The Maldives has around 600 guesthouses across 76 islands, whereas in 2010 there was just one guesthouse.
The majority of GST collected - 68 percent - was from the tourism sector which represents a 17.4 percent increase from last year.
The Maldives Monetary Authority said US$66.8 million dollars was wired as foreign remittance in 2017, with 46 percent of it going to Bangladesh and most of...
A study from a US think-tank said that Chinese lending in particular was putting the Maldives at risk of debt distress.
Mega Maldives voluntarily liquidated in February after shutting down operations last May as they could not secure an investor to restart them. It had served as...
The bank said its operating profit was up 11 percent compared to the same period last year.
Villa Group's bank accounts were unfrozen on Wednesday, having been frozen, unfrozen then frozen again in recent years.
Villa Group has experienced several setbacks since the Jumhooree Party split with the ruling coalition and allied itself with the opposition.
The ruling could lead to the unfreezing of Villa’s assets and accounts and is some good news for the group, which has experienced several setbacks in...
According to statistics, 133,466 tourists visited the Maldives during March 2018.
The loan scheme offers sums of up to MVR500,000 for individuals, and of up to MVR1.5 million for partnerships fully owned by Maldivians.
Germany’s ambassador to the Maldives said the economy was suffering because of the volatile political situation and ordinary people were bearing the brunt.
The state-owned infrastructure developer meanwhile posted a net profit of MVR145 million (US$8.5 million) in 2017.
Boats which had queued on Sunday evening were still in line at dawn on Monday, with ten boats waiting to weigh their haul from the previous...
Dockworkers at the Malé port staged a short-lived strike and doubled their fees when a ban on daytime goods delivery came into force on April 1.
Tax revenue of MVR1.5 billion (US$97 million) collected in March was 23 percent higher than forecast and 16 percent higher than the same period last year.
Despite threats, dockworkers at the Malé commercial harbour continued to charge higher fees to clear out cargo at night after a ban on day-time delivery of...