Author: Mohamed Reehaan

Fenaka Corporation, state-owned utility provider besides STELCO, has sought the assistance of the Anti-Corruption Commission (ACC) to improve the company’s operations. Fenaka confirmed this via X (formerly Twitter), noting that it had actively engaged with ACC to explore strategies on improving the company’s various processes. It added remaining committed to maintaining “highest standards of integrity and professionalism in every aspect of” its operations. An official of Fenaka was quoted by local media Sun, that the discussions with ACC were initiated seeking the commission’s expertise to further improve the utility provider’s functions, and added the commission was the most suited in…

The Nautilus Maldives has been recognized among the top five resorts in the Indian Ocean in the 2024 Condé Nast Traveler Readers’ Choice Awards. The property is the only Maldivian resort offering a unique private island experience without requiring an exclusive buyout. “We are honoured by this recognition from Condé Nast Traveler’s readers,” said Pietro Addis, General Manager of The Nautilus Maldives. “This achievement reflects the unwavering dedication of our team, as well as the trust and loyalty of our guests who appreciate The Nautilus’s distinct vision that ultra-luxury should be free from any form of restriction – particularly time…

Patina Maldives, Fari Islands has announced three exclusive live performances by Café Del Mundo, the renowned global guitar duo, on October 28th and 30th and on November 01st, 2024. Café Del Mundo – featuring Jan Pascal and Alexander Kilian – known for their fusion of flamenco, classical, jazz and modern-pop will bring their unique sound to the Maldives. The two, for their unique artistic flair in contemporary music, have received standing ovations by thousands of concertgoers and millions of online fans rejoice their work consistently. The two boasts an impressive career having performed with the Royal PhilharmocOrchestra while they have…

The Maldives official reserves declined by USD 72 million in September 2024 compared to the preceding month, according to statistical updates from the Maldives Monetary Authority (MMA). As per data from the central bank, publicized on its website, the Maldives had USD 443.88 million in its official reserves at the end of August this year, which is an increment of USD 48.45 million compared to the end of July 2024. However, the reserve amount dropped to USD 371.22 million as of September 24, 2024. Although the usable reserve saw an increment of USD 61 million in August, this too, dropped…

The Ministry of Economic Development and Trade on Monday highlighted Bank of Maldives’ (BML) acceptance of RuPay payment option a significant milestone. The ministry in its statement said that this marks a major step towards financial integration and the modernization of payment systems in the Maldives – which was conducted in the presence of President Dr. Mohamed Muizzu and Indian Prime Minister Narendra Modi in New Delhi. “This landmark initiative is expected to significantly enhance digital transaction capabilities between the two nations, streamlining financial operations and fostering stronger economic ties.” The ministry further emphasized that the introduction of the RuPay…

The Maldives and India have signed a USD 400 million and INR 30 billion currency swap agreement. The agreement was signed between the Maldives Monetary Authority (MMA) and the Reserve Bank of India (RBI) on Monday afternoon, following the bilateral talks in New Delhi between Maldives President Dr. Mohamed Muizzu and Indian Prime Minister Narendra Modi. Under the agreement, the Maldives central bank is allowed to draw a swap facility under two windows: USD or EUR window and INR window respectively, against the Maldivian currency; Rufiyaa (MVR). The facility also allows MMA to make multiple draws, up to a maximum…

The Bank of Maldives (BML) on Monday announced that it has begun accepting RuPay cards on its ATMs and POS terminals. RuPay, a product of the National Payments Corporation of India (NCPI), is India’s first global card payment network which is now used by more than 300 million users worldwide. Highlighting this achievement, the bank’s Director of Retail, Business and SME Banking, Moosa Nimal said, “We are delighted to partner with National Payment Corporation of India to facilitate the acceptance of RuPay cards in the Maldives.” “RuPay has made a significant impact on the retail payment systems in India and…

The Managing Director of State Electric Company (STELCO), Hussain Fahmy has said the company’s ongoing initiative of establishing an electric vehicle charging station (EV Station) is an important step towards environmental sustainable efforts at a larger scale. Fahmy said the initiative was aligned with Maldives President Dr. Mohamed Muizzu’s broader vision for a greener future. The STELCO Managing Director, while providing latest updates of the ‘green’ initiative, said that the project has been proceeding at a fast pace. He also highlighted the project is STELCO’s way of adding into President Muizzu’s vision of reducing the country’s carbon footprint and enhancing…

The Maldives has welcomed a little over 1.5 million travelers so far in 2024, indicating an annual 9.5% increment. According to statistics published by the Ministry of Tourism on Sunday, Maldives has welcomed a total of 1,517,068 tourists from January 01 to October 05, 2024. In the same period last year, Maldives had attracted 1,385,883. Tourist Arrivals – Monthly January: 192,385 February: 217,392 March: 194,227 April: 168,366 May: 119,875 June: 123,284 July: 167,528 August: 176,175 September: 132,788 October (1st-5th): 25,048 The daily arrival average in annual terms is now 5,537 travelers, and the average duration of stay is 7.7 days…

Sun Siyam Olhuveli has announced the AstroFest 2024-2025, transforming the property into a “celestial oasis” for this festive season, from December 21, 2024 to January 08, 2025. This year’s theme is a cosmic celebration of space, “where floating astronauts, glowing planets, and celestial decor transport guests into a dazzling universe.” The festivities will begin on December 21st with the Christmas Tree Light-Up Ceremony – setting the scene for the magical season ahead. On Christmas Eve, December 24th, a Gala Cocktail Session at sunset followed by live performances from DJ Jeremiah and belly dancer Vika Kolesnyk is on the schedule. On…