Business

President sets up company to build resorts and share profits with every Maldivian

President Dr Mohamed Muizzu has established a state-owned company to develop resorts and share their profits equally with every Maldivian. The company, named Dhiveheenge Resort Hissaa Corporation (DRHC), was created…

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STO’s Relocation of Oil Storage to Thilafushi Aims to Boost Capacity and Stabilize Prices

The State Trading Organisation (STO) is set to relocate its oil storage facility from Funadhoo to Thilafushi, a move expected…

MPL CEO Sets Ambitious Target of USD 6.5 Million in Revenue by Year-End

Maldives Ports Limited (MPL) is targeting a revenue of USD 6.5 million by the end of 2024, according to the…

Maldives to Implement Free Trade Agreement with Türkiye in Early 2025

The Maldives' Minister of Economic Development and Trade, Mohamed Saeed, has announced that the free trade agreement (FTA) between the…

STELCO Targets USD 7.78 Million Profit by Year-End, Focuses on Modernization and Employee Engagement

State Electric Company Limited (STELCO) is on track to achieve a projected profit of USD 7.78 million by the end…