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Business & Tourism

Ooredoo marks ten years in the Maldives

Telecomms provider Ooredoo launched today a campaign with free data and minutes for its customers to mark ten years of service in the Maldives.

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Lawyer shortlisted for Get Set loan scheme by mistake

High profile lawyer Maumoon Hameed has been shortlisted in the government’s flagship ‘Get Set’ youth entrepreneurship loan scheme despite never having submitted an application.

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Tourist arrivals decline in June

Tourist arrivals in June declined by -2.2 percent in June compared to the same period in 2014, but registered a marginal growth of 1.3 percent in the first half of 2015 compared to last year.

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Bangladesh seeks stronger trade ties with Maldives

Seeking stronger trade relations with the Maldives, the Bangladeshi foreign ministry has requested the removal of trade barriers and suggested the opening of direct shipping links between Bangladesh and the Maldives.

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President Yameen seeks joint venture investments from Saudi Arabia

President Abdulla Yameen briefed a visiting delegation from Saudi Arabia this morning on investment opportunities in the Maldives and invited joint venture investments from the kingdom. The Saudi officials were among several dignitaries who arrived in the Maldives this week to attend an official function held last night to celebrate the golden jubilee of independence.

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Foreign freeholds will not threaten Indian Ocean security, assures President Yameen

After ratifying the second amendment to the constitution today, President Yameen sought to allay fears over foreign ownership of land in the Maldives, assuring the public that freeholds will not threat Indian Ocean security or lead to “enslavement” and scarcity of land.

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Second amendment on foreign land ownership likely to pass

Some 64 MPs voted to consider the constitutional amendment and sent it to a special committee for review. Minority leader Ibrahim Mohamed Solih said the government must consider Indian Ocean security in awarding land to foreign parties. A final vote is expected on Wednesday afternoon.

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Constitutional amendment on foreign land ownership up for debate tonight

A parliamentary debate on amending the constitution to allow foreigners to own land in the Maldives will be up for debate at an extraordinary parliament sitting tonight, only hours after it was submitted to parliament.

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With Chinese grants and loans Malé-Hulhulé bridge inches closer to reality

The Malé-Hulhumalé bridge will cost an estimated US$300 million, finance minister Abdulla Jihad revealed today. In addition to US$100 million in grant aid, the Chinese government will also provide a US$170 million loan at a two percent interest rate.

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Cause of seaplane crash remains uncertain

The civil aviation authority is yet to determine what caused a Trans Maldivian Airways (TMA) seaplane to crash land near the Kuredhu Island Resort last week.

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Tax authority removes freeze on Villa Group accounts

The tax authority has removed a freeze on Jumhooree Party leader and tourism tycoon Gasim Ibrahim’s Villa Group accounts in yet another indication of a thaw in relations between the opposition and the government.

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Government revenue declines in May

Revenue collection declined in May due to a decrease in tourist arrivals and decline in revenue from Business Profit Tax. The government expenses rose due to spending on recurrent expenses.

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