Author: timesofmv
The Maldives Monetary Authority (MMA) has countered recent media allegations suggesting that the nation’s reserve funds are severely depleted. The central bank labeled these reports as inaccurate and misleading, asserting that reserves are expected to show improvement by the end of August compared to July. In a statement emphasizing its dedication to transparency, the MMA highlighted its practice of regularly publishing reserve data each month. The authority expressed concern about the erroneous information circulating in the media and assured that their projections indicate a rise in usable reserves by August’s conclusion. Economic Development and Trade Minister Mohamed Saeed also rejected…
The Parliament’s Judiciary Committee has approved the removal of Prosecutor General Hussain Shameem from his position. During a closed-door session, Shameem was given the opportunity to defend himself against the no-confidence motion filed against him. The motion for Shameem’s dismissal was brought to the Parliament by MP Mohamed Shahid. Shameem has faced criticism for his role in handling various high-profile cases, including the sexual assault charges against former Tourism Minister Ali Waheed and the case involving former Youth Minister Ahmed Mahloof. He has also been accused of failing to appeal the alleged rape case of a foreign national aboard a…
The Health Ministry, under the leadership of Minister Dr. Abdulla Khaleel, has announced plans to establish a cutting-edge health laboratory within this term. The necessary land for the project has already been secured and handed over to the ministry for the development of this critical infrastructure. Historically, food safety has not been a major focus in the Maldives, primarily due to the lack of an appropriate laboratory facility. However, with the recent enactment of the Food Safety Act, the ministry is now required to create a laboratory that can conduct comprehensive food testing and analysis. Minister Khaleel emphasized that the…
The Maldives Marketing and Public Relations Corporation (MMPRC) has teamed up with Fliggy, China’s leading online travel platform under the Alibaba group, to strengthen the Maldives’ presence in the Chinese tourism market. This partnership was formalized through a Memorandum of Understanding (MoU) signed by MMPRC’s CEO and Managing Director, Ibrahim Shiuree, and Fliggy’s Vice President, Tong Teng, at a ceremony held at Villa Nautica. The event also featured Maldives’ Tourism Minister, Ibrahim Faisal. MMPRC highlighted that this collaboration with Fliggy is aimed at promoting the Maldives as a top-tier destination for Chinese travelers. Shiuree expressed his gratitude towards Fliggy and…
Maldives Islamic Bank (MIB) has announced plans to hold the third annual Guesthouse Symposium on October 10, at CROSSROADS Maldives. Speaking at a press conference, MIB’s Deputy Chief Executive Officer, Ahmed Riza, shared that the symposium is designed to bring together professionals from the tourism industry to exchange ideas and discuss current challenges. The event will include participation from guesthouses, liveaboards, and various companies, with a panel discussion featuring industry leaders who will offer their insights. Riza highlighted the symposium’s importance in promoting tourism in the Maldives and noted that a select number of attendees will have the opportunity to…
Male’ Water and Sewerage Company Private Limited (MWSC) has entered into a Memorandum of Understanding (MoU) with the Norway-based Flocean Company to investigate the feasibility of developing a subsea reverse osmosis (RO) desalination system in the Maldives. The MoU was signed by MWSC’s Managing Director, Abdul Matheen Mohamed, and Flocean’s Managing Director, Alexander Fuglesang. During the signing event, Matheen underscored the advantages of the underwater desalination system, pointing out that it would reduce the need for land-based facilities and offer a more cost-effective solution by operating underwater. He mentioned that the study’s goal is to find the most economical and…
Minister of Higher Education, Labour, and Skills Development Dr. Mariyam Marya has reaffirmed the Maldives government’s dedication to advancing education through digital innovation. Speaking at the Global Smart Education Conference (GSEC) 2024 in China, Dr. Marya underscored the government’s efforts to harness technology to enhance educational systems across the Maldives. She noted the unique challenges posed by the nation’s dispersed islands and atolls in ensuring equitable access to education. However, Dr. Marya emphasized the government’s resolve to overcome these challenges and ensure that digital advancements in education benefit all students, regardless of their location. Dr. Marya also stressed the importance…
Residents of Kolamaafushi island in Gaafu Alifu Atoll, located in the southern Maldives, have reportedly discovered several pieces of what is suspected to be ambergris. According to Shaamaa Thakkhaan, a member of Kolamaafushi’s Island Council, five pieces of the potential ambergris were found on the island. The first piece was notably large, and locals who visited the site later uncovered two smaller pieces in the same area. Later in the day, two more mid-sized pieces were also discovered nearby. “We’re not sure if they are ambergris—testing will confirm,” Thakkhaan stated, noting that the total weight of the suspected ambergris is…
Fenaka Corporation Limited has guaranteed the uninterrupted supply of ice to fishermen during the transition of its ice plants to Maldives Industrial Fisheries Company (MIFCO). The assurance was made by Fenaka’s Managing Director, Muaz Mohamed Rasheed, in a meeting with Fisheries and Ocean Resources Minister Ahmed Shiyam. During the discussion, Muaz confirmed that fishermen will not face any disruptions in ice availability throughout the transition period. Fenaka announced its decision to stop operating ice plants earlier in August, highlighting the move as part of a broader strategy to align its services with core objectives and address substantial financial challenges. The…
The Maldives Inland Revenue Authority (MIRA) has taken legal action against a prominent pharmaceutical business owner, alleging intentional tax fraud. The case has been filed with the Prosecutor General’s Office, requesting an investigation and prosecution of Hussain Irfan, the owner of My Chemist Godown, for evading taxes. MIRA’s investigation, which began after discrepancies were found in Irfan’s tax submissions, revealed that his wholesale business had reported false information in its profit tax returns for 2018 and 2019, as well as in his income tax return for 2020. The authority noted that these actions were taken with the intent of avoiding…
