Business & Tourism
Tourist arrivals grow in March despite dip in Chinese visitors
Tourist arrivals to the Maldives grew by 2.4 percent in March despite a continuing decline in the number of Chinese visitors. After falling 20 percent in February despite the Chinese New Year falling during the month, Chinese arrivals registered a 13.3 percent decline in March.
28 Apr 2016, 9:00 AM
March revenue falls 8.2% below forecasts
Maldives revenues fell 8.2 percent below forecasts in March because of non-payment of taxes and a drop in tourist arrivals, the Maldives Inland Revenue Authority has said.
14 Apr 2016, 9:00 AM
Maldives airport expansion to cost US$800m
President Abdulla Yameen unveiled Wednesday a US$800million plan to expand the Maldives’ main airport. The project, to be financed entirely by loans, was risky, but its returns would be transformational, he claimed.
08 Apr 2016, 9:00 AM
Tourist arrivals remain unchanged in February
Tourist arrivals to the Maldives remained unchanged in February with 120,639 arrivals, just a 0.1percent increase compared to the same period last year.
28 Mar 2016, 9:00 AM
Government cancels auction of protected islands in UNESCO biosphere reserve
The fisheries ministry is cancelling auctions of four protected islands in the Baa Atoll UNESCO biosphere reserve following a social media outcry.
20 Mar 2016, 9:00 AM
Abu Dhabi pledges US$40m loan for Maldives airport project
The Abu Dhabi Fund for Development has pledged a US$40million loan to develop the Maldives’ main airport, the finance ministry has said. The government is also in talks with the IDB to obtain an additional US$110million loan for the project.
17 Mar 2016, 9:00 AM
MP pledges to build US$5m hospital in northern island
An opposition MPhas pleged to spend US$5million on upgrading a healthpost to a hospital in the island of Fokaidhoo in northern Shaviyani Atoll.
16 Mar 2016, 9:00 AM
Maldives tax receipts soar in February
The tax authority reported an extraordinary increase of 66.1percent in February revenues, off the back of an increase in tourist arrivals in January. Total income reached MVR1.5billion (US$97million).
14 Mar 2016, 9:00 AM
Maldives brands ITB Berlin a success
Despite questions over safety for tourists, the Maldives-sponsored international tourism and trade fair ITB Berlin was a major success, Tourism Minister Moosa Zameer has said.
13 Mar 2016, 9:00 AM
Maldives introduces mobile number portability
Mobile phone users in the Maldives can now switch mobile phone supplier, but retain their existing numbers, the Communication Authority of Maldives has announced.
03 Mar 2016, 9:00 AM
Finance minister signs biggest ever property deals
Finance minister Abdulla Jihad signed off on two contracts worth a total of US$260million for the construction of an office complex and a new wing of the state-owned Indira Gandhi Memorial Hospital in Malé.
02 Mar 2016, 9:00 AM
National bank slashes interest rates on some loans
The Bank of Maldives has announced plans to slash interest rates on housing and personal loans and has launched a new loan scheme to encourage investment in green technologies.
01 Mar 2016, 9:00 AM
MDP questions sudden surge in foreign reserves
The main opposition Maldivian Democratic Party has called for an inquiry into the sudden hike in Maldives’ foreign reserves. The source of some US$400million is unknown, the party said in a report issued on Monday.
01 Mar 2016, 9:00 AM
Hilton wins US$24million damages from MP Sun Siyam
Ruling coalition MP and tourism tycoon Ahmed Siyam’s Sun Travel and Tours has been ordered to pay US$24million in damages for the abrupt termination of a tourism contract with Hilton International, the Maldives Independent has learned.
28 Jan 2016, 9:00 AM
Maldives cuts electricity subsidies
Households across the country are facing higher electricity bills in March after the government revised tariff rates and decided to discontinue electricity subsidies next month.
26 Jan 2016, 9:00 AM
Resort worker sacked after staging a hunger strike over unpaid service charge
Abdul Hameed Moosa first went on strike on January 18 claiming Zitahli – owned by AAA Hotels and Resorts – had failed to pay service charge allowances for 12 months.
25 Jan 2016, 9:00 AM
Maldives hopeful of securing financing from Chinese-led bank
Speaking to reporters after returning from an official visit to China to attend the AIIB’s inaugural board of governors meeting in Beijing, Muiz said that the bank’s president, Jin Liquin, assured him of funding for infrastructure projects during an official meeting.
21 Jan 2016, 9:00 AM
Tourist arrivals reach 1.2m in 2015
Tourist arrivals grew by 2.4 percent in 2015, reaching a total of 1.2 million but falling short of the government’s target of 1.5 million visitors. Arrivals in December, the beginning of the Maldivian tourism industry’s peak season, also increased by 15 percent compared to the same period in 2014, according to statistics from the tourism ministry.
17 Jan 2016, 9:00 AM
Infrastructure projects could ‘transform’ economy, but poses risks
A visiting IMF mission said today that the “unprecedented scale up in public infrastructure” – including the expansion of the international airport and construction of the Malé-Hulhulé bridge – could boost tourism capacity and prove transformation “if implemented successfully, together with supportive education and employment policies”. But substantial external borrowing could add to “already elevated public debt.”
17 Jan 2016, 9:00 AM
Gasim’s Villa wins back all five resort properties seized during crisis
Jumhooree Party Leader Gasim Ibrahim’s Villa Company has won back all five properties seized by the government during a political crisis triggered by the JP’s split from the ruling coalition.
14 Jan 2016, 9:00 AM
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