Author: Mohamed Reehaan

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…

Maldives Ports Limited (MPL) has launched a simulator for its Rubber-Tire Gentry (RTG) cranes. The simulator mirrors the actual operations of the RTG crane, which the users can experience without actually having to operate the actual one. This simulator comes as the perfect training experience for crane operators and other MPL employees wishing to improve their technical skills. MPL confirms the simulator was designed and developed by their Tech and Digital Services Department along with its Engineering Department. The simulator was launched at the National Career and Skills Expo, ongoing at Hulhumale’ Central Park.

A delegation from the Coastal Mechanized Sail Vessel Association from India is in talks with the Maldivian government, to strengthen commercial ties between the countries. According to Maldives Ports Limited (MPL), the association from Tuticorin, has met with relevant Maldivian bodies to discuss on ways to improve business between the island nation and Tuticorin’s harbor. The delegation will be in Maldives until Wednesday, 23rd November 2022, for talks. They also visited the Male’ Commercial Harbor, and met with department heads and seniors of MPL. The members currently visiting Maldives are expected to visit the two major regional ports; HDh. Kulhudhuffushi…

The High Commissioner of Sri Lanka to the Maldives Adam Maznavee Jaufer Sadiq paid a courtesy call on Monday, 21st November, to Maldives Vice President Faisal Naseem. The meeting was held at the President’s Office. Speaking at the meeting, Maldives Vice President made emphasis on the strong relations between the countries, while thanking Sri Lankan government for continuous support for the Maldives. Naseem also emphasized the strong bonds between the people of Maldives Sri Lanka. The two also spoke about the ways to further expand relations between the two nations, specifically in trade and investment. Maldives VP also expressed hope…

Coca-Cola wraps up the “Uncap. Believe. Fly. Promotion” rewarding fans ahead of the FIFA World Cup Qatar 2022. The promotion ran from 01st September to 31st October 2022. Daily and weekly winners of the promotion were announced on Television Maldives (TVM) on every Saturday, during the promotion period. From the promotion, a total of 08 fans received an all-expense paid couples trip to watch the FIFA World Cup game live in Qatar with a plus one. Another 08 fans won the Al-Rihla FIFA Official Match balls. Additional 08 winners won gaming consoles together with FIFA ’22 game bundles. Daily winners…

Maldives Marketing and Public Relations Corporation (MMPRC) announced that Maldives has won ‘Best Romantic Destination’ in the Travel + Leisure India’s Best Awards 2022 International Category. The award was announced at the 11th edition of Reader’s Choice Travel + Leisure India’s Best Awards, held on 16th November 2022, at the ITC Maurya, New Delhi. The award was received by High Commissioner-Designate of the Maldives to the India Mr. Ibrahim Shaheeb. The T+L India’s Best Awards 2022 facilitates “the best in travel, hospitality and lifestyle”. The winners are chosen through an online voting platform that run for 60 days, which culminates…

Maldives Media Council in association with Bank of Maldives (BML) hosts a financial journalism workshop. The special workshop, focused on business correspondents and reporters was held on Saturday, 19th November, at Manhattan Business Hotel. Organizers confirm the workshop was divided into five sessions. Information disseminated at the workshop included role of banks in the economy, criteria used by banks in loan issuance as well as digital banking. Additional to this, information on preventive and safety measures, policies and practices by banks and other financial institutions to combat money laundering and terrorism finance were provided. Moreover, participants were given tips and…

Virgin Atlantic announces its decision to launch direct flight operations to the Maldives next year. According various aviation reports, Virgin Atlantic will operate its flights from London Heathrow Airport to Velana International Airport (VIA) three days a week. The airline will reportedly launch its direct flights by the final quarter of 2023, precisely in October. The airline will reportedly operate its Boeing 787-9 commercial carriers to the route, which comes with 31 upper class seats, 35 premium seats and 192 economy-class seats.