Business

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

BML reports Operating Profit of MVR 592 million in 2QFY2022

July 25, 2022, 14:54

Malé, Maldives - Bank of Maldives on Sunday reported an Operating Profit of MVR 592 in the second quarter of the year 2022. With good performance in all core business… Continued

Customs revenue jumps 44 percent in June 2022

July 25, 2022, 14:45

Malé, Maldives - Maldives Customs Service on Sunday revealed statistics indicating an increase of 44 percent in the customs revenue in June 2022. The revenue for June 2022 is recorded… Continued

Carlyle Group considers sale of Trans Maldivian Airways for USD 700 million

July 24, 2022, 15:13

United States - Bloomberg reports that a group of investors led by Carlyle Group Inc. is considering a sale of Trans Maldivian Airways, for a value ranging from USD 500… Continued

Government cancels Independence Day parade amid cost-cutting measures

July 24, 2022, 15:00

Malé, Maldives - The Government of Maldives on Sunday cancelled the Independence Day celebratory events as a cost-cutting measure. While massive celebrations were announced earlier for this years Independence Day… Continued

MIRA collects MVR 2.32 billion in revenue for June 2022, 74 percent higher than projections

July 8, 2022, 14:23

Malé, Maldives - Maldives Inland Revenue Authority (MIRA) announced on Thursday that the total revenue collected in June 2022 is at MBR 2.32 billion, a tremendous 95.1 percent higher value… Continued

MIRA alerts of Tax Clearance Report forgeries

July 6, 2022, 11:01

Malé, Maldives - Maldives Inland Revenue Authority (MIRA) on Tuesday alerted authorities as forgeries of Tax Clearance Reports are being used increasingly. A Tax Clearance Report confirming outstanding balances and… Continued

Govt to hike GST, TGST to 12 and 16 percent in 2023

July 6, 2022, 10:39

Malé, Maldives - Minister of Finance Ibrahim Ameer on Tuesday confirmed that the government has planned to increase Goods and Services Tax (GST) in 2023. The GST hike will result… Continued