Author: Mohamed Reehaan
The latest updates from Ministry of Finance on Weekly Fiscal Developments indicate cumulative total of state expenditure at MVR16,086.4 million (MVR16.1 billion) as of 12th August 2021. Moreover, the statistical publication also indicate that the cumulative total of state revenues inclusive of grants reached MVR10,781.1 million (MVR10.1 billion) by the review period – which shows no remarkable improvement from the week before. As for the expenditure composition, 77% of the total has been spent on recurrent needs and the remaining 23% on capital expenses. On the other hand, 73% of the revenue came from tax sources while the remaining 27%…
The staff of Bank of Maldives (BML) have organized several community activities spanning across 6 different islands to commemorate World Humanitarian Day. Moreover, BML reports these activities have been carried out at; Shaviyani atoll Funadhoo Noonu atoll Manadhoo Faafu atoll Nilandhoo Thaa atoll Guraidhoo Gaaf Dhaal Thinadhoo Addu City As per the statement released by the national bank, the activities carried out by the staff included; Public hut area renovation, upgrading the new seating areas along with lighting and furnishing at Shaviyani atoll Funadhoo Upgrading the eastern beach side with 25 “joali” seating and swings for kids at Noonu atoll…
Members of prominent media outlets of Turkey visited Maldives as part of the tourism familiarization campaign by Visit Maldives to maintain the island nation’s popularity in the Turkish market. Moreover, the media correspondents had visited on Friday, 20th August 2021 which included travel writers, journalists and art directors. Furthermore, the media team is set to explore the recreational and well facilities of premium tourist slips such as Joali Maldives, Mirihi Island Resort and Finolhu Maldives. As per local reports, the media team includes popular correspondence outlets such as Oksijen, Seturday, Baha Akinci, Sabah, Daily Sabah InStyle.com.tr and Marie Claire. They…
Saturday, 21st August – MTCC Chief Executive Mr. Adam Azim has inspected the progress of Thaa atoll Gaadhiffushi water supply and sewerage project. Moreover, the front-man of Maldives Transport and Contracting Company (MTCC) met with the members of Gaadhiffushi Island Council to discuss on the progress and development of the project. According to the contractor company, the work scope involves construction of an administrative building as part of the project along with establishing an RO plant building required for the water-supply network. In addition to this, the contractor will install a gravity sewer network along with a water network with…
Saturday, 21st August – Environment Protection Agency (EPA) had stepped in to intervene the development of Veligandu Island Resort over environmental concerns and protests from neighboring Rasdhoo. As per the residents of Rasdhoo, the reclamation of Alif Alif atoll Mathiveri which lies close to the resident island, for the development of Veligandu Island Resort is conducted illegally. The resort island is developed by one of the major hotelier company’s in Maldives, Crown and Champa Resorts. Meanwhile, due to mounting pressure over the environmental complains and the alleged illegality of the reclamation issue, EPA had stepped into order a halt on…
Saturday, 21st August – MTCC CEO has visited the site of Laamu atoll Maabaidhoo harbor development project for inspection. Moreover, the MTCC front-man had met with the members of Maabaidhoo Island Council to discuss on the progress and developments of the project. As per MTCC, the contractor had successfully concluded the work on constructing the new harbor’s channel on 18th August 2021, of the previous week. Under the current harbor development project, dredging operations continued for 17,503 cubic meters to create the new harbor channel while the existing harbor’s channel has since been closed. Further components of the project include…
Saturday, 21st August – Maldives Transport and Contracting Company (MTCC) confirms on the successful completion of Laamu atoll Isdhoo harbor development project. Moreover, the contractor confirms on full project completion dated 17th August 2021, Tuesday of the previous week. Meanwhile, the Chief Executive of MTCC Mr. Adam Azim had met with council members of both Laamu atoll Isdhoo and Kalaidhoo while he had visited the harbor site for an inspection. The project scope involved dredging and excavation operations which spanned for 17,503.96 cubic meters in volume along with the construction of a breakwater and revetment that measure 253 meters and…
Wednesday, 18th August – Maldives Transport and Contracting Company (MTCC) confirmed on commencing the installation of precast concrete blocks for the quay wall construction at Addu City Hithadhoo. Moreover, the contractor reports the quay wall construction is executed at the island’s old harbor site. Project scope involves dredging and excavation operations that will reportedly span 234,297 cubic meters while additional components include construction of infrastructure. As such, MTCC will be constructing a breakwater measuring 800 meters along with a paved area spanning 1,420 square meters and the quay wall which is currently being developed, and will measure 284 meters upon…
Budget airliner from India, IndiGo has officially commenced its new flight operation concentrated on Addu City. Earlier this week, the budget airliner’s maiden flight to Addu City made its landing from Cochin, India officially launching their operations outside of Velana International Airport (VIA). Moreover, it was reported that the first of the series flight from India had carried a total of 177 passengers into the southern most atoll of the country. Furthermore, in partnership with ACE Travels the airliner is expected to commence additional direct flights between Cochin and Gan on 20th, 24th and 30th August with each of these…
The cumulative total of state revenue as of 05th August 2021 reached MVR15,827.5 million (MVR15.8 billion), as per the latest updates from Ministry of Finance. Moreover, the state body reported in their Weekly Fiscal Development that the revenue inclusive of grants have shown improvement which now stood at a cumulative total of MVR10,597.0 million (MVR10.6 billion). As for the expenditure composition, 77% of the total had been towards recurrent expenses while the remaining had been towards capital expenses. On the other hand, the revenue composition shows 74% of the total had come through tax-sources, which always remain as the major…