AGP Executive Report
Last update: 10 hours agoTourism Payments: Russian operators say Bank of Maldives has returned hotel payments worth an estimated $2 million, leaving some visitors to pay twice. The dispute puts pressure on a key tourism market. Foreign Exchange: President Mohamed Muizzu says mandatory currency conversion by tourism and other businesses will help ease the dollar shortage and strengthen reserves. Tourism Investment: The government has formed DRHC, a state-owned company with plans to develop 10 resorts over three years, while Manhattan Grand has opened in Hulhumalé with 162 rooms and new event facilities. Property Regulation: A proposed Real Estate Business Bill would create a regulator and introduce protections for property buyers. Sustainable Operations: Bandos Maldives has renewed Green Globe certification and earned HACCP recognition; its solar panels supply about 30% of the resort’s daily electricity needs. Climate and Jobs: An ILO study projects heat stress could cost the Maldives 2,400 full-time-equivalent jobs by 2040, underscoring risks to workers and businesses.
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