Business

Government of Maldives and India’s Afcons Infrastructure Limited sign Thilafushi bridge agreement

August 26, 2021, 14:08

Malé, Maldives - The government of Maldives and Afcons Infrastructure Limited, today, signed the agreement regarding the Greater Malé Connectivity Project, that connects capital city Malé and industrial island Thilafushi.… Continued

Business Visa requests accepted from Economic Ministry portal

August 26, 2021, 11:09

Male', Maldives - A regulatory reform update has been made to request for Business Visa's at the Economic Ministry portal from August 25, 2021 onwards. The regulations gazetted by the… Continued

Govt. liquidates 9 State-owned companies including Felivaru, Koodoo Fisheries

August 26, 2021, 09:45

Male', Maldives - Finance Ministry of Maldives revealed this Wednesday that there are currently nine state-owned companies assigned for liquidation. The latest list released by the Finance Ministry shows nine… Continued

State expenditure to exceed income in 2022

August 25, 2021, 10:06

Male', Maldives - Finance Ministry of Maldives has anticipated the State to receive MVR 23.7 billion as income in the upcoming year. While the Finance Ministry forecasts an income of… Continued

Immigration implements changes to halt fake bookings

August 19, 2021, 22:00

Male', Maldives - Immigration Controller Mohamed Ahmed Hussain (Hanafee) stated on Wednesday that changes were brought to Maldives’ immigration system, in lieu of rising numbers of tourists left stranded due… Continued

Moody’s downgrades the credit rating of Maldives

August 19, 2021, 10:12

Male', Maldives - Moody's Investors Service (Moody's), this Tuesday downgraded the Government of Maldives long-term local and foreign currency issuer and long-term foreign currency senior unsecured ratings to Caa1 from B3,… Continued

Schools were not used as Ijarah to borrow money: Finance Ministry

August 16, 2021, 16:32

Male’, Maldives – Finance Ministry stated that the government has so far not taken any debt by using schools as Ijarah asset and that any statement saying otherwise is untrue.… Continued

Maldives government uses 10 schools as assets to sell Sukuk bonds

August 16, 2021, 15:44

Male', Maldives - Spokesperson of President's Office, Mabrook Azeez stated that the government is using government schools in the capital Male' city as assets to sell Sukuk bonds. The statement… Continued

Auditor General orders to reclaim over MVR 400,000 issued as income support allowance

August 14, 2021, 14:50

Malé, Maldives - Auditor General of Maldives Hussain Niyazy has demanded to reclaim over MVR 400,000 issues as income support allowance to ineligible individuals. According to the audit report by… Continued

Dollar rate drops to MVR 17.80 amid tourism sector tax payments

August 11, 2021, 11:31

Male', Maldives - Dollar exchange rate in Maldives decreases by a great extend to MVR 17.80 due to exchanging dollars for tax payment in the tourism sector. While Maldives is… Continued