Author: Mohamed Reehaan
The financial situation of Maldivian businesses worsened in all sectors in 2024 second quarter, reports Maldives Monetary Authority (MMA). The central bank adds that businesses in all the surveyed sectors, except for wholesale and retail trade sector, anticipate the financial situation to improve in the third quarter. As for businesses in wholesale and retail sector, the financial situation appears to be heading into worsening conditions in Q3-2024. MMA also reports that employment levels dropped steeply for businesses in the tourism sector and construction sector, with the former registering the biggest decline in the second quarter of this year. Businesses in…
State Trading Organization (STO) Medical Services has introduced SD Biosensor Lab Equipment to the Maldives. The launch event, held at Lonuziyaaraiy Park in Male’ City, was inaugurated by the Minister of State for Health Aminath Shirna. This new introduction to the Maldivian market marks a revolutionary achievement in rapid and point-of-care testing at hospitals and clinics across the country. Nearly all the kits used in this new line of equipment have received World Health Organization (WHO) prequalification, ensuring they meet the highest standards of diagnostic accuracy and reliability. Representatives of the Ministry of Health, the Health Protection Agency (HPA), and…
Maldives Marketing and Public Relations Corporation (MMPRC) has signed a memorandum of understanding (MOU) with the Maldives Association of Tourism Industry (MATI) towards strengthening collaboration and amplifying destination marketing efforts. Speaking about this new strategic partnership, MMPRC CEO and Managing Director Ibrahim Shiuree acknowledged MATI’s extensive industry knowledge, and said the association’s experience will be an “indispensable asset” to strengthen the Maldives tourism board’s destination marketing efforts. Shiuree also said MATI’s insights will also support MMPRC with its work towards achieving its strategic objectives. Ahmed Nazeer, the Secretary General of MATI, also spoke similarly and said, “We have always maintained…
India, under its ‘neighborhood first’ policy, will be allocating the highest aid to Bhutan in its external aid portfolio in the Union Budget for 2024-25. In contrast, the outlay to Maldives observes a sharp decline from INR 7 billion (USD 84 million) to INR 4 million (USD 48 million). For Bhutan, India has allocated INR 21 billion (USD 347 million) in development aid. The reason for this cut, according to a few Indian media outlets, is due to the weakened ties between India and the Maldives, especially after Dr. Mohamed Muizzu, rumored to have pro-China leanings, became Maldives President in…
Bank of Maldives (BML) on Wednesday, assured its staff were not involved in cases where money from customer bank accounts have ‘vanished’. Parliament’s State-Owned Enterprises (SOE) Committee on Wednesday summoned officials from BML, Maldives Monetary Authority (MMA), and Maldives Correctional Services to question them about the implementation progress of recommendations set forth by the committee in a 2023 report regarding the issue. At the committee meeting, BML’s Director of Retail and SME Banking Moosa Nimal said there had been no indication of the bank employees’ involvement according to the investigation from relevant authorities. Nimal also said that 1,400 scam cases…
Maldives government held talks with the United States Ambassador Hugo Yue-Ho Yon in line with the recently concluded TIFA talks. Minister of Economic Development and Trade Mohamed Saeed met with Ambassador Yon, and held their focused on the areas discussed at the third meeting of the US-Maldives Trade and Investment Framework Agreement (TIFA) Council. Saeed confirmed that the discussions focused primarily on facilitating wider access to e-commerce platforms for Maldivian entrepreneurs as envisioned by President Dr. Mohamed Muizzu. At the earlier TIFA talks, Minister Saeed met with the Assistant US Trade Representative (AUSTR) Brendan Lynch. Saeed, on behalf of the…
Housing Development Corporation (HDC) has announced it is seeking developers for the operation of food trucks in Hulhumale’. The corporation has invited all interested parties to submit Expression of Interest (EoI) forms, which HDC said will provide equal opportunities for the proponents. HDC said the preferred business model for the operation is a fixed fee model, but added that proponents had the right to submit a business model of their choice, but the benefits of the selected model to both parties must be illustrated properly. In the case, where the project attracts more than one proposal, HDC will select the…
The Middle East and North Africa’s largest low-cost carrier, Air Arabia, will be launching direct flights to Male’ effective from October 27, 2024. The low-fare airline will operate direct flights between Velana International Airport (VIA), Male’ and Sharjah International Airport, UAE. Air Arabia said the new Maldives-Sharjah route will provide travelers with “even more convenient and affordable options” allowing travelers to explore the four-time World’s Leading Destination winner in the Indian Ocean. The Air Arabia Group CEO, Adel Al Ali said, “The launch of our non-stop flights to the Maldives highlights our commitment to offering our customers more travel options…
Maldives President Dr. Mohamed Muizzu on Monday, has appointed Fathimath Dhiyana as the first-ever female Commissioner General of Customs. Her predecessor, Yoosuf Maniu Mohamed, who is the first Customs CG of this administration, has been reassigned as the State Minister of Homeland Security and Technology. President Muizzu has appointed Dhiyana under the presidential discretion granted by Article 6(b) of the Maldives Customs Act. She has been appointed at a State Minister level. Prior to her current engagement, she had been the Deputy Commissioner of Customs.
Minister of Foreign Affairs Moosa Zameer has met with China’s Member of Political Bureau of the CPC Central Committee, Director of the Office of the Central Commission for Foreign Affairs, and Minister of Foreign Affairs Wang Yi for extensive bilateral discussion in Beijing, on Monday. The two held official talks on bilateral cooperation between the Maldives and China; with a focus on seeking the Asian economic powerhouse’s assistance with Maldives’ planned fiscal reforms. Minister Wang welcomed Zameer to China, and reaffirmed Beijing’s commitment to further strengthen the historic and friendly relationship between the two nations. Minister Zameer, in similar fashion,…