Author: Mohamed Reehaan

Addu City Council and Business Center Corporation (BCC) on Sunday, signed an agreement for the development of the garment factory in the southern-most city. As part of the agreement, the city council will be leasing the land required for the garment factory. The agreement was signed by Addu City Mayor Mohamed Shuau and BCC Deputy Managing Director Samih Adam, on behalf of the respective organizations they represented. The garment factory is in line with Maldives President Dr. Mohamed Muizzu’s vision of expanding tailoring and affiliated services to an industrial scale. Moreover, the factory aims to provide a corporate environment for…

The Maldives Monetary Authority (MMA)’s Financial Intelligence Unit has become a member of the Egmont Group of Financial Intelligence Units. The Egmont Group of Financial Intelligence Units is a global organization working to enhance swift, robust, and secure network to safely and securely exchange information related to financial crimes such as money laundering and terror financing. The central bank’s Financial Intelligence Unit was inducted as a member at the 30th annual meeting of the Egmont Group, that began on June 02, 2024 in Paris, France. The MMA Financial Intelligence Unit first applied for membership in 2017. The Maldives central bank…

Nova Maldives plants 75 coconut palm trees to commemorate this year’s World Environment Day, enhancing the local ecosystems and promoting sustainable tourism. The property is excited in introducing comprehensive initiatives aligned with this year’s theme for the Environment Day #GenerationRestoration. As part of its efforts for sustainable tourism practices, Nova Maldives is contributing 75 coconut trees to Alifu Dhaalu atoll Dhangethi; a local island in the neighborhood of the property. Besides this, a marine biologist from Nova will also present at a local school, discussing reforestation and its benefits to the community and the environment. The resort’s marine biologist will…

A Trans Maldivian Airways (TMA) seaplane attempting to land at a resort in Baa atoll crash landed on Sunday, after its wing floats detached. Videos of the crash already on social media platforms, show the TMA seaplane taking in water as a result of the crash. The accident has been confirmed by Maldives National Defense Force (MNDF) as well. Despite the crash landing and significant damages to the seaplane, MNDF said they are unaware of any injuries from the incident. All passengers aboard have been brought back to Male’ City now, but MNDF refrained from providing further details.

Trade Promoters Limited celebrated five-year milestone of providing uninterrupted, revolutionizing services in the Maldives’ energy sector through its appointed dealer, Electrify Maldives. Electrify Maldives, which represents Cummins in the island nation, has been at the forefront in providing cutting-edge solutions backed by a team of more than 60 dedicated staff. Since its establishment, Electrify Maldives has shown its mettle for industry excellence, with sales office and parts warehouse strategically located in Hulhumale’ – ensuring efficient customer service. As of now, Electrify Maldives supports over 115, of the 186 Cummins-populated resorts in the Maldives, with more than 70 resorts as steadfast,…

Maldives Civil Court has ordered Go Air, a now bankrupt airline with ceased operations as of May 2023, to pay USD 3.6 million owed to Maldives Inland Revenue Authority (MIRA). Civil Court ordered Go Air to pay the amount in accordance to the Maldives’ Air Taxes and Fees Act (Act No.: 29/2016); which provides statutory instructions to levy Departure Tax, Airport Service Charge, and Airport Development Fee from from passengers. For departure tax, under the act, each foreign passenger traveling economy-class is charged with USD 30, while locals traveling through the same class are charged USD 12. Passengers traveling business…

The cumulative total of state revenues, reported as of May 30, is a MVR 706.6 million improvement in comparison with the corresponding period last year. The Ministry of Finance’s most recent ‘Weekly Fiscal Development’ indicates a cumulative total of MVR 14,856.3 million; that’s MVR 14.9 billion, earned as of May 30 this year, compared to MVR 14,149.7 million (MVR 14.1 billion) recorded for the same period last year. On the revenue categories’ front; tax earnings saw a significant bump whereas non-tax earnings are below the last year’s mark by review date. As such, tax earnings for the period January 01…

The Maldives Zakat House on Thursday, has confirmed spending over MVR 1.6 million to provide financial support to locals seeking medical treatments. According to statistics the fund spent MVR 1,632,265.00 to support patients seeking various medical treatments; including MVR 1,213,624.00 arranged for patients during the month. Statistics also confirm Zakat House provided assistance to a total of 180 individuals during May 2024. The fund provided a support of MVR 454,574.50 for cancer treatments, making it the largest disbursement through the House in May. Another MVR 89,050.50 was provided to support kidney patients – the second highest – while another MVR…

The Asian Development Bank (ADB)’s Country Programming Mission (CPM) and the Country Partnership Strategy (CPS) 2025-2029 consultation mission to the Maldives commenced earlier on Sunday this week. The CPM is an annual exercise to monitor the implementation of the country program outlined in the ongoing CPS and make midcourse adjustments. The ongoing CPS ends in 2024 and the development of the new CPS 2025-2029 is now underway with in-country consultations with stakeholders. While the consultation mission kicks off in the Maldives, it was reported that the Minister of Finance Dr. Mohamed Shafeeq had convened a crucial meeting with the representatives…

According statistics revealed by the Maldives Immigration, the most number of tourist arrivals in April this year was reported from the United Kingdom (UK). The authority confirms that arrivals from the UK, China, and Russia topped the chart in April; with arrivals from each of these markets exceeding 16,000. Top 10 Arrivals by Nationality – April 2024 UK – 16,888 China – 16,427 Russia – 16,292 Germany – 13,001 Italy – 12,945 India – 7,782 USA – 6,402 France – 6,178 Switzerland – 5,661 Australia – 3,922 Immigration confirms arrival of a total of 168,368 tourists in the month of…