Business news

Ministry of Tourism has revealed over 700,000 tourist arrivals have been recorded so far this year. The statistics from the tourism ministry show 706,468 tourists have visited the Maldives as of June 1, which is a 55% increase compared to the same period last year, and a 6% decrease compared to the same period in […]

State Trading Organisation (STO) has introduced green concrete to the market as part of the efforts of the Maldives to become carbon-neutral. STO stated that the use of green concrete will pave the way for the construction sector to use more environmentally friendly and sustainable materials. Green concrete was invented in Denmark in 1998 and […]

President Ibrahim Mohamed Solih has inaugurated the Astrabon Expo 2022, being held from June 7-9 at the Manhattan Business Hotel. Chief Executive Officer (CEO) of Astrabon Maldives Yoosuf Riffath said that the expo will showcase the various products supplied by the company, which are brought from all over the world including Germany, Spain, and Italy. […]

The largest bulk carrier owned by Maldives State Shipping (MSS) has made her maiden call at the Male’ Port. The bulk carrier, MSS Chrome, was purchased by the national shipping line to import construction materials to the Maldives. MSS Chrome is the largest vessel to bear the Maldivian flag. MSS Chrome made her maiden call […]

Aeroflot, the flag carrier and largest airline in Russia, has decided to increase its flights to the Maldives from June 10. Aeroflot suspended flights between the Maldives and Russia following the conflict between Russia and Ukraine. However, the airline resumed flights in May. Aeroflot currently operates four flights a week, and the airline will operate […]

Abdulla Giyas Riyaz has been elected as the President of the Maldives Association of Travel Agents and Tour Operators (MATATO). He replaces Abdulla Suood as president for the new term. Giyas was elected at MATATO’s annual general meeting (AGM) held on June 4. He had previously served as the president of the association and most […]

Ooredoo Maldives has launched a special Postpaid plan dedicated to the elderly community as part of its activities for the World Telecommunications and Information Society Day. The package was launched by the Minister of Gender, Family and Social Services Aishath Mohamed Didi. During the launch, the minister said Ooredoo’s Senior Citizen Postpaid package is a […]

Maldives State Shipping (MSS) has revealed it is hiring employees for its new container vessel MSS Graphene. MSS has opened applications for 15 positions, including the position of shipmaster with a monthly salary of USD7,500. The second highest paying position is the chief engineer with a salary of USD6,900 and the third highest paying position […]

Aeroflot, the flag carrier and largest airline in Russia, has resumed operations in the Maldives. Aeroflot suspended flights between the Maldives and Russia following the conflict between Russia and Ukraine. Maldives Airports Company Limited (MACL) said that flights between the Maldives and Russia will be operated every day of the week. A total of 297 […]

Managing Director of State Electric Company Limited (STELCO) Ahmed Shareef has stated the company is seeking new business ventures to reduce its dependency on the revenue generated from electricity services. Speaking to PSM News, Managing Director Shareef said efforts are underway to establish revenue for the company through multiple businesses. As such, Shareef noted the […]

BTEC Company Private Limited has established a poultry farm in Addu City. A special ceremony at the Addu Harbour operated by BTEC Company was held to mark the commencement of live poultry sale. The ceremony was attended by Mayor of Addu City Ali Nizar, council members, and Minister of State for Ministry of National Planning, […]

Introducing the official Rip Curl store in Marina Crossroads. Rip Curl is a designer, manufacturer, and retailer of surfing sportswear and accompanying products, and a major athletic sponsor, this is the first dedicated Rip Curl store open to the general public in the Maldives by SIMDI. Please visit our store for quality Wet-suits, Surf Clothing, […]

Azur Air, formerly known as Katekavia has commenced charter flights to the Maldives aligning with the festive season. The first flight landed at the main Velana International Airport yesterday. The Boeing 777-300ER aircraft which landed was carrying about 400 tourists from Russia and CIS countries. The crew and passengers of the airline was welcomed by […]

Today minister of Tourism Hon. Ali Waheed has announced that the government has shortlisted 29 new islands for resort development. At tonights event “Burabi” held at Dharubaaruge, Minister of Touriam informed that most of the island or lands would be of the ‘ one island , one resort ‘ concept and few lands from currently […]

National airline, Maldivian has started scheduled flights to Addu City from Gaafu Alifu Atoll and Gaafu Dhaalu Atoll. According to Maldivian, the flights are scheduled to operate between the two atoll six time a week. They have also revealed that schedule flights are also planned between Laamu Atoll and Addu City as well. The flights […]

Economic Ministry has terminated 32 privately owned businesses, including shops and marts. An announcement made by the Ministry last Tuesday stated that the businesses were terminated according to the law last month. Some of these businesses had been created in 2015. The Ministry had previously announced that such a move may be forthcomin. The Ministry […]

A fish processing plant and ice plant by Ensis has been inaugurated in capital city Malé’s suburban extension Hulhumalé on Monday. The Ensis Canning Factory was officially inaugurated by President Ibrahim Mohamed Solih. The factory is an investment of USD 25 million (MVR 385 million) and was constructed as a state-of-the-art facility. It has the […]

President Ibrahim Mohamed Solih has on Sunday established the ‘Tradenet Maldives Corporation Limited’. The President’s Office said that the corporation was established as a company “with hundred percent government shares,” and as a “Single Window operator for complete business-related services under a single roof.” In its work to ensure economic stability in the country, the […]