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Business

News in Brief

  • Everything will change once Rilwan is found, police commissioner tells Haveeru
  • Bank of Maldives’ net profit increases 105 percent in third quarter
  • Malaysian high commission to hold futsal tournament
Former Thilafushi Corporation head given 3 years for corruption thumbnail

Former Thilafushi Corporation head given 3 years for corruption

Ibrahim Riyaz was jailed for 3 years by the Criminal Court today after being found guilty of using his influence to gain unlawful advantages in the award of a reclamation project to Heavy Load Maldives Pvt Ltd in 2010.


Tourist arrivals register 10 percent growth in three quarters of 2014 thumbnail

Tourist arrivals register 10 percent growth in three quarters of 2014

While tourist arrivals reached 901,004 guests by the end of September, visitors from Asia and Pacific countries accounted for 50 percent of all arrivals during the first nine months of the year, the tourism ministry noted.


China to “favorably consider” financing Malé-Hulhulé bridge if project proves feasible thumbnail

China to “favorably consider” financing Malé-Hulhulé bridge if project proves feasible

The preliminary feasibility study will be followed by a project feasibility study. Afterwards, a design plan will be determined and the two governments will explore options to finance the project.


Government terminates Tatva waste management deal thumbnail

Government terminates Tatva waste management deal

Company sources have confirmed that the economic council’s decision was made last month, informing the Indian firm that issues with the city council and a desire to use a state-owned company had influenced the decision.


Addu City condemns government’s “obstruction” of guesthouse venture thumbnail

Addu City condemns government’s “obstruction” of guesthouse venture

“Government officials are spreading falsehoods to reduce investor confidence with the aim of obstructing Addu City Guesthouse Venture,” alleged the city council.


US and Maldives hold first bilateral trade talks thumbnail

US and Maldives hold first bilateral trade talks

The first talks under the 2009 Trade and Investment Framework Agreement included discussion of labor, intellectual property, and the investment climate.


MACL ordered to pay nearly MVR1 million in pay discrimination damages thumbnail

MACL ordered to pay nearly MVR1 million in pay discrimination damages

The Employment Tribunal has ordered MACL to pay MVR 987,000 in damages to 40 staff for discrimination in basic salaries in the first class action suit of is kind in the Maldives.


Bridge survey to start on Friday, says Adeeb thumbnail

Bridge survey to start on Friday, says Adeeb

Tourism Minister Ahmed Adeeb has told local media that a team of Chinese surveyors will arrive in the Maldives this week following the MoU signed during President Xi Jinpeng’s visit last month.


Exit permits required for foreign workers from today thumbnail

Exit permits required for foreign workers from today

Foreign workers in the Maldives will require an exit permit signed by their employer before being allowed to leave the country. Local NGOs have expressed concern at the scheme’s potential for abuse.


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Torture victims in the Maldives tell their stories