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Business & Tourism

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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