Fuel prices slashed by STO
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
Business
India grants Maldives duty-free fish exports
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
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
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
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
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
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
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
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
Fiscal vulnerabilities in Maldives remain high: IMF
Malé, Maldives - The latest International Monetary Fund (IMF) report on the Maldives state that the fiscal and external vulnerabilities continue to increase for the island nation. IMF released this… Continued
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