Business

2021 budget underscores significant fiscal deterioration: Moody’s

November 17, 2020, 14:14

New York, U.S.A - International financial research and credit rating agency, Moody's Investors Service (Moody's) has said that the budget proposed by the Maldivian government underscored the significant fiscal deterioration… Continued

Not “selling” Dharumavantha, leasing under SPV beneficial ownership: Ameer

November 17, 2020, 11:30

Male’, Maldives –  Ministry of Finance has announced that they are not selling Dharumavantha Hospital building, but rather proceeding with a re-transfer of the beneficial ownership of the building to a… Continued

President Yameen calls to stop privatization of SOE’s

November 17, 2020, 10:30

Maafushi, Maldives - Former President Abdulla Yameen Abdul Gayoom has called out the current administration to stop auctioning off State Owned Enterprises (SOE's) under the false pretense of privatization. In… Continued

Dharumavantha to be mortgaged for USD 300 million bond

November 16, 2020, 21:25

Male’, Maldives – Maldives highest building Dharumavantha hospital is to be mortgaged for a bond of USD 300 million. Minister of Finance Ibrahim Ameer, in a now publicized letter to the… Continued

No agreement made to pay MVR 174 Million to Dheebaja: Government

November 16, 2020, 18:30

Male’, Maldives – The Government of Maldives has said today at Supreme Court that the payment to Dheebaja has not lowered to MVR 174 million through any agreement. In July, Auditor… Continued

BIG company accused of money laundering

November 16, 2020, 17:30

Male', Maldives - A report formulated by the Anti Corruptions Commission (ACC), regarding a money laundering case against Business Image Group (BIG) has been forwarded to the Judiciary Committee of… Continued

Maldivian’s aren’t fools, projects cannot be delivered: Nasheed

November 16, 2020, 16:30

Male’, Maldives - Speaker of Parliament, Former President Mohamed Nasheed has criticized the 2021 budget sent to the parliament by the government and told that the government should not take… Continued

Opposition calls to review 2021 budget and resubmit to parliament

November 16, 2020, 11:58

Male', Maldives - Maldivian Parliaments minority leader, Progressive Party of Maldives (PPM)'s parliamentary group leader, MP Ahmed Saleem (Redwave Saleem) has called to review the budget proposed by the government… Continued

Depending too much on one country for grants is risky: Auditor General’s Office

November 16, 2020, 10:29

Male', Maldives - Auditor General's Office has said that it is highly alarming that Maldives is leaning too much on one specific country for income from grants for developmental projects… Continued

Projects planned for 2021 not feasible over current economic situation: MMA Governor

November 15, 2020, 20:30

Male’, Maldives – Governor of Maldives Monetary Authority (MMA), Ali Hashim has said that the many ambitious projects included in the 2021 budget may not be completed due to the current state… Continued