Austerity Measures, Aeroflot Flights, MSS Chrome
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.
STO AGM, Record Payout, Price Hikes
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.
Debt Distress, Arrivals Record, Resort Rent
Business news from May 21 to 27: JPMorgan put Maldives among countries at risk of reserve depletion, a tourist arrivals record was set for May, and the government scrapped plans to reduce land rent.
Record Dividends, STO Profits, Airport Expansion
Business news from the week of May 14 to 20: MTCC shareholders approved a dividend of MVR3.50 per share, STO’s profit was up 47% last year, and the president inspected progress on the Velana International Airport’s expansion.
Thilamalé Bridge, STO Dividends, Hulhumalé Buildings
Business news from the week of May 7 to 13: a concrete supply deal was signed with Afcon Infrastructure, STO board of directors proposed MVR65 per share, and HDC invited bids for mix-use residential buildings.
LottieFiles Funding, AirAsia Return, Fish Controls
Business news from the week of April 30 to May 6: a tech startup of a Maldivian co-founder raised US$37 million, low-cost airline resumed flights, and MIFCO lifted purchasing limits.
Aeroflot Return, King’s Forex, Electronic Transactions
Business news from the week of April 23 to 29: the Russian flag carrier is due to resume flights in May, an online trading company sought to assure investors after halting operations, and new electronic transactions law comes into force.
New Terminal, Unpaid Taxes, Intellectual Property
Business news from the week of April 16 to 22: a first glimpse of VIA’s new passenger terminal, the state is owed US$1.4 billion from 2020, and a local artist won a copyright infringement lawsuit against an American musician.
Growth Forecast, Ferry Network, Docking Fees
Business news from the week of April 9 to 15: the World Bank revised GDP projections downward, MTCC signed service agreements for ferry network, and the Fuvahmulah City Council heeded concerns of safari vessels.
Fishing Bounty, Pricey Limes, Stalled Resorts
Business news from the week of April 2 to 8: fish catch in the south exceeded MIFCO’s freezing capacity, STO’s intervention failed to bring down sky high lime prices, and no construction on 83 islands leased for resort development.
Ransomware Attack, Cancelled Flights, Digitalised Cargo Clearance
Business news from March 26 to April 1: STELCO relaunched online services after a ransomware attack, Maldivian suspended flights to Colombo, and the ports authority digitalised cargo clearance services.
