The state-owned Maldives Airports Company Ltd, operator of the Velana International Airport, launched an apprenticeship programme with 75 participants, offering training to “non-academic and technical staff in order to help them advance in their careers and give them a chance to get a level 3 certificate.” The initiative is part of a national apprenticeship programme by the government to facilitate employment opportunities for youth.
The Maldives Ports Ltd concluded its first ever internship programme, which was “aimed at providing secondary school students, information about the careers and opportunities available” at the ports authority. Education Minister Dr Aishath Ali handed completion certificates at a closing ceremony at the Meeruma Lounge.
Ooredoo Maldives’ board of directors recommended a dividend of MVR 3.04 per share for 2022.
Ooredoo earned a Profit after Tax of MVR560 million (US$36 million) last year.
“The recommended 2022 Dividend and the Audited Financial Statements of the Company for 2022 will be proposed for the approval of the Shareholders during the Annual General Meeting (“AGM”) to be held in March 2023. If approved by the Shareholders, we will commence distribution of the 2022 Dividend in March 2023,” according to the telco.
The Maldives Tourism Development Corporation posted a profit of US$2.9 million for 2022, down significantly from US$10.2 million in 2021. While revenue was higher in 2022, cost of operations grew by 25% compared to the previous year.
The government-owned company paid dividends in 2021 for the first time in 11 years as profits rose more than 300% from the previous year. Its main income source is rent from subleased resorts, including Anantara Kihavah and Ayada Maldives.
A five-star resort under development on Naagoshi island in Haa Dhaal Atoll was reported to be 40% complete.
The Housing Development Corporation announced the sale of land from Thilafushi for industrial purposes. HDC – the state-owned developer of the manmade islands Hulhumalé, Gulhifalhu and Thilafushi near the capital Malé – invited expressions of interest with a minimum price of MVR1,700 (US$100) per square feet. If the bid winner is a foreign party, the plot of land would be leased for 99 years.
The Bank of Maldives lifted controls imposed on issuing US dollars due to the Covid-19 pandemic, which limited withdrawals to US$2,000 a month.
With effect on 1 February, customers will be able to withdraw up to US$1,600 a day from ATMs in Malé, Hulhumalé and the Velana International Airport.
“Furthermore, customers with debit cards linked to a USD account as a primary account can continue to use cards for foreign transactions up to USD 3,000 daily. International Money Transfers through Internet or Mobile Banking can also be processed from USD accounts,” according to BML.
The Bank of Maldives reduced the financing rate of its student and education loans to 5%.
The repayment period will be reduced for existing customers, who will have the option to pay a lower monthly instalment.
Offered with a 10-year repayment period, the BML Kiyavaa Loan and Education Financing covers 75% of the cost of higher education, including tuition fees and living costs.
Dhiraagu is the fastest mobile network in the Maldives, according to the annual Speedtest Awards by Oakla.
“This global recognition is a testament to the continued, consistent efforts of the company over its three decades of service to ensure excellent service to their customers and enable them to ‘take on tomorrow’ in the digital future,” said Dhiraagu.
The Bank of Maldives earned a net profit after tax of MVR1.48 billion (US$96 million) in 2022, according to the bank’s fourth quarter report.
“Underlying Profit After Tax was higher than the previous year. Total Assets for the year grew by almost MVR 3 billion while customer deposits grew by MVR 1.8 billion. The Bank recorded MVR 4.3 billion in new loans to businesses and individuals in 2022, with continued improvement in the loan book quality. Capital and liquidity ratios remain solid and well above regulatory requirements,” the report stated.
The eTukuri online shopping platform of the Maldives Post announced a promotion with local seller Care Plus, offering a 10 serum bottle gift pack.
To be eligible, customers must follow eTukuri on Instagram, share the promotion post in a story with the eTukuri account tagged, and then comment and tag three friends. Private accounts can send a message with a screenshot.
“Every comment with three tags counts as one entry so multiple entries increase your chance of winning,” the post office noted.
The eTukuri service allows registered users to order from international sellers such as Amazon or Apple in America.
Royal Boskalis Westminster MV was awarded a US$130 million contract for the second phase of the Gulhifalhu land reclamation project. The Dutch dredging company completed the first phase of the project last year.
The government plans to relocate the international port from Malé to the new artificial island. A bridge to connect the capital to Gulhifalhu and the industrial island of Thilafushi is under construction.
Sonee Hardware opened a new outlet called ‘Sonee Wholesale’ to serve smaller retailers and construction companies. The store is located in Malé’s northern waterfront in the Maafannu Shine Tree building.
