2022 at the Dubai International Convention and Exhibition Center, also known as the Dubai World Trade Center. MMPRC will be showcasing the ultimate luxury vacation experiences available in the Maldives, which is marketed as the “World’s Leading Destination.” The premier tourism promoter marketed the island nation to reconnect…

Maldives Marketing and Public Relations Corporation (MMPRC) and Qatar Airways signed a memorandum of understanding in a bid to increase inbound air traffic to the island nation through joint efforts. The MoU was signed at the Qatar Airways stand on the sidelines of the Arabian Travel Market (ATM) 2022 that was held from 09th to 11th May 2022 at Dubai World Trade Center. Moreover, the MoU was signed on behalf of MMPRC by its Chief Executive Officer and Managing Director Mr. Thoyyib Mohamed, while Mr. Thierry Antinori, the Chief Commercial Officer of Qatar Airways. As per the agreement, both partners…

Maldives Marketing and Public Relations Corporation (MMPRC) exhibits the island nation at the Arabian Travel Market (ATM) 2022, as part of the effort to reconnect with the Middle Eastern travel trades. The ATM 2022 commenced on Monday, 09th May and will last until Thursday, 12th May at the Dubai International Convention and Exhibition Center, Dubai World Trade Center. The event is one of the world’s leading travel trade fairs for inbound and outbound travel industries in the Middle East, while for the last 28 years the annual event has connected “products and destinations” across the world, linking buyers and travel…

Several members in the Maldivian health sector are currently on strike, urging government to consider remuneration bumps. According to health sector employees, the possibility of a remuneration increment for the individuals working in the field still remain uncertain. Meanwhile, the strike has been organized  by the Maldives Health Professionals Union (HPU). The protestors have been demanding to disclose a specific time period when the remuneration of health workers will be increased. Moreover, the workers have urged to expedite the process while noting their predicaments.

Bank of Maldives (BML) announces on the successful completion of a new barbeque area in Kaafu atoll Kaashidhoo under the Community Fund initiative. The community fund of BML focuses on “empowering individuals to contribute to society through sustainable community projects.” According to the bank, the new barbeque area is equipped with barbeque grills, tables, chairs and benches along with a relaxation area specifically designed for senior citizens. The project winner, Mr. Mohamed Visaah commented, “Our hops is that the space is useful for our community and those visiting the island. My sincere gratitude and thanks to Kaashidhoo Club Flyers and…

The Managing Director of State Electric Company Limited (STELCO) Mr. Ahmed Shareef revealed the corporation’s latest plans for a new solar power initiative in Male’ City. According to Mr. Shareef, the utility provider aims to lease up the roofs of Male’ residences for the installation of solar panels; which will have a city-wide scale. While speaking about the company’s new directives and objectives, Mr. Shareef during an interview on local broadcast media ‘VTV’ noted on the STELCO’s efforts to cut down fuel dependency for energy production. Furthermore, Mr. Shareef had confirmed on several renewable energy projects being already carried out…

State revenues increased by 45.3% in the first quarter of 2022, reaching a total of MVR6.01 billion according to Maldives Inland Revenue Authority (MIRA). The revenue earned to the state during the review quarter had also observed a marked increment of 31.9% when compared with initial projection. According to MIRA, the significant bump up in revenues was mainly due to the observed increment in the collections of TGST, Tourism Land Rent, GGST, Green Tax, Departure Tax and Airport Development Fee for the quarter. Furthermore, revenue collection from Income Tax had significantly increased in the review quarter. The total tax revenue…