Author: Mohamed Reehaan

Maldives National Association of Construction Industry (MNACI) raised concerns over the government delays in paying private contractors for state-initiated projects. MNACI said that private construction companies, contracted for various state-initiated projects under the Public Sector Investment Program (PSIP) or other projects face delays in receiving their payments. The contractors also, under the agreement, generally spends from their own funds to execute the project, which it gets compensated added with the service profit in the billed invoice to the government. Due to delays in payments by the state, several contractors are challenged in paying to their workers or to third-party suppliers.…

Fairmont Maldives Sirru Fen Fushi has been recognized as the sixth best resort in the Indian Ocean in the Condé Nast Traveller Readers’ Choice Awards 2023. Over 520,000 Condé Nast Traveller readers submitted responses, rating their travel experiences across the globe for the readers’ choice awards. “We are truly proud and honored to receive this prestigious award by the readers of Condé Nast Traveller,” said Steven Stefaniuk, the General Manager of Sirru Fen Fushi. “This acknowledgement is a true testament to the dedication, hard work, and passion of our team members who continuously strive to provide exceptional service and hospitality.…

Dusit Thani Maldives has been recognized among the South Asian region’s best resorts in this year’s Condé Nast Traveller Readers’ Choice Awards. The resort stood out among thousands of contenders for its commitment to delivering exceptional hospitality experiences. “It is truly an honor to receive the Condé Nast Traveller Readers’ Choice Award for 2023. This accolade is a testament to the hard work and passion of our team, as well as the loyalty of our valued guests,” said Jean-Louis Ripoche, the General Manager of Dusit Thani Maldives.

Yamaha’s technical training focused on its motorbikes and outboard engines has concluded successfully, with certificates conferred to participants. A total of 25 participants from various companies participated in the training program held from September 12 to 25. The participants agreed they learned valuable and new skills in the program. “We received a lot of information under a short span. Everything in the training was conducted professionally, and it was as perfect as the training programs held previously,” a participant commented. The program held by Alia Investments in collaboration with Yamaha’s Technical Academy in Japan aimed to create trained professionals to…

Indira Gandhi Memorial Hospital (IGMH) has spent nearly MVR 1 billion for its outsourced departments. IGMH said that it outsourced only two of its departments to foreign hospitals. The hospital outsourced its National Cardiac Center and National Urorenal and Fertility Center to two Indian hospitals. IGMH signed the agreement with Meditrina Hospital on November 15, 2015 to manage the National Cardiac Center for a period of 10 years. The Indian hospital is also responsible with managing clinical services and providing training experiences for local doctors. From the date of the agreement until July 2023, IGMH has spent USD 28.7 million…

Maldives government has sold an additional MVR 3.1 billion worth of treasury bills (T-Bills) to adjust state expenditure. The Ministry of Finance has sold a 28-day repayment T-Bill worth MVR 1.7 billion and a 98-day repayment T-Bill worth MVR 230 million. Besides this, the government has announced the sale of T-Bills for the following; T-Bill worth MVR 200 million with a 182-day repayment plan T-Bill worth MVR 980 million with a 364-day repayment plan The T-Bills are sold at an interest rate between 3.50 to 4.60%. Earlier in September, Ministry of Finance sold T-bills worth MVR 2.6 billion.

Bank of Maldives (BML) has alarmed its customers notifying that the SMS messages sent by the bank will not consist of hyperlinks. The bank’s statement is in response to recent scams where SMS messages were sent under the BML’s name with hyperlinks. The bank confirms that the messages were part of a scam where the scammers masked the identity by using BML’s name. Following the recent stint, the bank has cautioned its customers to remain alert and not to click or open any links sent by messages from parties claiming to be BML. The number of scam calls, and online…

International Coaching Federation (ICF) and World of Tomorrow (WOT) announces coaching master classes in the Maldives. This is the first time coaching master classes will be held in the Maldives by the ICF. The classes are scheduled from October 23 to 25 at the recently rebranded Villa Nautica. ICF Vice President Robert Garcia will be leading the team of experts who will provide lectures in these master classes. Garcia is a renowned coaching expert with an impressive portfolio of providing similar master classes in globally renowned and prestigious organizations. He is also a pioneer in boosting organizational coaching culture. WOT…

Tree Top Hospital has launched a new contact center in Baa atoll Eydhafushi, which is part of the tertiary hospital’s efforts to streamline appointment bookings for its hospital and TTH Clinic services in Male’ region. The hospital said its workforce expansion is party Tree Top’s strategy to increase operational capacity, improve service accessibility and enhance the overall guest experience. The contact center of Tree Top is expected to significantly reduce wait times for contacting the hospital, which would come as relief in light of growing demands for individuals utilizing both OPD and IPD services. The hospital has already provided comprehensive…

The World Bank has forecast Maldives’ national debt to Gross Domestic Product (GDP) to increase by 115%. The bank said that though the Maldivian economy was expected to grow by 8.2% in 2023, the actual economic growth will cap at 6.5% by the year’s end. The Ministry of Finance however, projects a 9.4% growth for the economy. Statistics from the ministry reveal that state debts currently stand at MVR 108 billion. The World Bank said this figure could rise further if the debt-to-GDP ratio increases. World Bank in its South Asian Development Update said the Maldives would be impacted significantly…