Author: Mohamed Reehaan

The Chief Executive Officer (CEO) of Maldives Ports Limited (MPL) Mohamed Wajeeh Ibrahim appreciates the staff of Hulhumale’ International Terminal. Wajeeh attended a function hosted by the Hulhumale’ International Terminal on Sunday evening, January 7, 2024. At the ceremony, the MPL CEO expressed his sincere appreciation and commended the work of the terminal’s staff.

According to the quarterly review from the Privatization and Corporatization Board (PCB), several key state-owned enterprises (SOEs) faced revenue drops. As per PCB in its quarterly review, self-sufficient SOEs observed a collective total revenue of MVR 913 million. This segment is composed of companies like Housing Development Corporation (HDC), Road Development Corporation (RDC), and Maldives Transport and Contracting Company (MTCC). Though MTCC posted positive revenue growth for the quarter, HDC and RDC however, showed lower revenue growth. Moreover, revenues dropped in the transport, construction, and real estate sectors in the Maldives; with a 24% drop in revenue from MVR 1.4…

Regional Airports Company Limited (RACL) is seeking a contractor interested in expanding the passenger terminal of Kulhudhuffushi Airport. RACL put the announcement on the state gazette earlier on January 3, 2024. In its announcement, RACL sought interested contractors or construction companies to submit Expression of Interest (EOI), and opened the opportunity. RACL in the announcement said the redevelopment and expansion of the terminal should follow according to their concept drawing. Project components include the development of a new passenger terminal spanning 11,345 square-feet along with the installation of shading for passengers, structural changes to existing terminal, and installation of other…

A memorandum of understanding (MoU) was signed between the Housing Development Corporation (HDC), Male’ City Council, and the Ministry of Finance towards transferring all municipal services. Under the agreement, all municipal services previously catered by HDC have been transferred under the mandate of Male’ City Council. Minister of Finance Dr. Mohamed Shafeeq signed the MoU on behalf of the ministry while the Managing Director of HDC Ibrahim Fazul Rasheed signed on behalf of the corporation. Deputy Mayor and Acting Mayor Ahmed Nareesh signed on behalf of the City Council. As per the agreement, all municipal services catered by HDC provided…

Regional Airports Company Limited (RACL) on Sunday, January 7, has announced the appointment of its new board member. RACL appointed as a non-executive director Jameel Mohamed into the corporation’s board of directors. Prior to her appointment to RACL’s board, Jameel was the Food Quality Assurance Officer at the Maldives Food and Drug Authority (MFDA). She has also served in the health sector for an extended period.

You & Me Maldives under the Cocoon Collection has landed the prestigious Gold Circle Award 2023 by Agoda. The Gold Circle Awards is now celebrating its 10th year since inception. The brand recognizes and effectively awards exceptional hotel performance. The brand confers its awards by gauging customer reviews, services, excellence in pricing and affordability. Earlier, You & Me Maldives received the “Most Romantic Resort” title at the South Asian Travel Awards in 2023.

Minister of Health Dr. Abdulla Khaleel has promised, on behalf of his government, to put stronger efforts towards the development of Vilimale’. The minister said this at the ceremony held to launch sea ambulance services between Male’ City and Vilimale’. Besides service introduction, Minister Khaleel promised further improvements would be made to the service based on feedback and assessment. “We are currently in the design phase of the 100-bed tertiary hospital, and without much delay, the people of Vilimale’ would see these promises being realized,” the minister said. The minister also pledged to continue efforts in health sector development in…

The Maldives Islamic Bank (MIB) has launched an Instant Visa Debit Card allowing customers with the ease of immediate activation by linking it to customer accounts. MIB said that the card was introduced towards ease of service to customers. The newly introduced Instant Visa card offers easy linking to customer accounts through an online account opening service. Customers can easily activate the card by scanning the provided QR code. The card has been made available from MIB branches and sales centers.

The Maldives Association of Yacht Agents (MAYA) has said that the new regulations have provided temporary solution to bring cruise lines and yachts to the Maldives. The association expressed concern about the imposition of GST on individual rooms of cruise lines under the regulations government the movement and berthing of tourist vessels arriving from abroad. The regulation was put in place by the former government. Due to this new regulation, cruise liners began to opt for other, cheaper destinations instead of the Maldives. Following Minister of Tourism Ibrahim Faisal’s commitment in finding a proper solution, the ministry issued regulations mandating…

The Ministry of Finance said that the cessation of state budget would not impact cashflow of the government, if it has regular access to loan facilities and generate projected revenue as per the state budget for 2024. The current administration led by President Dr. Mohamed Muizzu has terminated the process of printing money, or otherwise known as the overdraft from public bank accounts. The practice commenced earlier in Covid-19 pandemic to adjust for depleting state cashflow and its management amid the crisis. Government’s overdraft for the past three years have reached MVR 8.2 billion, with majority of this directed towards…