The Maldives Ports Limited pushed back the reduction of an MVR10 (US$0.64) fee charged for vehicles to enter the Malé north harbour and southwest harbour, citing delays to services. The reduction of the fee to MVR5 on 1 March caused a traffic jam as vehicles were unable to enter the T-jetty.
MPL restored the old fee and deferred the tariff changes until arrangements could be made to ensure timely services.
The central bank indefinitely delayed the implementation of a value ceiling for cheques that was due to take effect on 1 April 2023, after which banks were to only process cheques up to MVR50,000 and US$3,000. The cap would apply to cheques issued by individuals, businesses and corporations.
The change was part of the central bank’s strategy to encourage digital transactions or electronic payments.
As part of an action plan worked out with banks, a fee was also due to be introduced in 2023 and the clearance period was to be increased to 10 days.
The number of cheques processed by banks has fallen 60% over the past five years from 1.86 million in 2017 to about 700,000 last year.
The Housing Development Corporation sold 17 plots of land for the government to build 4,000 social housing flats in Hulhumalé phase two.
It was sold for a total of MVR878 million (US$56 million) under an agreement with the Fahi Dhiriulhun Corporation to carry out housing projects.
The civil court transferred ownership of the plots to the finance ministry on Sunday.
The state-owned developer HDC owns the artificial island of Hulhumalé and is liable for loans taken to finance the dredging and reclamation.
The State Trading Organisation announced controlled prices for onions, potatoes and eggs ahead of Ramadan.
The price of onions was brought down to MVR9 (US$0.6) per kg from MVR14 per kg last year. Potatoes are also cheaper than last year at MVR11 per kg (down from MVR13). Eggs are sold for MVR1.75 each and MVR320 per case.
Every year, STO imports extra supplies to cater to soaring demand during the fasting month, which is expected to begin on 23 March. The first stock has now arrived and STO is prepared to ensure that prices remain stable, the state-owned wholesaler assured.
The national carrier Maldivian increased ticket prices on its domestic flights after the Regional Airports Company decided to raise ground handling fees by 10%.
The airfare between Malé and Kaadedhdhoo rose the highest by MVR180 (US$12) to MVR3,385 for a return trip. The Villa Group, which operates the Kaadedhdhoo airport in Gaaf Dhaal Atoll, increased its ground handling fee in January. The fee is charged from every flight for ramp services between landing and take-off.
Maldivian hiked ticket prices to other destinations by MVR70. The airline operates 16 domestic routes.
The second Maldives Yacht Rally set sail from Noonu Landhoo, journeying from the northern atoll to explore heritage sites on nine islands with stops at famous dive sites and sandbanks along the way.
Organised by the Maldives Integrated Tourism Development Corporation (MITDC) to “promote Maldivian culture and heritage, its rich history as well as nautical tourism,” the first edition of ‘Savaadheeththa Dhathuru’ took place last year to commemorate the golden jubilee of tourism.
“We are embarking on this journey with a total of 13 yachts registered in six different countries. Sailors of 13 different nationalities will be sailing in these 13 yachts,” MITDC managing director Mohamed Raaidh said at the opening ceremony in Landhoo. “And I am extremely pleased to announce that for the very first time, two vessels registered in the Maldives are also joining us in this rally.”
The tourists will have the chance to experience the island lifestyle and visit ancient shrines and coral stone mosques. Covering 169.62 nautical miles, the yachts will anchor at Lhaviyani Hinnavaru and Baa Goidhoo before heading to six islands in the central atolls of Alif Alif and Alif Dhaal (Alif Alif Thoddoo, Alif Alif Rasdhoo, Alif Alif Ukulhas, Alif Dhaal Dhangethi, Alif Dhaal Dhigurah and Alif Dhaal Maamigili). The tour is due to end with a gala night on Maamigili.
Ookla presented the ‘Maldives’ Fastest Mobile Network’ award to Dhiraagu at the Mobile World Congress 2023 held in Barcelona, Spain.
Dhiraagu was announced the winner of the 2022 Speedtest Awards by Ookla earlier this year.
“We are grateful to our customers for their continued loyalty and trust, and we remain committed to delivering them the best possible service to meet and exceed their expectations,” said Dhiraagu CEO Ismail Rasheed, who accepted the award on behalf of the telco.
The first State Internal Audit Conference 2023 was launched at the Dharubaaruge convention centre in Malé. Organised by the finance ministry, the two-day event featured speeches and panel discussions.
Keynote speakers included the president of the Anti-Corruption Commission, the chairman of the State Trading Organisation’s audit and risk committee, the CEO of the Maldives Ports Limited, the director of performance audits at the Auditor General’s office, and the finance ministry’s chief financial budget executive.
“The conference was held under the theme ‘Shifting the Mindset – Adding Value Through Internal Audit’, which emphasised the importance of internal audit in ensuring good governance and accountability,” according to the finance ministry. “It witnessed the launch of the Internal Audit Portal, a new online platform that will allow organisations to easily follow up on internal audit recommendations. The Strategic Action Plan of the State Internal Audit Committee was also launched, outlining the key priorities and objectives of the committee for the next few years. Panel discussions led by experts covered the latest trends, challenges, and strategies in internal audit. Overall, the conference contributed significantly to efforts to improve governance and accountability across the Maldives.”
The Maldives National University’s two-day Food Festival kicked off at the MNU Central Administration building in Malé, showcasing more than 300 creations from 19 participants.
Food prices grew 1.26% in January compared to the previous month.
“The main contributor to this rise was the increase in prices of reef fish (+6.63%), mango (+10.29%), lime (+17.68%), bananas (+4.84%), young coconut (+9.83%), coffee mix (3 in 1 and the like) (+7.35%), milk powder (+2.11%), packet cakes (+11.25%), coconut (dry nut) (+2.92%), yoghurt (+3.67%), mineral water (+1.17%), frozen chicken (+1.44%), milk packet flavoured (+1.45%), ginger (+13.34%) , fish paste (+1.22%), noodles (+3.75%), chocolate bars (+1.21%), watermelon (+3.73%), sausage (+3.28%), Basmathi rice (+2.62%), tang juice and the like (+1.74%) and tea bags (+0.40%),” the statistics bureau explained.
“This rise was partially offset by the fall in price of oranges (-21.54%), apples (-13.91%), onion (-5.27%) and grapes (- 3.49%).”
On an annual basis, the Consumer Price Index for food and beverages was up 7.82% compared to January 2022.
The annual rate of inflation stood at 3.99% in January, up from 3.42% in December.
A rise in the goods and services tax from 6% to 8% took effect on 1 January. But food prices were relatively unaffected as staples such as rice, flour and sugar as well as some fruits and vegetables are exempt from the sales tax.
In monthly terms, the CPI for all groups was up 0.96% from 0.49% in December.
In January, the highest spike in prices was recorded for cafés and restaurants at +4.42%.
“The main contributor to this rise was the increase in the price of pizza (+7.07%), coffee (+4.37%), lunch pack (+6.79%), shorteats [spicy] (+6.00%), sandwich (+8.80%), buffet meals (+6.32%), continental breakfast (+7.52%), burger (+7.39%) and noodles/pasta meals (+4.76%),” according to the statistics bureau.
“Over the twelve months until January 2023, the restaurants and accommodation services group rose by +5.59%.”
