Author: Mohamed Reehaan
The price of oranges in the local market and general bazaar has seen significant increase amid Ramadan. Ramadan, the ninth month in the Islamic lunar calendar, is a period where Muslims obverse fasting during daylight hours. It is also a period where consumption rates spike across all food groups in the Maldives, especially potatoes, eggs, onions, watermelons, and oranges. Currently a single orange is retailing between MVR 12 and MVR 15 in the open market. However, State Trading Organization (STO) has lowered the threshold by selling at stable rate of MVR 40 per kilogram, which translates to just MVR 6…
Bank of Maldives (BML), has announced that its Board of Directors has recommended a dividend payout of MVR 60 per share, following the bank’s strong financial performance in 2025. The national bank revealed that it achieved a net profit of MVR 2.5 billion in 2025, making a 9.8% growth compared to 2024. Furthermore, the bank said that the Board has also proposed a bonus share issue, offering two additional shares for every single share currently held by shareholders. The final dividend amount and the bonus share proposed are subject to approval at the bank’s upcoming Annual General Meeting. BML further…
Bank of Maldives (BML), the country’s national bank on Wednesday announced that it achieved record-breaking financial results last year. The bank reports generating a net profit of MVR 2.5 billion in 2025. According to the financial statistics the bank released, the profit after tax stood at MVR 2.5 billion, a 9.8% increase compared to the previous year’s net profit. While the profits have increased, the bank’s total assets have grown to MVR 55.8 billion. The figures further reveal that BML disbursed MVR 10 billion in new loans and financing to individuals and businesses over the past year. Additionally, more than…
State Trading Organization (STO) on Wednesday, February 25, announced a revision in the prices of onions and potatoes, effective from the date of announcement. This price revision aims to reduce the cost of essential commodities during Ramadan, the Islamic holy month where Muslims all over the world observe fasting. STO also said this decision will enhance financial relief for consumers during this period when demand for such commodities increase. STO further said the company was working to stabilize the prices of essential food items and ensure uninterrupted availability. According to the new price revisions, onions will now be sold at…
Visit Maldives Corporation (VMC) is set to make a strong return to ITB Berlin 2026. The ITB Berlin will take place from March 3 to 5, 2026 at Messe Berlin. Maldives is set to showcase its industry strength through a dynamic national pavilion, while this year’s participation extends beyond the exhibition floor. Moreover, Visit Maldives will be reviving the Maldivian Night and a dedicated international press conference at the world’s largest travel trade show. The reintroduction of Maldivian Night marks a significant highlight in the destination’s global engagement calendar. Designed as an exclusive, invitation-only gathering, the Maldivian Night is poised…
In conjunction with the Maldives Marine Expo, Caudwell Marine has officially launched its diesel outboard engines in the Maldivian market for the first time. Caudwell Marine is a renowned British marine engineering firm dedicated to revolutionizing the outboard engine industry through high-quality and dependable products. The company has now commenced the introduction of its product line in the Maldives, marked by its participation in the Maldives Marine Expo and a specialized event for its “AX300 Diesel Outboard” engine. The event was attended by media representatives, maritime professionals, industry leaders, and partners of Caudwell Marine. The primary objective of this event…
Nobu Hospitality has officially confirmed its debut in the Maldives with the announcement of Nobu Hotel, Residences, and Restaurant Maldives. This new property, the first-ever of Nobu Hospitality in the Maldives, is set to be developed on the private island of Munyafushi in Laamu atoll. According to Seanses, the property is scheduled for a 2029 debut. Seanses also reports this development “is being undertaken in partnership with Sarat International” led by Managing Director Ali Ahsan. Sarat International has appointed Engineer Abdulaziz Bin Mohammed Alkhudair as Chief Advisor for the project. The tourist property will reportedly be comprised of a total…
The Ministry of Construction, Housing and Infrastructure has revealed that a total of 5,067 applications have been submitted so far for the latest housing schemes introduced under the current administration. According to information the ministry shared with state media, out of the total 5,067 applications, 3,434 individuals have applied for flats while 1,633 individuals have applied for land plots. The current administration officially opened application window earlier on January 18, and said that interested applicants were required to submit their forms through the designated portal via eFaas login. The deadline for land plot applications is set at 23:59hrs of March…
According to the latest statistics from the Ministry of Tourism, tourist arrivals to the Maldives so far this year has surpassed 400,000. This represents a significant growth compared to the corresponding period last year. As per the data from the ministry, Maldives has welcomed a total of 418,034 tourists as of February 21, 2026. This is a 9.5% increment compared to the 381,870 arrivals recording during the same period in the previous year. The tourism ministry data also reveals that the country currently sees an average daily influx of approximately 8000 visitors. In terms of accommodation preferences, resorts remain the…
Nova Maldives has announced that it has been recently awarded ‘Best of Barefoot 2026′ at the Stop Over Reisen Awards 2026. The Stop Over Reisen, a leading luxury tour operator with more than 35 years of expertise in curating high-end Maldivian escapes, presents the annual awards to celebrate the resorts that have most captured guests’ hearts. The awards are given entirely based on client votes, which reflect genuine guest experiences and the meaningful connections they formed during their stays. The General Manager of the resort, Abdulla Aboobakuru said that this recognition was meaningful as it “came directly from guests” and…