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MoECCT reveals new internet prices.

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The Ministry of Environment , Climate Change and Technology has revealed their plans to lower the price of internet in the Maldives.

According to the Ministry, changes has been brought to internet prices and packages after the ministry‘s negotiation with ISPs. The changes brought to the existing packages are as follows.

Package Speed(Mbps)Allowance(GB)Price(MVR)Throttle Speed (Mbps)
5302502
151005005
252007005

They stated that with the current changes are expected to lower the price of internet for an estimated 60-75% of the population while the throttle speed of the packages has been elevated two and five times respectively.

According to the changes brought, the packages with a throttle speed of 2  MBps has been raised to 5MBps while the minimum national broadband speed has been raised to 5 MBps. In Addition to this all packages with a price tag of MVR300 and above will have a minimum throttle speed of 5 MBps.

The Ministry of Environment , Climate Change and Technology also revealed that they are working on laying additional submarine cables with the Nippon Telegraph and Telephone Corporation (NTT). According to the statement by the Ministry, the mist fiber cables by the NTT will allow for the Government of Maldives to purchase capacity without any intermediaries.

This investment is set to bring cater for the nations internet demands for years to come. This will allow for cheaper internet prices in the years to come. The Ministry is also set to establish an Internet Exchange Point in the Maldives which would allow for even cheaper and faster internet. This would also open up the Maldives for prospective data centers form foreign corporations, back offices of international companies and allow the Maldivian Banking system to provide their services to an international audience.

The Ministry of Environment , Climate Change and Technology affirmed that they would continue to regulate the price of internet in the Maldives and would continue to negotiate with ISPs.

The changes to the internet prices in the Maldives will be brought in two phases. The first phase will kick off on July 2021 where the fixed broadband services will see the price of the packages drop by 28-30%. The second phase of the changes will be in October 2021 where the price of mobile broadband packages will drop by 20-100%.

The Ministry of Environment , Climate Change and Technology also stated that internet has become a part of life and that it is a necessity for all walks of life. They also stated that internet is a basic necessity of life and that they would continue to work on making internet more accessible to the public with lower prices and better packages.

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China finds 1 billion tons of oil and gas.

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Chinese oil and gas giant PetroChina has found a massive reserve of oil and gas in North Western China.

The oil and gas reserve was found within the Tarim Basin. According to PetroChina, the oil and gas was found in an area deemed as “ultra-deep”.  The Tarim Basin is one of the most challenging areas to explore due to its harsh and complicated  ground conditions. However, it is also highly petroliferous.

Due to this, the output from the basin has significantly increased within the past six years, from 30,000 tons a year to 1.52 million in 2020. It is expected to reach 2 million tons in 2021.

 

Source: Xinhua News Agency.

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Bank of Maldives relaunches their Mobile Banking with a new look.

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Bank of Maldives (BML) announced it has relaunched its Mobile Banking App with a new look and extra features to provide customers with a safe, secure, and seamless banking experience. BML is regarded as the biggest retail bank in the Maldives, with a presence on every island.

BML introduced their first mobile banking app to the Maldives in 2015, allowing customers to bank conveniently anywhere, anytime. With this new upgrade the following features were added;

  • Quick Pay, to make transfers without adding a contact
  • Verifying account name before making transfers and adding contacts
  • Generating receipts for past transactions at any time
  • Switching between personal, joint or business profiles
  • Applying for banking services, managing cards and updating personal information
  • Sending messages to the Bank and receiving notifications for replies

 

Bank of Maldives, CEO Tim Sawyer Photo: BML/Twitter

In a press release BML’s CEO and Managing Director, Tim Sawyer commented, “We are delighted to launch our new Mobile App today as part of our digital roadmap to enhance customer experience. It is also an important milestone as we continue to invest in technology to deliver a better banking experience for our customers across the country. The updated app now includes services that have previously only been available on our Internet Banking platform. Over the coming weeks, we will also be introducing additional features to the App, including our digital wallet and payment functions.”

BML also mentioned in their press release that over 90% of their customers registered for online banking and more than 73 million transactions were made through their digital channels last year.

BML Mobile Banking App is now available on Apple’s App Store and Google Play for their customers to download.

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Hilton to open fourth resort in the Maldives.

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Hilton has signed an agreement to bring its fourth resort  island to the Maldives.

According to Hilton, an agreement was assigned between Amingiri Holdings and Hilton. This would allow them to launch a resort under their flagship brand by the end of the year. The Hilton Maldives Amingiri  will feature 109 villas.

Hilton already has three high end luxury resorts in the Maldives. SAii Lagoon Maldives, Curio Collection by Hilton, Waldorf Astoria Maldives Ithaafushi and the Conrad Maldives Rangali Island.

The Hilton Amingiri is expected to receive a large number of occupants due to its strategic location. The Island is located in the K.atoll, just 15 minutes away from the Velana International Airport in a speedboat.

The Hilton Amingiri will feature villas with private pools . It also has an exclusive 6 bedroom villa for  families looking for a holiday together.

Guy Phillips, senior vice president of Development at Hilton stated that “The Maldives remains one of the world’s most highly sought-after destinations and the signing of Hilton Maldives Amingiri reflects the excellent growth potential we see in the market.”.

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