News In Brief
August 10

Electricity woes, WAMCO dues and forex licenses

News in brief from Sunday, August 10.

STELCO MD Fahmy

STELCO MD Fahmy

Frequent power outages in the Greater Malé area stem from STELCO filling tanks on a daily basis, clogging filters when oil particles do not have enough time to settle on the bottom, sources told Adhadhu. STO has been supplying fuel in limited quantities due to unpaid bills from STELCO, which itself is owed outstanding payments from government offices and the finance ministry.

The civil court ordered WAMCO to pay over MVR 4 million (US$ 259,400) owed to two private companies, including outstanding payments of MVR 3.48 million to Leo Stores and Supply and MVR 1.16 million for goods supplied by Salts and Sands.

The central bank issued 34 foreign exchange licenses, including 29 Tier 1 licenses to companies and five Tier 2 licenses to resort operators.

Chinese authorities worked with Maldivian counterparts to halt the GMCE cryptocurrency pyramid scheme involving Maldivians

Aik Haisham Hassan, 18, the unlicensed driver of a car involved in a high-speed chase in Hulhumalé was released with conditions at his remand hearing.

A Kuwaiti businessman’s Talal Al Jeri Humanitarian Foundation funded a mosque in Noonu Manadhoo. Khalifa Talal Al Jeri opened the mosque with a banquet hosted by residents in his honour. 

The President's Office cancelled an announcement seeking oval-shaped flower arrangements that do not wilt for three days

The tax authority collected MVR 3.39 billion in July, exceeding the forecast by 12.8 percent with a 15.4 percent increase compared to July 2024. Income tax accounted for 48.9 percent of tax revenue.

The new eyewear outlet in IGMH processed 700 pairs of glasses within 10 days.  

Schools reopened for the second term after a 16-day holiday. Under the current administration's plans to revert the beginning of the academic year from mid-year to January, schools will close on December 28. 

Nearly 80 percent of the country's 187 inhabited islands have sewerage systems and 60 percent have water supply, the environment ministry told a parliament committee reviewing amendments to the Water and Sewerage Act.

The housing ministry awarded registries for 843 land plots from Gulhifalhu under the Binveriyaa housing scheme.

The higher education ministry spent MVR 250 million on the free first degree scheme since 2024 with 5,568 graduates. A further MVR 350 million was spent on state-funded scholarships for 357 graduates and MVR 311 million was spent through the government student loan scheme for 964 graduates. 

The Velana International Airport served 4.1 million passengers within the first six months of 2025, up four percent from the previous year. The airport also processed 34,573 tonnes of cargo. 

MMA launched 15 post-graduate scholarships in Islamic finance, including five fully funded scholarships and 10 partially funded scholarships as part of its Tamweel FinLit Fest 2025 to promote financial literacy and Islamic financial awareness. 

A 23-year-old man was arrested for possession of alcohol and drugs from the SIFCO flats, a designated residential complex for soldiers and their families. The criminal court remanded the suspect for 15 days in custody, citing sufficient evidence to support the charges.

Thirteen prisons officers accused of smuggling drugs and mobile phones into the Maafushi jail remain under suspension, the Correctional Services confirmed. In June last year, 18 officers were arrested in the smuggling operation that generated MVR 73 million, only five of whom were charged. 

The Bank of Maldives and Mastercard launched a platform for tourism data for Visit Maldives. BML also announced the launch of the Maldives Digital Partnership Programme in collaboration with the NCIT and Mastercard. The five-year program aims to modernise digital infrastructure and expand access to secure, efficient digital services, BML said.

The environment ministry and Thailand’s climate change ministry declared Crossroads as a candidate for Other Effective Area-based Conservation Measures (OECM). OECMs are geographically defined areas, outside of formally protected areas, that are managed in ways that achieve positive and sustained long-term conservation outcomes for biodiversity.

HDC sued FAM over unpaid rent for a plot leased for developing a football academy. FAM asked parties using the plot currently to stop building additional structures or bringing changes to existing infrastructure. 

Family court judge Ibrahim Mahir applied for a vacancy on the High Court bench.

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