Alia donates Yamaha 150 horsepower engine to Biosphere Reserve

Jun 13, 2024, 5:31 AM
Alia donates Yamaha 150 horsepower engine to Biosphere Reserve. -- Photo: Alia

Alia donates Yamaha 150 horsepower engine to Biosphere Reserve. -- Photo: Alia

Alia Investment has donated a Yamaha 150 horsepower engine to the Biosphere Reserve under the Ministry of Environment.

The engine was handed over by Alia Managing Director Alau Ali at a ceremony held at the Environment Ministry. Environment Minister Thoriq Ibrahim accepted the gift.

Speaking at the ceremony, Minister Thoriq congratulated the management and employees of Alia on its 60th anniversary and thanked a company with a long history of business in Maldives for taking such an initiative.

He noted that this is the first and most valuable gift from a private company to the Ministry of Climate Change, Environment and Energy.

"Today marks the beginning of a strong relationship between Alia and the Ministry of Climate Change, Environment and Energy. I hope it will be mutually beneficial," he said.

Alia Investment donates a Yamaha 150 horsepower engine to the Biosphere Reserve. -- Photo: Alia
Alia Investment donates a Yamaha 150 horsepower engine to the Biosphere Reserve. -- Photo: Alia

Alia Investment donates a Yamaha 150 horsepower engine to the Biosphere Reserve. -- Photo: Alia

There are 564 areas in 109 countries designated as biosphere reserves around the world. Studies conducted in Baa atoll by UNESCO have shown that the atoll is rich and unique in natural resources and species.

The atoll's natural resources are sustainably managed by a department of the Ministry of Environment. Alia said it hopes that the donated engine will be a useful tool for the maintenance of the area.

As Alia celebrates its 60th anniversary this year, the company has been instrumental in revolutionizing the transportation industry.

This year will also mark the 50th anniversary of the introduction of Yamaha outboard engines to Maldives and the continuous provision of quality after-sales service by Alia.

Comments

Read More

Latest News

Dhiraagu Gamers Guild offers iPhone 18 Pro Max

Dhiraagu Gamers Guild is offering a chance to win an iPhone 18 Pro Max in Burgundy to users who subscribe and verify their profiles by December 31, 2026. This initiative aims to support the Maldivian gaming community by providing exclusive rewards and competitive tournament opportunities for local talent.

Fenaka Managing Director Afeef dismissed

Mohamed Afeef has been dismissed as the Managing Director of Fenaka Corporation, the third person to hold the role under the current administration. His removal comes amid government efforts to dissolve the utility company and reduce the state-owned workforce by 33 percent. No official reason for the dismissal has been provided.

India rolls over 30 billion rupee currency swap

India has agreed to roll over a 30 billion rupee currency swap for the Maldives following a request from the Maldivian government. This extension aims to stabilize the nation's low foreign exchange reserves and prevent economic strain. The decision follows a recent $50 million debt payment made by the Maldives to India in September.

MMA restricts medical USD allowance to six countries

The Maldives Monetary Authority has restricted the $1,000 medical currency allowance to six specific countries to ensure funds are used for their intended purpose. This change follows a surge in foreign currency demand for private travel. The $2,000 allowance for state-funded Aasandha patients remains unchanged.

Dollar revenue drops 15% in September compared to 2025

The Maldives Inland Revenue Authority reported a 15% drop in dollar revenue for September, falling to $126.8 million. While tourism taxes rose, the decline was driven by a sharp decrease in lease extension fees and airport taxes. Despite this monthly dip, total dollar revenue for the year remains higher than 2023 levels at $1.2 billion.

"No obstacles to conducting online transactions now"

Economic Minister Mohamed Saeed announced that Bank of Maldives has resolved previous obstacles to online transactions and e-commerce caused by the dollar shortage. The bank is also working to restore full capacity for telegraphic transfers and foreign currency issuance as the government manages unprecedented debt repayment obligations.

BML named among the World’s Best-Performing Banks

Bank of Maldives (BML) has been named one of the World’s Best-Performing Banks by Forbes, ranking 39th in the Tier 6 category for smaller institutions. The selection was based on a global analysis of profitability, growth, and asset quality. This recognition follows BML's record-breaking financial performance and projected historic success.

Newsletter

Get the latest news delivered straight to your inbox