STO Chairman Amir Mansoor Hits Out at Government’s New Foreign Exchange Rule
Prominent businessman and State Trading Organization (STO) Chairman Amir Mansoor has criticised the government’s new foreign exchange regulation, declaring he...
Maldives Inks Economic Gateway and Free Zone Framework Agreement With Singapore-Based Firm
The Maldives has signed a framework agreement with Singapore-based investment firm Capital Asia Investments to establish a port and other...
Fuel Facility at Funadhoo Will Relocate to Thilafushi Instead of Maagiri Falhu: STO
The fuel storage facility at Funadhoo Island in Kaafu (K.) Atoll will be moved to K. Thilafushi instead of K....
Muizzu Administration Seeks $70 Million Loan From Swiss-Based Vitol Group
The Maldivian government has approached the Vitol Group, a Switzerland-based Dutch multinational energy and commodity trading company, for a $70...
Bunkering Will Not be Profitable for the Maldives: Ex-President Yameen
The bunkering service launched Thursday at Haa Alifu (HA.) Atoll will not generate profits for the Maldives, former President Abdulla...
Bunkering Services Launched After Multiple Delays
The long-postponed bunkering service, touted by the Mohamed Muizzu administration to expand the Maldives economy by US$400 million annually, finally...
STO CEO Appointed Fenaka Chair as Utilities SOE Transitions to Subsidiary
The Chief Executive Officer (CEO) and Managing Director (MD) of the State Trading Organization (STO), Shimad Ibrahim, has been appointed...
Launch of Bunkering Services Pushed Back for Sixth Time
The State Trading Organization (STO) announced that it will begin offshore bunkering services by the end of the month. When...
MPL Launches Dedicated International Maritime Services Website
The Uthuru Maritime Services (UMS) website, a specialised website for maritime services targeted for the country’s northern region, launched on...
Bunkering Services Delayed Again; Now Eying September Launch
The launch of bunkering services, scheduled to begin on Thursday at Haa Alifu (HA.) Atoll, has been postponed to September....
