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A digest of news and opinion from the Maldives.

2020

STO Announces a Third Quarter Net Profit of MVR 100 Million!

STO Announces a Third Quarter Net Profit of MVR 100 Million!

1 min read

State Trading Organisation (STO) has announced a profit after tax of MVR 100 million for the year’s third quarter. The Q3 financial report released by the company shows that an income of MVR 1.5 billion was generated. However, when comparing against last year’s Q3 income of MVR 2.2 billion, the income is MVR 700 lower. […]

TrustEng Maldives to Construct the 2nd Largest Prefabricated Commercial Building!

TrustEng Maldives to Construct the 2nd Largest Prefabricated Commercial Building!

1 min read

TrustEng Maldives has signed the 2nd largest prefabricated 10 storeys commercial building construction agreement with Blue Ocean Ventures Pvt Ltd in the commercial hub of Male’, at M. Jaliyaa in front of MPL main Harbor. Once completed the building will be the second tallest prefab building in the Maldives! TrustEng Maldives Group is a group […]

Thilafushi and Gulhifalhu Project Drawings Will Now Be Approved by HDC

Thilafushi and Gulhifalhu Project Drawings Will Now Be Approved by HDC

1 min read

It has been decided that architecture plans and drawings for the buildings being built in Thilafushi and Gulhifalhu will now be overseen and approved by the Housing Development Corporation (HDC). In a statement by HDC yesterday, it was said that in relation to all the projects acquired from its merger with Greater Male Industrial Zone […]

Businesses in Maldives to Get Onboard #boycottfrenchproducts? It’s Likely

Businesses in Maldives to Get Onboard #boycottfrenchproducts? It’s Likely

2 min read

The hashtag has been trending on Twitter for days. These are definitely some bad days for France, with Muslims boycotting French products and a second national lockdown announced in France. Tensions between France and Muslim-majority nations were ignited after a French teacher who had shown caricatures of the prophet in class was beheaded. There have […]

Switzerland Declares Maldives #SafeToTravel! No Self Isolation Required from 29 October 2020

Switzerland Declares Maldives #SafeToTravel! No Self Isolation Required from 29 October 2020

2 min read

The Maldives has been marked safe by Switzerland, enabling travellers to return to Switzerland without the need for mandatory self-isolation from 29th October 2020. The new version of the “risk countries list” of the Federal Office of Public Health (BAG) Switzerland has removed the Maldives and have been given the green light for Swiss nationalities […]

Maldives Boasts Not One; Three Biosphere Reserves! How Many Have You Visited?

Maldives Boasts Not One; Three Biosphere Reserves! How Many Have You Visited?

3 min read

The beauty of Maldives stands out like a pearl in the ocean. It’s stunning but wouldn’t remain so unless these areas are protected. With Addu City and Fuvahmulah declared as UNESCO Biosphere Reserves, it is hoped the Maldives find better ways to manage sustainable development and protect biodiversity Biosphere reserves are ‘learning places for sustainable development’. […]

Debt, Debt, and More Debt! Government to Create a Loan Restructuring Committee

Debt, Debt, and More Debt! Government to Create a Loan Restructuring Committee

1 min read

A report was passed in the Parliament yesterday, suggesting that the government restructures all debt except for those payable to foreign parties or international organisations. The report addressed a number of major points in relation to the government’s debt issue. The first point was loan restructuring or reprofiling, for which a special committee would need […]