Business
German coalition parties agree 130 billion euro stimulus package
BERLIN (Reuters) – Chancellor Angela Merkel’s ruling coalition on Wednesday agreed a bumper stimulus package to speed up Germany’s recovery from the coronavirus
Speaking at a news conference after marathon talks that extended well into the night, Merkel said the package would amount to 130 billion euros ($146 billion) and include lower value-added tax (VAT) to boost consumption.
“The size of the package will amount to 130 billion euros for the years 2020/2021, 120 billion of which will be spent by the federal government,” Merkel said. “So we have an economic stimulus package, a package for the future.”
The stimulus programme follows a 750 billion-euro rescue package agreed in March which encompassed a debt-financed supplementary budget of 156 billion euros.
Germany’s measures, which together with liquidity aid and loan guarantees equal more than 30% of its economic output, go substantially beyond any other national emergency programmes launched by other euro zone countries.
Merkel said VAT will be reduced from 19% to 16% for six months starting in July 1. A lower VAT rate for hospitality of 7% would be lowered by two points over the same period. The overall cost of the VAT measures amount to 20 billion euros.
Finance Minister Olaf Scholz said the package will be partly financed by additional net new borrowing. Some 60 billion euros of the 156 billion euros in new debt approved in March have not been tapped, he added.
Germany can afford generous spending splurges given it had a balanced budget since 2014 and had a debt to output ratio of 60% before the pandemic, well below euro zone partners like Italy, Spain and France.
“We can do this because we economised well in recent years,” said Scholz. “We want to come out of this crisis with vigour.”
The package also includes at least 10 billion euros a year to help municipalities struggling with lower tax receipts with public spending on infrastructure and housing.
The sheer scale of Germany’s new spending splurge has raised concerns among officials from economically weaker countries that the discrepancy in aid measures could worsen imbalances in the bloc and distort the European Union’s single market.
The measures also include a one-time, 300-euro stipend per child to help families as well as a doubling of incentives to promote the sale of electric cars.
Germany has weathered the crisis better than many of its European neighbours.
Widespread testing, a robust healthcare system and restrictive measures have helped it keep deaths relatively low. The economic impact of the crisis has also been cushioned by a decision to keep factories and construction sites open as well as generous government financial assistance to businesses and freelancers.
The economy is expected to shrink by 6.3% this year, sinking into its worst recession since World War Two.
In a concession to the SPD, Merkel’s conservatives dropped demands for cash incentives to promote the sale of combustion engine cars. The SPD appeared to have partly given up on a 57 billion-euro package to help municipalities, especially those with high debt.
Reporting and photo: Reuters
Business
2 decades of culinary excellence: BBM’s founding legacy with Hotel Asia continues in 2025
Hotel Asia Exhibition and International Culinary Challenge is referred to be the hospitality industry event in the Maldives. In this year’s Culinary Challenge (19 to 22 October 2025) comprising competitions over 20 categories, most will take place at the Faculty of Hospitality and Tourism Studies, Maldives National University, and some at the Synthetic Track, Hulhumalé.

A Founding Partnership that Endures
Since the very first edition in 2001, Bestbuy Maldives (BBM) has played a central role in shaping the International Culinary Challenge into the Maldives’ most prestigious culinary platform. The event has become a cornerstone for professional development, bringing together chefs from across the Maldives to compete, learn, and showcase their craft.

BBM and their associated Principals sponsor an overwhelming majority of categories. “From the beginning, our goal has been to create opportunities for Maldivian chefs to rise to global standards. This partnership has grown with the industry itself,” said A.V.S. Subrahmanyam, Chief Operating Officer of BBM.

Nurturing Local Talent
BBM’s contribution extends beyond sponsorship. The company has built a long-term system for recognizing and developing local culinary talent.
- BBM Chairman’s Trophy for the Best Maldivian Competitor.
- Most Promising Young Chef Award for emerging talent.
- Global exposure programs for Maldivian chefs through sponsored participation in international events.
- Pro-bono Masterclasses with world-renowned chefs to encourage learning and innovation.
Investing in the Future of Hospitality
Through initiatives such as Building Young Talent, BBM continues to mentor aspiring professionals and support the next generation of chefs. The company also promotes inclusivity by sponsoring opportunities for female and young chefs to gain international exposure.
BBM’s industry partnerships include its role as Title Sponsor of the Hotelier Maldives Awards, celebrating excellence across the Maldivian hospitality sector.

Proud Sponsors of Culinary Excellence
In 2025, BBM and its partner brands proudly sponsor 14 competition categories and 8 Main Awards, further strengthening their role in the development of culinary arts in the Maldives. Categories include Decorated Cake, Artistic Showpiece, Bread and Pastry Display, Three Desserts (Display), Desserts, Rice Dish, Asian Noodles, Team Challenge, Maldivian Dish, Creative Sandwich, Young Chef, Tea Challenge, tapas/finger food, and Iced Mocktail.
Business
Bestbuy Maldives, MNU forge partnership to advance hospitality education
The Maldives National University – Faculty of Hospitality and Tourism Studies (MNU-FHTS) and Bestbuy Maldives (BBM) have officially signed a Memorandum of Understanding (MoU) to strengthen industry-academic collaboration and advance hospitality education in the Maldives.
The MoU was signed by Dr Aishath Shehenaz Adam, Vice Chancellor of MNU, and Ismail Hilmy, Chairman and Managing Director of BBM, during a ceremony attended by the university’s Chancellor Dr Mahmood Shaugee, senior management, and representatives from both organisations.
This partnership marks a significant milestone in developing a state-of-the-art Food and Beverage Practical Demonstration Kitchen at MNU-FHTS. BBM will support the upgrading of the existing Garde Manger kitchen and classrooms, contributing financially and materially to create a modern, industry-standard learning environment for future hospitality professionals.
Beyond infrastructure, the collaboration will extend to academic and training support, research and innovation in culinary arts, community engagement, and professional networking opportunities, ensuring that students gain practical, real-world experience aligned with industry expectations.
Highlighting the broader purpose of this partnership, BBM stated that, “This is a significant step in the direction of BBM’s vision involving hospitality industry outreach in the Maldives — because tomorrows start today. Initially, we will set up a world-class model kitchen that will be suitable for masterclasses and hands-on training for students; and also for product demonstrations, masterclasses, and interaction with groups of customers.”
Speaking at the ceremony, representatives from both institutions emphasised their shared vision to promote excellence in education, innovation, and human capital development in the Maldivian hospitality sector. This partnership underscores BBM’s continued commitment to supporting education and industry growth, and MNU-FHTS’s mission to bridge the gap between academia and industry — nurturing the next generation of hospitality leaders in the Maldives.
Business
SATA 2025 announces partnerships; confirms Hotelier Maldives, Maldives Insider as Media Partners
Hotelier Maldives and Maldives Insider have been confirmed as official Media Partners of the South Asian Travel Awards (SATA) 2025. The announcement was made during a signing ceremony held at Hulhulé Island Hotel, Maldives, where SATA unveiled its distinguished partners for the 9th edition of the annual awards.
Now in its ninth year, SATA has become a key platform for recognising excellence in South Asia’s tourism and hospitality sector. The partnership with Hotelier Maldives and Maldives Insider will strengthen the awards’ regional visibility and ensure extensive coverage of the event across Maldives and beyond.

This year’s awards ceremony will take place from 19th to 20th September 2025 at Cinnamon Grand Colombo, Sri Lanka, bringing together industry leaders, stakeholders, and innovators from across South Asia.
In addition to the media partnership, SATA 2025 also announced its corporate partners. Honda Marine has been named the Platinum Partner, while The Hawks, Velana International Airport, and Allied Insurance Company of the Maldives join as Gold Partners. Renaatus Realty has been confirmed as the Silver Partner, and Hulhulé Island Hotel continues as the official Hospitality Partner in the Maldives.

Speaking at the ceremony, SATA organisers noted that the strong lineup of partners reflects the growing importance of collaboration within the tourism and hospitality industry. With the support of its partners, SATA 2025 aims not only to celebrate outstanding achievements but also to foster long-term cooperation and sustainable growth in the region’s tourism sector.
The awards are endorsed by leading national tourism bodies and associations across South Asia, including the Sri Lanka Tourism Development Authority, Nepal Tourism Board, Visit Maldives Corporation Limited, and several travel and hotel associations across the region.

This year’s evaluation process was conducted by a panel of nine jury members representing different countries, including tourism leaders from India, Sri Lanka, Bangladesh, Nepal, Bhutan, Spain, and the Maldives.
Through partnerships with media outlets such as Hotelier Maldives and Maldives Insider, SATA 2025 will ensure broad engagement across key markets, strengthening its position as one of South Asia’s most prestigious hospitality and travel award platforms.
-
News1 week agoAutograph Collection Hotels debuts in Maldives with The Halcyon Private Isles: Signature retreat of individuality, immersion
-
Awards1 week agoCentara Mirage Lagoon Maldives wins top family hotel honour at Little Steps Family Travel Awards
-
News1 week agoSO/ Maldives rolls out red carpet for spectacular festive season
-
Action1 week agoAyada Maldives: Sanctuary where ocean conservation shapes every experience
-
Drink1 week agoOZEN RESERVE BOLIFUSHI celebrated for wine perfection at global awards
-
Action7 days agoNew Year’s voyage of indulgence: InterContinental Maldives Maamunagau’s private yacht experience with Chef Tom Aikens
-
News1 week agoThe Ritz-Carlton Maldives, Fari Islands invites guests to Celestial Festive journey beyond horizon
-
News1 week agoThe Standard, Maldives launches ‘We Got You Covered’ campaign to ensure seamless stay, rain or shine


