Author: Mohamed Reehaan
Business Center Corporation (BCC) managed Authentic Maldives brand’s newest outlet opens in Alifu Alifu atoll Thoddoo on Saturday evening. The outlet was opened by Moosa Hassan, owner of ‘Moosa Arts’ – the first goods supplier to Thoddoo. BCC’s Managing Director Ibrahim Ziyau became the first customer of the Authentic Maldives outlet, following its inauguration. Ziyau had purchased a local supplier’s creation and gifted it to Thoddoo council’s president. With Authentic Maldives, BCC aims to promote and market the products made or created by Maldivian craftspeople and artisans, both locally and globally. Ziyau said BCC remains committed in finding further local…
State Trading Organization (STO) has scratched plans for the development of a flour factory in the Maldives. STO Managing Director Shimad Ibrahim made the announcement while speaking at the company’s Annual General Meeting for 2023 held on Friday evening. He made the announcement in response to a shareholder query. Shimad said that the company’s board made the decision following discussions on the matter, and that the board had found it was an unfeasible project. “When we cross check the recent feasibility study with the previous one, we observed it was not feasible, which is why the board decided not to…
The Maldives pledged a contribution of more than USD 1.29 million to Palestine, through the United Nations Relief Works Agency for Palestinian Refugees in the Near East (UNRWA) at the UNRWA Pledging Conference, held today at the UN Headquarters. Maldives announced this pledge in a statement delivered by the Permanent Representative of the Maldives to the United Nations Dr. Ali Naseer Mohamed. In his statement, Ambassador Mohamed stated that the Maldives government has increased its annual contribution to UNRWA ten-fold, from USD5,000 to USD50,000. The Ambassador noted that under the guidance of President Dr. Mohamed Muizzu, a telethon was organized…
State Electric Company Limited (STELCO) has successfully installed solar panels on Alifu Alifu atoll Thoddoo’s powerhouse. The solar panel installation is in line with STELCO’s commitment to honor the government’s objective to reduce fuel dependency across the country, and expand renewable energy infrastructure. STELCO in a post on X, confirmed the solar panels at Thoddoo powerhouse are now commissioned and operational. STELCO added that it remains committed in driving the country’s energy sector towards more environmentally conscious and safer alternatives, while aiming to reach the net zero vision of the government. Earlier, Maldives government had announced a countrywide effort of…
Delegations from the governments of the Maldives and the United States met on Wednesday in Washington DC for the 3rd meeting of the United States-Maldives Trade and Investment Framework Agreement (TIFA) Council. The meeting was co-chaired by Minister of Economic Development and Trade Mohamed Saeed and Assistant United States Trade Representative (AUSTR) for South and Central Asia Brendan Lynch. Minister Saeed and Lynch shared their ambition to deepen economic relations and noted the role of bilateral engagement in diversifying trade and investment ties for inclusive, sustainable growth. Maldives presented the economic vision of President Dr. Mohamed Muizzu’s administration and sought…
State Trading Organization (STO) on Friday evening, July 12, held the state-owned enterprise’s Annual General Meeting of 2023. At the AGM, shareholders approved a record high dividend of MVR 80 per share, making it the highest payout in the past 17 years. The AGM was attended by STO Board’s Chairman Amir Mansoor, Managing Director Shimad Ibrahim along with other senior officials of the company and shareholders. A total of 189 participants, representing 120 shareholders in person and 69 shareholders as proxy participated in the AGM. While highlighting the performances of STO, Shimad noted on the company’s achievements and strategic goals.…
Maldives Inland Revenue Authority (MIRA) reports a total revenue of MVR 2.05 billion for the government in June 2024, up 26.8% compared to the same month last year. According to MIRA, this increase is owed mainly to the increase in Corporate Income Tax, GST and Tourism Land Rent. Besides this the Income Tax Filing and Payment deadline was extended during June 2023 whereas no such extensions were made during June this year. Despite observing a moderate increment in terms of year-on-year numbers, the total revenue collection still saw a 28.8% below project level. This was due to the decrement in…
Tree Top Hospital on Thursday announced its partnership with Maldives Half Marathon, organized by iRunners; a local running club. Tree Top has signed on as the official medical partner of the 3rd edition of the marathon. This partnership agreement, Tree Top adds, exceed beyond race-day support and shows commitment to promoting healthy living within the Maldivian communities. The tertiary medical institution offered free basic health checks for runners taking part in the half marathon during the expo day on Wednesady. On the event day, Tree Top will provide comprehensive medical assistance ensuring safety and well-being of the runners. The team…
Maldives Airports Company Limited (MACL) Managing Director Ibrahim Shareef Mohamed has announced plans to introduce an illuminated water runway. Shareef made the revelation while speaking at the panel discussion of the now ongoing Air Service World Congress (ASWC) 2024 at Kurumba Maldives. While responding to a query from the panel’s moderator, Shareef noted that Maldives boasts of the largest seaplane fleet and operation. He also said that currently, seaplanes observe 60 movements per hour – and at times maxing at 70 movements per hour. He added MACL’s plans to expand this to 84 movements per hour this year. “For this…
The St. Regis Maldives Vommuli Resort has announced the exclusive fitness and wellness event, “Revitalize & Rise: Fitness Fusion Experience”, featuring world champion Rico Verhoeven on July 14 at the picturesque Alba Beach. Guests are invited to embark on a transformative fitness journey led by the renowned kickboxing heavyweight world champion, known for his expertise in kickboxing and dedication to fitness. Rico will share invaluable insights and techniques to enhance physical well-being, while participants can enjoy personalized group coaching sessions with him. “This event is a once-in-a-lifetime opportunity for fitness and wellness enthusiasts to engage directly with Rico Verhoeven, learning…