AGP Executive Report
Last update: 5 hours agoBanking: Bank of Maldives posted a record MVR 1.93 billion profit for the first nine months of 2026, up 26% year on year, and issued MVR 12.1 billion in new loans. It expects foreign-currency inflows to rise as peak tourism season approaches. Rasmalé Project: Eagle Hills chairman Mohamed Alabbar says the developer will respect Maldivian laws and fund 5,000 proposed homes upfront, as debate continues over the project’s 99-year land lease and safeguards for national interests. Diving Tragedy: Autopsies confirmed that five Italian divers who died in a Vaavu Atoll underwater cave in May suffered oxygen deprivation; investigators have yet to establish why they remained underwater. Credit Rating: Moody’s upgraded the Maldives to Caa1 from Caa2 with a stable outlook, citing debt repayments and stronger foreign-exchange buffers. Tourism Careers: The tourism and youth ministries signed an agreement to create apprenticeship opportunities for Maldivian young people.
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