Business news from August 6 to 12: an Indian company was enlisted to develop the Hanimadhoo airport, the World Bank welcomed plans to hike sales taxes, and the Maldives welcomed the millionth tourist of 2022.
Business news from July 30 to August 5: the president invited Indian entrepreneurs to explore business opportunities, STO and MTCC posted second quarter earnings, and Ooredoo celebrated 17 years of operating in the Maldives.
Business news from July 23 to 29: the president announced plans to reform fuel subsidies, the IMF backed sales tax hikes for 2023, and inflation hit 5% in June.
Business news from July 16 to 22: the central predicted strong growth despite challenges, the tourism industry association handed out golden jubilee awards, and new flats built in Hulhumalé were put up for sale.
Business news from July 9 to 15: the tourism sector received $205.5 million in investment, ITA Airways scheduled a new direct flight from Rome, and the deadline was extended for small tourism businesses to seek EU pandemic recovery support.
Business news from July 2 to 8: GST and T-GST will rise in 2023, the World Bank funded an unemployment insurance scheme, and the central bank unveiled the new Rufiyaa symbol.
Business news from June 25 to July 1: the Maldives has enough foreign currency to buy essential imports for five months, W Maldives and Sheraton Full Moon were sold, and the national carrier increased domestic flights to cater to high demand.
Business news from June 18 to 24: floating homes to be developed under integrated tourism model, petrol and diesel prices rise for fourth time this year, and government offices instructed to freeze hiring and promotions.
Business news from June 11 to 17: the first phase of a nationwide high-speed ferry service was launched, an MVR1 billion loan was taken to finance land reclamation, and the Maldives hosted three key events of the World Tourism Organisation.
Business news from June 4 to 10: new projects were put on hold, the Russian flag carrier increased flights, and the Maldives State Shipping’s new bulk carrier arrived with cargo.
Business news from 28 May to 3 June: STO shareholders approved a dividend of MVR65 per share, the Bank of Maldives dividend was a record payout, and MIFCO raised the price of canned tuna.