A digest of news and opinion from the Maldives.
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 […]
The Indian High Commissioner to the Maldives, Mr Sunjay Sudhir has given his insight into the development projects currently underway in the Maldives. In an exclusive interview with MV+, Mr Sudhir briefly spoke about the ongoing projects in the Maldives that the Indian High Commission was assisting with. When asked, he explained that there was […]
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 […]
Maldives Transport and Contracting Company (MTCC) has stated that the Ha. Hoarafushi Airport project will be done by Sunday. According to MTCC, the project is underway with 84% overall completion. Construction of the runway, which spans 1,200 meters, is now at 99% completion. The terminal building and fire building are currently ongoing with 75% and […]