Mandarin Oriental Hotel Group has announced that it will manage a new resort on a private island in the Maldives that is scheduled to open in 2025 being developed by DAMAC Properties, part of Dubai-based DAMAC Group, one of the world’s foremost luxury real estate developers.
The resort is currently under development on a pristine Indian Ocean site and will stretch across three private islands on Bolidhuffaru Reef in South Male Atoll, accessed by an easy 20-minute speedboat ride from Male’s Velana international airport. Surrounded by white sand beaches and the vibrant coral reefs for which The Maldives is renowned, the resort will provide a picturesque backdrop from which to enjoy a variety of activities including wellness experiences and watersports.
The accommodation comprises 120 stand-alone villas, made up of 56 overwater villas and 64 beachfront villas, including 10 branded Residences at Mandarin Oriental. Ranging in size from 200 to 1,000 square metres, the villas will be some of the largest in the market, each providing exclusivity and seclusion, with private pools and sweeping ocean views. The Group is working with a number of international consultants to ensure sustainability best practices are followed in all stages of the development.
Six dining outlets, including three speciality restaurants and a sunset bar, will ensure that guests have a varied choice of venues during their stay. In addition, creative indoor and outdoor event space will provide unique locations for meetings, social gatherings and weddings.
Spacious wellness facilities will be located in the resort’s tropical gardens and will include 12 treatment suites, vitality pools, sauna and steam rooms as well as a beauty salon. Mandarin Oriental’s expert team of wellness practitioners will offer tailored experiences and the Group’s signature treatments.
Additional leisure activities will include a watersports and dive centre, tennis courts, a kids and teens club, a swimming pool and numerous private coves and beaches to explore.
“Mandarin Oriental is focused on developing its resort portfolio and has been looking to enter The Maldives for some time. This project represents the right opportunity for the Group” said James Riley, Chief Executive of Mandarin Oriental Hotel Group.
“The DAMAC brand is synonymous with luxury products and service, and so we felt The Maldives was a perfect fit for us. DAMAC has extended its global footprint outside of the Middle East, from the UK to Canada, and we are thrilled to have reached the Maldives as well. We look forward to working with Mandarin Oriental Hotel Group to manage our new resort on this beautiful island.” Hussain Sajwani, Chairman of DAMAC Group said.
STO signs agreement to purchase MSS Graphene
State Trading Organisation (STO) has signed the agreement for the purchase of MSS Graphene. This is the third vessel to be purchased by Maldives State Shipping (MSS).
Managing Director of STO Hussain Amr and the Managing Director of German-based company Kandlar, Jonas Keller, signed the agreement at a special ceremony held at the STO head office. Managing Director Amr said MSS Graphene is the latest addition to the MSS fleet and that it will facilitate direct cargo service between the Maldives, Singapore, and Malaysia. He said that the purchase of the new ship is a huge step towards expanding the services of MSS to the international sphere.
Furthermore, Amr noted the accomplishments MSS has been able to achieve within a short period of time and said that this was the first ever negotiations held to purchase a container ship for the Maldives. He added that work is now being done to obtain containers stamped with the MSS logo.
Additionally, Managing Director of MSS Abdulla Saeed said that MSS Graphene is similar in size to MSS Galena, with an on-board cargo capacity of 680TEU, and that the new ship will begin operations in August. He highlighted that the crew of all the ships in the MSS fleet are mostly made up of Maldivians and that the company is providing more training and employment opportunities for Maldivians interested in the shipping industry.
MSS is a shipping and logistics company owned by STO, offering an extensive international liner shipping service. MSS began its services in 2020 to reduce the price of goods imported into the country.
Bulgarian ‘Crypto Queen’ added to US most-wanted list
Ruja Ignatova was behind one of the most notorious scams in the frequently treacherous world of crypto currencies.
A Bulgarian woman dubbed the “Crypto Queen” after she raised billions of dollars in a fraudulent virtual currency scheme has been placed on the FBI’s 10 most wanted list.
The Federal Bureau of Investigation on Thursday put up a $100,000 reward for Ruja Ignatova, who disappeared in Greece in October 2017 around the time US authorities filed a sealed indictment and warrant for her arrest.
The 42-year-old, who is also a German citizen, was behind one of the most notorious scams in the frequently treacherous world of crypto currencies.
In 2014, she launched OneCoin, ostensibly aiming to replace Bitcoin as the world’s leading virtual money.
Tapping a global network to market the coin to friends and family in exchange for their own payouts, she and co-conspirators pulled in at least $3.4 billion and possibly over $4 billion, according to court documents.
Ruja Ignatova is the newest addition to the #FBI's Ten Most Wanted Fugitives List. She's #wanted for allegedly leading a fraud scheme that affected millions of investors worldwide. We're offering a reward of up to $100,000 for info leading to her arrest. https://t.co/5mk0NccE7x pic.twitter.com/xKoj0RN6BZ
— FBI (@FBI) June 30, 2022
Classic Ponzi scheme
Officials said that OneCoin was not backed by any secured, independent blockchain-type technology as other crypto currencies are.
Instead, they said, it was a classic Ponzi scheme, in which early investors are encouraged to find others and then paid out by receipts from later investors.
“OneCoin claimed to have a private blockchain,” said FBI Special Agent Ronald Shimko in a statement.
“This is in contrast to other virtual currencies, which have a decentralized and public blockchain. In this case, investors were just asked to trust OneCoin,” he said.
Rewards for information
Ignatova disappeared in 2017 as international investigators began to close in on her group.
“Investigators believe Ignatova may have been tipped off that she was under investigation by US and international authorities,” the FBI said Thursday.
“She travelled from Sofia, Bulgaria, to Athens, Greece, on October 25, 2017, and has not been seen since.”
On May 11, Europol announced it had added Ignatova to its most-wanted list, and offered a 5,000 euro ($5,200) reward for information on her whereabouts.
But on Thursday she was no longer on the list. It was not clear why or when she came off it, and authorities in Europe and the United States have not shown evidence of whether she is alive or dead.
Samsung starts mass production of advanced 3-nanometre chips
The new chips will be more powerful and efficient and will be used in high-performance computing applications before being put into gadgets such as mobile phones.
Samsung Electronics has become the first chipmaker in the world to mass-produce advanced 3-nanometre microchips as it seeks to catch up with Taiwan’s TSMC.
“Compared to 5nm process, the first-generation 3nm process can reduce power consumption by up to 45 percent, improve performance by 23 percent and reduce area by 16 percent,” Samsung said in a statement on Thursday.
The South Korean conglomerate last month announced a five-year plan to invest 450 trillion won (US$356 billion), saying it would “bring forward the mass production of chips based on the 3-nanometre process”.
The vast majority of the world’s most advanced microchips are made by just two companies – Samsung and Taiwan’s TSMC – both of which are running at full capacity to alleviate a global shortage.
Smaller, more powerful
The new chips will be smaller, more powerful and efficient, and will be used in high-performance computing applications before being put into gadgets such as mobile phones.
Samsung is the market leader in memory chips but it has been scrambling to catch up with TSMC in the advanced foundry business.
TSMC dominates more than half of the global foundry market, with clients including Apple and Qualcomm, while Samsung trails with around 16 percent market share, according to TrendForce.
TSMC plans to begin volume production of 3-nanometre technology in the second half of this year, and entered the development stage of 2-nanometre technology last year, according to the company’s 2021 annual report.
Parliament passes bill to change Green Tax rate for large guesthouses
STO signs agreement to purchase MSS Graphene
Bulgarian ‘Crypto Queen’ added to US most-wanted list
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MMPRC takes part in Travel and Tourism Fair in India
Elections Commission grants approval to form Maldives Solidarity Party.
Parliament’s 06th May Terror Attack Report Highlights Defence Minister Mariya Ali Didi’s Negligence.
President Abdulla Yameen officially calls for the removal of Indian military personnel in the Maldives.
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Opposition invites all ruling coalition partners to join campaign to secure independence of the Maldives.
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