AGP Executive Report
Last update: 7 hours agoBanking: Bank of Maldives posted a record MVR 1.93 billion profit for the first nine months, up 26% year-on-year, and disbursed MVR 12.1 billion in new loans. It also supplied customers with USD 722 million in foreign currency; inflows are expected to strengthen with peak tourism season. Credit rating: Moody’s upgraded the Maldives to Caa1 from Caa2, citing debt repayments, stronger foreign-exchange buffers and continued access to financing. The outlook is stable. Rasmalé: Eagle Hills says it will initially fund 5,000 homes, an investment of about USD 500 million, and has invited Maldivian businesses to participate. The final agreement is still pending, and the developer says it will respect local laws. Tourism: The Maldives won 36 South Asian Travel Awards, including recognition for resorts, transport providers and travel agents. Digital payments: Online shopping limits tied to scarce US dollars remain a public concern; the President says work is underway to address the challenges.
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