Author: Mohamed Reehaan

Bank of Maldives (BML) has announced on the reduction of the bank’s Home Loan interest rates to 9%; making it the lowest rate on a bank issued loan available in the country. Moreover, the reduced rate is available for customers who are applying for new loans or looking to refinance existing loans in other financial institutions. In addition to this, customers can purchase apartments or row houses anywhere in the country with a repayment period of 20 years with the Home Loan. Speaking about the reduction of interest rates in the bank’s Home Loan, BML CEO Mr. Tim Sawyer commented…

The available dive and underwater experiences in the Maldives have been showcased at the Malaysia International Dive Expo (MIDE) 2021 – travel and tourism event. The top tourism and destination promoter of the island nation, Visit Maldives took part in the event which was held at Kuala Lumpur from 03rd until 05th December 2021. Moreover, Visit Maldives showcased the dive, watersports and underwater experiences available for enthusiasts in the Maldives. Furthermore, the event was ample ground for Visit Maldives to promote Maldives as a safe haven for travelers and maintain the country’s position as a top-of-the-mind destination. At the event,…

A media team of leading magazines and publications hailing from Germany arrived in the Maldives on 03rd December, Friday as part of the tourism familiarization trip series. Moreover, the familiarization trip with Germany media team is held as a joint campaign with Condor while the team will be staying in the Maldives until 07th December 2021. The team consists of writers from publications and magazines which highly popular among affluent audiences in the German market with a potential reach of over millions of readers. Meanwhile, the team will be hosted at SAii Lagoon Maldives and Conrad Maldives Rangali Island during…

According to the latest statistical updates from Ministry of Tourism, the total tourist arrivals to the Maldives reached 1,162,425. Furthermore, the total tourist arrivals for the month of November 2021 observed a 4.9% increment with an arrival total of 144,725 exclusively in the preceding month when compared with the same period in 2019 where the total arrival stood at 137,921. On the other hand, tourist arrivals in November 2021 observed a 304.7% increase compared with the same month in 2020 where the arrival total stood at just 35,757. Moreover, the daily arrival average during the month ended reached 4,824 while…

Maldives Marketing and Public Relations Corporation (MMPRC) has launched “Thasveeru: Maldives Through Art” exhibition at Hulhumale’ Central Park. The opening ceremony of the event was attended by the Chief Operating Officer and Managing Director of MMPRC Mr. Thoyyib Mohamed along with the Managing Director of Housing Development Corporation (HDC) Mr. Suhail Ahmed. At the opening ceremony, the MMPRC front-man handed over a token to the Managing Director of HDC representing the handover of stands created for the exhibition. The stands will provide a space for artists to display their work in the future at the Central Park venue. Furthermore, following…

The activities in the fisheries industry of the Maldives showed mixed developments during the third quarter of 2021. Moreover, this reflected from the decline in fish purchases made by fish processing companies while volume of fish exports increased on the other hand during the review quarter. Total fish purchases declined by 34% which translates to 14,186.3 metric tons, majorly due to the 35% drop in the purchase of skipjack tuna. Furthermore, purchases in yellowfin tuna also marked a decline of 31% during the review quarter. Meanwhile, the abandonment of fixed rate purchases by state-owned Maldives Industrial Fisheries Company (MIFCO) in…

Maldives Monetary Authority (MMA) reports that the construction sector of the Maldives expanded during the third quarter of 2021. Furthermore, the central bank affirms that import on construction related materials increased by 32% – a total of USD22.0 million) in annual terms during the review quarter. On the other hand, commercial bank credit to the construction sector registered an annual growth of 7% by the end of Q3-2021, predominantly owing to the growth in credit extended to renovation of resorts and residential housing projects. In addition to this, the commercial bank credit increased during the quarter due to new resort…

According to Maldives Monetary Authority (MMA) on their latest Quarterly Economic Bulletin, the tourism industry of the country showed modest recovery during the third quarter of 2021. Moreover, the industry made recovery following a slowdown in the preceding second quarter of the current year. In central bank’s report, it was noted that the recovery of the economic sector was mainly reflected from the removal of travel ban on visitors from South Asian region, thereby driving up the influx of arrivals from India during the review quarter. Other reasons that played in favor of boosting the activities of the industry include…

Ooredoo Maldives announced on their latest service roll-out; special data packs dedicated to YouTube and infectiously popular vlog application TikTok. Moreover, these packages are focused towards users of these popular applications and the massive benefits includes data bumps from 2GB to up to 100GB; which can be enjoyed throughout the month. As such, the packages are distributed under hourly, daily, weekly and monthly periods with prices starting from just MVR10 and reaching up to MVR250. Furthermore, the newly unveiled data plans for TikTok users include; TikTok Hourly (1hr validity – 2GB) – MVR10.00 TikTok Daily (24hrs validity – 20GB) -…

Dusit Thani Maldives, a luxury Thai-inspired resort situated on Mudhdhoo Island in Baa atoll, has appointed British chef Paul Elliot King as the hotel’s newest Executive Chef. Moreover, the resort affirms that Mr. King has been actively in the culinary industry for more than 30 years, with a rich portfolio originating from United Kingdom and leading all the way to Asia. Mr. King started his illustrious career in the late 1980s in London, where he continued to work in iconic landmarks of the era such as The Savoy and The Dorchester. Furthermore, his gastronomic adventures outside of homeland began with…