A digest of news and opinion from the Maldives.
Moody’s says the Maldives’ (B2 stable) announcement of a tap bond offering on its existing $200m 7.0% notes due 2022 will carry the B2 rating of the senior unsecured US dollar-denominated notes issued in June 2017, based on the preliminary prospectus. The senior unsecured notes will rank pari passu with all of the Government of […]
Employees of Maldives Customs Service pictured at the celebration of the company’s 127th anniversary. PHOTO: HUSSAIN WAHEED/MIHAARU Maldives Customs Service has opened the bid to develop four towers of 15-storeys each in the second phase of reclaimed suburb Hulhumale. Customs announced Sunday that interested parties are to submit their proposals before December 4. The government […]
A 12% increase in national income is expected in 2017 compared to 2016. According to the government, this is due to the increasing economic growth rate and economic development projects that have been implemented successfully. During the year, import duty for cigarettes, fizzy drinks and energy drinks was increased. Additionally, an airport development fee policy […]
Two tourists being served at Sun Island Resort & Spa. PHOTO: NISHAN ALI/MIHAARU The tourism sector’s contribution to the Gross Domestic Product (GDP) of the Maldives has dropped over the past four years despite increasing by 53.7 percent in revenue. According to the official statistics published by the National Bureau of Statistics on Monday, tourism […]
The Auditor General’s Forum is the Maldives’ national platform for all professional auditors and accountants to address strategic issues that are shaping the operating environment of organizations today and gain insights to effectively manage the associated risks of business. Invited to address the gathering were Sri Lankan professionals Arjuna Herath, Senior Partner Ernest & Young […]
Six ministries have been sent right to information requests after refusing to hand over data to the Maldives Independent, which wanted to fact-check claims made by President Abdulla Yameen. Yameen rattled off figures and challenged “political leaders who say they do not see development” at the November 17 rally marking the four-year anniversary of his […]
A chapter of the forums organised for Small and Medium Enterprises (SMEs) by the Ministry of Economic Development, “SME Finance Forum” will be held at HDh. Kulhudhuffushi on 26 November. According to the Ministry, the forum held in Kulhudhuffushi is especially for the HDh. Atoll area and information about development and growth of SMEs in the […]
The government of Maldives has proposed to bring amendments to tax regulations of the country. These amendments are expected to help increase national income. One of the changes that would be brought about is the dissolution of the threshold for registration statement of Goods and Services Tax (GST). Additionally, there will be changes to Business Profit Tax (BPT) […]