Author: Mohamed Reehaan

The first phase of the Bank of Maldives Community Fund has been announced, while the bank confirms of opening application window. Under the community fund, individuals or registered NGOs can access funds up to MVR50,000 to implement local projects in key areas of interest which include education, environment, sports, and community development. Similar to previous years, Bank of Maldives will award funding to a total of 20 projects under four phases in 2022 as well. Applicants can send in their proposals with supporting documents to [email protected] before 23:59hrs on 27th February 2022.

Kuda Vilingili Resort Maldives launches Green Globe Sustainability Initiative earlier on 03rd February 2022. The event was held to affirm the resort’s commitment to sustainable tourism, while the current Vice Chairman of Global Tourism Economy Research Centre and the former Regional Director for Asia and the Pacific of UNWTO Mr. Xu Jing inaugurated the event as chief guest. Moreover, the event was attended by Maldives Vice President Mr. Faisal Naseem, Minister of Tourism Dr. Abdulla Mausoom, and the Chairman of Kuda Vilingili Resort Maldives Dr. P. Mohamed Ali as guests of honor. The honorable guests planted native trees of the…

According to the latest Economic Update publicized by Maldives Monetary Authority (MMA), the country’s tourist arrivals grew by 70% in December 2021. The central bank’s statistics further confirmed that the tourist bed-nights in the last month of 2021 increased by 65% as well. Both improvements on tourist arrivals and bed-nights were compared with the corresponding month 2020. However, the growth is still below pre-pandemic levels while tourist arrivals rose to 164,284 in December 2021, registering a decline of 4% compared with 171,348 arrivals in December 2019. The annual increase in tourist arrivals reflected the “base effect of the slow pickup…

Telecommunication and internet service provider giant, Ooredoo Maldives schedules their Annual General Meeting for March 2022. During the announcement, Ooredoo Maldives further confirmed that the record-date or “books close” date for the AGM will be Thursday, 17th February 2022 at 14:00hrs. Furthermore, Ooredoo Maldives noted that all persons, including legal entities registered as shareholders of the company at the record date or “books close” date will be eligible to receive dividends. The shareholders eligible to receive dividends at the company’s AGM are expected to attend the event in person or via proxy, as well as participate and cast vote in…

Housing Development Corporation (HDC) announces new CSR opportunity for interested parties to develop ‘pocket parks’ across Hulhumale’. In a statement released by HDC, it had noted that the initiative comes as part of developing the satellite town that offers a “dynamic environment where residents can interact through open spaces.” Safe and accessible open spaces remain a key development focus in the design of Hulhumale’ as per HDC. Under the ‘Pocket Park’ initiative, miniature parks will be erected in specific areas of Hulhumale’ Phase I which will “provide interactive and digital features for resident’s use.” Moreover, these open spaces can be…

The Managing Director of State Electric Company Limited (STELCO) claims on the corporation’s plan to initiate a new solar power output project at Kaafu atoll Gulhi. According to the front-man of STELCO, the project involves establishment of a solar power system at the island in order to provide electricity to the residences. STELCO’s Managing Director, Mr. Hassan Mughnee made the revelation during the special inaugural ceremony held on Tuesday, 01st February 2022, to officially commence operations of the new water and sewerage system in Gulhi. Moreover, Mr. Mughee stated that the government’s ambition remains in the provision of renewable energy…

State Trading Organization (STO) reports a profit after tax of MVR131 million for the final quarter of 2021. Moreover, the profit after tax for the largest state owned enterprise is a 1.5% growth in the review quarter compared to the preceding third quarter of 2021 during which the net profit stood at MVR129 million. In addition to this, the net profit accumulated to STO for the review quarter observed a growth of 36.0% when compared with the corresponding quarter in 2020 during which it stood at just MVR91 million. During the review quarter STO generated a total revenue of MVR3,295…

Ooredoo Maldives, the second major telecommunication provider in the island nation, on Tuesday, 01st February 2022 confirmed that customers will be facing service interruptions. Moreover, the telecommunication and internet service provider further claimed that the interruptions were due to issues faced by the company’s international ISP partner. The situation was updated by Ooredoo Maldives via Twitter, in which the service provider had affirmed its customer base of continued efforts to rectify the issue as soon as possible. Meanwhile, an official of Ooredoo Maldives speaking with local media had notified that engineers from both ends were currently attending to the issue…

Luxury tourist resort Dusit Thani Maldives announces a range of romantic experiences ahead of Valentine’s Day, which will be available throughout the ‘Month of Romance.’ According to Dusit Thani Maldives, the celebratory specials for the month of February include Valentine’s Day dinners with special gifts and exclusive spa and wellness activities. In addition to this, couples will get to enjoy champagne cocktails at the resort’s Sea Grill Restaurant with a special Valentine’s Day “Love Inspired” menu with five-course meal options available. The “Sandbank Romance” special offers couples with a trip to a natural sand bar close to the resort, while…

According to the latest statistical update from Ministry of Tourism the total number of tourist arrivals as of 26th January 2022 reached 109,842. The arrival total by the review period observed a 48.0% growth compared to the corresponding period in 2021 during which the arrival total hit just 76,059. Although arrivals to Maldives observed significant growth from 2021 to 2022, it is still noticeably below the arrival totals in both 2020 and 2019. As such, the tourist arrival for the review period is still 31.16% below that of the figure in 2020 during which the arrival total stood at 150,385.…