Business

MSS to begin direct cargo service between Maldives – Malaysia & Singapore in July 2022

May 26, 2022, 12:28

Malé, Maldives - Maldives State Shipping has announced the opening of a new direct cargo route between the Maldives and Malaysia, Singapore starting July 2022. The service is set to… Continued

Government retracts amendment to reduce resort rent

May 26, 2022, 12:16

Malé, Maldives - The Economic Council on Wednesday retracted the amendment to the Tourism Act proposing to reduce resort rent. The government states that the decision to reduce resort rent… Continued

Maldives not at risk of default: Finance Minister

May 25, 2022, 18:57

Malé, Maldives - Minister of Finance Ibrahim Ameer on Wednesday stated that the Maldives has no in debt servicing and is not at risk of default. The Finance Minister has… Continued

MIRA discloses 13 resorts in its “Name and Shame” list for failure to pay rent

May 25, 2022, 15:06

Malé, Maldives - Maldives Inland Revenue Authority (MIRA) on Tuesday began to disclose the names of non-filers and non-payers under its Name and Shame Policy. This is the first time… Continued

Maldives at risk of reserve depletion by end of 2023

May 25, 2022, 12:17

United Kingdom - U.S. investment bank JPMorgan on Tuesday warned that the Maldives is at risk of reserve depletion by the end of 2023, signalling high default risks. Emerging markets… Continued

MMA Governor warns against lowering resort tax

May 23, 2022, 19:17

Malé, Maldives - Governor of Maldives Monetary Authority (MMA), Ali Hashim on Monday warned against reducing the resort rent as per the proposed amendment to Maldives Tourism Act (Act No.… Continued

BML adds digital wallet to mobile app enabling seamless payment without physical cards

May 23, 2022, 15:25

Malé, Maldives - Bank of Maldives today announced the launch of BML Pay wallet on its Mobile Banking app. With the upgrade, contactless payment services and wallet-to-wallet transfer services are… Continued

MFDA releases advisory amid increasing rotten egg sales

May 23, 2022, 15:13

Malé, Maldives - Maldives Food and Drug Authority (MFDA) on Monday ordered businesses to control egg storage and display expiry dates on eggs. MFDA made this decision amid increasing complaints… Continued

Contractor prequalification commences for Addu airport development project

May 21, 2022, 14:29

Malé, Maldives - EXIM Bank of India on Sunday began the contractor prequalification process to develop Addu City's Gan International Airport. The airport capacity is expected to expand to cater… Continued

Prices soar with suspension of Addu-Tuticorin cargo ferry service

May 18, 2022, 14:06

Malé, Maldives - Product prices soar in Addu City with the suspension of the Addu-Tuticorin cargo ferry service. Maldives State Shipping (MSS) stated that the cargo service was discontinued due… Continued