AGP Executive Report
Last update: 11 hours agoRegional Business: Aitken Spence reported first-half profit before tax up 71.4% to Rs. 2.8 billion; its tourism sector posted a Rs. 1.6 billion loss amid occupancy pressure and higher costs. Tourism Investment: Manhattan Grand Hotel has opened in Hulhumalé with 162 rooms and MICE facilities, while the government plans to develop 10 resorts in three years. Tourism Demand: October arrivals reached a monthly record, and airport taxes and fees have generated more than MVR 3.3 billion. Payments & Forex: The President says new exchange rules will ease the dollar shortage, as Russian tourists and tour operators report payment disruptions linked to BML’s rejection of Russian payments. Infrastructure Finance: Maldives Airports Company borrowings are nearing MVR 16.64 billion.
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