Business
Germany stamps authority on Lufthansa with $9.8 billion lifeline

FRANKFURT/BERLIN (Reuters) – Germany threw Lufthansa (LHAG.DE) a 9 billion euro ($9.8 billion) lifeline on Monday, agreeing a bailout which gives Berlin a veto in the event of a hostile bid for the airline.
The largest German corporate rescue since the coronavirus crisis struck will see the government get a 20% stake, which could rise to 25% plus one share in the event of a takeover attempt, as it seeks to protect thousands of jobs.
Lufthansa has been locked in talks with Berlin for weeks over aid it needs to survive an expected protracted travel slump, with the airline wrangling over how much control to yield in return for financial support.
Germany’s central government has spent decades offloading stakes in companies, but remains a large shareholder in former state monopolies such as Deutsche Post and Deutsche Telekom. Berlin also still has a 15% holding in Commerzbank (CBKG.DE), which it took on during the global financial crisis.
Other airlines including Franco-Dutch Air France-KLM (AIRF.PA) and U.S. carriers American Airlines (AAL.O), United Airlines (UAL.O) and Delta Air Lines (DAL.N) have also sought state aid after the coronavirus hit global travel.
Germany’s Finance and Economy Ministries said on Monday that Lufthansa, whose shares closed up 7.5% at 8.64 euros, had been operationally healthy and profitable with good prospects, but had run into trouble because of the pandemic.
“The support that we’re preparing here is for a limited period,” Finance Minister Olaf Scholz said of the deal, under which Germany is buying new shares at the nominal value of 2.56 euros apiece for a total of about 300 million euros.
Berlin, which has set up a 100 billion euro fund to take stakes in companies struck by the coronavirus crisis, said it plans to sell the Lufthansa stake by the end of 2023.
“When the company is fit again, the state will sell its stake and hopefully … with a small profit that puts us into a position to finance the many, many requirements which we have to meet now, not only at this company,” Scholz added.
Conditions of the deal include the waiver of future dividend payments and limits on management pay, Lufthansa said, adding that the government will also fill two seats on its supervisory board, with one becoming a member of the audit committee.
Silent participation
Under the bailout package, details of which were earlier reported by Reuters, the government will also inject 5.7 billion euros in non-voting capital, known as a silent participation.
Part of this could be converted into an additional 5% equity stake, either to protect Lufthansa against a hostile takeover or in case coupon payments of 4% in 2020 and 2021, increasing to 9.5% by 2027, are missed by the airline.
“This (bailout deal) will prevent Lufthansa from being sold out,” Economy Minister Peter Altmaier said, adding that it would help to save thousands of jobs but did not include any extra environmental conditions on top of planned measures.
Lufthansa will separately receive a 3-billion-euro three-year loan from state-backed KfW and private banks.
The state’s WSF rescue fund plans to refrain from exercising voting rights at regular shareholder meetings under the bailout deal, which still requires approval by shareholders as well as the European Commission, Lufthansa said.
Altmaier declined to give details about the remaining sticking points in negotiations with the European Commission, but he said he was convinced that Brussels would give the green light for the bailout.
“We liaised with Brussels on all big rescue packages with which we avoided millions of unemployed and prevented a lot of companies from bankruptcy. They were all approved at the end… so this gives me hope that we’ll also find a solution in this case,” Altmaier told ARD public television.
Germany is still discussing with Europe’s competition watchdog which airport slots it will have to give up to ensure the bailout does not hamper competition, a person close to the matter said.
“Scrutiny is extremely thorough as it is the first large equity-based bailout in the pandemic,” the source said.
German newspaper Handelsblatt reported that Chancellor Angela Merkel told fellow conservatives during a closed-door meeting on Monday that Berlin would fight to ensure that remedies were not too stringent.
Reporting and photo: Reuters
Business
BBM brings Vaseline, Hellmann’s, BRU Coffee to Maldives market

Bestbuy Maldives (BBM) extended their strong and decades old partnership with Unilever International, by adding to their brand portfolio – Vaseline, Hellmann’s, and BRU Coffee for the Maldivian market.
The collaboration was announced at a Business gathering held at the Manhattan Business Hotel, attended by over 300 trade partners from across Maldives.

With this partnership, BBM strengthens its retail offerings across the Maldives archipelago. Vaseline, a trusted name in skincare, and Hellmann’s, known globally for quality food products, will now be available through BBM’s distribution network.
“Vaseline is a name that generations trust for skin care. And Hellmann’s is a global icon in flavours. We’re proud to bring both to shelves across the Maldives and enrich everyday living for our customers,” said Muksith Hussain, Business Head – Retail.
In the hospitality sector, BBM introduces Bru Coffee as an addition to its HORECA (Hotel, Restaurant, Café) offerings. BRU Coffee provides a quality beverage option for hotels, resorts, and restaurants across the Maldives.

“BRU is one of the most loved coffee brands in the region. With this launch, we’re giving our hospitality partners a versatile product that delivers on both taste and reliability that can be consumed as a beverage and for the purpose of dessert preparation, something they can serve with confidence,” said Hisham Girsy, Business Head – HORECA.
The gathering served as a platform for BBM to engage with its valued trade partners and introduce these new brands to the market.
A.V.S Subrahmanyam, Chief Operating Officer at BBM, remarked: “BBM is built on relationships. This event reflects our commitment to not just introduce great products but to support, connect, and elevate our trade partners. We’re in this together, and the journey ahead is promising.”

As BBM continues to grow its portfolio and global partnerships, the focus remains clear delivering excellence, building trust, and shaping the future of trade in the Maldives.
Bestbuy Maldives (BBM) is a leading distribution company in the Maldives, connecting international brands with local businesses across retail and hospitality sectors. With a customer-focused approach and extensive distribution network, BBM continues to be a trusted partner in the Maldivian market.
Business
Redefining corporate retreats at Cinnamon Dhonveli Maldives

MICE travel is undergoing a sea change—quite literally. No longer limited to traditional conference rooms and structured schedules, Meetings, Incentives, Conferences, and Events (MICE) are now about creating moments that inspire, rejuvenate, and bring teams closer together. At Cinnamon Dhonveli Maldives, the boundaries between business and leisure blur, offering a setting that transforms work into a pleasure.

Just a 20-minute speedboat ride from Malé, Cinnamon Dhonveli Maldives is the ideal destination for teams looking to escape the expected. Here, brainstorming sessions take place on powder-soft beaches, where the rhythmic waves set the pace for new ideas. Mornings might begin with yoga by the ocean, followed by strategy meetings in open-air pavilions. Afternoons invite collaborative workshops under swaying palms or team-building activities that include snorkelling, paddleboarding, or even a friendly beach volleyball match.

Dining at Cinnamon Dhonveli Maldives elevates every corporate event with fresh, sea-to-table cuisine, designed to fuel both body and mind. From curated group dinners under star-streaked skies to themed private banquets, every meal becomes an experience in itself. For those looking to celebrate milestones or reward top performers, the resort’s scenic locations offer the perfect backdrop for gala evenings or intimate cocktail gatherings.

Accommodation blends comfort with elegance, offering ocean-view suites and beachside retreats that allow participants to rest, recharge, and return with a fresh perspective. Despite the remote charm, connectivity is never an issue—seamless Wi-Fi and business-friendly amenities ensure that productivity doesn’t pause, even in paradise.

Cinnamon Dhonveli Maldives turns corporate travel into something memorable. Whether it’s a leadership retreat, a high-level conference, or an incentive escape, the resort offers a canvas for events that leave lasting impressions. Here, business goals are pursued in harmony with nature, creativity flows effortlessly, and the line between work and well-being fades.
Let your next MICE experience be more than a meeting—make it a journey worth sharing.
Business
Visit Maldives presents cultural, food festival to celebrate 2025

Maldives Marketing and Public Relations Corporation (MMPRC/ Visit Maldives) has announced the ‘Maldives Culture and Food Festival’, a two-day extravaganza showcasing the Maldivian cuisine, local arts and craft, and entertainment.
The festival will take place at Central Park, Hulhumale’, on New Year’s Eve, December 31st, 2024, and continue into New Year’s Day, January 1st, 2025, offering a unique and immersive experience for locals and tourists alike.
This exciting initiative by MMPRC is a collaborative effort involving key partners such as the Ministry of Tourism (MOT), Housing Development Corporation (HDC), MyHulhumale’, Business Center Corporation (BCC), Male’ City Council, Waste Management Corporation Limited (WAMCO), the Maldives Police Service, Maldives National Defence Force (MNDF), Public Service Media (PSM), Maldives Airports Company Limited (MACL), Dhiraagu, Ooredoo, Manta Air, Maldivian, Ace Travels, and Gulf Air. It promises a dynamic programme filled with performances, activities, and food stalls. Attendees will have the opportunity to savour authentic Maldivian dishes, explore traditional arts and crafts, and witness captivating cultural performances.
On December 31st, the festivities will begin at 20:00 with doors opening to the public. A spectacular drone show will be held, depicting a tourist’s journey through the beautiful Maldives. The evening will continue with captivating cultural performances including Boduberu performances, and “Dhafi Negun”. A New Year’s Eve countdown will also take place, culminating in a dazzling fireworks display to welcome 2025.
The celebrations will continue on January 1st 2025 from 16:00 to 22:00, with the festival reopening and featuring food and arts and crafts stalls. A range of family-friendly activities will be available, including a police and fire truck showcase, a climbing wall, a bounce house, and a Transformers display. Additionally, the festival will feature energetic Boduberu performances and an exciting Roboman showcase.
“MMPRC is proud to present the first Maldives Culture and Food Festival,” said Ibrahim Shiuree, CEO and MD of MMPRC. “This event is a key initiative to celebrate the achievements of the Maldives in 2024 and to promote the diverse cultural heritage of the Maldives while providing a memorable experience for locals and visitors. We invite everyone to join us in celebrating the Maldivian spirit as we bid farewell to 2024 and welcome the new year.”
-
Family1 week ago
‘Bunnies Gone Wild’ becomes bold, Playboy-inspired Easter celebration at Mercure Maldives Kooddoo Resort
-
Family1 week ago
Pullman Maldives Maamutaa unveils enhancements for Easter celebrations
-
Cooking1 week ago
Feast for senses: Evolving culinary canvas of Alila Kothaifaru Maldives
-
Family1 week ago
Castaway Easter at RAAYA by Atmosphere
-
Action1 week ago
OBLU NATURE Helengeli, partners to celebrate inaugural Women’s Dive Month in July
-
News1 week ago
Celebrate a family fun summer at The Westin Maldives Miriandhoo Resort
-
News4 days ago
Jennifer Aniston dreams of Maldives escape
-
News1 week ago
Kuda Villingili Resort Maldives recognised as finalist in prestigious SPA Star Awards 2025