Author: Mohamed Reehaan

Maldives Transport and Contracting Company (MTCC) announce it will launch the Raajje-Transport Link (RTL) test trips in Lhaviyani atoll next week. The service commencement planned for Lhaviyani atoll marks the second phase of MTCC’s RTL; nationwide integrated ferry network. Meanwhile, the project’s contractor, MTCC, earlier dispatched speed boats to the atoll prior to service launch. According to the company, technical test trips, without passengers will be carried between 17th to 20th November. Passenger-laden test trips are expected to commence on the follow-up week to this, starting from 21st to 27th November. The test trips will be free of charge, reports…

Road Development Corporation (RDC) Managing Director Ustad Moosa Ali Manik confirms development of Male’ City Ameenee Magu, one of the city’s prominent and larger roads, will enter second segment soon. Though an actual date has not been disclosed, RDC confirms first segment of the project has been completed already. The corporation will be carrying out the road restructuring project under thirteen segments. Speaking about the project, Ustad. Ali Manik affirms preparatory works to launch second segment have already been completed, as they await to acquire equipment for few works related to utility providers, as part of the larger road redevelopment…

The cumulative total of state expenditure has hit MVR31,819.1 million (MVR31.8 billion) as of 10th November, which is just MVR2.3 billion shy from hitting approved budgetary total for 2022. On the other hand, revenues inclusive of grants reached MVR22,971.3 million (MVR22.97 billion) by the review date, which is MVR1.33 billion short of reaching projected total revenue of MVR24,279.9 million (MVR24.3 billion) for the year. State has spent 74% of its budgetary total on recurrent expenses and the remaining 26% on capital expenses. Meanwhile, state earned 72% of its income from tax sources and the other 28% from non-tax sources. Major…

Maldives Parliament on Wednesday, 16th November passed the bill proposing hike in GST. In a bid to boost state earnings, Ministry of Finance earlier proposed hiking General Goods and Services Tax (GGST) and Tourism Goods and Services Tax (TGST). A total of 55 lawmakers voted in favor of the bill, which was submitted to the parliament by ruling party MP from Ihavandhoo constituency Mohamed Shifau – 26 of the present lawmakers voted against passing the bill. With this tax surge, GGST will bump to 8% from 6% and TGST will increase from 12% to 16%. Earlier, parliamentary committee that examined…

Dhiraagu expands its fiber broadband’s nationwide network with service introduction in Th. Kinbidhoo (a central atoll residential island). With the introduction of fiber broadband services, customers can now enjoy high speed internet connectivity with some of the largest data allowances up to offer. Dhiraagu launched the service with a special promotion for residents of Kinbidhoo, allowing the to enjoy free connection and free ONT router with every home fiber broadband connection. Following this service introduction, Dhiraagu high-speed fiber broadband is now available in 85% of the country’s households. According to the telecom and internet service provider, its fiber broadband is…

State Trading Organization (STO) has launched one of the largest year-end sales, with massive discounts. Customers spending MVR500 or more at STO People’s Choice and their regional stores are eligible for the draw. Sales Manager of STO People’s Choice Mr. Abdulla Saeed announced the launch of their year-end sale, confirming customers stood to receive discounts on products up to 80%. Winner of the draw stand to receive a 65-inch television, sound speaker system, and a refrigerator. Second place stand to receive an MVR15,000 gift certificate, which they can use to purchase gifts from any of the STO outlets. Third place…

Let’s Go Maldives, a multi-award winning luxury tour operator from the Maldives, opens its new office in Dubai, United Arab Emirates. The tour operator expanded its business reach with the new office opening on 01st November, Tuesday. The new branch is located in the Dubai Internet City, and will act as a hub for the company’s customers in the Middle East and Africa. In the opening message, the founder and Chief Executive Officer of Let’s Go Maldives Mr. Mohamed Riyaz commented, “United Arab Emirates is the leading platform for rising business enterprises. There is ambition, empowerment, opportunities and growth here…

Maldives President Ibrahim Mohamed Solih recognizes the role of Maldives Marketing and Public Relations Corporation (MMPRC) in Maldives tourism promotion. The Maldives head of state visited and met with management and staff of MMPRC on Monday, 14th November. President Solih had recognized the vital role of MMPRC in promoting the Maldives as a tourism destination and “extended his gratitude” to the staff for their “invaluable contributions” to the Maldives tourism sector. Maldives was recently crowned “World’s Leading Destination” at the World Travel Awards (WTA) 2022, making this the third win in a row for the island nation. Additionally, MMPRC was…

Maldives Customs Service reported a 24% increment in revenue for October 2022. According to Customs, the revenue total for the review month reached MVR364 million. Imports, including fuel, observed a 14% increase which translates to MVR4.3 billion of total imports. Imports, excluding fuel, increased by 9% which translates to MVR3.5 billion. Exports on the other hand observed a decline of 15%, which is MVR186 million worth of export commodities. Top Import Categories Food items (excluding pork, alcohol, tobacco): MVR863 million Fuel (marine gas oil (diesel), petrol, aviation gas): MVR803 million Machinery and mechanical application; electrical: MVR763 million Base metal and…

According to European Investment Bank (EIB), European Union (EU) firms continue to lead the fight against climate change compared to the US and across the EU. A survey from EIB report 88% of the firms claim having taken action to address Greenhouse Gas (GHG) emissions with more than half of EU firms “having already invested in climate action.” Despite this, war in the Ukraine and subsequent economical shocks are “testing firms’ resilience.” EIB further reported 53% of the firms are dealing with weather events’ impact, while 57% of these firms invest in energy efficiency. The survey further confirm 64% of…