Author: Mohamed Reehaan

Maldives Green Tax revenue reached MVR 895.2 million in the first four months of 2026, an 18.6% jump on the same period last year, according to the Ministry of Finance and Public Enterprises’ last Weekly Fiscal Developments report. Green Tax Collection at a Glance: Cumulative total (Jan – Apr 2026): MVR 895.2 million Year-on-year: +18.6% Annual target: MVR 2,395.4 million Target hit so far: 37.4% The figure offers one of the cleanest reads available on tourism momentum, and the print so far points to a sector running noticeably hotter than it did a year ago. Moreover, the gain lands alongside…

The recent shake-up to BML debit card limits is not connected to the government’s foreign debt repayments last month. Chief Spokesperson at the President’s Office Mohamed Hussain Shareef told reporters today. He pushed backed on a theory that has been doing the rounds online: namely, that the bank tightened card spending because the government had drained its dollar reserves servicing debt. Not the case, he said. “Don’t Connect the Dots That Aren’t There” Shareef walked journalists through the timeline at his weekly briefing. BML’s Managing Director Mohamed Shareef had already laid out the bank’s operational position at a separate press…

The government is actively rolling out a series of initiatives aimed at lowering electricity expenses across the country. Chief Spokesperson at the President’s Office Mohamed Hussain Shareef confirmed Thursday. Spokesperson Shareef framed the Maldives electricity cost reduction agenda as a structural fix rather than a short-term subsidy play. Moreover, the work spans both generation upgrades and grid-side improvements: two levers the administration views as inseparable. Diesel Dependence Sits at the Court of the Problem Speaking at the “Press with Spokes” session, Shareef pointed to the country’s heavy reliance on diesel generators as the single largest cost driver. The vast majority…

The Malé taxi service app developed for the government’s new MTCC-operated ride network has secured App Store approval and will go live for public download shortly, Minister of Economic Development, Transport and Trade Mohamed Saeed confirmed on Thursday. He framed the rollout as the central fix for the long call-centre wait times currently dragging on the booking experience. Moreover, the launch arrives at a moment of sharp demand growth that the existing phone-based system has struggled to absorb. The Wait-Time Problem in Numbers Speaking at a press conference at the President’s Office, Saeed laid out the operational challenge in plain…

STO General Trading has officially launched the 2026 edition of the STO ‘Fini Fini’ Promo, a two-month campaign offering discounted prices on Hitachi air conditioners across the country. The promotion runs from May 5 to July 5. Moreover, the campaign anchors itself with a lucky draw structure designed to reward higher-ticket purchases. How the Promo Works Customers earn one lucky draw entry for every MVR 1,000 spent on Hitachi AC purchases during the promotional window. The grand prize winner walks away with a premium Hitachi home appliance package valued at MVR 40,000. As such, the entry mechanic rewards both single…

The State Trading Organization (STO) Boduriya Chess Championship 2026 begins on Thursday, May 7, at the Chess Arcade in Hulhumalé Phase 1, headlined by a MVR 50,000 grand prize for the winning club. Castle Chess Club has organized the event in collaboration with the Maldives Chess Association, with STO returning as title sponsor. Matches run from May 7 to 9, with games kicking off each evening at 19:00hrs. Format and Field the tournament follows a “10 on 10” rapid chess format, restricted to clubs and associations registered with the Maldives Chess Association. Furthermore, the seven competing clubs will square off…

The Ministry of Economic Development, Transport and Trade will add three Tradian Portal new services from May 10, expanding the Maldives’ flagship single-window platform for import and export processes. The expansion deepens an already wide digital footprint built under President Dr. Mohamed Muizzu’s development agenda. Moreover, it pulls more permit categories away from manual workflows and into the unified online system that businesses now rely on for trade-related applications. Three New Services Added to the Platform The latest rollout brings vessel declaration, fireworks import permit, and flare import permit applications onto the Tradian portal. The service launch in a familiarisation…

The 20th People’s Majlis Committee on State-Owned Enterprises drilled into the Maldives medicine shortage crisis on May 5, 2026, summoning the chief executive of State Pharma, the State Trading Organization (STO), Aasandha Company, and the National Social Protection Agency (NSPA) to a single hearing. The committee chair framed the session as a national-interest probe into why basic medicines have grown harder to obtain across the country. Moreover, the testimony exposed a tangled web of regulatory, logistical, and financial fault lines that no single agency currently owns end-to-end. The main takeaway: from July 1, State Pharma — formally the State Pharmaceutical…

The Housing Development Corporation (HDC) has signed on as a partner of the Asia Media Summit 2026, the flagship regional broadcasting forum hosted this year by Public Service Media (PSM). PSM Managing Director Ahmed Shakeeb and HDC’s Acting Director for Corporate Social Responsibility, Hussain Shaheed, formalised the partnership through a signing ceremony. Under the agreement, HDC will host a series of follow-on activities at Kudagiri once the summit concludes. The Asia-Pacific Institute for Broadcasting Development (AIDB) organises the summit annually, and PSM has secured hosting rights for this edition. Shakeeb confirmed that several special activities will run at Kudagiri after…

SME Digital said women entrepreneurs loan support crossed USD 2 million between November 17, 2023 and April 15, 2026. The funding backed women-led businesses through SME Digital schemes and government’s “Fashaa Madhadhu” programme. SME Digital reported support for 128 businesses during the period. Women owned 31 of these businesses. These women-led firms received USD 401,053.02 in financial assistance. The “Fashaa Madhadhu” scheme delivered stronger funding volume. It distributed USD 1.62 million to 97 women entrepreneurs. SME Digital runs the Women Entrepreneurs Financing Scheme. The scheme offers unsecured loans to women business owners. Loan sizes range from USD 1,617,11 to USD…