Author: Mohamed Reehaan

Maldives Customs revenue was up by 11% in November 2022, reports the authority. According to Customs, it collected MVR359 million in gross revenue for the review month. Imports, inclusive of fuel, rose to 15% in the review month. Total imports inclusive of fuel stood at MVR4.6 billion. However, imports excluding fuel had gone up only by 4% in the month, which is MVR3.5 billion. On the other hand, exports observed a 5% drop, which is a total of MVR168 million worth commodities. Major Import Categories Fuel (marine gas – diesel, petrol, aviation gas) – MVR 1 billion Food (excluding pork,…

Maldives Industrial Fisheries Company (MIFCO) launches two new products under their Fasmeeru brand of canned products. The products were launched commemorating the Fishermen’s Day, on 10th December. MIFCO launched its new tuna chunks in oil with garlic and smoked tuna in olive oil. The tuna processor and exporter confirms these new products will complemented local cuisines. According to MIFCO, out of the newly introduced products, their tuna chunks in oil with garlic received favorable responses at the expo held in Faremaathoda. The expo was held to commemorate Fishermen’s Day activities this year.

Maldives Transport and Contracting Company (MTCC) has provided recent updates on two of its ongoing infrastructural and development projects. According to the company’s most recent update, HDh. Hanimaadhoo harbor development project has inched close to completion, with 93% progress. The contractor is currently working on the construction of the concrete jetty, which comes under project components. Completed scope of works under the harbor development project include, new harbor basin dredging, existing channel dredging, construction of breakwater, quay wall, revetment and groyne. Additional components included construction of a ramp, bridge and installation of harbor lights. Project value is reportedly a total…

In celebration of the festive season, Hideaway Beach Resort and Spa announces an interesting surprise for its guests; a three-bedroom liveaboard. Dubbed the “Hideaway Majesty” is a Ferretti yacht with three bedrooms, and touted as the perfect choice for couples, groups or families by the resort. The liveaboard can be booked for transfers and charters, allowing guests to stay and explore the Maldivian atolls and islands, get in touch with the idyllic livelihood of the local residents and find how the people on this side of the world lived their day-to-days. The yacht features, state-of-the-art amenities, comes with a kitchen…

State earned a total of MVR1.51 billion in revenues for November 2022, reports Maldives Inland Revenue Authority (MIRA). From the monthly total, state earned 63.68 million in US dollars. Statistics from the authority confirmed revenues were up 20.4% in comparison to corresponding month last year. Earnings were also up 43.7% from initial projections for the review month. MIRA reports, its earning increased in comparison with the same month last year owing to the rise in earnings from lease period extension fee, income tax, airport development fee, departure tax, TGST and green tax. Airport taxes increased owing to tax rate change…

The cumulative total of state expenditure reached MVR33.5 billion as of 01 December, reports Ministry of Finance. The approved expenditure total for the year is now MVR39.9 billion. The initial approved budget for 2022 was MVR34.2 billion. Recently Maldives parliament approved government’s decision for a MVR5.8 billion supplementary budget for the year. Meanwhile, state revenues inclusive of grants have exceeded projected total for the year. The cumulative total of revenues, inclusive of grants, have reached MVR24.8 billion, against a projected total of MVR24.3 billion. The overall balance for the period is a deficit of MVR8.7 billion.

Maldives Transport and Contracting Company (MTCC) has been contracted with the second phase of Maafaru International Airport development and expansion. The project will reportedly cost MVR 443 million. MVR418 million of the total will be funded by Abu Dhabi Fund for Development (ADFD), remaining MVR25 million will be spent by state. MTCC Managing Director Adam Azim signed on behalf of the contractor, while Director General of Ministry of National Planning, Housing and Infrastructure (MNPHI) Fathimath Shana Farooq signed on behalf of the government. Project scope includes extending the runway by an additional 650 meters, widening the landing strip along with…

Fushifaru Maldives, situated in Lhaviyani atoll, has received four distinct accolades at the 2022 LUXE Global Awards. The boutique resort was granted the global winner under the following categories; Best Luxury Island Resort Best Luxury Boutique Resort Best Authentic Experience Resort Best Luxury Sustainable Resort LUXE Global awards, that recognizes industry excellence and best practice standards, was established in 2021. The brand aims to empower and showcase the most luxurious hotel brands, spas and restaurants from around the globe. The awards brand has also been dubbed the most exclusive travel and trade award in the world. Speaking about the win,…

Sheraton Maldives Full Moon Resort and Spa will be hosting the first-ever Festive Artisan market on 22nd December between 13:00hrs and 17:00hrs. The Festive Artisan Market is a culture and community focused initiative, bringing local artisan and designers together, where they will showcase their products. Guests will be able to explore unique products made by these creatives, and get to experience the Maldivian culture. General Manager of Full Moon Resort and Spa, Mohamed El Aghoury said, “The Artisan Market is a distinctive way for guests visiting the resort to celebrate the festive season and enjoy a day of fun and…

The National Awards Committee at the President’s Office announced on Wednesday, 07th December, that the National Award for Public Service for 2022 will be presented on 16th February 2023. The awards were initially scheduled for December this year. President Ibrahim Mohamed Solih will present badges, shields and certificates to the award recipients. The National Awards Committee, mandated with the vetting and selection process of the recipients of the awards, received a total of 110 nominations this year. The National Award for Public Service is the most prestigious national award conferred by the Maldives President. The award is given to individuals…