Author: Mohamed Reehaan
State Electric Company (STELCO) hosted a customer service training program last week targeting its staff in Alif Dhaal atoll. The program was carried out to provide technical knowledge, support, awareness, and information to STELCO employees about customer service best practices and industry standards. The utility provider said the program was crafted to ensure its participants learned about good customer service approaches, and techniques, and to build a strong rapport with customers. Service excellence, customers’ trust, and improved customer experience are key objectives of the current STELCO management. STELCO Managing Director Ahmed Shareef envisions achieving President Ibrahim Mohamed Solih’s aspiration of…
The Ministry of Finance announced a list of companies exempt from paying income taxes. The companies, all Indian-based, are contractors of various infrastructural development projects in the Maldives. Under Article 7 of the tax exemption act and Articles 1 to 12 of the Maldives Tax Act; the Maldives President has discretionary power to give exemptions to companies from paying income tax. Moreover, the ministry said that the companies are excluded from paying taxes based on the agreement made between the Maldives government and India’s EXIM Bank for the line of credit. The bank provided the credit line with the condition…
The Maldives government has spent 90% of the compensation budget allocated from the 2023 state budget. According to the Ministry of Finance, the government has spent MVR 92.6 million as compensation already this year, while the allocated total for the year is MVR 101 million. The government has paid out MVR 1.6 billion in compensation over the last four years for previous breach of contract. Moreover, the Maldives government has exceeded its compensation budget each year for the last four years. Meanwhile, the government formed a settlement committee, which dissolved in September 2021. The committee was formed to seek compensation…
Sonee Fishing’s “KANDUFOARI” fishing race kicks off on Saturday, 18th February 2023 with a total of 106 participants from across the Maldives. A total of five sports fishing vessels embarked at 06:00hrs. The race should be completed before 18:00hrs of the same day. While individual participants are required to report to the finishing line at 18:00hrs, teams are granted an extra hour and should report back to the finish line at 19:00hrs. Each vessel will have an official onboard to monitor progress and record the catch. The officials will also monitor if the participants adhere to the regulations of the…
JOALI Maldives and JOALI Being have both earned Forbes Travel Guide Five-Star award at the 2023 Star Awards. The two properties are the latest addition to Forbes Travel Guide’s latest addition to its illustrious annual Star Rating list. Forbes Travel Guide is the only global rating system for luxury hotels, restaurants, spas, and ocean cruises. It is also the world-renowned authority on excellence in hospitality. “We are honoured to have both JOALI Maldives and JOALI BEING receive the highest Five-Star ranking by Forbes Travel Guide and be among an esteemed portfolio of destinations. A true seal of success, this prestigious…
Male’ Water and Sewerage Company (MWSC) has partnered with Hitachi Zosen Corporation and Renewable Energy Maldives to establish a renewable energy water production system. The initiative’s partner, Hitachi Zosen, is a major Japanese industrial and engineering corporation that produces power plants, industrial plants and machinery, precision machinery, and construction machinery among other products. The memorandum of understanding (MoU) signing, held on Wednesday last week, 15th February, was graced by Minister of Environment, Climate Change and Technology Aminath Shauna and the Japanese Ambassador to the Maldives Takeuchi Midori. MWSC Managing Director Hassan Shah signed on the MoU on behalf of the…
State Trading Organization (STO) has introduced new products popular home appliances manufacturer Hitachi in the Maldivian market. The new products of Hitachi were introduced on Friday evening, 17th February, in a special ceremony held for the occasion at STO People’s Choice. STO’s General Manager Ahmed Shifan and Hitachi Home Appliances’ Director of Sales Tarun Jain officially introduced the product line. The newly introduced products include Hitachi’s latest line of refrigerators, washing machines, microwave ovens, and chest freezers among several other items.
Housing Development Corporation (HDC) announced it will allocate plots from Hulhumale’ for scrap dealers. HDC said that its decision to designate specific areas from Hulhumale’ scrap dealers was made after observing a surge in such businesses. Scrap dealer businesses started to surge after a rise in discarded iron and articles of iron. Discarded iron and similar articles began increasing in quantity owing to the increment in infrastructural development projects in the Maldives. Following the conclusion of any such project, contractors often discard large quantities of damaged iron and other articles that are no longer applicable to their original purpose. Most…
State Trading Organization (STO) has launched a daycare assistance program to ease its employees. The STO Little Wonders program was launched to facilitate a balance for STO employees between their professional and social life, and endorse healthy living. The program was initiated by STO’s top management and was launched on Wednesday, 15th February, by its Managing Director Husen Amr and the General Manager of Peoples Operations Mariyam Nuzula. STO’s Little Wonders program applies to all of the organization’s staff. Under the program, STO will provide an allowance of MVR 2,500 to all of its employees to enroll their children below…
State revenues inclusive of foreign grants reached MVR4.25 billion as of February 09, 2023. According to the Ministry of Finance, the state expenditure by the review date reached MVR4.09 billion. Owing to higher earnings compared to expenditure, the overall balance for the period is a surplus of MVR148.5 million. As of the review date, the state has spent 76% of the budget on recurrent needs and the remaining 24% on capital expenditure. Meanwhile, the government earned 86% of its revenues from tax sources and the remaining 14% came from non-tax sources. Revenues and Grants Tax Revenues: MVR3.67 billion Non-tax Revenues:…