Author: Mohamed Reehaan
The Maldives government has recorded a healthy fiscal surplus of MVR 2.06 billion in the first two months of 2026, according to the latest Weekly Fiscal Development report released by the Ministry of Finance and Planning, signalling a stronger-than-expected start to the financial year. Cumulative revenues and grants reached MVR 8.68 billion as of 5 March, outpacing the same period last year when collections stood at MVR 7.87 billion. Total expenditure over the same period came in at MVR 6.62 billion, up from MVR 6.14 billion a year earlier, leaving the government in a notably comfortable fiscal position relative to…
Tourist arrivals to the Maldives have fallen sharply this month, with figures pointing to a 23% decline compared to the same period last year, as the ongoing Middle East conflict continues to disrupt major air travel routes. Data released by the Ministry of Tourism shows that 58,900 tourists arrived in the Maldives as of 13 March, down from 77,100 during the equivalent period in March last year, a difference of roughly 19,000 visitors. The timing is particularly significant, as March typically ranks among the strongest month of the year for Maldivian tourism. Industry observers attribute much of the downturn to…
The State Trading Organization (STO) has moved to reassure the public that the Maldives’ fuel supply remains secure, even as escalating tensions in the Middle East send global oil prices sharply higher. Speaking on the matter, STO Managing Director Shimad Ibrahim confirmed that domestic fuel storage levels are stable and that importers are being managed strategically to prevent any disruption to supply. He noted that current reserves are sufficient to last two weeks, with an additional shipment due to arrive within the coming week. Further deliveries are expected on the 20th and 23rd of this month. However, Mr. Shimad was…
Cinnamon Dhonveli Maldives has rolled out a structured coral restoration programme targeting the recovery of its surrounding house reef, as coral ecosystems worldwide face mounting pressure from climate change and human intrusion. The initiative marks the latest step in the resort’s broader sustainability agenda, with the recent installation of 25 coral frames across the lagoon and reef areas. Each frame has been planted with coral fragments sourced from naturally broken corals found within the surrounding waters. Coral reefs rank among the planet’s most ecologically sensitive environments, supporting thousands of marine species while also serving as natural coastal barriers. Rising ocean…
Visit Maldives Corporation (VMC) has officially formalized its participation in Belgrade Expo 2027 following the conclusion of the Second Annual Planning Meeting held in Belgrade. VMC’s Chief Executive Officer and Managing Director Mr. Ibrahim Shiuree signed the agreement, solidifying the country’s commitment to this major global platform. Belgrade Expo 2027, themed “Play for Humanity: Sport and Music for All” is slated to take place in Belgrade from 15 May to 15 August next year. The event reportedly, will attract more than 120 participating countries and attract over four million visitors, making this, one of the largest international gatherings scheduled for…
State Trading Organization (STO) has announced the nominees for the Board of Directors representing public shareholders for the term of 2026 to 2027. The notice inviting nominations for the position of Director to represent public shareholders was issued on January 2026, with the application window closing on 25 February. Two individuals submitted their applications for the position. The company’s Nomination and Remuneration Committee reviewed the submitted documents and, in accordance with the committee’s recommendations, the Board has approved the two candidates for election at the Annual General Meeting. The candidates are Mr. Mohamed Ahsan Saleem and Mr. Abdulla Yasir. Out…
The Qasim Ibrahim School of Buinsess at Villa College has achieved accreditation from the South Asian Quality Assurance System (SAQS) for 13 of its academic programs. The Association of Management Development Institutions in South Asia (AMDISA) manages SAQS, which is a regional accreditation system with the aim of maintaining high standards among business schools. To date, only 66 universities and business schools within the South Asian region have attained this prestigious recognition. Villa College’s Business School has become the first-ever in the Maldives to achieve the accreditation. Villa College Business School Programs That Received SAQS Accreditation: Master of Arts in…
As part of the major strategic project to relocate the Maldives’ primary commercial port to Thilafushi, the Government has announced an invitation for consultancy firms to undertake the detailed design of the terminal and all associated facilities. This initiative stands as one of the most significant economic infrastructure projects in the Greater Male’ Region. Notably, key components of Phase 1 were contracted to China Harbour Engineering Company (CHEC) in February 2026. The decision to relocate the 40-year-old Male’ Commercial Harbour to Thilafushi represents a pivotal policy shift by the current administration. By reversing the previous administration’s plan to develop the…
Allied Insurance Company of the Maldives on Wednesday, March 11, has brought to public’s attention of fraudulent social media accounts contacting participants of the Allied iPhone Drop Giveaway. The premier insurance service provider in Maldives, in a statement said it was alerted to these fraudulent accounts targeting the campaign and were requesting participants to complete a Google Form. Allied informed the public that the company has not “sent any Google Forms or external links to participants of the giveaway”, and added that any messages that asked participants to fill out forms or share personal information through unofficial links are not…
The People’s Majlis on Sunday, March 8, passed an amendment to the Employment Act, exempting micro, small, and medium-sized enterprises (MSMEs) from paying the quota fees required when recruiting foreign workers to the Maldives. The bill, submitted on behalf of the government by Madaveli MP, Mohamed Shameez, was passed unanimously with the consensus of all 62 members present at the sitting. During the committee stage, no changes were made to the amendment originally proposed on February 17. Under this new provision, the Cabinet is empowered to exempt employers belonging to specific categories of business from paying the quota fee. Criteria…