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Business

News in Brief

  • Housing ministry gives unlimited tokens for apartment submissions
  • Government hands back Kaadehdhoo Airport to Villa Air
  • President Yameen meets Sri Lankan president to discuss diplomatic relations.
Potential of Islamic finance yet to be fully explored in Maldives, suggests MMA governor thumbnail

Potential of Islamic finance yet to be fully explored in Maldives, suggests MMA governor

“The phenomenal growth of Islamic insurance and Islamic banking in the Maldives in the last few years suggest that there is still significant market to capture,” said Azeema Adam at the opening ceremony of an Islamic banking and finance conference.


GMR surprised with decision to give airport development to Chinese firm thumbnail

GMR surprised with decision to give airport development to Chinese firm

Indian media has reported sources within the infrastructure company expressing surprise at the agreement signed this week as its terminated deal to develop Ibrahim Nasir International Airport remains in arbitration.


Agreements on bridge and airport penned during Chinese president’s visit thumbnail

Agreements on bridge and airport penned during Chinese president’s visit

Eight MoUs – including the promotion of the Malé-Hulhulé bridge construction – and a preliminary contract for the development of Ibrahim Nasir International Airport were signed as Xi Jinpeng became the first Chinese President to visit the Maldives.


Indian high commission welcomes renegotiation of TATA housing deal thumbnail

Indian high commission welcomes renegotiation of TATA housing deal

“The positive developments in the TATA Housing project would definitely encourage more such investments from Indian businesses into Maldives,” read statement praising the resumption of the stalled project.


Housing minister hopes to sign amended TATA contract next week thumbnail

Housing minister hopes to sign amended TATA contract next week

Minister of Housing and Infrastructure Dr Mohamed Muiz has expressed hope that the new contract with Indian infrastructure giant TATA Housing for the construction of two apartment complexes – initially agreed in 2010 – can be signed soon.


Dr Shakeela alleges conspiracy to drive her from office thumbnail

Dr Shakeela alleges conspiracy to drive her from office

Speaking to Haveeru, the former health minister alleged a campaign of death threats and negative media coverage designed to engineer her removal in order to facilitate corruption within the sector.


Maldives strategically unprepared for SEZs, argues former Finance Minister Inaz thumbnail

Maldives strategically unprepared for SEZs, argues former Finance Minister Inaz

In an opinion piece published on newspaper Haveeru last week, Inaz argued that SEZs could worsen income inequality, deprive local councils of sources of revenue, and lead to a large influx of foreign labour.


Tourism Minister Adeeb appointed chairman of SEZ investment board thumbnail

Tourism Minister Adeeb appointed chairman of SEZ investment board

Following criticism from the opposition over the appointment of ministers to the board – noting that the constitution prohibits ministers holding “any other public office or office of profit” – the President’s Office spokesperson has insisted that the board was instituted legally.


Political consensus necessary for success of SEZs, cautions MMA governor thumbnail

Political consensus necessary for success of SEZs, cautions MMA governor

Speaking at a forum on state broadcaster Television Maldives last night, Dr Azeema said one of the most important prerequisites for successful enactment of the SEZ Act was consensus “on a political and national level.”


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Torture victims in the Maldives tell their stories