Author: Mohamed Reehaan
The Maldives government on Tuesday submitted an amendment to the Tourism Act, proposing to shorten the payment period for tourism land lease extensions from two years to six months. The bill, submitted on behalf of the state, sponsored by Dhangethi MP Abdulla Rasheed, proposes amendments to Article 9 of the Act. The law currently states that the payment for lease extensions of up to 50 years shall be settled within two years, but should the amendment become implemented eventually, the period will shorten to six months. The relevant parties that owe this payment within six months will be required to…
The Maldives government collects MVR 2.93 billion revenue, 75.77 million of which in US dollars, in July 2024, reports the Maldives Inland Revenue Authority (MIRA). This revenue collection is a 17.1% decline from the same month last year. MIRA said that the GST and Income Tax deadlines during June 2023 was extended to July 2023, as those deadlines fell to the Eid-ul-Al’ha holidays, which resulted in a higher revenue collection last year. No such deadline adjustments were granted during July this year. Despite the decline compared to last year, the revenue collection in the review month is still 16.4% below…
The St. Regis Maldives Vommuli Resort announces an exquisite hotel package poised to offer luxury-seeking couples an “extraordinary eco-conscious adventure unmatched in the Maldives.” The Abyss Champagne Package “transcends the boundaries of luxury” and offers a transformative experience blending unparalleled indulgence with environmental responsibility. Guests booking this package will receive a highly exclusive bottle from one of the world’s most innovative and sustainable champagne makers, LeClerc Briant. The Champagne LeClerc Briant Cuvee Abyss Brut Zero is aged 60 meters under the Atlantic Ocean for 10 months, where the internal pressure of the champagne in the bottle matches the pressure of…
The Ministry of Housing, Land, and Urban Development has announced that the heirs of Male’ area landowners, will inherit these lands upon the demise of the owners. The ministry said this is applicable to the recipients who were finalized to receive plots under Binveriya Scheme launched during the former administration. The current administration has begun awarding these lands to the recipients, while some of the plots still remain unallotted since these areas have not been reclaimed yet. The Housing Ministry announced that in the case of the demise of any finalist applicant, their heirs must prove their right to inheritance…
One of the longest-serving parliament lawmakers, Maamigili MP and founder of the Jumhoory Party (JP), Qasim Ibrahim, has spoken against the government’s decision to raise the fees related to the expat quota. According to the relevant law, employers need to furnish MVR 350 per expatriate and a MVR 2,000 quota fee per annum per expat employee. The government proposed amendments to the Employment Act recently, which sought to grant the state discretion to revise these fees in every 18 months. The amendment also stipulates that the price revisions must not exceed 30% of the present value. At the Committee on…
Tesla is recalling 1.68 million cars in China for a remote software upgrade to ensure that they warn the driver when the trunk is not locked shut. The announcement made on last Tuesday also said that vehicles with faulty trunk latches will be repaired free of charge. The recalls affect some imported Model S and Model X vehicles and domestically made Model 3 and Model & cars manufactured between October 15, 2020 and July 17, 2024. The recall notice said that an unlocked trunk lid could open during driving, interfering with the driver’s vision. The US-based electric vehicle maker will…
Billionaire Elon Musk’s social media platform X has sued a group of advertisers, alleging that a “massive advertiser boycott” deprived the social media titan of billions of dollars in revenue and violated antitrust laws. X, formerly known as Twitter, filed the lawsuit on Tuesday in a federal court in Texas against the World Federation of Advertisers and member companies Unilever, Mars, CVS Health, and Orsted. In the lawsuit, X accused the advertising group’s brand safety initiative, called the Global Alliance for Responsible Media, of helping to coordinate a pause in advertising after Musk bought Twitter for USD 44 billion in…
The Maldives has attracted over 1.2 million tourists as of August 6, 2024 according to the Ministry of Tourism. According to the ministry’s statistics, the island nation has attracted 1,221,816 tourists from January 1 to August 6, which is a 10.2% increment in annual terms compared to the same period last year, during which arrivals stood at 1,108,715. Top 10 Markets 2024 China: 168,624 Russia: 130,908 UK: 107,583 Italy: 89,563 Germany: 88,566 India: 73,258 USA: 43,022 France: 36,732 Switzerland: 25,011 Spain: 23,598 Total arrivals from August 1 to 6 saw a 15.7% increment, registering 38,759 arrivals compared to the 33,488…
The Maldives President Dr. Mohamed Muizzu has called India an “invaluable partner.” President Dr. Muizzu reaffirmed his administration’s full commitment to strengthening the historic and close connections between the Maldives and India. He made these remarks while speaking at the ceremony held on Saturday at the President’s Office to hand-over the completed water supply and sewerage facilities on 28 islands. The projects were funded by the Indian government’s Line of Credit facility through EXIM Bank of India. President Muizzu highlighted that these initiatives would provide significant economic benefits, boost the local economies, and contribute to the country’s prosperity. He also…
The Maldives Monetary Authority (MMA) has announced seeking eligible applicants for the five Managing Directors positions that were recently introduced to the central bank’s hierarchy. The Maldives central bank made the announcement on Thursday via the state gazette, announcing that it was seeking capable, educated, and experienced applicants for the roles. Eligible applicants of both genders are welcome to apply, MMA said in the announcement. The Managing Directors will be appointed to the following areas: Monetary Policy, Research and Statistics Financial Stability Banking Operations Corporate Service Financial Sector Development MMA also confirms that the MD position’s duration is two terms…