Author: Mohamed Reehaan

Tourist arrivals to the Maldives exceed 350,000 as of 28th February 2023, according to the Ministry of Tourism. The ministry confirmed that the tourist arrivals reached 350,413 by the review date which is a 24.8% increment compared to the same period in 2022 during which arrivals stood at 280,776. Moreover, the tourist arrivals exclusively for February stood at 177,914; which is a 19.4% increase when compared with the same month last year, during which arrivals stood at 149,011. Top 10 Markets of 2023 (as of 28th Feb) Russia: 44,748 India: 38,109 UK: 32,566 Italy: 32,395 Germany: 22,995 France: 16,483 USA:…

State Trading Organization (STO) has prepared to ensure continued service to consumers ahead of Ramadan. The largest state-owned enterprise (SOE), also the major importer and distributor of staple foods and high-demand perishables such as potatoes, onions, and eggs confirmed its shipment has already arrived before March 2023. Apart from ensuring continued supply of potato, onion and eggs to consumers, STO has also significantly dropped the retail prices on them as well. STO will be selling a kilo of potato for MVR11 and a bag for MVR250, a kilo of onion for MVR9 and a bag for MVR180. Moreover, eggs individually…

State Electric Company (STELCO) has increased the power output capacity in AA. Maalhos. The utility provider increased its powerhouse output capacity from 679 kilo-Watts to 816 kilo-Watts. To achieve this STELCO installed a brand new 300 kilo-Watts generator at the powerhouse. STELCO currently provides utility services in Greater Male’ Region as well as several other atolls across the country. The utility provider is currently working on increasing the power output capacity across all of its powerhouse units; an initiative launched to ensure catering utility services fairly to all its customers.

Dhiraagu has announced that customers can now enjoy additional data with upgraded Postpaid Plans. The new upgrades allow customers to receive more data for all the needs including, browsing, streaming, and social media use. The upgraded plans include; Postpaid 550: Customers will receive a total of 20GB data, free SMS, free calls to all Dhiraagu numbers, and 1200 free voice minutes to other local carriers. The plan previously offered 10GB total data, including 5GB social media data with 300 free voice minutes Postpaid 750: Customers will receive a total of 30GB of data, free SMS, free calls to all Dhiraagu…

The Housing Development Corporation (HDC) announced that visitors will no longer be required to make advance bookings to visit the Kudagiri Picnic Island. Now, interested parties may visit the island at any time during the scheduled ferry departure hours without booking; based on a first-come-first serve basis. Despite HDC scrapping the pre-booking option to enter the island, bookings need to be made in advance for hut or room usage. Additionally, the visitors will no longer be charged for travel to the islands on weekends and public holidays. Locals will still need to pay a fee of USD 1.6 per person…

The Bank of Maldives (BML) has decided to cease its envelope depositing services effectively from Wednesday, 01st March 2023. According to the bank, envelopes containing cash or cheques will not be accepted from the scheduled date. The bank also noted that this move was to further promote digital finance among customers. Envelope depositing allowed customers to deposit bills that were not accepted by the machine due to poor quality. It also allowed customers to deposit lower denomination bills; such as MVR 5 or MVR 10. Generally it takes 24 hours, excluding public holidays, for the deposits to be reflected on…

Tourist arrivals to the Maldives exceeded 300,000 in just one and a half months of 2023; according to the Ministry of Tourism. The ministry said that the total tourist arrivals reached 308,367 as of 21st February 2023. This is also a 27.6% increase compared to the same period in 2022, during which arrivals stood at 241,750. Tourist arrivals for the same period in 2021 stood at 164,395. On the other hand, tourist arrivals from 01st to 21st February had reached 135,868; a 23.5% increment compared to the same period in 2022, during which arrivals stood at 109,985. Top 10 Markets…

The Regional Airports Company Limited (RACL) announced that it will increase ground handling fees at 6 domestic airports it manages. Domestic airports currently managed by RACL are; Hoarafushi Airport | HA. Atoll Hanimaadhoo Airport | HDh. Atoll Kulhudhuffushi Airport | HDh. Atoll Funadhoo Airport | Sh. Atoll Maavarulu Airport | GDh. Atoll Fuvahmulah Airport | Gn. Atoll RACL charges a ground handling fee from inbound flights for services including cargo and ramp services, rendered between the flight landing and takeoff. Moreover, RACL’s Managing Director Mohamed Rizvy said that the company decided to change the fees since the current fees were…

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…