Business

BML earns record Profit After Tax of MVR 1.7 billion in 2021

January 27, 2022, 14:08

Malé, Maldives - Bank of Maldives stated today that the bank has recorded its best-ever performance in 2021 with unaudited figures for the full year showing a record Profit After… Continued

Govt. postpones setting price ceiling for pharmaceutical drugs amid pushback

January 24, 2022, 15:19

Malé, Maldives – The implementation of a price ceiling or a maximum retail price (MRP) for pharmaceutical drugs have been postponed from January 1 to March 1, 2022. The new… Continued

Addu City Council passes MVR 220 million budget for 2022

January 10, 2022, 18:37

Addu City, Maldives - Addu City Council today passed a budget of MVR 220 million for the year 2022. The budget was passed unanimously at the Addu City Council meeting… Continued

EXIM Bank of India extends USD 34 million for Hulhumalé Social Housing Projects

December 18, 2021, 13:23

EXIM Bank of India has disbursed USD 34 million advance payment in connection with the Social Housing projects being executed under Buyers’ Credit  in Hulhumale’ Phase II. This marks commencement… Continued

EU grant scheme for Maldivian tourism sector SMEs commences today

December 15, 2021, 19:38

Malé, Maldives - The grant scheme for ‘EU Support for a Resilient Recovery of SME Tourism Industry in the Maldives’ commenced on Wednesday 15th December 2021. The application window for… Continued

Sole proprietorship registrations to be revoked for profiting non-Maldivians

December 6, 2021, 20:40

Malé, Maldives - President Ibrahim Mohamed Solih on Monday ratified the first amendment to the Sole Proprietorship Act (Act No. 19/2014). The amendment stipulates that the registration of sole proprietorships… Continued

Finance Ministry launches “Beelan Portal” for public procurement

December 6, 2021, 20:12

Malé, Maldives - The Ministry of Finance, today, launched government procurement portal, “Beelan Portal.” The Beelan Portal provides information regarding new projects introduced by the government and provides opportunity to… Continued

Finance Ministry seeks to extend overdraw period

November 16, 2021, 19:14

Malé, Maldives – The Finance Ministry today requested the Maldives Parliament to extend the overdraw period by an additional year. The parliament has previously granted overdraw approvals in 2020 and… Continued

MP Shareef cautions the state against accumulated govt. debt

November 8, 2021, 15:43

Malé, Maldives - The MP for Maradhoo Constituency Ibrahim Shareef has warned the government of increasing annual government debt, urging the state to consider inflation and the ability to acquire… Continued

Maldives announces minimum wage for Maldivians

November 8, 2021, 11:46

Malé, Maldives – The Maldives Ministers of Economic Development Fayyaz Ismail Fayyaz Ismail today declared minimum wages with wages set below the figures proposed by the Wage Advisory Board for… Continued