Author: Mohamed Reehaan
The recent updates from Maldives Bureau of Statistics reveal the island nation’s Consumer Price Index (inflation rate) fell by 2.17% during June 2021. Moreover, the statistical bureau posts a decline in inflation rate by 2.24% in the review month, when all price groups excluding fish were included, in comparison with the fall of 0.58% in May 2021. Earlier the consumer price index for all groups, inclusive of fish fell by just 0.54% in May 2021. Meanwhile, the statistics bureau confirmed on a CPI uptick by 0.93% through the year up to June 2021 compared with the rise of 2.74% through…
Tuesday, 03rd August – the harbor development project at Haa Alif atoll Ihavandhoo observes an overall 57% progress, reports Maldives Transport and Contracting Company (MTCC). Moreover, the contractor affirms commencing the casting works for the old harbor’s pavement on Monday, 02nd August. The project scope includes dredging and excavation operations spanning 30,509 cubic meters along with the construction of a 95 meter quay wall and a 284 meter breakwater as well as a 178 meter revetment. Additionally, MTCC will install both navigation and street lights as well as construct a pavement area spanning 4,582 square meters. MTCC reports the project…
Tuesday, 03rd August – Maldives Transport and Contracting Company (MTCC) reports on latest updates of Raa atoll Ungoofaaru road development project. According to the contractor, the project has observed an 85% progress so far while they have completed subgrade works of the carriageway. Meanwhile, MTCC is executing the installation of the aggregate base course (ABC layer) with 95% progress Work scope of the project include construction of roads across the island spanning a total area of 16,488 square meters which will include installation of ABC layer and subgrade works in the same area. Additionally, MTCC will install a storm-water management…
Maldivian telecom giant Dhiraagu posts a net profit of MVR195.8 million in the second quarter of 2021. According to the recently publicized quarterly financial statement from the telecommunication and internet service provider, it had generated a quarterly revenue of MVR617.4 million. Moreover, both the revenue earned as well as the profit retained slightly dipped when compared with the initial quarter of the year – a 6% decrease precisely. The company’s revenue stood at MVR660.2 million and retained profit at MVR219.8 million during the first quarter. According to Dhiraagu, the company faced unexpected challenges due to the abrupt reemergence of Covid-19…
Monday, 02nd August – The International Monetary Fund (IMF) details out a set of recommendations to Maldives government on improving the state’s fiscal transparency. In a detail report by IMF, compiled by its team of advisors and financial experts, it was noted that the the island nation was slowly making considerable progress in fiscal transparency over the recent years. Moreover, the delegation remotely conducted a thorough assessment of the country’s existing fiscal policies as well as the dissemination of financial statistics of the government bodies for public consumption. Furthermore, IMF had found that the overall performance “across fiscal reporting practices”…
Monday, 02nd August – Male’ City Council has commenced work on their latest initiative, which involves cleaning up the roads of Maldives capital from abandoned vehicles. According to the authority, they will be working with relevant authorities to tow and dispose unclaimed or abandoned vehicles that have been parked idle for a significant period. Moreover, initiative includes towing both four-wheelers as well as motorbikes that have been sitting idle without owner claims. Male’ City Council is assisted in this endeavor by Maldives Police Service. Earlier, the council authority had identified abandoned vehicles through a survey which revealed close to 20…
Monday, 02nd August – Maldives Transport and Contracting Company (MTCC) confirms an overall 50% progress of the harbor development project Raa atoll Angolhitheem. Moreover, with most of the work underway the contractor had attested on completing the quay wall structure attached with the harbor. Reportedly, MTCC had completed quay wall construction on 24 June 2021. MTCC is currently installing harbor pavement which will measure a total of 1,110 square meters upon completion, while 55% of the work has already been completed. Furthermore, the project scope includes dredging and excavation operations spanning 42,615 cubic meters in volume along with the construction…
Sunday, 01st August – According to Maldives Pension Administration Office, a total of MVR123 million have been disbursed as pension during July 2021. The latest statistical update publicized by the authority, reveal the dominant portion of the pension disbursement was issued out as basic pension which is over MVR90 million issued out to a total of 19,107 pensioners. According to the existing policies of MPAO, Maldivians aged 65 and above are subject to the basic pension – a lifetime pension benefit for the senior citizens. Moreover, over MVR7 million were issued out as retirement pension to a total of 1,444…
Sunday, 01st August – Kudadoo Maldives Private Island has entered into a new partnership; with XO, a leading private aviation company to provide exclusive private jet transfers to holidaymakers. According to the high-tier luxury tourist destination, the private jet experience under the new partnership will be available for holidaymakers opting to bypass the commercial airliners in reaching the resort – available all year-round. Guests will receive all the luxury-end amenities and personalized service onboard the XO private jet transfers during their trip. The private transfers will either land at Velana International Airport, and then have guests transferred to the resort…
Sunday, 01st August – Male’ City’s mayor Dr. Mohamed Muizzu announces new mega-parking venue at the satellite town of Hulhumale’. According to the capital city’s mayor, Male’ City Council has already initiated works for the massive parking structure aimed towards Hulhumale’ residents. Dr. Muizzu through a tweet made on Sunday, confirms initiation of preliminary works for the construction of the parking venue which will hold a minimum capacity of accommodating 500 vehicles simultaneously. The project will greatly reduce the number of four-wheelers parked across the streets and lanes in Hulhumale’. Since taking office, Male’ City’s mayor along with his team…