Author: Mohamed Reehaan
Sunday, 01st August – Growing telecommunication company, Ooredoo Maldives celebrates 16 years of providing service to the island nation. The company’s official handle on Sunday, reflected a message of gratitude extended to all of of its customers, partners and even employees for their continued support, love which keeps them “motivated to do better every day.” Meanwhile, CEO of Ooredoo Maldives, Mr. Najib Khan through a video message remained grateful to the continued support from affiliates while he reminisced on the company’s growth. “During our 16 years of journey, our mission has been to provide inclusive access to high-quality services and…
Sunday, 01st August – Maldives Transport and Contracting Company (MTCC) reports on latest updates of their work at Shaviyani atoll Foakaidhoo. According to the contractor, their design and build of the island’s harbor was underway with an overall 41% progress achieved. Moreover, MTCC has confirmed on delivering the second shipment of rock boulders required for the breakwater construction, to the project site. The completed breakwater will measure a total of 507-meters in length. Scope of work for the project includes dredging operations for the new harbor’s basin which spans 39,995 cubic meters in volume as well as the dredging of…
Saturday, 31st July – Bank of Maldives reports a net profit of MVR299 million recorded for the second quarter of 2021. Moreover, according to the national bank of Maldives their net profit for the review quarter observed 181% increase in comparison with the corresponding quarter of 2020. During the same period of the previous year, BML made a net profit of just MVR106 million. According the bank’s latest financial revelations, BML generated a total revenue of MVR785 million, with a profit-before-tax of MVR409 million. Furthermore, the bank showed visible signs of recovery with an operating profit of MVR496 million, which…
Thursday, 29th July – State Trading Organization (STO) confirms a net profit of MVR110 million for the second quarter of 2021. Moreover, the largest state-owned enterprise reported the corporation generated a total revenue of MVR2,217 million (MVR2.2 billion) during the review quarter. As per the corporation’s latest quarterly financial review, the operating profit of STO stood at MVR150 million during the second quarter whereas it was at MVR153 million during the first quarter of 2021. However, the company’s revenue as well as the subsequent net profit improved in comparison with the first quarter of the current year. The corporation generated…
Thursday, 29th July – As per the latest developments from international travel and tourism front, Abu Dhabi has included Maldives in their updated “Green List” destinations. Moreover, the updated list will become effective from 14:00hrs on 31st July 2021 as per recent travel reports. As per existing health parameters and regulations, vaccinated travelers will be exempt from quarantine measures upon landing at Abu Dhabi, while they are required to take a PCR test upon arrival at Abu Dhabi International Airport followed by a second PCR test 6 days after arrival. Moreover, unvaccinated travelers arriving from the “Green List” destinations are…
Thursday, 29th July – India’s national carrier, Air India, has once again resumed their direct flight operations to Maldives. Earlier, the airline had briefly stopped their operations to the island nation following a resurgence of Covid-19 positive cases in Maldives capital around May 2021. Following the sudden positive case spikes, Maldives state had imposed a ban on South-Asian tourists visiting the country temporarily. Borders had reopened for South Asian travelers earlier on 15th July, with the island nation welcoming tourists from the region once again. Meanwhile, under the air-bubble initiative air travel between Mumbai and Maldives resumed once again on…
Wednesday, 28th July – Jalboot Holdings LLC and CROSSROADS Maldives announce strengthening their business ties with further expansion. According to the two corporations, under the new initiation Jalboot Holdings will be seen taking over full management of the Yacht Marina and Beach Club at the patchwork resort. “I fully expect clients of the Marina, the Beach Club and the hotels to benefit from the deepening of this partnership with CROSSROADS,” Jalboot Group’s CEO Mohamed Roestali spoke about their new stride. “This development marks a new milestone in our relationship with the Jalboot Group, that has evolved from our initial partnership…
Wednesday, 28th July – Maldives Transport and Contracting Company (MTCC) has reportedly concluded dredging operations for the new harbor’s basin at Shaviyani atoll Bilehfahi. Moreover, under the harbor development project the contractor has already commenced installation of precast concrete blocks for the construction of the quay wall. MTCC reports commencing the works for quay wall construction on Tuesday, 27th July. According to MTCC the project scope includes dredging and excavation operations spanning 40,576 cubic-meters; reportedly for the new harbor’s basin – which has been completed. Furthermore, other components of the project include construction of a breakwater and a quay wall…
Wednesday, 28th July – premier supplier of petrol and diesel, Fuel Supplies Maldives (FSM) have highlighted on the company’s plans to expand fuel delivery network across the country. Managing Director of FSM, Mr. Mohamed Gasam stressed out the challenges faced by the company in fuel delivery due to insufficient vehicle in their fleet. Moreover, Mr. Gasam had attested on the company’s pledge to acquire 04 new barges to meet the demand. Moreover, the fuel supplier company’s front-man confirms assigning an Egyptian corporation for the acquisition of the vessels. Gasam had further notified on the delays in their acquisition, stressing that…
Wednesday, 28th July – Maldives Inland Revenue Authority (MIRA) reports a total collection of MVR106 million as state-levied fines for various offenses. According to the taxation and revenue authority, the amount has been accounted for the period of January until June – first half of 2021. Moreover, the most recent statistics from MIRA reveal a 79.5% increment in the collection of fines in comparison with the corresponding period of 2020. In 2020, the Maldives government had collected a total of MVR59 million in fines. Meanwhile, the total revenue to Maldives state had reached to MVR7.49 billion accounting for the first…