Author: Mohamed Reehaan
The Maldives Virtual Tour Expo (MVT Expo), a virtual consumer travel fair on maldivesvirtualtour.com has been scheduled for July 2022. The virtual travel fair will offer “unbeatable holiday” packages across the Maldives for one month, and will officially kick off on 01st July lasting until 31st of the month. Moreover, it has been reported that the virtual consumer travel fair is going to be the “largest virtual fair of the Maldives” approximately reaching over 10 million travelers across the globe. The virtual expo will feature over 1,000 virtual tours from 50 different islands across the Maldives. Throughout the expo, Maldives…
Bank of Maldives (BML) on Monday, 28th February 2022, reported on opening a new self-service banking ATM center in Raa atoll Maduvvari. The new service introduction comes as part of the bank’s strategy to expand banking services to support local communities. The self-service banking ATM center will provide cash withdrawal, deposit, and transfer services to individuals and businesses on a 24-hour basis. Currently, the atoll has two branches with self-service banking facilities in Ungoofaaru and Meedhoo. In addition to this, self-service banking centers have been established in the islands of Alifushi, Dhuvaafaru, and now Maduvvari. Speaking about the bank’s expansion,…
Bank of Maldives (BML) has opened a new Housing Grant initiative as part of the series of twelve high-impact monthly community initiatives to celebrate the bank’s 40th anniversary slated for November 2022. Under the new CSR initiative, the national bank of the island nation will build and fully furnish houses of at least three vulnerable families selected across the country. Commenting about the bank’s new initiative, its Chief Executive and Managing Director Mr. Tim Sawyer said, “The initiative announced today aims to help the most vulnerable families in our communities by providing a safe and healthy environment to live in.…
State Electric Company Limited (STELCO) has launched its Powerhouse Managers’ Development Program. The utility provider on Sunday, 27th February, noted that the program falls in line with the corporation’s strategies of improving performances of its various powerhouse units in the country, as well as improving its service infrastructure. The program was officiated by the Maldives Minister of Environment, Climate Change and Technology Ms. Aminath Shauna. Under the program, managers working in the powerhouse outlets of 30 local islands will participate in a 7-day workshop focused on capacity and professional development. Moreover, it was reported by STELCO that the program focuses…
Maldives Marketing and Public Relations Corporation (MMPRC) has reportedly signed with Seera Group, a Middle Eastern travel services firm, for a new marketing campaign. The agreement made with Almosafer, Seera Group’s flagship consumer travel brand aims to promote the island nation as a safe haven, ready to welcome travelers from Saudi Arabia and the Middle Eastern markets. Moreover, the campaign aims to maintain destination presence and traveler engagement by sharing the latest travel updates, information, and guidelines of the Maldives to potential travelers as well as encouraging them to book holidays. According to MMPRC, they hope the campaign activities will…
State Electric Company Limited (STELCO) has announced a special children’s eve on 25th February 2022, Friday. The special evening catered to the children is part of the utility provider’s “Save Energy” campaign initiative to raise public awareness on hiking electricity usage amid the sunny season. Moreover, the campaign, officially launched on 13th February 2022 aims to educate the masses on energy-saving methods and proper utilization of appliances during the sunny season. The special “Kids Evening” event is scheduled from 16:30hrs until 18:30hrs at the Central Park venue of Hulhumale’. In addition to this, STELCO announced several fun activities for the…
Just over an hour after the Russian president Vladimir Putin announced a “special military operation” in Ukraine, world oil prices soared to record highs. On Thursday, 24th February, it was reported that the West Texas Intermediate Crude price shot up by 4.19% reaching USD96 per barrel. Meanwhile, Brent Crude which measures international activity in Europe reached USD101.25 by midnight. As the war has erupted between Russia and Ukraine, the geopolitical tensions have carried alarming implications on international oil prices. “We expect crude oil prices to remain volatile and rise from current levels if geopolitical concerns do not materially ease,” a…
Maldives Ports Limited (MPL) on Thursday, 24th February 2022, urged local consignees to clear out long overdue goods from the commercial harbor site. According to the port authority, relevant consignees have been given the warning effective on 23rd February, Wednesday, urging them to clear the goods within seven days starting from Wednesday. Moreover, the authority had requested to fulfill all necessary formalities if goods have been held at the harbor site due to the intervention of other relevant authorities. MPL had warned that failure to comply with their request during the seven-day period will result in the auctioning of the…
The latest update from the Ministry of Finance has revealed that the cumulative total of state expenditure has reached MVR3,085.3 million (MVR3.09 billion). On the other hand, revenues inclusive of foreign grants were reportedly higher than the expenditure, reaching a cumulative total of MVR3,251.6 million (MVR3.3 billion). With this, the overall balance for the period is a surplus of MVR166.3 million. Much like the previous weeks, tax sources remain as the state’s strongest revenue streams such as TGST, GGST, and BPT. Expenditure composition revealed that the state has spent 77% of the total on recurrent needs and the remaining 23%…
According to Maldives Airports Company Limited (MACL), the Velana International Airport (VIA) observed double increment on passenger movements in January 2022. As per the airport’s management company, passenger movement in the previous increased twice that of the same month in 2021. In 2021, passenger movements in January were recorded at 257,693 whereas, passenger movements during the previous month reached 446,688. Moreover, the airport observed more outbound travelers than inbound travelers. According to MACL’s statistics, during January 2022 the total number of outbound travelers reached 163,908 while the total number of inbound travelers stood at 158,409. In addition to this, the…