Author: Mohamed Reehaan
The Minister of Finance Ibrahim Ameer has said that the Maldives government is monitoring the compliance of all state-owned enterprises (SOEs). The minister in a written response to a question from parliament member Ibrahim Rasheed said the state is monitoring if all SOEs were compliant with the Corporate Governance Code. Minister Ameer further explained that the government implements the policies through a “Comply or Explain” approach and regularly monitors the compliance level of SOEs. He said that the Ministry of Finance publishes an annual report detailing reviews of the SOEs and their adherence to the policies. Currently, there are a…
The Maldives Transport and Contracting Company (MTCC) received the prestigious ‘Rehendhi Award’ for promoting gender mainstreaming and women empowerment in the institutional category. The Chief Executive Officer of MTCC Adam Azim received the award at the hands of Maldives President Ibrahim Mohamed Solih at the official hosted by the Ministry of Gender, Family, and Social Services on Monday evening. The award serves as a milestone for the company’s journey towards gender equality and women’s empowerment, while the company has “miles to travel” in terms of gender mainstreaming and women’s empowerment, said MTCC. MTCC further affirmed that such a recognition motivates…
The Maldives government amended the bidding policy for the construction project of 50 housing units in Dhaalu atoll Kudahuvadhoo. The Ministry of National Planning, Housing, and Infrastructure first made the announcement earlier on 09th January 2023. However, the recent announcement comes with revisions which state the bidding will follow; Construction Contractors Regulation of the Ministry of National Planning, Housing, and Infrastructure The policy on the quota of awarding construction projects under the national tender of the Ministry of Finance Foreign Direct Investment (FDI) policy of the Ministry of Economic Development The eligible bidder for the project will be selected through…
Allied Insurance’s Islamic window, Ayady Takaful introduces a new service called “Crop Takaful”. The service was officially launched at a press conference held at Allied Insurance’s headquarters. The company’s General Manager Ibrahim Firshan and Ayady Takaful Manager Fathimath Nizma gave information about its latest product. Crop Takaful is designed to protect farmers by helping them overcome financial or income constraints. This is an online instant service and does not require documentation to register. The Takaful facility provides compensation coverage for damage to crop fields caused by natural disasters. Farmers who experience losses during the Takaful plan period can submit photographs…
Minor Hotel confirms its newest resort, Avani+ Fares Maldives Resort is scheduled to open on 01st April 2023. The tourist resort will feature 176 rooms, and mark the company’s sixth resort in the South Asian region. Avani+ Fares Maldives is located 35 minutes from Velana International Airport (VIA) and will reportedly provide “a wide range of lodging choices, from private pool villas on the beach” to pavilions with three or more bedrooms. A variety of bars and restaurants, a water sports center, an AvaniKids and Teenagers Club, an AvaniFit gym, and a cutting-edge AvaniSpa will complement the guests’ experiences during…
State Electric Company (STELCO) recently concluded its “Leadership Management and Capacity Building” training. The training program was focused on the senior-most officers of the company’s powerhouse units in various atolls. The convocation ceremony was held last Sunday, 19th March with participants receiving a certificate of completion. Participants received the certificates from the company’s chairman of the board of directors Retired Brigadier General Ibrahim Mohamed Didi, board members Ahmed Latheef, and Retired Major Tholhath Hassan. A total of 31 members participated in the training program. Speaking at the convocation ceremony held at AA. Ukulhas Convention Center, STELCO’s Human Resources and Training…
Dhiraagu, the country’s leading telecom and internet service provider announced a dividend of MVR7.33 per share for the year 2022. The company confirmed its decision at its 34th Annual General Meeting held on Monday, 20th March. Dhiraagu passed a special resolution declaring its dividend for the previous fiscal year which amounts to MVR557,080,000. The full-year dividend is made up of the interim dividend of MVR1.66 per share, which is a total of MVR126,160,000 paid in 2022, and a final dividend of MVR5.67 per share, which is a total of MVR430,920,000 declared on Monday’s AGM. Dhiraagu also re-appointed KPMG as its…
The Housing Development Corporation (HDC) is seeking bidders to submit Expression of Interest (EOI) for the lease and operation of vertical/mechanical parking venues in Hulhumale’. HDC on Sunday, 19th March, announced it was seeking potential and competent parties to operate six of its vertical parking mechanisms in various locations of Hulhumale’. The Vertical Parking Venues Nirkolhu Parking 1: East side Rowhouse “Mashi” – 36 slots Nirolhu Parking 2: East side of Flat 02 – 26 slots Kaneeru Parking: West side of Rowhouse “Sandura” – 26 slots Boagan Villa Parking 1A: West side of Ghaazee School – 26 slots Boagan Villa…
Emerald Faarufushi Resort & Spa has recently been nominated for two categories at the 30th Annual World Travel Awards 2023. The property has been recognized for its exceptional guest experiences and unparalleled luxury. The resort has been nominated in the Indian Ocean’s Leading New Resort and Maldives’ Leading Luxury Villa Resort categories. These nominations highlight the resort’s commitment to excellence and providing the best possible guest experiences, and its dedication to luxury, comfort, and exceptional services has earned it a spot among the best resorts in the Maldives. The winners of the World Travel Awards will be announced at the…
State Trading Organization (STO) imported 2 tons of lemon from India amid demands. STO said it imported lemon in bulk quantities to allow affordability for consumers. Meanwhile, STO adds that it received several complaints from individual consumers and businesses about the spiked prices. At the time of STO’s bulk imports of lemon, the commodity was selling above MVR100 per kilogram. With the imports, the current market price has been dropped between MVR80 and MVR95 per kilogram. STO is selling lemons at MVR60 per kilogram, and hopes this will encourage other importers and vendors to slice their prices on the commodity.