A digest of news and opinion from the Maldives.
Housing Development Corporation (HDC) has signed a lease agreement with Jalboot Marine Service today. According to the agreement, HDC has leased the ground floor of the Marine View Building to Jalboot Marine Service to operate a Marine Showroom to sell marine equipment and marine driveline for 10 years. Jalboot Maldives is a subsidiary Jalboot Holdings […]
India has become the top market to the Maldives in 2020, as per the statistics by the Ministry of Tourism. India is now one of the fastest-growing outbound tourism markets in the world, second only to China. The Maldives has welcomed 62,905 Indian travellers in 2020 with a market share of 11.3%. The island nation […]
The Government of the Republic of Maldives and the Government of France signed an agreement on the G-20 Debt Service Suspension Initiative (DSSI), to temporarily suspend debt-service payments owed to bilateral creditors. The agreement was signed on behalf of the Government of the Republic of Maldives by His Excellency Omar Abdul Razzak, High Commissioner of […]
Maldives Customs has confiscated 21 boxes containing 429kg of shark fins on their way to be illegally exported through Velana International Airport. The shark fins concealed in a shipment declared salt fish seized on Sunday is said to be worth over MVR 2.6 million. Customs shared photos of the shipments on their Twitter account, displaying […]
Turkish Airlines, the national flag carrier airline of Turkey, is now operating daily flights from Istanbul, Turkey to Male’, Maldives from 1st – 17th January 2021. The airline commenced operations to the island nation on 7th August, after a temporary halt in March due to the pandemic. Since then, Turkish Airlines has been operating weekly flights to […]
Bank of Maldives (BML) has issued over MVR 578.5 million in loans to large-scale businesses struggling to mitigate the financial impact of the COVID-19 pandemic. Statistics released by the Finance Ministry show that MVR 578.5 million and USD 8 million in loans to 422 large-scale businesses were issued through BML as of 30th December 2020. […]
Ministry of National Planning, Housing and Infrastructure has revealed on Monday, that the first phase of the reclamation work in Kaafu Gulhifalhu has been completed. Six million cubic metres of land has been reclaimed as part of the Greater Male’ Connectivity Project (GMCP). According to the Ministry, efforts are now in place to install revetments. […]
The price of dollars on the foreign exchange black market has suddenly and unexpectedly fallen. According to a number of businessmen, the price of dollars which was previously being sold between MVR 19.25 and 19.35 has dropped to MVR 18.40 to 18.60 within the past two days. The reason for the fall in price is […]
Did you know? You can send and receive money online globally at any time via Island Financial Services Pvt Ltd, the principal-agent for Western Union (WU). WU is an American worldwide financial services and communications company that offers products such as person-to-person money transfer, money orders, business payments, and commercial services. WU has over 150 years […]