MoU signed with China for transactions in local currency for imports
The government of Maldives has signed a Memorandum of Understanding (MoU) with the People’s Bank of China (PBOC) which establishes the framework for the settlement of current account transactions and direct investment in local currencies. With Maldives facing a shortage of US Dollars, the current administration is undertaking efforts to execute such agreements with friendly […]
Read MoreMaldives President instructs to implement price control on medicine to combat Aasandha waste
Maldives President Dr. Mohamed Muizzu, on Wednesday, has instructed to take measures to combat the sale of medicine at a huge profit to the price in order to bring a stop to wasteful expenses by Aasandha. The President announced that he issued the instructions via a post on X on Wednesday night in which he […]
Read MoreUS’s focus on secure Maldives with sustainable economy, climate resilience: US Ambassador
United States is focused on a secure Maldives that is economically stable and climate change resilient, said the US Ambassador to the Maldives Hugo Yen. Yen made the remarks at the special ceremony held at JEN Maldives Male’ by Shangri-La on Sunday evening to commemorate the US Embassy’s anniversary. “..what are we focused on? A […]
Read MoreMaldives President urge stricter measures to curb speeding
Maldives President Dr. Mohamed Muizzu has called all relevant state bodies to initiate legal reforms aimed at introducing stricter measures against speeding and illegal racing. President Muizzu’s urgence comes following the deadly accident in Hulhumale’ that claimed the life of a 23-year-old local man, Hussain Samah. In a message of condolence shared on X, President […]
Read MoreMaldives loses USD 500 million yearly as remittance
Expatriate workers in the Maldives send USD 500 million abroad yearly as remittance, says Economic Minister Mohamed Saeed. In an appearance on the Public Service Media (PSM)’s ‘Raajje Miadhu’ program on Tuesday evening, Saeed said that the high remittance isn’t a new problem, but a longstanding one that the Maldives has been facing for years. […]
Read MoreMaldives Agricultural Economic Zone’s practical work to begin later this year
The practical work of developing the Agricultural Economic Zone will start later this year, Economc Minister Mohamed Saeed has said. The zone, to be developed in Uthuru Thila Falhu, is part of a $250 million project awarded to China’s Harbor Engineering Company Limited. Speaking to reporters at a press conference held at the President’s Office, […]
Read MoreMuijju announced the punishment against the conspirators to overthrow the government
Maldivian President Mohamed Mooijju has accused the opposition of attempting a ‘financial coup’. At the same time, he announced to bring to justice all those who are behind the conspiracy to topple the government. Citing the local media of Maldives, The Indian Express reported that last week, the Central Bank of Maldives (BML) announced the […]
Read MoreMaldives Foreign Minister concludes official visit to Saudi Arabia
Maldives Foreign Minister Moosa Zameer has concluded his official visit to Saudi Arabia. As per the Foreign Ministry, the visit was aimed at strengthening existing bilateral relations between the Maldives and Saudi Arabia. During the visit, Minister Zameer met his Saudi Arabian counterpart, Foreign Minister, Prince Faisal bin Farhan Al-Saud. During the meeting, Minister Zameer […]
Read MoreMaldives committed to support China’s efforts to maintain global peace
Parliament Speaker Abdul Raheem Abdulla has reaffirmed Maldives’ commitment to supporting China’s efforts to maintain global peace and promote sustainable development. The Speaker, on Tuesday, attended the commemoration of the 40th anniversary of the National People’s Congress’s (NPC) affiliation to the Inter-Parliamentary Union (IPU) and the opening ceremony of the Interregional Seminar on the Achievement […]
Read MoreMinister Faisal highlights investment opportunities at AHICE Maldives Hotel Investment Summit
Minister Faisal noted that the biggest benefit of investing in the Maldives is the country’s popularity and high demand among tourists. He added that the Maldives is one of the top markets in the region, and the timeframe for return on investments is relativel. Tourism Minister Ibrahim Faisal has stated that the government’s top priority […]
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