Author: Mohamed Reehaan
Maldives President Dr. Mohamed Muizzu, on Tuesday, participated in the Maldives-Germany Business Roundtable in Berlin, Germany. The roundtable – organized by the the Asia-Pacific Committee of German Business – is a key engagement that will strengthen economic cooperation between the Maldives and Germany. The event brought together senior representatives from Germany’s business and investment community. At the roundtable, the countries explored avenues for bilateral trade, private sector collaboration, and long-term commercial partnerships. Talks centered mostly on positioning the Maldives as a reliable investment destination, with focus areas including tourism diversification, renewable energy, infrastructure development, and climate-resilient projects. This engagement is…
The Ministry of Economic Development and Trade on Tuesday, announced authorizing retail outlets to operate until 01:00hrs during Ramadan. According to the Ministry’s official announcement, effective from February 10, and continuing through Ramadan, cafes and restaurants can operate from 17:30hrs until 03:00hrs. Additionally, for the first seven days of Shawwal – the Islamic calendar month that follows Ramadan – these establishments will operate from 04:30hrs until 03:00hrs. Trading hours change traditionally during Ramadan every year to facilitate greater convenience for the public accessing essential goods and services.
Allied Insurance has participated in the Maldives Marine Expo 2026 as the Official Insurance Partner, introducing a specialized Marine Hull promotion and sharing viral insurance information tailored for marine industry stakeholders. A consistent participant since 2014, Allied Insurance views the Marine Expo as a strategic platform to engage with dive schools, water sports centers, boat builders, and various other marine-related businesses. The company’s primary objective is to create awareness regarding essential insurance products and emphasize their importance in safeguarding maritime ventures. Additionally, information on Shari’ah-compliant coverage options was provided through Allied Takaful, the company’s recently rebranded Islamic window. To coincide…
Dhiraagu announces its partnership with MediaNet for a new mobile entertainment offering. The partnership introduces new mobile streaming bundles that couples telecom services with premium entertainment. Customers can watch popular TV channels, on-demand shows and exclusive sports contents. Dhiraagu adds these bundles are available for subscription periods ranging from a month to a year with prices starting as low as MVR 50 per month. The telecom service provider said the cheaper price is purposeful to ensure affordability and convenience for customers. In addition to the MediaNet bundles, Dhiraagu is also offering its Video Club Mobile service which focuses on local…
Maldives Transport and Contracting Company (MTCC) announces preferential discounts for members of Bodu Kanneli Masveringe Union as part of a new strategic partnership. This is the first time a state-owned enterprise has entered into a formal collaboration with a non-governmental organization to support the local fishing community. MTCC and the union signed the agreement on the sidelines of the ongoing Maldives Marine Expo 2026. The initiative will offer 10% discount on Yanmar spare parts and an 8% discount on Castrol marine lubricant products. MTCC says the collaboration will improve access to marine equipment at affordable prices. The SOE said this…
President Dr. Mohamed Muizzu has officially designated 2027 as the “Visit Maldives Year”. While delivering the 206 Presidential Address at the Maldives parliament, the president characterized this initiative as a “monumental national endeavor”. He also emphasized that the campaign will serve as a unified platform, that will bring together both local and international stakeholders. “Tourism remains the gateway of our economy and the primary source of foreign exchange,” the president said. “Transforming ‘Visit Maldives Year’ into an inclusive national success is vital to ensuring that the benefits of this industry reach every Maldivian citizen.” To achieve the ambitious targets sets…
President Dr. Mohamed Muizzu, on Thursday, made a historic announcement while delivering the Presidential Address 2026 at the Maldives parliament, where he revealed plans of enriching locals lives with distribution of profits directly from tourism industry. He said the initiative, part of a strategic development plan, is to develop at least 10 tourist resorts through a state-owned enterprise over the next three years and have a portion of the profits generated from these properties credited directly into the bank account of every Maldivian citizen. In his address, President Muizzu noted that while the Maldivian tourism industry has spanned for over…
Maldives President Dr. Mohamed Muizzu has announced the country has achieved a historical milestone in its gross international reserves. According to the Maldives head of state, this staggering reserves amount is mainly due to strengthened foreign exchange regulations that resulted in dollar inflows growing last year. While speaking during the Presidential Address 2026 at the People’s Majlis – the Maldives parliament – President Muizzu said that USD 492 million was converted to the Maldives Monetary Authority (MMA) between January and December 2025. He said this contributed significantly to the growth of Maldives’ official reserves. He further added that the country’s…
Noorbaan Fahmy has been appointed to lead the Maldives Securities Depository (MSD). The official announcement was made on Wednesday. Besides this, she has also been appointed as the Chief Strategy Officer of Maldives Stock Exchange (MSE). Additionally, she will serve on the Board of both the companies. This shuffle has been effective since January this year. MSD highlights these administrative changes are crucial towards streamlining their operations, strengthening accountability, and achieving strategic goals aimed at elevating the Maldivian capital market. Noorbaan Fahmy is an experienced professional known for holding multiple senior positions within the MSD and MSE over the past…
Sujatha Haleem, the Chief Executive Officer of the Maldives Pension Administration Office (MPAO) on Tuesday announced resignation. Her resignation comes hot in the heels of recent revelation of MPAO board’s now heavily lambasted decision to proceed with a government-requested utilization of pension funds. Sujatha’s resignation follows a series of high-profile departures from the Pension Office, with both the Chairperson of the board, Ahmed Inaz and board member representing the private sector, Saruvash Adam stepped down from their MPAO board positions in protest against a proposed transaction involving the investment of pension funds into government bonds. Besides Inaz and Saruvash, MPAO’s…