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First Light

The Maldives, in focus — before the day begins.

A lighter weekend edition: the Foreign Minister calls for OIC unity on Palestine in Baghdad, August data show growth of 2.4 percent despite a sharp fall in fisheries, domestic airfares stay unchanged, and the Economic Minister defends foreign investment.

Foreign Affairs

Foreign Minister calls for OIC unity on Palestine at the 52nd Council of Foreign Ministers in Baghdad

Photo published by PSM News with its report on the Maldives Foreign Minister at the 52nd OIC Council of Foreign Ministers in Baghdad
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Foreign Minister Iruthisham Adam at the 52nd OIC Council of Foreign Ministers, Baghdad

Photograph: PSM News

Foreign Minister Iruthisham Adam called on members of the Organisation of Islamic Cooperation (OIC) to strengthen solidarity and cooperation in addressing global challenges and advancing Palestinian rights, PSM News reported. She was speaking at the 52nd Session of the OIC Council of Foreign Ministers in Baghdad, Iraq, where she also called for deeper dialogue and collective action for lasting peace.

The Maldives restated its support for an independent and sovereign Palestinian state based on pre-1967 borders, with East Jerusalem as its capital. The minister also highlighted inclusive sustainable development, including wider opportunities for persons with disabilities and greater participation by women and young people in public life. On the sidelines, she met foreign ministers of other member states to discuss bilateral relations. Additional Secretary Shiruzimath Sameer and Assistant Director Mohamed Shujau accompanied her.

The session coincides with 50 years of Maldivian membership of the OIC, which the country joined in 1976. Before the meeting, Corporate Maldives reported (opens in a new tab) that the delegation intended to seek a more prominent role within the 57-member organisation and to raise the effect of regional conflicts on supply chains, food security and transport for small island states.

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Economy & Markets

August economic activity up 2.4 percent year on year as fisheries output falls 65.6 percent

Lead image published by Corporate Maldives with its report on August 2026 economic activity
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August 2026 economic activity indicators

Photograph: Corporate Maldives

Economic activity in the Maldives grew 2.4 percent in August 2026 compared with August 2025, and 5.4 percent compared with July 2026, according to the Monthly Indicators of Economic Growth published by the Maldives Bureau of Statistics. The measure uses constant 2019 prices. Corporate Maldives reported the figures on 18 October 2026.

Financial services made the largest contribution, adding 1.4 percentage points as activity in the sector rose 21.9 percent. Real estate added 0.8 points and wholesale and retail trade 0.7 points. Fisheries activity fell 65.6 percent year on year, reducing growth by 2.1 points, and its share of total activity declined from 3.2 percent to 1.1 percent. Accommodation and food services remained the largest sector, at 23.1 percent of activity, but grew only 0.7 percent. Construction rose 10.4 percent.

The bureau said the estimates may be revised as they are aligned with the quarterly national accounts. The reports did not give a reason for the fall in fisheries activity.

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Business & Infrastructure

Domestic airfares held unchanged for three years, Tourism Minister says

Lead image published by Corporate Maldives with its report on domestic airfares
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Domestic airfares have not changed in three years, the Tourism Minister said

Photograph: Corporate Maldives

Minister of Tourism and Civil Aviation Mohamed Ameen said the government has not increased domestic airfares on any route in the past three years, Corporate Maldives reported on 17 October 2026. He was answering questions from the public about domestic travel costs at an Ahaa town-hall forum. "Over the past three years, we have not increased the price of any domestic flight ticket or the fare for any sector," he said.

The minister said airline operators had repeatedly proposed fare increases to cover rising costs, and that His Excellency Dr Mohamed Muizzu, President of the Republic of Maldives, declined the proposals on three occasions and directed airline management to raise revenue through other means. He said international airlines have raised fares by 30 to 40 percent because of higher fuel prices. Fares for passengers travelling for island guest houses and related tourism businesses are now below their previous levels, he said.

Guest house operators have said that high airfares create difficulties for their business and discourage tourist arrivals in the outer atolls, PSM News reported (opens in a new tab). The reports did not state the date or location of the forum.

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Economy & Markets

Economic Minister warns against political campaigns that target foreign investors

Photo published by PSM News with its report on Economic Development and Trade Minister Mohamed Saeed
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Economic Development and Trade Minister Mohamed Saeed

Photograph: PSM News

Minister of Economic Development and Trade Mohamed Saeed warned against turning political differences into campaigns that target foreign investors, PSM News reported. In a social media post responding to reports by a news outlet, he urged opposition movements to stop spreading misinformation and discouraging prospective investors. He said false information of this kind is "music to the ears" of those who seek an unfair advantage in the global business environment.

The minister said tourism remains the foundation of the Maldivian economy, that Maldivian laws govern the nation and that no activity contrary to the Constitution would be permitted. He asked those publishing such reports to examine the facts. According to Maldives Independent (opens in a new tab), the minister described its own report on the USD 790 million Ayla project in Noonu Atoll, which it called the country's first special economic zone township, as "fake news".

PSM News noted that the government is giving priority to foreign investment, including the Sustainable Township Project in Noonu Atoll and the Rasmalé project, and that both projects have drawn differing views from political groups and the public.

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