Author: Mohamed Reehaan
State Trading Organization (STO) has officially opened its new People’s Choice outlet in Hulhumale’. The opening ceremony was held on Tuesday evening, February 17, at the newly established premises in Hulhumale’. The event was graced by the Minister of Economic Development and Trade, Mohamed Saeed as the chief guest. With the rapid growth of the population in Hulhumale’, the lack of a direct STO presence had been a frequent concern for residents. The establishment of this new outlet aims to address these concerns by providing residents with convenient access to STO’s wide range of products. In preparation for Ramadan, which…
The Maldives Monetary Authority (MMA) has released a fresh batch of MVR 20 banknotes to the Maldivian market. The central bank released the new stock of MVR 20 banknotes into circulation following a shortage, and in a statement said the new stock will replenish the dwindling stocks. However, MMA did not disclose the exact value of the fresh stock introduced to the market. MMA has previously taken similar measures, such as reprinting the MVR 100 denomination to address market demand. Those notes were added to the circulation with subtle enhancements, including the incorporation of the official Maldivian Rufiyaa symbol on…
Maldives Inland Revenue Authority (MIRA) on Sunday reports collecting a total revenue of MVR 4.4 billion in January 2026. According to MIRA, this is a 33.1% increment from the corresponding period of last year, but a 4.6% decline from the forecasts. MIRA credits this increment to the rise in the collections of Bank Profit Tax, Land Acquisition and Conversion Fee, and Tourism Goods and Services Tax (TGST). Additionally, a 7.4% increase in tourist arrivals in December 2025 compared to the same month in 2024, contributed to the increment in Green Tax and airport taxes in January. The taxation authority further…
The Maldives Monetary Authority (MMA) on Thursday, announced its operating hours for the upcoming Islamic holy month of Ramadan. The Maldives central bank in a statement confirmed it would operate from morning 09:00hrs until 13:00hrs during Ramadan and on the first seven days of Shawwal, the Islamic calendar month that follows. MMA said its banking services will be open from 09:30hrs until 12:00hrs. Additionally, it will be accepting letters and similar documents during the same operating hours.
Dhiraagu, on Thursday, has announced the lucky winners of its ongoing ‘Roadha Ready’ promotion. This is the second week of the ongoing promotion, where winners will be announced weekly. First week winners received a gift voucher of MVR 5000 sponsored from local retail chain, RedWave. This week’s winners received a voucher of MVR 5000 sponsored from Villa Mart. Dhiraagu adds that a total of 21 lucky winners will be announced throughout the entire promotion, and each week’s gift vouchers will be sponsored by popular retail chains in the country. Additionally, one lucky winner, selected on a weekly basis, will receive…
The government has distributed more than 50,000 cases of canned fish by the eve of Wednesday, February 11. According to the Ministry of Cities, Local Government and Public Works, it has overseen distribution of a total of 53,308 cases to residents of Greater Male’ region. The ministry further confirms that the distribution, as part of community empowerment and public welfare efforts by the current government, that began on January 24 ended on Wednesday. The authority also said that anyone who had not received fish cases can collect it until the first of Ramadan from MIFCO outlets. MIFCO will be distributing…
The Maldives Airports Company Limited (MACL), on Thursday, reveals completing a total of 116 hectares of land reclamation in Rasmale’ Site A. MACL made this confirmation through a message it sent to local media, and affirmed reclaiming 116 hectares out of the planned 137.5 hectares of land in Site A. The contractor also notes this is 84.36% completion of the phase, and adds work is progressing according to schedule. MACL is utilizing the largest trailer suction hopper dredgers in the world, the Cristobal Colon, which boasts a 46,000 cubic meters capacity, for the reclamation efforts. Jan De Nul operates this…
The St. Regis Maldives Vommuli Resort, a private island getaway located in one of the most exclusive atolls in the Maldives, has announced its partnership with LUX Tennis. This collaboration reinforces the resort’s established tennis programme, with a brand-new padel courts set to follow. Set against the St. Regis Maldives’ island backdrop, the enhanced LUX Tennis programme elevates the on island tennis experiences for guests of all ages and abilities through expert-led coaching and residences with internationally renowned professionals. Under the programme, guests will have the opportunity to train, play and engage with elite talent through bespoke clinics and on-court…
Maldives President Dr. Mohamed Muizzu, on Tuesday, participated in the Maldives-Germany Business Roundtable in Berlin, Germany. The roundtable – organized by the the Asia-Pacific Committee of German Business – is a key engagement that will strengthen economic cooperation between the Maldives and Germany. The event brought together senior representatives from Germany’s business and investment community. At the roundtable, the countries explored avenues for bilateral trade, private sector collaboration, and long-term commercial partnerships. Talks centered mostly on positioning the Maldives as a reliable investment destination, with focus areas including tourism diversification, renewable energy, infrastructure development, and climate-resilient projects. This engagement is…
The Ministry of Economic Development and Trade on Tuesday, announced authorizing retail outlets to operate until 01:00hrs during Ramadan. According to the Ministry’s official announcement, effective from February 10, and continuing through Ramadan, cafes and restaurants can operate from 17:30hrs until 03:00hrs. Additionally, for the first seven days of Shawwal – the Islamic calendar month that follows Ramadan – these establishments will operate from 04:30hrs until 03:00hrs. Trading hours change traditionally during Ramadan every year to facilitate greater convenience for the public accessing essential goods and services.