Author: Mohamed Reehaan

State revenues are currently MVR5.04 billion less than the government expense in cumulative terms. According to the Ministry of Finance, government expenditure as of 28th July reached MVR20.78 billion. By the same period, revenues hit MVR15.74 billion in annual terms. Moreover, state has spent 75% of its budgetary total on recurrent needs, and the remaining 25% on capital expenses. On the other hand, 75% of state earnings came through tax sources and the remaining 25% from non-tax sources. As of 28th July, cumulative total of tax revenues hit MVR11.83 billion while non-tax total hit MVR3.82 billion. Meanwhile, cumulative total of…

Tourist arrivals to the Maldives reach 960,075 as of 03rd August 2022, with approximately 40,000 shy from hitting the millionth mark. According to the Ministry of Tourism, tourist arrivals in annual terms observed an increment of 53.3% increment compared to same period in 2021. However, it was still 4.8% below pre-pandemic levels in 2019. Tourist arrivals in annual terms for the same period last year stood at 626,314. By the same period in 2019, arrivals breached millionth mark to hit 1,008,734. On the other hand, tourist arrivals for July 2022 stood at 133,561 indicating an increment of 31.5% compared to…

The Chief Executive Officer of Maldives Marketing and Public Relations Corporation (MMPRC) Mr. Thoyyib Mohamed joins the high-level panel discussion of the Pacific Asia Travel Association (PATA) Destination Marketing Forum 2022. The forum started on August 4, Thursday in Songkhla, Thailand. The event invited high-level executives in global destination travel and trade. Among the top profile members of the panel include, Mr. Phiphat Ratchakitprakarn, the Thailand Minister of Tourism and Sports and Ms. Supawan Teerarat, the Senior Vice President of MICE Capability and Innovation, Thailand Convention and Exhibition Bureau (TCEB). Other members of the panel include Ms. Nicola Eliot, the…

Oaga Art Resort’s pushes back their “Audition Day” to 14th August, from 10:00hrs until 17:00hrs of the day. The open-day event will now be hosted at the Manhattan Business Hotel, Male’ City. Prospective candidates at the audition will receive a wide array of instruments, art material and other props to show off their talent and creativity during the event. The resort seeks potential creative minds to fill various positions of the hotel. The resort endorses creativity, which remains as one of its major focuses. Oaga Art Resort lies 45 minutes away from Velana International Airport. The art-centric resort has 60…

Bank of Maldives (BML) earlier, last week, made announcement of the second phase winning recipients of the bank’s Community Fund initiative. The project include; Fish filleting platform – A.A. Himadhoo, submission: Club New Friends RO machine and water dispenser installation in Bodufulhadhoo School, submission: Revolutionary Bodufulhadhoo Generation Fish filleting platform – H.Dh. Neykurendhoo, submission: Association for Neykurendhoo Development Renovation of pre-school park – A.Dh. Fenfushi, submission: Fenfushi Zuvaanuge Dhirun Fish filleting platform – Dh. Hulhudheli, submission: Hulhudheli Island Social & Sports Association The bank’s community fund program aims to empower local NGOs and individuals. BML endorses sustainable projects with community-centric…

State Electric Company Limited (STELCO) on Saturday, 06th August, hands over the apartments to a total of 306 of the company’s employees. The apartments were assigned to these employees from the utility provider’s housing towers developed at Hulhumale’ Phase II. STELCO handed the apartments at a ceremony held on Saturday morning. Meanwhile, the company has yet to assign 52 of the remaining apartments from towers at a later occasion. The utility provider affirmed, these apartments were not handed since its to-be owners, have yet to sign on the official proprietorship agreement. Managing Director Mr. Ahmed Shareef confirmed getting remaining signatories…

Bank of Maldives has re-opened applications for their Small Grants Fund. The fund allows local NGOs additional opportunities to access financing for sustainable environmental projects. BML introduced the fund earlier in 2022 as part of the bank’s 40th anniversary commemoratory activities. According to the bank, the fund is open for NGOs to carry community-based projects. These projects primarily address environmental issues, and promote sustainable development. Applicants must send filled application forms before 15th September 2022 via mail. NGOs registered in Maldives before 31st December 2021 are eligible for the fund.

Maldives President Ibrahim Mohamed Solih on Wednesday, 03rd August, attended the India-Maldives Business Forum held in Mumbai. The forum is hosted by the Confederation of Indian Industry (CII). The event brought together “prominent business leaders from the Maldives and India” to discuss strengthening economic ties between the two countries. In addition to attending the forum held in Mumbai, President Solih attended the India-Maldives Business Forum in New Delhi as well. The Maldives head of state delivered a keynote speech at the New Delhi forum. President Solih is currently on a four-day official visit to India on an official invitation of…

HRS Hospitality & Retail Systems; a global supplier of IT solutions for hospitality and retail businesses, signs as the next gold partner of the upcoming TTM Maldives 2022. The most coveted travel-trade event of the year, the TTM Maldives’ 2022 edition is scheduled from 23rd to 25th August 2022. HRS Hospitality & Retail Systems, recognized as an official Oracle Hospitality Partner provides a wide range of innovative solutions to its customer base including property management, PoS, spa and guest activities, business analytics, payment gateways, mobile applications, channel managers, online distribution services and finance services among other features. TTM Maldives’ newest…

Park Hyatt Maldives Hadahaa unveils their heavily anticipated three-bed overwater suite. Dubbed the Reef Residence, this three-bedroom suite fit for families of six or people traveling in pack spans 895-meters with ensuite air-conditioned bathrooms along with spacious bedrooms. Park Hyatt’s newest residence also boasts a massive 16-meter long freshwater infinity pool with extended terrace area and sunken loungers, and shaded outdoor dining and barbeque area with separate decks off the infinity pool adjoining the master and king bedrooms, granting that “premier pool access.” Noteworthy facilities of the suite include a private state-of-the-art gym facility along with in-villa spa treatments as…