Author: Mohamed Reehaan

The Raajje-Transport Link (RTL); integrated public transport network initiative commences in major population zones across the Maldives. Under the RTL initiative, bus services launched in Addu City, Fuvahmulah City and in the islands of Gan, Isdhoo and Kalhaidhoo of Laamu atoll. Maldives Transport and Contracting Company (MTCC) on Sunday, 31st August 2022, reports of commencing the bus services in the designated areas. Earlier, MTCC had acquired more than 30 mini-buses to launch the RTL mini-bus service. While the said service is yet to commence in Maldives capital Male’ City, the capital’s City Council is currently attending on vacating existing parking…

A seven-year old boy had his finger broken by his robotic opponent during a chess match in Moscow, Russia. While the origin of the incidence is still mired in debate, the video of the incident suggests that the boy took a move faster than the robot was expecting, which might have lead to the altercation. Footage of the incident shows the robotic arm grabbing and pinching the boy’s finger with sudden movement, after which people around the table rushed to the child’s aid and managed to get his finger out from the robotic arm’s grip. “The robot broke the child’s…

Maldives Transport and Contracting Company (MTCC) reported a net profit of MVR130 million for the first-half of 2022. According to the quarterly financial updates of MTCC, the company earned a revenue of MVR1.1 billion; MVR593 million earned in the second quarter and MVR550 million earned during the first quarter. On the other hand, the net profit of the contracting and transport based company for the corresponding period in 2021 stood at MVR125 million, indicating a MVR5 million improvement in the review quarter. The annual net profit of MTCC for 2021 reached to MVR272 million, while the year before in 2020…

The most recent update from the Ministry of Tourism confirms tourist arrivals to the Maldives reaching 942,444 as of 30th July 2022. This increment reflects a rise of 55.2% tourist arrivals in annual terms in comparison with the same period last year, and still 4.9% below pre-pandemic levels in 2019. In 2021, tourist arrivals in annual terms as of 30th July stood at just 607,052 whereas in 2019, it was inches close to hitting the 1 million mark; at 990,761. Tourist arrivals by single-country source market does not indicate any changes from the previous review with India maintaining top market…

Travel Trade Maldives confirms over 100 hoteliers have already registered for the upcoming TTM Maldives 2022; the leading international travel-trade fair scheduled from 23rd until 25th August. The TTM pre-scheduled meetings are slated from 23rd to 24th August at the Meeruma Conference Facility, with the TTM Travel Trade Summit and the follow-up TTM Awards and Gala Night event are scheduled for the last day, 25th August. This year’s TTM Maldives edition will be held at the first integrated tourist resort project in the island nation; CROSSROADS Maldives. Registered partners will be able to preschedule meetings for 20 minutes, with a…

State Trading Organization (STO) reports earning a total revenue of MVR4.94 billion for the second quarter of 2022. STO earned a gross total of MVR4.04 billion during the preceding quarter while it had earned only MVR2.2 billion in the corresponding quarter in 2021. According to the largest state-owned enterprise (SOE) in the Maldives, it had made a net profit of MVR155 million for the review quarter while its expenses for the review quarter stood at MVR268 million. The largest SOE of the country also reports modest improvement in net profits compared to the previous quarter during which it stood at…

Maldives hospitality powerhouse, Universal Enterprises sells two of their prized tourism assets; W Maldives and Sheraton Maldives Full Moon Resort & Spa to KSL Capital Partners. The properties, leased to Marriott International, the largest hotelier in the world, have been some of the most coveted tourist properties in the island nation. JLL, the investment advisor assisting Universal Enterprises with the trade, announced in June, of selling the properties. KSL Capital Partners, LLC on Thursday, July 28, announces its affiliates acquiring both W Maldives and Sheraton Maldives Full Moon Resort & Spa; both run under a joint venture of Universal and…

The planned mini-bus service under the Raajje-Transport Link (RTL) is progressing apace for an official launch, reports the government. All relevant bodies are working alongside Male’ City Council to launch the service in Greater Male’ area, while adding the trial phase is expected to commence within three weeks. City Council is the mandated body with vacating parking zones across the capital city to develop bus stops for the mini-bus network, which will take considerable time according to the city’s Deputy Mayor. A total of 64 distinct parking spots have been designated to private parties by the council, which requires to…

Ministry of National Planning, Housing and Infrastructure (MNPHI) reports pushing back the previously scheduled opening date of the new picnic island in Male’ atoll. According to the ministry, Kudagiri Picnic island is still under development; with some of the crucial development components still in progress including landscaping and tree planting. The island was developed in the lagoon of Kudagiri about 10.5 kilometers from Male’ City. Maldives Transport and Contracting Company (MTCC) was contracted with the development of the island for which the contractor reclaimed eight hectares of land. Moreover, the contractor is also tasked with developing shore protection structures and…

President of Maldives, Ibrahim Mohamed Solih on Tuesday, July 26, announced restrictions on fuel subsidies by the government. Subsidies are provided exclusively to necessary parties, while restrictions are effective barring supply to all equivalently. Meanwhile, government is actively working on amending regulations to allow fuel subsidies on a need-based approach. Maldives head of state made the remarks while addressing the nation on the occasion commemorating the island nation’s 58th Independence Day. He adds on counter-measures to assist economic recovery to pre-pandemic levels despite the blow amid Covid-19 pandemic and the Russia-Ukraine clash in 2022. T he crisis continues to impact…