Transport Minister Mohamed Ameen states measures will be implemented to ensure 100 percent of the revenue earned from handling private jets arriving in the Maldives goes to companies with local shareholders. Speaking at a press conference held at the President’s Office on Tuesday, Minister Ameen underscored that Maldives sees the arrival of a large number […]
Read MoreThe Ministry of Economic Development and Trade on Monday revealed that under the Maldives-Turkey Preferential Trade Agreement (PTA), Turkey will extend zero-duty on exports for 39 key products that previously faced tariffs up to 60 percent. The Maldives signed on the agreement with Turkey on Monday, with the Economic Ministry sharing details about the PTA. […]
Read MoreIncreasing arrivals highlight the Maldives’ appeal as top global travel destination backed by sustainable tourism efforts The Maldives, often picture-perfect with its stunning beaches and luxury resorts, is witnessing remarkable growth in its tourism sector, which is becoming increasingly instrumental to the nation’s economy. Recent reports indicate significant influxes of visitors from key markets such […]
Read MoreFinance Minister Moosa Zameer on Thursday presented a projected state budget of MVR 56.6 billion for next year. The total budget for this year is MVR 55 billion, with the MVR 5.1 billion supplementary budget approved earlier this week. This means next year’s projected budget is higher than this year’s by MVR 1.6 billion. The […]
Read MoreThe Maldivian government is set to propose a state budget exceeding MVR 60 billion for next year – marking the biggest budget in the country’s history. The Parliament had originally passed a budget of MVR 49.8 billion for this year. But on Tuesday, the legislative assembly approved a supplementary budget of MVR 5.1 billion – […]
Read MoreThe Maldives, in a historic first, will be contending in the Miss Universe. Hailed as one of the ‘Big Four beauty pageants’ of the world, the Miss Universe one of the most sought-after global beauty pageant events. Maldives is receiving its first-ever representation at the global pageantry by 21-year-old local model Mariyam Shaina Naseem. This […]
Read MoreA parliamentary committee on Monday passed a supplementary budget of MVR 5.1 billion proposed by the government, without any changes. The MVR 5,119,508,129 supplementary budget was presented to the Parliament on Thursday. It will supplement the MVR 49.8 billion budget approved for the year, thereby increasing the 2024 budget to MVR 55 billion. The budget […]
Read MoreBank of Maldives (BML) has announced the sale of three islands in Laamu Atoll belonging to former deputy parliament speaker Moosa Manik (Reeko)’s company, Heavy Load Maldives Private Limited, developed as resorts following the company’s failure to repay a loan withdrawn from the Bank. The three islands announced for sale are: Fares Kuda Fares Boduhuraa […]
Read MoreThe Maafaru International Airport in N. Atoll has reopened for international operations after it was suspended for a project to expand the airport’s runway. Opened in 2019, the Maafaru Airport is surrounded by multiple luxury resorts. The next year, the airport expanded its operations and began welcoming international flights. But international operations were suspended in […]
Read MoreMaldives Finance Minister Moosa Zameer has submitted a supplementary budget of MVR 5.1 billion to the Parliament for approval. The new budget seeks to supplement the MVR 49.8 billion state budget for 2024 that was passed by the Parliament last year. The Finance Ministry said that it decided to submit the supplementary budget not because […]
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