Business

MMA lifts Western Union suspension

August 19, 2022, 13:23

Malé, Maldives - Ten days after Maldives Monetary Authority (MMA) suspended the Payment Service Providers License (No. PSP/2022/03) issued to Island Financial Services Pvt. Ltd. for the provision of Remittance… Continued

Fuel prices slashed by STO

August 18, 2022, 07:16

Malé, Maldives - State Trading Organization (STO) has lowered the selling price of both petrol and diesel. The price of petrol has been lowered from MVR 16.55 to MVR 15.99… Continued

India grants Maldives duty-free fish exports

August 17, 2022, 16:28

Malé, Maldives - The Government of India on Wednesday cancelled the duty on fish exported from the Maldives to India. This exception was granted under the Maldives' inclusion in the… Continued

MMA suspends license halting Western Union services

August 13, 2022, 11:44

Malé, Maldives - Maldives Monetary Authority has suspended the Payment Service Providers License (No. PSP/2022/03) issued to Island Financial Services Pvt. Ltd. for the provision of Remittance Service in the… Continued

Addu City partners with Maldives Ocean Plastics Alliance to recycle PET plastic

August 13, 2022, 11:24

Addu City, Maldives - Addu City Council on Thursday signed a Memorandum of Understanding with Maldives Ocean Plastics Alliance (MOPA) to bring MOPAs flagship “PET Reverse Logistics Program” to Addu… Continued

Hanimaadhoo airport project awarded to JMC PROJECTS (INDIA) Ltd

August 10, 2022, 21:46

Malé, Maldives - Economic Ministry of Maldives has awarded Hanimaadhoo International Airport development project to JMC PROJECTS (INDIA) Ltd. for USD136,625,386.44 In a press release by the ministry earlier today… Continued

Lowering Personal Income Tax threshold can increase collections by fivefold: World Bank

August 10, 2022, 08:37

Washington, US – World Bank has revealed that lowering the tax bracket for Personal Income Tax (PIT) in Maldives can increase the national PIT collections by fivefold. “Maldives Public Expenditure Review… Continued

Maldives high public spending has not translated into faster economic growth: World Bank

August 9, 2022, 15:54

Washington, US - World Bank has stated that higher public spending of the Maldivian government in the recent years has not translated into faster economic growth of the country. “Maldives… Continued

MTCC launches RTL minibus service in Addu City with free trips for two weeks

July 31, 2022, 19:23

Addu City, Maldives - Maldives Transport and Contracting Company (MTCC) expanded the Raajje Transport Link (RTL) to the southernmost Addu City with the launch of the minibus service. The RTL… Continued

Maldives to receive over 12,000 MT of wheat flour from India despite export ban

July 31, 2022, 18:35

Malé, Maldives - The Government of India has made exemptions to allow 7,460 MT of sugar and 12،722 of wheat flour to be delivered to the Maldives despite the export… Continued