Author: Mohamed Reehaan

The OBLU SELECT Lobigili, the ‘Colors of OBLU’ brand under Atmosphere Hotels and Resorts has grabbed the “Best New Hotel” award at the 2023 TripAdvisor Travelers’ Choice Awards. The property received the “rookie of the year” status, ranking first place in the world in this year’s Travelers’ Choice Best of the Best Hotel awards. The luxury property, conveniently located 15-minute speedboat trip away from the country’s main air gateway, Velana International Airport (VIA) is a renowned haven for couples and honeymooners seeking a once-in-a-lifetime getaway. The property’s name is derived from two Dhivehi words; “LOBI” which signifies love, and “GILI”…

ADK Hospital announced that its annual Brain and Spine Conference for 2023 is scheduled for October. According to ADK Hospital’s Managing Director Ahmed Affal, the conference for this year is scheduled on October 25-26. “This is the largest health sector conference held in the Maldives, and many anticipate for this annual event. All interested parties wishing to participate can register for the event now,” Affal said. Healthcare professionals band together for this annual event where medical findings, research work, and innovations are shared and discussed. The event also serves as platform for ADK Hospital to announce new services and offers.…

Maldives President Ibrahim Mohamed Solih has claimed that over 7,000 beds will be added to the tourism operation in Addu City once the ongoing projects in the atoll conclude. The president made the remarks at the inauguration ceremony of the large-scale land reclamation project in the city. The ceremony was held at the now reclaimed area in Addu atoll Maradhoo. With the inclusion of the Hankede Project, which was a pledged initiative of the previous government, the area will observe an increment of 7,600 beds in total. The Addu Hankede Project will reportedly have 2,872 beds, while the remaining beds…

State Trading Organization (STO) has received the not to start international bunkering services, confirmed its Managing Director Abdulla Saeed. Saeed made the revelation during the company’s recently Annual General Meeting. With this move, the largest state-owned enterprise (SOE) in the Maldives eyes to expand its operations and increase its revenue streams. The enterprise is currently working on establishing an oil storage facility in Ihavandhippolhu, which will facilitate the bunkering services. Saeed further said that preparations are already underway to commence the bunkering service with the support of a foreign consultant. “We are in the process of starting international bunkering,” said…

Oman’s national carrier, Oman Air has revealed its hotly anticipated summer schedule for 2023, introducing four weekly flights to the Maldives beginning from 24th June. Since establishing in 1993, Oman Air initially focused on domestic routes, but continued with rapid expansion to become a major international airline. The airline has been honored by notable industry accolades including a prestigious Five-Star Covid-19 Airline Safety Rating from Skytrax and two back-to-back Five-Star Major Airline Ratings in 2021 and 2022 from the Airline Passenger Experience Association (APEX).

State Trading Organization’s (STO) board of directors has announced a dividend of MVR 77 per share. The board decided with the dividend based on the company’s profitable performance in 2022. The approved dividend is MVR 12 per share higher than the dividend distributed in 2021. During the Annual General Meeting held at Central Park, STO board endorsed the appointment of Mohamed Ahsan Saleem as a new board director, representing general shareholders. STO appointed PriceWaterhouseCoopers (PwC) as their official auditor for the 2023 fiscal year. STO reported a gross revenue of MVR 18.2 billion in 2022, a significant bump from the…

Maldives Pension Administration Office (MPAO) has revealed that the Maldives Pension Fund has reached a total of MVR 20.5 billion. During the “Maldives Financial Forum”, the authority presented statistics showing a collective increase in accrued pension rights, pension’s investment, Shari’ah funds, and housing funds. The accrued pension rights are the retirement benefits allowance provided to employees below 65 years, and was implemented before the Maldives Pension Act came into force. The pension fund excluding accrued rights, reached a total of MVR 16.5 million since the implementation of the Pension Act. While speaking at the Financial Forum, the Chief Executive Officer…

The Minister of Economic Development, Fayyaz Ismail expressed concerns over the delay of two workers’ rights bills in the parliament. Fayyaz, who also serves as the ruling Maldivian Democratic Party (MDP) chairperson, said that the industrial relations and occupational safety bills in safeguarding workers’ rights are crucial to the Maldivian economy. The minister further stressed on the importance of giving equal treatment to the bills as other motions submitted to the parliament. He highlighted the importance of including them on the agenda for discussion and approval. While speaking about the bills, the minister said that no progress has been made…

The Deputy Governor of Maldives Monetary Authority (MMA) Ahmed Imad said that discussions are now underway to create a digital version of the Maldivian Rufiyaa. While speaking at the Maldives Financial Forum, which commenced on 29th May, the Deputy Governor said that 94% of the usable currency in the Maldives is currently digital. He added that this was indicative of the wide banking and financial technology (FinTech) opportunities in the Maldives. Imad also said that the introduction of cryptocurrency and digital token options in the Maldivian financial sector will enhance the financial transactions and contribute towards the collective growth of…

Maldives Marketing and Public Relations Corporation (MMPRC) has participated in this year’s Riyadh Travel Fair (RTF) to market the destination in Saudi Arabia. Besides MMPRC heading the contingent, 26 participants representing 15 companies took part in the fair that was held in Riyadh, Saudi Arabia from 22nd to 24th May 2023. MMPRC participated in the fair to strengthen the Maldivian tourism brand and presence in the Saudi Arabian market, achieve growth in arrivals, promote halal tourism, and target affluent travelers in the Middle East. RTF 2023 is a significant annual event in which leading travel and tourism companies gather with…