News In Brief
May 16 & May 17

Gulhifalhu plots, Moody's rating and broadcasting regulator

News in brief from Friday and Saturday, May 16 and 17.

The Gulhifalhu land use plan was changed to accommodate all land plots awarded under the previous government's Binveriya scheme within the currently reclaimed area, the housing minister announced. The reallocation of plots from land that has yet to be reclaimed from the lagoon would expedite the process of handing over registries, he said.

Moody's maintained the Caa2 credit rating for the Maldives after a periodic review, citing depleted foreign currency reserves and "limited financing options in light of upcoming external debt maturities."

A Broadcasting Commission member joined the ruling PNC. Former MP Mohamed Abdulla signed a declaration to “do his best to follow the party principles, in line with the policies of Dr Mohamed Muizzu.” The MBC, a seven-member regulatory body, is an independent institution, but the law does not prevent members from joining political parties.

The Employment Tribunal rejected a claim by the former British CEO of the Development Bank of Maldives seeking unpaid salary and allowances.

The Met office warned of heavy rain and thunderstorms across the country over the next three days with the active southwest monsoon expected to become stronger.

Customs collected MVR 379 million (US$ 24.5 million) as revenue in April as imports increased compared to March. The value of exports increased by MVR 88 million.

STO shareholders approved a dividend of MVR 80 per share with a profit of MVR 741 million in 2024, down from MVR 812 million in 2023.

A Saudi Arabian delegation arrived to oversee the implementation of the Makkah Road Initiative, which streamlines Hajj pilgrimage travel arrangements and allows Maldivian pilgrims to complete immigration procedures for entry into Saudi Arabia at the Velana International Airport.

The housing crisis and financial constraints are the two main factors behind the declining fertility rate, an MNU study with nearly 500 women found.

The JSC opened applications for new Supreme Court justices after the controversial impeachment of justices Mahaz and Azmiralda.

Discussion

No comments yet. Be the first to share your thoughts!

No comments yet. Be the first to join the conversation!

Join the Conversation

Sign in to share your thoughts under an alias and take part in the discussion. Independent journalism thrives on open, respectful debate — your voice matters.

Support independent journalism