Author: Mohamed Reehaan

Maldives Customs Service launch investigation on a suspicious shipment, owing to verifiable intel received to the authority about potential smuggling or contraband activities. Customs said that the consignee had declared the shipment contained 343 cartons of paper tissue earlier on May 19, 2024. Upon receiving intel about potential contraband within the shipment, Customs executed a joint operation on June 13, 2024 to inspect the items brought in the shipment. Customs said besides the 343 cartons of paper tissue declared by the consignee, the shipment contained 200 master cartons of cigarette – which is a total of 3,199,200 cigarettes. The authority…

The Standard, Huruvalhi Maldives resort has launched a new room package, in which two signature villa experiences are rolled into one “dreamy four-night stay”. The “2N Beach Villa + 2N Water Villa” package starts from USD 470 per night and requires a minimum stay of four nights, with guests enjoying two nights in a Beach Villa followed by two more nights in an Overwater Villa. The return sea plane transfer is included for two adults for stays of 4 nights and above. Guests can also enjoy various meal plans, including Half Board, Full Board, and All-Inclusive Plus, as well as…

The protests launched by local fishers on Wednesday in light of government’s delay in fulfilling its pledges, and MVR 80 million in outstanding payments, were called off after the state assured to comply. The Ministry of Fisheries and Ocean Resources on Thursday early hours, promised for diesel rate cuts ensuring fishers were able to refuel their vessels from inland sheds at a comparatively cheaper rate, and a no-go on its decision to incorporate longline fishing in yellowfin tuna fishing activities. Earlier, Maldives Industrial Fisheries Company (MIFCO) said it was working with the government to pay the outstanding MVR 80 million…

CROSSROADS Maldives announces partnership with BEOND Airline – the world’s first premium leisure airline – with the promise of one of the most exclusive promotional campaigns of the year focusing Maldives tourism. This limited-time partnership assures BEOND passengers an exquisite travel experience, offering complimentary nights and discounts at two CROSSROADS Maldives properties; SAii Lagoon Maldives, Curio Collection by Hilton and Hard Rock Hotel Maldives. Passengers flying with BEOND will receive two complimentary nights for every two paid nights at Hard Rock Hotel Maldives, and discounts of up to 35% at SAii Lagoon Maldives. The exclusive booking window is now open…

The Maldives government generated a revenue of MVR 1.66 billion for May 2024 – out of which 66.57 million in US dollars. This revenue total is a 4.8% drop compared to the same month last year, mainly due to the decline in Corporate Income Tax, GGST, and Airport Taxes and Fees. Furthermore, though there was deadline for Income Tax in May, some taxpayers opted to pay for upcoming deadlines during May 2023. In the same month this year, mostly dues were collected. Besides that, GGST collection slightly declined due to non-payment of tax by the deadline during the review month.…

State Trading Organization (STO) on Wednesday, made a donation of MVR 300,000 through Public Service Media (PSM)’s telethon to help war-torn Palestine. The country’s largest state-owned enterprise (SOE), made this donation to assist the battle torn Palestine; which has faced massive displacements, mass killings and genocide, with malnutrition on the rise – all due to ongoing attacks by Israel which has continued to reject international calls for a permanent ceasefire. Besides this donation, STO has been raising funds for the cause through donation boxes kept at STO Head Office and STO People’s Choice in Male’ City. Additionally, STO is raising…

Maldives Monetary Authority (MMA) reports merchandize trade deficit widened from USD 669.3 million in Q1-2023 to USD 768.5 million in Q1-2024; owing to higher imports compared to exports. Compared to Q4-2023, the merchandize trade deficit in the review quarter saw a drop of only 6%. According to the Maldives central bank’s Quarterly Economic Bulletin, total merchandize exports – comprising of domestic exports and re-exports – saw an annual drop of 5% in the first quarter this year, registering a total of USD 131.3 million. This drop is due to a steep decline in domestic exports; which has been on the…

State Electric Company (STELCO) has come forward with a generous donation for the Palestinian cause. The country’s premier utility provider on Wednesday, extended a generous donation of a whopping MVR 500,000 at the Public Service Media (PSM)’s telethon, aired with the cause of raising funds to assist Palestine – with ongoing onslaught and military incursions against them by the Israeli armed forces. Besides this donation, senior officials, staff and management of STELCO have been extending donations to the fund box stationed at the utility provider’s headquarters in Male’ City. STELCO adds their donations reflect the utility provider and its employees’…

Maldives Transport and Contracting Company (MTCC) has reported an annual total revenue of MVR 3.2 billion for 2023, as per annual report. Its revenue for last year is a notable increment compared to the year before during which gross revenue had reached MVR 2.47 billion. Last year, MTCC reported a gross profit of MVR 217 million, observed after a deduction of MVR 2.98 billion in Cost of Sales. With the inclusion of MVR 513 million in ‘Other Income’, but after subsequent deductions in administrative, sales and marketing expenses, and impairment on financial loss/contract assets, MTCC reported an operating profit of…

Bank of Maldives (BML) on Monday, June 10, introduced its US dollar ATM service in K. Maafushi – known as a guesthouse hub in the Maldives. The new ATM installed at Maafushi branch will support individuals and businesses in withdrawing and depositing USD conveniently. This is the first USD ATM established outside Male’ City. “We are delighted to introduce the first USD ATM in Maafushi to cater to the growing need for USD deposits and withdrawals on the island. The Maafushi economy is thriving and as the nation’s biggest bank, we are here to support individuals and businesses with 24/7…