Author: Mohamed Reehaan

Public awareness test phase of the Raajje-Transport Link (RTL) service currently in central Lhaviyani atoll, has been extended. Maldives Transport and Contracting Company (MTCC) will not be charging customers for fare during the test runs. The atoll comes under phase two of the nationwide integrated public transport initiative. Lhaviyani atoll is the first atoll to have the ferry services commenced under the second phase, while under phase one the atolls of Haa Alif, Haa Dhaal and Shaviyani have already been covered. Test phase in Lhaviyani atoll commenced on 22nd November, Tuesday of last week. MTCC had previously confirmed test phase…

Mission for Migrant Workers Maldives (MMWM) continues its partnership with Ooredoo Maldives and Maldives Cricket Board to host the second annual Migrant Workers’ Cricket Carnival 2022. Slated for 02nd December 2022, from 08:00hrs until 18:00hrs, the second annual Migrant Workers’ Cricket Carnival was announced following last year’s debut event’s success. The carnival’s aims is to “celebrate migrate workers and their contributions to the community and provide an opportunity for them to come together” for enjoyment and leisure. The carnival will feature stalls around the stadium offering several services which include; Free health screenings Mobile consultation clinics Legal awareness MMWM reports…

Tourist arrivals to the Maldives exceeded 1.46 million in annual terms, as of 23rd November 2022. According to Maldives Ministry of Tourism, tourist arrivals by the review date reached a total of 1,456,170 in annual terms. This marks a 29.8% annual increment, compared to the same period last year. In 2021, by the same review date, tourist arrivals reached 1,122,245 in annual terms. On the other hand, the annual arrival total in 2022 is still 2.8% below the same period in 2019, during which arrivals were recorded at 1,497,599. Looking at arrivals to the Maldives exclusively from 01st November until…

State’s cumulative tax revenue has reached MVR16,953.0 million (MVR16.95 billion) as of 17th November 2022. On the other hand, cumulative non-tax revenue has reached MVR6,568.7 million (MVR6.6 billion) by the review date. The two revenue components combined gives a cumulative revenue total of MVR23,695.8 million (MVR23.7 billion) as of review date. For the same period in 2021, the cumulative tax revenue had reached MVR12,370.3 million (MVR12.4 billion). Meanwhile, cumulative non-tax revenue total for the same period last year stood at MVR4,778.7 million (MVR4.8 billion). Major Tax Revenues Goods and Services Tax (GST): MVR8,195.1 million (MVR8.2 billion) Business and Property Tax:…

Bank of Maldives (BML) on Wednesday, 23rd November 2022, announced it will be imposing value ceilings for check transactions. A statement from BML read the value ceiling will be introduced effective from 01st April 2023. The decision is aligned with Maldives Monetary Authority’s (MMA) strategic move to promote electronic payment options, and increase payment efficacy. Moreover, the national bank of the country said it will only process checks up to the value of MVR50,000 or USD3,000 from the effective date. Customers will be required to opt for digital options provided by BML if the transaction values exceed the limit. This…

Maldives Marketing and Public Relations Corporation (MMPRC) has begun a webinar series for the Eastern European travel trades, entitled “Connect with Maldives”. MMPRC reports a total of two webinars will be conducted, targeting Hungary, the Czech Republic, Slovakia, Poland, Romania and Bulgaria. The first of the webinar series was held for Czech Republic, Slovakia, Hungary and Poland on 22nd November 2022, Tuesday. The second webinar will be held on 13th December 2022, targeting Romanian and Bulgarian travel trade businesses. MMPRC said the purpose of the webinars is to “update the Eastern European travel with the latest information and travel guidelines…

The Non-Resident Ambassador of Algeria to Maldives, Mr. Abderrahmane Bengurrah and the Ambassador of Netherlands to Maldives Ms. Bonnie Horbach have presented their credentials to Maldives President Ibrahim Mohamed Solih. President Solih welcomed the Ambassadors to the Maldives. He congratulated Mr. Bengurrah on his new appointment, and notes that Algeria and Maldives are “deeply rooted in the Islamic faith and share common cultural values”. Moreover, President Solih also shared the country’s commitment to enhancing bilateral and multilateral engagements. Ambassador Bengurrah stressed on the “historic friendship and good relations between the two nations”, while he highlighted areas of mutual interest and…

State expenditure has reached MVR32,231.0 million (MVR32.2 billion) as of 17th November 2022. The approved expenditure for the fiscal year is MVR34,101.8 million (MVR34.1 billion). On the other hand, state revenues inclusive of grants reached MVR23,695.8 million (MVR23.7 billion). The project revenue total, inclusive of grants for the year is MVR24,279.9 million (MVR24.3 billion). Expenditure composition so far in 2022 indicates 74% of the total has been spent on recurrent expenses, remaining 26% on capital expenses. Meanwhile, 72% of the revenue composition indicates, came from tax sources. The remaining 28% came from non-tax sources. The overall balance for the period…

Maldives President Ibrahim Mohamed Solih on Tuesday, 22nd November, ratified the sixth amendment bill to the Goods and Services Tax (GST) Act (Law No: 10/2011). Earlier, Maldives parliament passed the bill at the 39th sitting of the third session, held on Wednesday, 16th November 2022. This amendment, now a contested one, seeks to increase state earnings. State decided the tax hike to reduce recurrent expenditures, in light of unstable global economic conditions. Following the ratification of the sixth amendment to the GST Act, Goods and Services and Tax (GGST) will increase from 6 to 8% and Tourism Goods and Services…

LG Display unveiled their ground-breaking new “invisible” speaker technology, catered specifically for automobiles. The new speaker technology incorporate flat panel system, easily placed in headrests and car dashboards. The Thin Actuator Sound Solution system “does away with the regular protruding voice coils, cones and magnets found in most speakers” and replaces them with film-like exciter membrane. LG notes that these can vibrate off panels and other materials within the car interior. The company claims this new system can produce “rich, 3D immersive sound experience”. The panels measure 5.9 x 3.5 inches, is just a tenth of an inch thick, with…