A digest of news and opinion from the Maldives.
The Ministry of Tourism has stated that there are 306 tourist facilities currently open and operating in the Maldives, up until 4th November. According to statistics from the Ministry, this figure includes 120 resorts, 65 guesthouses and 121 safaris. This is a total of 32,622 beds. The Ministry stated that there are an additional 9 […]
Housing Development Corporation (HDC) is seeking interest parties for the development and operation of a Cold Storage Facility in Hulhumalé. The selected party will be responsible for the design, construction and management of the property for the duration of the lease term. The property will span over a plot area of 5,381.91 square feet. HDC […]
Bank of Maldives (BML) has announced no-mortgage ‘Green Loans’ for personal and business customers wanting to invest in green technology. BML stated that eligible personal banking customers can borrow from MVR 50,000 up to MVR 500,000 without any additional security at 12% interest. Customers can choose up to a 5-year period for repayment. The Green […]
Fitch Ratings Inc., an American credit rating agency, has now downgraded Maldives’ long-term foreign-currency Issuer Default Rating (IDR) from ‘B’ to ‘CCC’. According to Fitch, “the downgrade of the Maldives’ IDRs to ‘CCC’ reflects Fitch’s expectation of deeper and more prolonged external liquidity pressures than previously forecast, and a sharp increase in the country’s debt […]
Fuloaku Tales, local creator of children’s storybooks, has unveiled their newest book called “Idhikolhu Dhaskuramaa”. “Idhikolhu Dhaskuramaa” is a board book that teaches children the concept of “opposites”. The opposing concepts explored in the book presents a rich fact or a statement of humour and irony. Each page features a fun, colourful illustration and an […]
Lotus Fihaara has recently restocked their Evren brand flour, perfect for baking your next batch of bread. Evren is a Turkish flour brand, renowned for its high quality. The 1kg pack retails at Lotus Fihaara for only MVR 12. According to a tweet by Ahmed Arif, Chairman of Senior International, the flour is stored in […]
Doodle Craft & Stationery, supplier of quality office stationery and art and craft materials, has expanded its business with a second store in capital Male’. The store is located on Lily Magu and offers an elevated experience. Whether you’re a seasoned professional, a vehement enthusiast, or you’re merely dabbling in the arts, Doodle has got you covered […]
The Tourism Ministry has warned that they will be revoking permits of resorts and guesthouses operating in violation of COVID-19 guidelines set forth by the Health Protection Agency (HPA). On 15th July, inbound travel restrictions were lifted in the Maldives, allowing resorts to reopen their doors and resume operations according to HPA guidelines. In a […]
On Wednesday, the Ministry of Finance released a report on the weekly fiscal developments, which revealed that the government’s expenditure stands at MVR 21.7 billion, as of October 29. This figure is nearly two-fold higher than the government revenue figure of MVR 11.3 billion. The bulk of the revenue was generated from taxation, accounting for […]