Business & Tourism

Maafaru Airport a “gift” from UAE, says president

A contract to build the airport has not yet been awarded as bids are still being evaluated and work has not started on it.

Chinese arrivals buck downward trend in November

The number of Chinese holidaymakers visiting the Maldives increased in November for the first time in three years.

Loans and hospital blamed for depleted reserve

A 23 percent decrease in the usable reserves compared to June 2017 reflected “the increase in loan repayments and payments related to construction of the Dharumavantha Hospital,” the central bank explained.

Maldives Investment Forum underway in Dubai

The fourth annual Maldives Investment Forum was inaugurated Monday morning by Vice President Abdulla Jihad and UAE Economic Minister Sultan bin Saeed Al-Mansoori.

Bank of Maldives to host Asian banking conference

The Bank of Maldives will host a regional banking conference late next year with 80 leading institutions from 25 Asian countries due to take part.

India breaks silence on China-Maldives FTA

The Maldives first FTA was rushed through parliament last month, but the government says it will open up the world’s largest consumer market for tariff-free fish exports. The Maldives also committed to waive import duties for Chinese goods.

Maldivian tour operators authorised to work in China

The Maldives will also open up the lucrative tourism service sector to Chinese investors as part of the landmark free trade agreement signed last week.

High Court backs reinstatement of sacked Conrad Rangali staff

The High Court on Wednesday upheld an Employment Tribunal order for the reinstatement of 22 employees sacked from the Conrad Maldives Rangali Resort in June 2011.

China tells India to calm down after Maldives trade deal

The Global Times said China remained the largest source of tourists for the Maldives and that there was no “political intrigue” to the Free Trade Agreement.

President Yameen to make first state visit to China

The trip takes place from December 6 until December 9 and is at the invitation of President Xi Jinping.

Maldives downgraded to ‘fragile state’ by IMF

China-Maldives free trade deal rushed through parliament

The Maldives’ first bilateral free trade agreement – which commits both nations to reduce tariffs on most imported goods to zero – was rushed through hours after President Abdulla Yameen sought approval for ratification.

Sri Lankan fishing boats seized

A ministry report published in October said hundreds of foreign fishing vessels were operating illegally in Maldivian seas every year.

Maldivian Airlines issues non-apology for seaplane crash

Holidaymakers had sat through two aborted take-offs before being lobbed into the ocean on the third attempt, The Sun reported, and were left bobbing in the water after their seaplane crashed.

Tourist arrivals surpass one-million mark

The government hopes to welcome 1.5 million tourists in 2017, despite missing the same target during the past two years. After reaching a record 1.3 million in 2016, arrivals have grown by six percent as of October compared to the same period last year.

Record budget passed after opposition boycott

The record-high budget was passed with 39 votes in favour exclusively from ruling coalition lawmakers in the 85-member house.

Record MVR28bn budget proposed for 2018

Finance Minister Ahmed Munawar submitted for parliamentary approval a record MVR27.9 billion (US$1.8 billion) budget for 2018.

Coconuts or progress? President’s question for Kulhudhuffushi

PPM supporters, heads of state-owned firms and senior government officials have been flocking to the northern island for the inauguration of an airport project and the party’s annual meeting.

Controversial airport project inaugurated despite lack of contractor

The lack of a contractor to build the airport has raised concerns among some islanders that the project is a vote-winning stunt ahead of next year’s election.

Airport plans leave Kulhudhuffushi families in the dark over relocation

Families to be relocated because of the airport’s construction say they have received no information about moving or compensation.