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The SME Development Finance Corporation (SDFC) on Sunday introduced a new soft loan initiative tailored for content creators involved in different social media endeavors. This program honors a commitment made by President Dr. Mohamed Muizzu to offer financial support to the country's content...
On Monday, Mohamed Saeed, the Minister of Economic Development & Trade, convened with social media content creators and media experts to gather their views on the loan for content creators. On Sunday, President Dr. Mohamed Muizzu announced that the technical preparations for initiating a soft loan...
President Dr. Mohamed Muizzu and Nepali Prime Minister KP Sharma Oli have committed to enhancing collaboration between the Maldives and Nepal, emphasizing education, economic diversification, and regional involvement. The pledge was made during a meeting that took place on the margins of the...
The Maldives Inland Revenue Authority (MIRA) has presented a case to the Prosecutor General's Office (PG Office) seeking an inquiry and prosecution of Hope Holdings, which provides launch ferry services to islands in Shaviyani and Noonu Atolls under the name "Hope Travels," over allegations of...
The enforcement order of the unpaid MVR 1.1 million rent tied to Newport View Restaurant grounds against Strada Private Limited was canceled by the Civil Court upon request from the state. Strada was given the waterfront plot in September 2016 under an agreement with the Housing Ministry. They...
The Maldives Hajj Corporation plans to move forward with building a city hotel in Maafushi, despite Finance Minister Moosa Zameer’s wariness regarding the corporation’s investment in the guesthouse business. The hotel initiative will be executed by Maafushi Islamic Tourism Pvt Ltd (MIT), a branch...
Last week, police documented 41 scam incidents that led to a combined loss exceeding MVR 372,000. The specifics of these events were disclosed on Wednesday night. Police statistics indicate that merely MVR 163,996 from frauds documented last month has been retrieved, which accounts for 37.8...
On Tuesday, Manta Air explained that a legal change forced them to revise their salary policy, with 50% of employee salaries now being paid in Maldivian Rufiyaa and the other 50% in US dollars. The airline used to pay all salaries entirely in US dollars. A press statement released by the airline...
In a crucial effort to address a significant national concern, President Dr. Mohamed Muizzu has revealed a groundbreaking MVR 1 billion housing initiative scheduled to begin next year, underscoring his administration’s dedication to providing affordable housing options for every Maldivian. During...
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...
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...