AGP Executive Report
Last update: 9 hours agoConstruction & Finance: MTCC posted net profit of MVR 85m last year, up 88% year-on-year, even as revenue slipped 1% to MVR 2.1b, with construction and dredging still driving most income. Foreign Exchange Controls: The Maldives Monetary Authority is setting up a verification system with Customs to confirm TT-issued foreign currency is used for essential imports, amid pressure on dollar inflows. Mega-Infrastructure: The final Thilamalé Bridge superstructure segment linking Malé and Vilimalé has been installed, moving the Greater Malé Connectivity Project closer to completion. Tax & Compliance: Parliament doubled withholding tax on payments to foreign construction contractors from 5% to 10%, aiming for a fairer bidding environment. Waste & Plastics: President Muizzu ratified Waste Management Act amendments ending double taxation on plastic bags and abolishing the wholesale plastic bag fee. Hospitality & Skills: MATI will run an AI Transformation Programme for tourism and hospitality leaders, while Sun Siyam Media signed on as media partner for FHAM 2026. Logistics: VIA handled 18,457 tonnes of cargo in Q2 2026, with transshipment and freighter flights both rising.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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