Instant Payment, Addu Shangri-La, Indian Flights
Business news from August 26 to September 1: central bank launches new payment system; government divests stake in Villingili resort; and Air India and Vistara schedules direct flights to Maldives.
Starlink License, Resort Bids, Remittance Outflows
Business news from August 19 to 25: SpaceX Starlink licensed to provide internet services; two northern islands offered for resort development; and Sri Lankan workers remitted US$29.3 million in Q1-2023.
Port Relocation, Vegan Resort, Bangalore Flights
Business news from August 12 to 18: US$400 million Gulhifalhu port project due to begin; Indian export business plans to develop alcohol-free vegetarian-only resort; and national carrier plans to launch flights to Bangalore.
Transhipment Port, Cross Subsidy, Container Ship
Business news from August 5 to 11: Qatari company enlisted to build bunkering facility in northernmost atoll; investor sought for Vaavu airport with country’s largest lagoon on offer; and Maldives State Shipping purchases 105-container capacity cargo vessel.
STO Profits, Housing Loans, Sichuan Return
Business news from July 29 to August 4: STO’s net profit declines in Q2-2023 to US$19.6 million; BML extends Home Purchase Loan and Home Purchase Financing tenor to 25 years; and major Chinese carrier returns with tourists after seven-year hiatus.
Smart Shop, Euro Grants, Payment System
Business news from July 22 to 28: STO opens cashier-less shop in Hulhumalé; €1.4 million grant aid disbursed to 406 guesthouses and safari vessels; and central bank begins pilot testing of the ‘Maldives Instant Payment System.’
Millionth Tourist, Chinese Airline, Luxury Homes
Business news from July 15 to 21: tourist arrivals reach one million milestone; Sichuan Airlines plans direct flights; and developer sought for luxury residential buildings in Hulhumalé.
Ferry Network, Payment System, Giant Dredger
Business news from July 8 to 14: RTL ferry service launched in Huvadhu; three banks sign up for country’s first instant payment system; and MTCC brings new trailing suction hopper dredger.
Floating Villas, Maritime Training, Accounting Scholarships
Business news from July 1 to 7: contract signed to build 13 floating overwater villas in Vilivaru; MPL partners with Netherlands Maritime University College; and government awards 200 scholarships to train chartered professional accountants.
Beond Launch, Returning Airlines, Apprenticeship Programme
Business news from June 24 to 30: luxury airline set to to debut in September with a Dubai-Maldives route; Oman Air resumes flights to Maldives; and 59 apprentices graduate from Four Seasons programme.
Fisheries Project, MPL Bond, Agri-Boat Contract
Business news from June 17 to 23: World Bank provides US$67.8 million to reform SOEs and strengthen fisheries sector; Maldives Ports Limited raises MVR50 million through capital markets; and contract signed to build boat for carrying local agricultural produce to markets.
