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The latest headlines, context, and expert insights from our business desk.
The Hidea Outboard Model, a Chinese brand that has been established since 2008, has finally made its way to the Maldives in 2025. The outboard engine was showcased and unveiled at an exclusive launch event on 24 July at Quick Ezy Marine Showroom. The Hidea brand is an outboard engine suitable for...
Prime Minister Narendra Modi’s eagerly awaited state visit to the Maldives on July 25–26, 2025, represents a key turning point in bilateral relations, as both countries initiate an ambitious agenda for economic and sustainable development. Central to the talks are discussions regarding a Free Trade...
Bank of Maldives (BML) has recently opened a branch in Dhuvaafaru. This marks a milestone in their tenure as an active bank, as this is their 40th branch open in the Maldives. BML Chairman Ahmed Ali Habeeb, Deputy CEO and Chief Operating Officer Saha Waheed, and Minister of Construction, Housing,...
His Excellency President Dr Mohamed Muizzu attended the Maldives–UK Business Forum held in London this evening. This is the eighth edition of the global series organised by the Ministry of Economic Development and Trade. The forum brought together representatives from the United Kingdom’s...
Trans Maldivian Airways (TMA) has reversed a recent decision to partially pay employee salaries in Maldivian Rufiyaa, following pushback from pilots who had planned to suspend operations later this month. A TMA pilot confirmed that the company has rescinded a circular issued last month and will...
Employees of Trans Maldivian Airways (TMA) held a meeting at Waters Edge Rooftop in Hulhumale’ last night to discuss ongoing frustrations over the recent salary revisions implemented by the newly formed Foreign Currency Act. The tensions began with the birth of the Foreign Currency Act earlier...
In anticipation of the opening of the new terminal at Velana International Airport (VIA) on July 26, staff members have undergone training to operate passenger boarding bridges—marking a first for the Maldives. According to Maldives Airports Company Limited (MACL), this training is a critical part...
The Bank of Maldives (BML) reported a profit of MVR 497 million in the first quarter of this year. According to BML's quarterly financial update, the bank's operational profits amounted to MVR 698 million. During this period, the bank earned MVR 1.3 billion in revenue, which is about MVR 100...
MTCC has secured a contract to construct a new immigration office in Uligan, located in the Haa Alifu Atoll, to enhance immigration services in the region. The contract was formally signed today by MTCC’s Managing Director, Ahmed Saudhee, and the Immigration Controller, Ahmed Faseeh. Currently,...
STO has announced a decrease in petrol prices starting today March 23, 2025. The company explained that the reduction is a result of the lower fuel prices in the global market. As a result, the price per litre has been reduced by MVR 0.48, bringing the new cost to MVR 13.50 per litre. The...
The Maldives Islamic Bank (MIB) Board of Directors has proposed distributing MVR 103 million in share profits at the upcoming Annual General Meeting (AGM). This proposal suggests a payment of MVR 4.58 per share, reflecting a 58% increase from 2023. The distribution plan includes a 50% cash dividend...
The President has issued Presidential Decree No. 6/2025, effecting amendments to Presidential Decree No. 6/2024, which governs projects eligible for cross-subsidy investment and establishes the minimum investment thresholds applicable thereto. The Decree has been issued pursuant to Law No. 2/99...