Author: Mohamed Reehaan
Maldives President Dr. Mohamed Muizzu has ratified the Industrial Relations Bill on Monday, January 02, 2024. The bill was passed by the parliament at the 37th sitting of its third session held on Monday, December 18, 2023. The bill outlines activities promoting the exercise of constitutional rights including the right to form trade unions and participation in, or abstinence from their activities and the parameters for such rights. The bill further specifies the procedures in creating employee and employer trade unions, the procedures on resolving disputes between the said parties and other trade union-related details. Under the newly ratified bill,…
Maldives has welcomed its first tourist of the year early on Monday morning, January 1, 2024. The Ministry of Tourism has announced an annual tourist arrival target of two million for the new year. The first tourist to land in the Maldives in 2024 was Duncan Moore, a UK citizen, which also marks his first-ever visit to the island nation. Minister of Tourism Ibrahim Faisal along with senior officials of the ministry welcomed Moore at Velana International Airport (VIA) on Monday early morning.
Minister of Tourism Ibrahim Faisal has said that the current government aims on expediting the development of 63 islands allocated for tourism, for which the state is currently holding discussions. Minister Faisal, while speaking in a program aired by the state-run media, said that he has gathered information on the islands leased for tourism since taking charge of the ministry. He reports that the ministry’s statistics showed 63 have been leased for resort development, and are poised to open in the future, while some of the islands have been leased 10 to 20 years back. The ministry launched discussions with…
The Maldives Airports Company Limited (MACL) has said that with the development of new parking avenues, the Velana International Airport (VIA) is ready for tourism peak season. A press release by MACL said VIA has leveraged its new parking slots (RAMP areas) at the international airport venue to prepare for the winter tourism peak which would be able to accommodate a total of 68 jets; a historic number for the airport. MACL further said the accomplishment was testament to the efficiency and capacity enhancements brought about by the newly designated parking areas for the General Aviation aircraft. Before the new…
Maldives Islamic Bank (MIB) has established new service centers in Dhaalu atoll Kudahuvadhoo and Alifu Dhaalu atoll Mahibadhoo. The new centers were opened as part of the bank’s efforts for nationwide expansion. MIB adds that while most of the bank’s services are now online, the two centers will provide services to customers who require them. The two centers aim to strengthen the relationship between the bank and its customer, enhancing the ease of access. The centers provide cash deposits and withdrawal facilities.
According to Regional Airports Company Limited (RACL), the development of 1,200-meter runway strip out of the total 2,460 strip in Hanimaadhoo International Airport has neared completion. According to RACL, the first portion of the tarmac (1,200 meters) would be completed by the upcoming month, in January 2024. Post completion, RACL added all necessary permissions would be acquired prior to opening the new tarmac for operations. With the new tarmac, night-landing facility would be enhanced at the international airport. RACL further reports the entire tarmac spanning 2,460 meters would be completed by the second quarter of 2024, after which the airport…
The billionaire co-founder of Xiaomi Corp has unveiled the company’s first-ever electric vehicle Thursday, December 28. With SU7, the first-ever EV of Xiaomi, the company is poised to compete with prominent EV brands including billionaire Elon Musk’s Tesla and Porsche AG. The abbreviation of SU stands for Speed Ultra, hinting the electric vehicle will be a performance model. Lei Jun, the Chairman and CEO at Xiaomi said the vehicle has been designed in “manner to fulfil the desires of its customers.” While Lei claims Xiaomi SU7 is not aimed at competition, it is well within its league to take on…
Maldives President Dr. Mohamed Muizzu on Wednesday, December 27, has ratified the Company Act (Act No. 7/2023). The bill was passed by the parliament on Tuesday, December 5, 2023, at the 32nd sitting of its third session this year. The Act establishes the terms for the incorporation, registration, operation, and dissolution of companies in the Maldives, along with other rules and procedures applicable to companies in the Maldives. Besides this, the Act stipulates the rules and procedures for establishing, registering, and managing a company as a business entity. It further specifies general, convenient, and favorable terms and conditions for the…
Maldives Inland Revenue Authority (MIRA) reports a total revenue of MVR 1.67 billion for the month of November 2023. According to statistics, this is a 10.5% increment over the same month in 2022. The increment is mainly owed to the increase in the collection of tax sources such as the TGST, GGST, and their respective rate hike in 2023. Additional to this, the expatriate quota fee in 2023, along with dues collection of Tourism Land Rent led to the favorable outcome for the review month, while tourist arrivals in October 2023 increased by 3.5% which led to an increment in…
Maldives Transport and Contracting Company (MTCC) has appointed Hassan Mughnee as the new Deputy Managing Director of the company. The former Managing Director of State Electric Company (STELCO), and the former State Minister of the Ministry of Environment would be joining current Deputy MD Mohamed Jamsheed in the executive team of MTCC. Mughnee’s name was among the first in consideration as the new members of the Privatization and Corporatization Board (PCB) issued by Maldives President Dr. Mohamed Muizzu. He however, later revised the list, citing Mughnee would be required for a different government role.