Business
EU reaches historic deal on pandemic recovery after fractious summit

BRUSSELS (Reuters) – European Union leaders clinched an historic deal on a massive stimulus plan for their coronavirus-throttled economies in the early hours of Tuesday, after a fractious summit lasting almost five days.
The agreement paves the way for the European Commission, the EU’s executive, to raise billions of euros on capital markets on behalf of all 27 states, an unprecedented act of solidarity in almost seven decades of European integration.
Summit chairman Charles Michel called the accord, reached at a 5.15 a.m. (0315 GMT), a pivotal moment for Europe.
Many had warned that a failed summit amid the coronavirus pandemic would have put the bloc’s viability in serious doubt after years of economic crisis and Britain’s recent departure.
World shares climbed to their highest since February and the euro briefly hit its strongest since March on news of the deal.
“This agreement sends a concrete signal that Europe is a force for action,” a jubilant Michel told reporters.
French President Emmanuel Macron, who spearheaded a push for the deal with German Chancellor Angela Merkel, hailed it as truly historic.
Leaders hope the 750 billion euro ($857.33 billion) recovery fund and its related 1.1 trillion euro 2021-2027 budget will help repair the continent’s deepest recession since World War Two after the coronavirus outbreak shut down economies.
Germany Economy Minister Peter Altmaier said that, with the agreement, the chances of “a cautious, slow recovery” in the second half of this year had increased enormously.
While strong in symbolism, the deal came at the cost of cuts to proposed investment in climate-friendly funds and did not set conditions for disbursements to countries, such as Hungary and Poland, seen as breaching democratic values.
In an unwieldy club of 27, each with veto power, the summit also exposed faultlines across the bloc that are likely to hinder future decision-making on money as richer northern countries resisted helping out the poorer south.
The Netherlands led a group of so-called frugal states with Austria, Sweden, Denmark and Finland, insisting that aid to Italy, Spain and other Mediterranean countries that took the brunt of the pandemic should be mainly in loans, not in non-repayable grants.
“There were a few clashes, but that’s all part of the game,” said Dutch Prime Minister Mark Rutte, describing a warm relationship with his Italian counterpart, Giuseppe Conte.
But Austrian Chancellor Sebastian Kurz said the frugals’ negotiating power was here to stay, suggesting Europe’s traditional Franco-German engine will be challenged.
Almost a summit record
Frictions peaked on Sunday night as Macron lost his temper with the frugals, diplomats said, and Polish Prime Minister Mateusz Morawiecki branded them “stingy, egotistic states”.
The bickering spun the summit out, making it the EU’s second-ever longest, just 20 minutes short of a record set in 2000 in Nice, according to Rutte. “We would have broken the record at 6:05, but we ended at 5.45,” he said.
Under the compromise, the Commission will borrow 750 billion euros using its triple-A debt rating, disbursing 390 billion in grants – less than the originally targeted 500 billion – and 360 billion in cheap loans.
Given the difficulties, talk of Europe’s Hamilton moment – hailed as such by German Finance Minister Olaf Scholz on Monday in reference to Alexander Hamilton’s decision to federalise debts of U.S. states in 1790 – is overblown.
The summit deal does not set the EU on the path towards a U.S.-style fiscal union, although some see it as a first step.
Rutte’s negotiations won an emergency brake to temporarily stop transfers of money from the recovery fund if an EU state was seen as not meeting reform conditions tied to the money.
The frugals also secured larger rebates from the next EU budget, a payback mechanism first won by Britain in the 1980s and which France had hoped to phase out after Brexit.
The recovery plan now faces a potentially difficult passage through the European Parliament and it must be ratified by all EU states. The first money will likely not reach the real economy before the middle of next year, economists say.
Reporting and photo: Reuters
Business
2025 sees Maldives reach 1 million tourist mark in record time

Maldives has welcomed its 1 millionth tourist of 2025 on 7th June 2025, the fastest that the country has achieved a million tourists in our nation’s history.
Kajal Singh, an Indian national, arrived in the Maldives today on IndiGo flight 6E 1131 at 12:55. She is visiting for her honeymoon at Bandos Maldives. This is her first trip to the Maldives.

Visit Maldives, in collaboration with the Ministry of Tourism and Environment and Maldives Airports Company Limited (MACL), hosted a special celebratory event at Velana International Airport to commemorate this remarkable achievement.
“This milestone fills us with immense pride, reflecting the successful culmination of our destination marketing initiatives that showcase the true essence of the Maldivian experience,” stated Minister for Tourism and Environment Thoriq Ibrahim. “Welcoming one million tourists with such unprecedented speed is a powerful indicator of our global appeal, and I extend my sincere appreciation to all the hardworking individuals across the tourism sector whose dedication made this achievement possible.”

In a gesture highlighting the nation’s commitment to environmental sustainability, the one millionth visitor, Kajal, was invited to participate in the “Five Million Trees Planting Program” initiated by President Dr. Mohamed Muizzu. Kajal planted a tree at Hulhulé as part of this nationwide effort to combat climate change, enhance biodiversity, and promote a greener Maldives for future generations.
“This achievement is a clear indicator that we are well on our way to attaining H.E President Dr Mohamed Muizzu’s national tourist arrival target of 2.3 million for this year,” said CEO & MD of MMPRC Ibrahim Shiuree. “We are thrilled to celebrate this milestone with all our stakeholders, whose dedication and hard work are invaluable. Our commitment doesn’t end here; we are continually working to enhance the Maldives’ tourism industry and ensure the Sunny Side of Life remains a dream destination for everyone.”

The arrival of the 1 millionth tourist in 2025 marks a proud moment for Maldivian tourism, symbolizing the robust momentum generated by MMPRC’s strategic promotional efforts. Building on the resounding success of the recent Arabian Travel Market (ATM) 2025, where the Maldives captivated the global travel trade community with its powerful and immersive showcase, this milestone highlights the effectiveness of our enhanced global visibility and affirmed key industry partnerships.
Complementing these efforts, the ongoing comprehensive Summer Campaign, with its multi-market strategy spanning Europe and key international markets, is actively driving increased visibility and stimulating early bookings for both the summer and upcoming winter seasons. MMPRC’s marketing initiatives such as high-impact campaigns, strategic partnerships, and targeted outreach are significantly enhancing the Maldives’ global brand, boosting booking confidence, and solidifying its position as a leading, year-round holiday destination.
Business
BBM: Stronger hospitality platform via Hotelier Maldives Awards, culinary development

Since 1990, Bestbuy Maldives (BBM) has been at the core of the Maldives’ hospitality supply chain. More than a distributor, BBM has become a trusted partner in shaping talent, raising standards, and building long-term capacity across the industry.
That commitment continues in 2025 through its title sponsorship of the Hotelier Maldives Awards, and its growing investment in culinary development and cross-industry collaboration.
Supporting the Ecosystem, Not Just the Event
BBM is the preferred partner for over 60 international brands. However, its true value lies in how it supports the people behind the brands. From chefs and service staff to back-of-house professionals, BBM works across the sector to create real impact.
This year, the Hotelier Maldives Awards 2025 expands its recognition with four new categories:
- Watersports Personality of the Year
- Diving Personality of the Year
- Airport Representative of the Year
- Resort Manager of the Year
These additions reflect a simple belief. Everyone who shapes the guest experience deserves to be seen. Not just the visible few. Everyone.
Hotel Asia and the Rise of Culinary Confidence
For more than two decades, BBM has served as the main sponsor of the Hotel Asia Exhibition and International Culinary Challenge, endorsed by the World Association of Chefs Societies (WACS).
This platform has consistently raised the bar by bringing over 25 WACS A-Grade international jurors to the Maldives each year. Through this effort, local chefs get to test their skills on a global scale.
To further encourage excellence, BBM launched the Chairman’s Trophy, awarded annually to the most promising Maldivian chef:
- 2023 — Chef Mohamed Adhil
- 2024 — Chef Ahmed Mazim
Each name marks a growing movement. Maldivian chefs no longer compete to participate. They compete to win.
Backing Global Exposure for Local Talent
BBM has directly sponsored Maldivian chefs to represent the country at global events, including:
- HOFEX 2017 in Hong Kong, where Chef Ahmed Fatheen and Chef Ismail Naseer earned silver
- La Sial 2018 in Abu Dhabi, where Chef Mohamed Adhil won both gold and silver
- FHA 2018 in Singapore, supporting emerging talent
- Asian Pastry Cup 2018, where Chef Aminath Hameed was recognized as a pioneering female chef
- Chinese Cuisine World Championship 2019, where Chef Ahmed Mazim won bronze
- World Chefs Congress and Expo 2022, where BBM sponsored six MNU students under its Building Young Talent initiative
Creating Spaces for Knowledge Transfer
Beyond competitions, BBM hosts world-class chefs to lead pro bono Masterclasses, including:
- Chef Bruno Ménard, holder of three Michelin stars
- Chef Edwin Leow, gold medalist at the IKA Culinary Olympics
These sessions are designed to be open, practical, and rooted in the everyday reality of resort kitchens.
Recognition with Purpose
BBM’s sponsorship of the Hotelier Maldives Awards 2025 is part of a larger support system. These awards are not marketing. They are memories. They capture the faces, names, and efforts of those who make the Maldives one of the most admired hospitality destinations in the world.
“When people are seen, they rise,” said Ali Afrah Hassan, Head of HR, Admin, and Corporate Affairs at BBM. “This platform is our way of saying you matter. Not just once a year, but every day you show up to serve.”
Whether through product support, recognition, training, or infrastructure, BBM is building something larger than supply chains. It is helping shape the culture of Maldivian hospitality.
Business
Dubai Chocolate Brownies in Maldives: BBM, Dreidoppel conclude pastry tour

BBM’s exclusive Dreidoppel Demo Tour, led by Master Pâtissier Frankie Robin, concluded successfully on Apr 30th, after a 10-day pastry training series across 15 leading Maldivian resorts that requested the training. Two city bakeries were also trained on the 30th. The initiative brought together global expertise and a strong commitment to raising pastry standards in the local hospitality industry.
This year’s sessions focused on practical pastry solutions using Dreidoppel’s premium ingredient range to create Panettone, Dubai chocolate brownies, Mousses, Crème Brûlée, Fill & Gloss applications, and Caramel Chocolate Snacks.

A standout feature of the tour was the passion shown by young chefs across the islands.
Chef Frankie Robin remarked, “What truly impressed me was how prepared and passionate the young chefs were. Their eagerness to learn, experiment, and take their skills to world-class standards made every session an absolute joy.”

Grounded in real kitchen challenges—speed, flavour, and efficiency—Chef Frankie’s demos showcased how smart ingredient choices can drive both creativity and performance.
A.V.S. Subrahmanyam, Chief Operating Officer at BBM, added, “At BBM, we believe in more than just supplying ingredients—we are committed to the professional growth of the industry. Collaborations like this empower culinary teams with global techniques and greater confidence.”
The tour reflects BBM’s ongoing efforts to strengthen the Maldivian foodservice industry through knowledge-sharing and access to world-class products.
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