Author: Mohamed Reehaan

Moderna said it is suing Pfizer and its German partner BioNTech for patent infringment tied to the development of the first Covid-19 vaccines. The US biotech company alleges the mRNA technology it developed prior to the pandemic had been duplicated by the party it is gearing to sue. The lawsuit, which reportedly seek an unspecified financial damage had been filed both in the US and Germany. Commenting on this, Pfizer said it was “surprised” and affirms they will “vigorously defend” against the allegations made. Moderna is pushing the lawsuit as it believes the Pfizer/BioNTech partners copied two key elements of…

Cumulative total of state expenditure hits MVR22.56 billion as of 18th August, reports Ministry of Finance. According to the state body, state earned a cumulative total of MVR17.8 billion in revenues. Revenues to the state are inclusive of foreign grants. So far, state spent 73% of the budgetary total of recurrent expenses. Remaining 27% of capital expenses. On the other hand, 73% of state’s earnings came from tax sources, remaining 27% from non-tax sources. The overall balance for the period is a deficit of MVR4.73 billion. Meanwhile, the cumulative total of tax revenues by review date is MVR13.02 billion. The…

Bank of Maldives (BML) as part of its banking service expanding strategy opens two new ATM centers in two residential islands. The bank in its strategy to support local communities opened a new self service banking ATM in both Filladhoo and Vashafaru, Haa Alif atoll. The ATM centers will support individuals and businesses with banking needs. The centers will remain open for money transfer services on a 24/7 basis. The bank’s acting MD and in-charge Ms. Aishath Noordeen said, “As part of our network expansion and our continuous effort to make banking accessible for all, we are delighted to support…

Tourist arrivals to the Maldives reach 1,056,851 by late August, reports Ministry of Tourism. According to the state body, as of 24th August 2022, tourist arrivals to the Maldives observed an annual increment of 45.0% compared to the same period in 2021. Tourist arrivals for the same period last year stood at 729,053. However, tourist arrivals for 2022 was still 4.8% below in comparison to the same period in 2019, during which the arrival total reached 1,110,662. Meanwhile, the daily arrival average is at 4,478. The average duration of guest stay is currently 8.2 days. Tourism source markets remain unchanged,…

Maldives government contracts Maldives Transport and Contracting Company (MTCC) for three developmental projects with a combined worth of MVR100 million. Signing took place on Wednesday, 24th August. MTCC CEO Adam Azim signed on behalf of the contractor, while Permanent Secretary of Ministry of National Planning, Housing and Infrastructure (MNPHI) Zeeniya Hameed signed on behalf of the government. Project details are listed below. Maduvvari Harbor Development Dredging and excavation – 38,800 cubic meters Channel dredging – 54,093 cubic meters Land reclamation – 111,471 cubic meters Breakwater construction – 600 meters Revetment – 112 meters Project total – MVR51 million Duration -…

Villa announces reducing the price on their cement products. Villa Hakatha on Wednesday, 24th August, confirmed the price cut reflects company recently chartering a cement carrier on long-term. The vessel holds 12,000 ton capacity. Cement is packed in special packaging that prevents it from hardening. Villa also claims their product lasts longer than competitor alternatives.

Maldives Marketing and Public Relations Corporation (MMPRC) initiates a digital marketing campaign with Indonesia’s leading online travel agency, Traveloka. Kicking off on Thursday, 25th August, the campaign is 3 months long. The joint campaign focuses on maintaining destination momentum, promote Maldives tourism in Southeast Asian market. Traveloka, Indonesia’s leading online travel agency connects with over 150 airlines. Through the campaign, MMPRC will run digital advertisements on Traveloka’s Facebook and Instagram handles. MMPRC will also run Google ads, and a digital banner on Traveloka’s in-app homepage feed. Traveloka will also publish digital articles highlighting Maldives as a leading destination. During the…

Ooredoo Maldives launches Fiber SuperNet Broadband services in three islands, expanding its internet service territory. The telecom and internet service providing giant introduced services in; Lhaviyani atoll Olhuvelifushi Shaviyani atoll Kanditheemu Laamu atoll Dhanbidhoo Ooredoo’s Fiber SuperNet Broadband offers wide range of fixed broadband packages with speeds up to 100 Mb/s. Customers subscribing for the connection will get 300GB bonus data during initial three months. Clubbed with massive data allowances, higher speeds and data rollover service Ooredoo is offering the best broadband plans in the market right now. Hussain Niyaz, Chief Commercial Officer, Ooredoo Maldives He further notifies the service…

Maldives Marketing and Public Relations Corporation (MMPRC) participates at the Travel Trade Maldives 2022, in a bid to connect with local and international tourism stakeholders. TTM is regarded as one of the biggest travel trade events in the Maldives, comprising of hybrid activities and different events including the TTM Connect, TTM Travel Summit. In addition to these, the event culminates with an awards and gala eve. The annual event sees over 3,000 pre-scheduled meetings, held among over 500 travel trade professionals. These meetings conclude with over USD1 billion worth contracts discussed. The 2022 edition of TTM Connect proceeds at Meerumaa…

Regional Airports Company (RACL) inaugurates their aviation academy, which includes the first automatic fire simulator in the Maldives. Basal works of the simulator was conducted by former Fire and Safety Director of RACL, the late Ahmed Fayaz. Active work on the simulator commenced under Fayaz’s supervision in August 2021. To recognize and applaud the diligence of Mr. Fayaz, the company’s board of directors and Managing Director agreed to name the simulator as ‘Ahmed Fayaz Fire Simulator.’ The aviation academy of RACL adheres all mandatory regulations, and is a fully capable academy to run aviation-related courses. The academy’s initiative kicked off…