AGP Executive Report
Last update: an hour agoAirport Revenue: Departure taxes and Airport Development Fees generated MVR 3.32 billion through October, up 6.8% year on year. Tourism Payments: Bank of Maldives has confirmed it does not process Russia-linked transfers, after hotel payments for Russian tourists began bouncing back—potentially leaving visitors or tour operators to cover bills again. Tax Changes: Parliament approved scrapping the tax on foreign tour operators and raising the GST registration threshold to MVR 1.5 million. Rasmale’ Rules: A proposed real estate bill would allow eligible buyers to resell leasehold properties in integrated development zones, including Rasmale’, for leases of up to 99 years; alcohol, pork and gambling would remain prohibited. Startup Funding: BML’s grant applications close Tuesday at 2pm, with two selected businesses set to receive MVR 500,000 each. Airport Investment: MACL’s borrowings have climbed to nearly MVR 16.64 billion as it funds major airport and infrastructure projects. Hospitality: The long-stalled Manhattan Grand Hotel has opened in Hulhumalé, adding 162 rooms and large-scale event facilities.
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