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
BBM’s ‘Studio of Culinary Excellence’ opens at MNU to bridge classroom, industry
The best way to secure the future is to create it.
Creating that future through specific, purposeful initiatives is what drives people of purpose—and, in turn, moves us all closer to the future we desire.
The Maldives is a compelling case study of a tourism-driven economy. Look around and ask why an event is being staged, what someone is working on, or where a new initiative is leading, and the answer will often point to the hospitality sector. Securing the future, therefore, is inextricably linked to strengthening and advancing that sector.

Here, “strengthening” means making the sector’s contribution more sustainable; ensuring that a greater share of its growth benefits the community; continuing to offer a compelling value proposition to the discerning global traveller; and ensuring that visitor experiences continue to generate an unparalleled reputation and valuable referrals.
To achieve these outcomes in the future, it is essential that current and future generations of the local community engage actively with the industry. Making hospitality appealing and aspirational, enhancing the quality of delivery and service, and building a pipeline of skills and talent into the sector are areas in which initiatives, inspiration, infrastructure and investment should be concentrated.

It is firmly in this context that Mr Ismail Hilmy, Chairman and Managing Director of BBM, initiated the establishment of a modern, exceptionally well-equipped and thoughtfully designed model kitchen, aptly named the Studio of Culinary Excellence. By donating the Studio to MNU, under whose auspices it will serve the Maldivian culinary community, Mr Hilmy is responding directly to the need for deeper community engagement. At the heart of BBM’s framework for industry-outreach initiatives— “Because tomorrows start today”—is Mr Hilmy’s ethos of fostering engagement and vibrancy in the industry.
“For our students, the gap between the classroom and a working resort kitchen has always been the hardest one to close,” said Dr Shehenaaz Adam, Vice Chancellor of the Maldives National University. “The Studio of Culinary Excellence closes that gap. Students can now train on the same equipment and to the same standards they will encounter on their first day in the industry. We are grateful to BBM for a partnership that goes well beyond a donation, and we look forward to the Studio becoming a place where the university and the industry learn from one another.”

The Studio therefore creates an opportunity to develop a pipeline of skills and talent in service of the industry.
“Embedding purpose in our work has been an ongoing endeavour at BBM. It keeps us connected to our stakeholders and builds insight, understanding and trust. Being a meaningful partner to academia as we move into the future gives us a great sense of fulfilment and guides our initiatives under the banner, ‘Because tomorrows start today,’” said AVS Subrahmanyam, Chief Operating Officer of BBM.
But what is the value of physical infrastructure without the corresponding spark of aspiration and ambition?

As Ali Afrah Hassan, Executive Representative at Chairman’s Office – BBM, aptly observed: “The Studio offers students and members of the community hands-on experience with world-class equipment, together with knowledge-sharing masterclasses. Who knows—in the not-too-distant future, a Michelin-starred Maldivian chef may fondly credit some of their inspiration to time spent at the Studio!”
Now that is the mind and heart in sync—working towards a future that is aspirational, ambitious and entirely attainable.
Business
BBM Hulhumalé Phase 2 opening promotion winner receives Honda Airblade
Bestbuy Maldives (BBM) has presented a brand-new Honda Airblade motorbike to the winner of a lucky draw held to mark the opening of its newest wholesale outlet in Hulhumalé Phase 2.
The outlet, located at Lot 20286 on Nirolhu Magu, opened on 16 February 2026 as part of BBM’s expansion of its wholesale operations.
To celebrate the opening and thank customers for their continued support, BBM introduced a special lucky draw exclusively for customers who made purchases from the new outlet on its opening day.

Customers who purchased products during the opening were eligible to enter the draw, with a Honda Airblade motorbike offered as the grand prize.
The lucky draw was conducted on 13 August 2026, with Ibrahim Shifaz of Vagthun Vaguthah outlet selected as the winner.
Shifaz was recently presented with the ceremonial key to the Honda Airblade by AVS Subrahmanyam, Chief Operating Officer of Bestbuy Maldives.

The promotion formed part of BBM’s activities surrounding the opening of its Hulhumalé Phase 2 outlet, which provides customers with access to the company’s range of wholesale products from the growing residential and commercial area.
Bestbuy Maldives is a supplier and distributor serving businesses across the Maldives, including customers in the hospitality, food service and retail sectors.
Business
Football legends receive FIFA World Cup 2026 match balls signed by President Muizzu
Male’ Aerated Water Company (MAWC), the authorised bottler of The Coca-Cola Company in the Maldives, on Thursday hosted the Official FIFA World Cup 2026™ Match Ball Handover Ceremony, presenting Football Legends of Maldives with official FIFA World Cup 2026™ match balls signed personally by Dr Mohamed Muizzu, President of Maldives.
Held in partnership with the Ministry of Youth Empowerment, Sports and Fitness, the ceremony recognised former national footballers whose achievements, service and influence have helped shape football in the Maldives and inspired generations of players and supporters.
The Coca-Cola Company has been an official partner of FIFA since 1974, making it one of the longest-standing partnerships in the global sport. For MAWC, the handover brought that global partnership to life locally by connecting the FIFA World Cup with people who have contributed to Maldivian football history.
As the sole authorised Coca-Cola bottler in the Maldives for over 35 years, MAWC has supported local sport through partnerships, campaigns and community initiatives. The ceremony continued that commitment by recognising the legacy of players who represented the Maldives and contributed to the growth of football in the country.
“Maldives’ football legends have given generations of supporters moments of pride and have played an important role in shaping the country’s sporting history. At MAWC, we believe recognising their contribution is as important as supporting the next generation. Through our partnership with Coca-Cola and FIFA, and in collaboration with the Ministry of Youth Empowerment, Sports and Fitness, we are honoured to celebrate their legacy. These match balls are a token of our appreciation for what they have given to Maldivian football,” said Milind Derasari, Chief Operating Officer, MAWC.
Adding to the excitement of the football season, MAWC ran a nationwide FIFA World Cup 2026™ consumer promotion from 21 March to 24 May 2026. Eight winners received an all-expenses-paid experience for two to attend a FIFA World Cup 2026™ match. Hundreds more won Coca-Cola branded merchandise and other prizes during the campaign, bringing the excitement of the world’s largest football tournament to consumers across the Maldives.
MAWC remains committed to building partnerships that support the development of sports across the Maldives, working with the Government of Maldives and other partners.
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