Author: Mohamed Reehaan
Bank of Maldives has re-opened applications for their Small Grants Fund. The fund allows local NGOs additional opportunities to access financing for sustainable environmental projects. BML introduced the fund earlier in 2022 as part of the bank’s 40th anniversary commemoratory activities. According to the bank, the fund is open for NGOs to carry community-based projects. These projects primarily address environmental issues, and promote sustainable development. Applicants must send filled application forms before 15th September 2022 via mail. NGOs registered in Maldives before 31st December 2021 are eligible for the fund.
Maldives President Ibrahim Mohamed Solih on Wednesday, 03rd August, attended the India-Maldives Business Forum held in Mumbai. The forum is hosted by the Confederation of Indian Industry (CII). The event brought together “prominent business leaders from the Maldives and India” to discuss strengthening economic ties between the two countries. In addition to attending the forum held in Mumbai, President Solih attended the India-Maldives Business Forum in New Delhi as well. The Maldives head of state delivered a keynote speech at the New Delhi forum. President Solih is currently on a four-day official visit to India on an official invitation of…
HRS Hospitality & Retail Systems; a global supplier of IT solutions for hospitality and retail businesses, signs as the next gold partner of the upcoming TTM Maldives 2022. The most coveted travel-trade event of the year, the TTM Maldives’ 2022 edition is scheduled from 23rd to 25th August 2022. HRS Hospitality & Retail Systems, recognized as an official Oracle Hospitality Partner provides a wide range of innovative solutions to its customer base including property management, PoS, spa and guest activities, business analytics, payment gateways, mobile applications, channel managers, online distribution services and finance services among other features. TTM Maldives’ newest…
Park Hyatt Maldives Hadahaa unveils their heavily anticipated three-bed overwater suite. Dubbed the Reef Residence, this three-bedroom suite fit for families of six or people traveling in pack spans 895-meters with ensuite air-conditioned bathrooms along with spacious bedrooms. Park Hyatt’s newest residence also boasts a massive 16-meter long freshwater infinity pool with extended terrace area and sunken loungers, and shaded outdoor dining and barbeque area with separate decks off the infinity pool adjoining the master and king bedrooms, granting that “premier pool access.” Noteworthy facilities of the suite include a private state-of-the-art gym facility along with in-villa spa treatments as…
The most recent amendment to Tourism Act of the Maldives has placed notable blocks on Maldives Inland Revenue Authority (MIRA) in collecting Green Tax revenue. This intervention comes thanks to the date effect for the green tax collection in a provision of the new amendment. According to the 11th amendment of the Tourism Act, the effective date for collecting green tax will commence on 01st January 2023. This recent amendment was earlier passed by the Maldivian parliament on 30th June. Maldivian President ratified the bill later during previous month, on 03rd July. MIRA began collecting green tax from tourism properties…
IDeaS join TTM Maldives 2022 edition as the event’s gold partner. The leading international travel trade show is scheduled from 23rd until 25th August 2022. IDeaS offer industry-leading revenue management solutions for businesses of all types and forms in the global hospitality and travel industry. They provide business projections and actionable insight using real-time and relevant data. TTM Maldives will include prescheduled meetings, slated for Meeruma Conference facility from 23rd to 24th of the current month, while the TTM Travel Summit and TTM Awards and Gala night are scheduled for the final eve of the event duration. Over 200 hoteliers,…
Maldives Marketing and Public Relations Corporation (MMPRC) announces their collaboration with Dotcom Arabia to promote Maldives in Germany. The campaign will be held in August 2022, with the aim of boosting brand visibility of the island nation in the German market, increase destination awareness, and drive up arrival figures from the market. MMPRC will canvas Maldives-centric billboards at Postdamer Platz-Quartier and the Berlin Airport. Germany’s Postdamer Platz-Quartier is a busy hub with an estimated advertisement reach up to 5.5 million people, while the advertisements at the Berlin Airport will reach 1.2 million potential travelers. The campaign’s partner Dotcom Arabia, is…
Bank of Maldives (BML) announces its decision to support the upgrade of Maldives National Museum, as part of the series of 12 high impact monthly community initiatives to celebrate the bank’s 40th anniversary in November. BML will support the care, preservation, and display of the national museum’s collection which includes upgrading of its conservation and preservation laboratory. In addition to this, the bank will assist in the development of an interactive content to encourage public engagement and attract visitors to the museum. “The national museum is an important institution that preserves our national history for our future generations. This is…
Top-tier tourist property Huvafen Fushi partners up with world-renowned artist Lucas Beaufort for the launch of his new artistic project “Beyond.” The celebrated artist will take residency, this summer, at Huvafen Fushi from 01st to 08th August 2022, and commence the first work of his project around the world. The multi work painting program “aims to share the colors and atmosphere of unique and unusual places like the Maldives.” Lucas Beaufort, originally from Cannes, France is a renowned painter, illustrator, filmmaker and a photographer. His work stages recurring and playful imaginary characters in creating brilliant sets and scenes in many…
Cumulative total of state expenditure as of 21st July reaches MVR20,070.7 million (MVR20.07 billion), while cumulative total of state revenues sluggishly hit MVR14,811.4 million (MVR14.8 billion). State has spent 76% of their budgetary total on recurrent expenses and 24% on capital expenses. On the other hand, state earned 74% of its revenue from tax sources and 26% of the government revenue came through non-tax sources. The overall fiscal balance for the review period is a deficit of MVR5,259.3 million (MVR5.3 billion). Tax revenues in annual terms reached MVR10,959.4 million (MVR10.96 billion) as of the review date while non-tax revenues reached…