Author: Mohamed Reehaan
The Maldives government has spent MVR494.4 million in loan repayment as of 16th February 2023, according to the Ministry of Finance. The state will reportedly spend a total of MVR2.1 billion this year to repay outstanding loans. Moreover, the ministry confirmed that almost 8% of this year’s state budget will be used to repay state loans, which amounts to MVR 5.5 billion. The Maldives government is expected to spend a total of MVR30 billion over the next four years, including 2023. The highest loan repayment to date, which is MVR9 billion, will be made in 2026. Though the government is…
State Trading Organization (STO) and Maldives Industrial Fisheries Company (MIFCO); a sister company of STO, has participated in the Gulf Food Expo to showcase their products. The expo was held at Dubai’s World Trade Center from 20th to 24th February. The Gulf Food Expo is considered among one of the biggest showcasing of food and beverage products in the world. The expo attracts several international food and beverage suppliers, distributors, manufacturers, and other key stakeholders of the industry seeking opportunities to enhance their business portfolio, network, and connect with prospective partners. This year’s expo attracted over 5,000 exhibitors from 125…
The Maldives is no stranger to world-renowned tourist resorts, guesthouses, and other notable tourist properties. With an over 50-year hospitality industry that took off in the 70s, the island nation is currently home to over 160 high-end resorts. The country’s hospitality industry is so significant and recognized in the world, that the country has already grabbed WTA’s “World’s Leading Destination” accolade three years in a row. Meanwhile, some of the most notable hospitality brands currently operating in the Maldives include Four Seasons, Hilton, Marriott International, and Atmosphere Hotels and Resorts among several others notable brands. Each year, the island nation…
CROSSROADS Maldives has been awarded the internationally renowned Green Globe Certification (GGC) following a recent sustainability audit. CROSSROADS Maldives is the Indian Ocean’s first and only multi-island, integrated leisure destination featuring three award-winning resorts. The resorts include Hard Rock Hotel Maldives, SAii Lagoon Maldives, Curio Collection by Hilton, and SO/ Maldives set to open in late 2023. The multi-island, integrated tourism destination also features The Marina @ CROSSROADS; a luxury yacht marina, lifestyle area, and culinary experiences. The multi-island destination was developed by S Hotels & Resorts Public Company Limited, the hospitality arm of Singha Estate Public Company Limited, Thailand’s…
A team of journalists from India is currently visiting the Maldives on an invitation from the Maldives Marketing and Public Relations Corporation (MMPRC). The team is in the Maldives as part of MMPRC’s continued series of familiarization trips to provide first-hand experience of the country’s hospitality industry. During the trip, the reporters will “immerse themselves in the tourism offers, unique experiences, and exciting encounters awaiting tourists in the Sunny Side of Life”; according to MMPRC. Reporters on the trip represent key Indian media publications such as Indulge Express (NIE), The Sunday Guardian, ET Travel World, and Dainik Jagran. Additionally, the…
The Standard, Huruvalhi Maldives partners with Middle East-based wellness center, SEVA Experience, to bring its yoga, meditation, and holistic program to the Maldives from 07th to 11th March 2023. SEVA is one of the leading yoga, meditation, and holistic wellness centers in the Middle East. It was founded to encourage deep reflection and acknowledge life’s journey through a range of multifaceted practices. The Standard, Huruvalhi Maldives located in Raa atoll, with its white sand beaches and crystal-clear lagoon offers the perfect backdrop to facilitate a wellness journey, and immerse into self-rediscovery. The new program, hosted by SEVA founder Eda, SEVA…
Marriott International Maldives and the Maldives Institute of Technology (MIT) have collaborated to launch the Maldives’ first Laundry Certification Program. The program was launched with the approval of the Maldives National Skills Development Authority (MNSDA). The program was initiated to train and upskill local talent in hospitality laundry operations. Moreover, the program aimed to maintain the highest hygiene standards with a priority on guest safety and brand standards. The program is also extended to local talents pursuing career opportunities in hospitality laundry operations from the islands of K. Maafushi and K. Gulhi. The course enrolled 21 local associates from Marriott…
State Trading Organization (STO) has confirmed that it is currently working to open an outlet in Hulhumale’ Phase II ahead of the Islamic sacred month of Ramadan. Ramadan is the ninth month in the Islamic calendar and is observed by Muslims all across the globe as the month of fasting. It is also the month when consumer activities observe a noticeable surge; especially with perishable goods and staple foods. STO said that it has been receiving complaints from residents of Hulhumale’ over the lack of its outlet on the island. STO’s Hulhumale’ outlet in Phase I was closed down earlier…
State Electric Company (STELCO) has launched water supply services in Alif Dhaal atoll Hangnaameedhoo. The service was launched on Monday, 20th February, by the Deputy Managing Director of STELCO Mohamed Latheef, and the island council’s President Moosa Nazim. STELCO added that the service was now provided to a total of 170 ‘connections’ or residences; private and businesses included. The utility provider also claimed that customers who have already lodged official requests and customers who make requests before the end of February will receive one ton of water free of charge. The utility provider will be charging the residences for the…
Hithadhoo Port Limited (HPL) lost MVR85 million by 2020, a recent audit report has revealed. According to the financial audit report of HPL, the company has suffered losses consecutively for the past 11 years since inception. The report also noted that on average, the company suffered a loss of MVR6 million each year. Despite the continued losses, the audit report said that the company had not made necessary assessments to reevaluate its expenditure and finances. This has created a difficulty in assessing the company’s current and prospective financial position. HPL is operated by Maldives Ports Limited (MPL); which acts as…