Author: Mohamed Reehaan

According to Ministry of Finance in their most recent Weekly Fiscal Developments, the cumulative total of state expenditure has reached MVR15,954.4 million (MVR15.95 billion) as of 16th June 2022. On the other hand, the cumulative total of state revenues inclusive of foreign grants by the same review period reached MVR12,319.1 million (MVR12.3 billion). State has spent 75% of its budget total for 2022 on recurrent expenses and the remaining 25% on capital expenditure. Meanwhile, 70% of the state’s earnings came through tax sources and the remaining 30% from non-tax sources. Due to the higher expenditure of the government compared to…

Maldives Transport and Contracting Company (MTCC) launches its Raajje-Transport Link (RTL) high-speed ferry services in Haa Alif atoll. In order to commence operations in the northern-most atoll of Maldives, MTCC has already dispatched five of its RTL high-end speed boats that will be used as ferries in the service. Meanwhile, with the commencement of operations in Haa Alif atoll, two out of the three atolls under zone-1 are currently covered under the Integrated National Public Ferry Network. Furthermore, MTCC confirms that operations under phase-1 of the initiative will next expand to Shaviyani atoll; the last in Phase-1. The integrated high-speed…

Thailand’s flagship carrier Bangkok Airways recommence their flight operations to the Maldives following the hiatus amid Covid-19 pandemic. The airline’s flights will operate between Bangkok’s Suvarnabhumi International Airport and Velana International Airport (VIA) of the island nation. Maldives Airports Company Limited (MACL) had welcomed the recommencement of Bangkok flagship carrier’s operations to the island nation via a tweet. Meanwhile, the airline will have scheduled flight landings on Sundays, Mondays, Wednesdays and Fridays of every week. This also marks yet another major international carrier recommencing its operations to the tourism-heavy archipelago following a pause in its operations due to the global…

State Electric Company Limited (STELCO) announced that parts of Maafannu district of Maldives capital city will experience power outages on Sunday, 26th June. According to the utility provider, it will be conducting a transformer upgrade work between 13:00hrs and 15:45hrs on Sunday afternoon. During the upgrade process, some parts of the district will experience power outages for approximately 45 minutes. The areas that are likely to experience this include; Izzuddeen Magu Majeedhee Magu Handhuvaree Hingun Shaheed Ali Hingun Muniya Magu Flooniya Magu Haveeree Hingun Meanwhile, the utility provider has apologized to its consumer base for the inconvenience this will cause.

State Trading Organization (STO) recently announced further increment to the retail price on fuel. According to the largest state-owned enterprise, the new retail prices will be effective from Friday, 24th June 2022 onwards. With regards to STO’s decision, petrol will now be sold at MVR16.55 per liter and diesel at MVR16.77 per liter at the refueling stations run by STO’s sister company Fuel Supplies Maldives (FSM). Previously, STO had bumped prices on petrol and diesel on 04th March 2022. STO had back then, bumped the prices to MVR14.80 per liter on diesel and MVR14.60 per liter on petrol. This price…

According to the most recent updates from Ministry of Tourism, the total tourist arrivals reached 784,107 as of 22nd June 2022. Meanwhile, tourist arrivals so far in the year has observed an increment of 58.4% when compared with the corresponding period in 2021. During the same period last year, Maldives welcomed a total of 494,924 arrivals. Though the tourist arrivals showed significant improvement in 2022 compared to the previous year, it is still 5.7% below pre-pandemic levels in 2019 (for the same period). As such, tourist arrivals to the island nation was recorded at 831,549 during the same period in…

State Electric Company Limited (STELCO) has been contracted with the waste management of Kaafu atoll Maafushi. The agreement was signed on Wednesday afternoon at the main headquarter of STELCO, with the utility provider’s General Manager Mr. Ahmed Shafeeu signing on behalf of the company and Maafushi Council’s president Mr. Hussain Salaah signing on behalf of the local tourism heavy island. The signing ceremony was graced by STELCO’s Managing Director Mr. Ahmed Shareef. Under the contract, STELCO will develop a state-of-the-art waste disposal site with the capability of distinguishing and segregating various waste groups. Additionally, STELCO will adopt feasible disposing approaches…

A culturally and historically significant landmark, the minaret at the famous ‘Hukuru Miskiy’ is getting a complete ‘facelift.’ State Electric Company Limited (STELCO) has officially commenced the clean up of one of the most important landmarks in the island nation which has over the years collected dirt, and had its paint come off. The utility provider had previously, on three separate occasions had cleaned up the minaret as well as the water wells inside the ‘Hukuru Miskiy’ (Friday Mosque) premises. Back in 2019, Ministry of Arts, Culture and Heritage had contracted STELCO with the maintenance and clean-up of the Friday…

Global supermodel icon, Elena Fernandes was seen holidaying in the tropical Indian Ocean archipelago. The international model and actor, who makes frequent appearances in Vogue, GQ and Harpers Bazaar had enjoyed a blissful getaway in the luxury tourist venue SAii Lagoon as well as in the famous local tourism hotspot; Thoddoo during her visit in the island nation. Fernandes stopped in front of the camera lenses for amazing clicks during her trip from 10th to 15th June 2022. She was hosted by Kingsways Thoddoo Maldives, a beautiful boutique hotel that recently opened in the local tourism hotspot, during her visit.…

Bank of Maldives (BML) has announced three of its BML Scholarship Fund recipients for 2022. According to the national bank of the island nation, the finalized recipients are Ahmed Nisaal Abdulla, Aminath Maisa Niyaz and Ismail Zakwan Shihad. “Bank of Maldives is proud to award the first of our fully funded scholarships to three outstanding young Maldivians. The scholarship offers the opportunity to develop the next generation of leaders in the country and we are pleased to have selected candidates who have demonstrated exceptional academic achievements and leadership potential,” said Mr. Timothy Sawyer, the Chief Executive Officer and Managing Director…