Addu City Council’s Guesthouse Tourism Promotion Board will assist with the construction, financing, and staffing of new guest houses in six designated areas of the country’s second largest urban area.
Despite a positive outlook for the economy in 2014, the central bank warned that “any setback to ﬁscal consolidation either due to slippages in revenue or current expenditure will undermine medium-term debt sustainability and will have adverse implications for exchange rate and prices.”
Civil Court has ruled that the Maldives Airports Company Ltd can sue its former Chairman ‘Bandhu’ Ibrahim Saleem for his January 2012 decision to allow the disputed airport development charge to be deducted from concession fees owed to the government.
The Capital Market Development Authority’s quarterly report detailed plans for further expansion of the Islamic financial sector as well as pensions investments which Shafeega noted had not “kept pace” with recent pension development.
According to the Deccan Herald, India’s Army Chief General Bikram Singh has offered to build a dockyard worth MVR7.7 billion (US$500 million) in the Maldives. China has reportedly indicated interest in the project first.
“By choosing tuna from the Maldives tuna fishery, Sainsbury’s is supporting artisanal fishermen who have made an international difference to the way the Indian Ocean fishery is managed,” the Marine Steward Council has said.
The GMR is only owed reimbursement for a US$ 78 million upfront concession fee and expenses incurred for airport development, not compensation for losses, Attorney General Mohamed Anil has said.
“The annual increase was due to the rise in the number of arrivals from China which oﬀset the decline in arrivals from Europe,” explained the central bank’s monthly update of “developments in key economic sectors”.
The MDP has said it will terminate any new airport development contracts made by President Yameen if it comes to power.