Business

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

Fiscal vulnerabilities in Maldives remain high: IMF

July 27, 2022, 15:46

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

President announces restrictions on fuel subsidies

July 26, 2022, 18:13

Malé, Maldives - President Ibrahim Mohamed Solih on Tuesday announced restrictions to fuel subsidies provided by the government. President Solih stated that the government is in the process of amending… Continued

LGA launches inquiry against Dhuvaafaru Council for embezzling over MVR 2 million

July 26, 2022, 14:42

Malé, Maldives - Local Government Authority (LGA) on Tuesday urged the authorities to investigate Dhuvaafaru Local Council and Women's Development Committee for embezzling over MVR 2 million. LGA further stated… Continued

Government sells t-bills worth MVR 1.2 billion to offset state expenditure

July 26, 2022, 13:50

Malé, Maldives - The Government of Maldives on Thursday announced the sale of treasury bills valued at MVR 1.21 billion to be settled by 1 August 2022. The Government invited… Continued