Author: Mohamed Reehaan
Villa College signs a Memorandum of Understanding with Island Aviation Services Limited to host special training sessions for the students of the college studying in aviation fields. The signing ceremony was held on Sunday at Villa College, while the agreement between the parties ensure that 60 students enrolled in the National Certificate Level 3 of Reservations and Ticketing will receive the training. Moreover, the training session will run for a period of 10 weeks while 50% of the course have been designed with practical components. Furthermore, the course falls under the Skills for Resilient Work-Force program run by Ministry of…
Maldives Transport and Contracting Company (MTCC) that runs one of the strongest ferry services in the country reports on cancelling multiple ferry service trips over worsening weather conditions. According to MTCC, the company reported on cancelling 26 ferry service trips on Sunday, 17th October while 23 out of the these were due to bad weather. Meanwhile, the Maldives Meteorological Service has issued out a yellow alert in the area between Haa Alif and Thaa atoll, confirming possibility of strong winds between 25 to 30 miles-per-hour and gusts reaching 50 miles-per-hour. Furthermore, the seas across the island nation have been rougher…
Effective from 17th October 2021, Bank of Maldives (BML) has confirmed on increasing the limit of foreign transactions via credit cards. According to the national bank of the island nation, the limit has now been increased to USD750 reflected on the bank issued American Express (Green/Gold), Visa (Classic/Gold) and Mastercard (Standard/Gold). Meanwhile, the existing limit of USD250 will continue for all debit cards used locally which are linked to Maldivian Rufiyaa accounts. Furthermore, customers living abroad will have a limit of USD750 per month per debit card while customers with other credit cards not aforementioned will have increased limits based…
The combined bed capacity of Maldives tourist industry have increased to 55,921 in light of the increment in operational tourist resorts. According to the latest updates from Ministry of Tourism, the total number of tourist resorts currently in operation have increased to 166. Meanwhile, total number of tourist properties inclusive of luxury resorts have already reached 1,107 – which includes city hotels, boutique hotels and guesthouses. As such the latest reports confirm a total of 782 operational hotels and guesthouses and another 159 safaris and liveaboards. Furthermore, the combined bed capacity of tourist resorts exclusively has reached to 38,849 while…
State Electric Company Limited (STELCO) has run crucial tests on its systems without facing power cuts in the Greater Male’ Region. Earlier, the utility provider had cautioned the residents in the region of possible power cuts amid the testing. However, the company had confirmed of completing their tests on Saturday morning, 16th October, without facing any interruptions. Moreover, STELCO claims the tests are compulsory for the seamless operations of the company; related to the functioning to the systems in the powerhouse. Meanwhile, the company had expressed its gratitude to the public for their continued support and cooperation. Earlier STELCO had…
According to Maldives Customs Service, the imports to the country inclusive of fuel increased by 90% in September 2021 when compared with the corresponding period in 2020. On the other hand, exports from the Maldives observed a decline of 13% while the major export commodities of the country include yellowfin tuna, skipjack tuna, skipjack or stripe-bellied bonito, yellowfin tuna chunk and yellowfin tuna loins. Major export destinations from the Maldives include Thailand with 42% of the total exports made to the country, Germany with 12% of the total exports, UK with 10%, France with 5% and Italy with 4%. Furthermore,…
According to the latest in the Monthly Fiscal Developments from Ministry of Finance, the total revenues to the state in the month of August 2021 observed a decrease of 32.6% when compared with the same period in 2020. Moreover, the state ministry reported that the total revenues exclusively in the review month reached MVR1,489.8 million (MVR1.5 billion). The ministry had further confirmed that the revenues fell due to the dip in grants received as well as the extension of due date for filing taxes. Meanwhile, the total expenditure of the state in August 2021 declined by 9.2% compared with the…
According to the Ministry of Finance, the cumulative total of state expenditure has reached MVR22,606.3 million (MVR22.6 billion) as of 07th October 2021. Meanwhile, the cumulative total of state revenue inclusive of grants have reached MVR14,971.9 million (MVR14.97 billion). Expenditure composition reveals 77% of the total have been spent on recurrent needs and the remaining 23% on capital needs. On the other hand, revenue composition confirms that 73% of the earnings to the state came from tax revenues and the remaining 27% came from non-tax revenues. Furthermore, the overall balance for the period is a deficit of MVR7,634.4 million (MVR7.6…
The Trans Maldivian Airways (TMA) recently grabbed the “Seaplane Company Global Winner” accolade at the 2021 World Luxury Travel Awards. Moreover, the awarding and gala was held by the Trou aus Biches Beachcomber Golf Resort and Spa in Mauritius on 09th October, Saturday. The World Luxury Travel Awards is a prestigious awarding event recognizing world-class service excellence and the awards may be presented to a country, regional, continental or on a global basis. Furthermore, the winners are selected by votes from guests, travelers and industry stakeholders. Following their win at the World Luxury Travel Awards, TMA has expressed gratitude to…
According to Maldives Inland Revenue Authority (MIRA) the state revenue collection hit MVR1,981.6 million (MVR1.98 billion) in September 2021. Moreover, as per the taxation and revenue authority the revenue to state in the review month observed an increment of 133.5% when compared with the same month in 2020. MIRA had reported that the significant increment of revenue in the review month comes due to increase in the collection of Income Tax, Tourism Land Rent, TGST, GGST, Green Tax, Airport Taxes and Fees. Tourism Land Rent collection showed significant increase owing to the deference of the rent of Q4-2020, which were…