Foreign Exchange Bill & tourism impact: President Dr. Mohamed Muizzu ratified amendments requiring resorts to convert 40% of foreign-currency earnings through Maldivian banks, while insisting staff salaries can continue in USD and saying compliance “will not be difficult.” The bill also targets black-market FX rates by restricting publication of rates above MMA reference prices and setting fines for individuals and businesses. Industry pushback: The MDP vowed “direct political action” against the 40% FX rule, arguing it could harm resorts and investor confidence, and calling for Muizzu to resign. Energy & resources framework: Cabinet approved a legal framework for exploring and extracting oil, gas, minerals and other non-living marine resources in Maldives maritime zones, with a new bill to cover permits, ownership and regulation. Engineering capacity boost: On National Engineers’ Day, the government announced plans for a state-of-the-art engineering laboratory funded outside the state budget, spanning multiple engineering disciplines plus robotics, AI and digital engineering. Infrastructure progress: Officials inspected the Thilamalé Bridge under the Greater Malé Connectivity Project, with leaders calling it a key milestone in Maldives-India ties. Finance & women in Islamic banking: Maldives Islamic Bank won an international WOMANi Leadership Award for advancing women into leadership roles in Islamic finance. Sustainability in resorts: Niva Kuramathi Maldives retained Travelife Gold status for sustainability efforts. Maritime manufacturing tie-in: While not Maldives-focused, MKEL Marine’s launch of indigenous composite watercraft lines highlights regional moves toward local marine production and potential Maldives interest.