The nation in focus
Markets, finance and the rufiyaa economy.
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Businesses that had not engaged with the Economic Ministry by 8 October will receive formal notices, and share transfers to Maldivians will be checked for genuine local control.
Third-quarter profit rose 36%, while the foreign currency the bank sold to customers in nine months almost matched its total for all of 2025.
The one-notch upgrade reflects lower near-term default risk, but the agency expects the budget deficit to widen to 8.0–8.5% of GDP this year.
The new facility requires repayments in US dollars and offers terms of up to 15 years, with a 20 per cent equity requirement.
The President’s Office says solutions have been secured for material shortages linked to Middle East conflicts, as ministers and state companies review island projects.
The planned 60-hectare port will initially handle 390,000 TEUs a year, with a larger international quay and a separate domestic harbour.
The nine-day Hulhumalé event will bring resorts, guesthouses, airlines and travel businesses into a dedicated visitor-economy programme.
Finance Ministry figures through 24 September put subsidy expenditure at MVR4.15 billion and the overall fiscal deficit at MVR3.36 billion.
The limit took effect on 1 October. The existing daily ceiling of US$1,600 per card remains in place.
The platform launched on 1 October. MIRA’s current guidance lists phased reporting and integration dates, while returns remain in MIRAconnect.
The facility took effect on 27 August. Indian suppliers must provide at least 75 per cent of the applicable contract value.
September earnings fall under a shorter conversion timetable, as Category A tourism businesses move to a 40 per cent requirement.
The 2027–2031 strategy targets public finances, state utilities and renewable energy, with public and private financing planned.
The change also covers new personal financing applications, while conventional services remain available on request.
The ministry lists different periods by sector and investment size, with individual terms issued through its transition committee.
A presidential decree also changes dates for water bottles and the size threshold for other bottled drinks.
The London dialogue covered fisheries, tourism, renewable energy and financial services.
The five-year ITFC agreement covers essential imports and financing through local banks for businesses.
Utility and construction operations would move to STELCO and MTCC. No completion dates or share-purchase prices were announced.
The income-based reform is planned for October. The government projects annual savings of MVR287 million.
The last US$50 million was repaid on 17 September. BML says the payment did not use its funds or customer deposits.
The developer lists serviced apartments, apartments and villas. Its public registration page does not give prices or a handover date.
The bank reports US$653 million in dollar sales through August and attributes transfer delays to a temporary supply-demand mismatch.
The proposal follows Anwar Ibrahim's state visit, which also brought a US$100 million currency swap announcement and education agreements.
MVR 2,524.99
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