Business
New virus outbreak dashes hopes for quick Hong Kong economic recovery
HONG KONG (Reuters) – Hong Kong’s long recession showed some signs of easing in the second quarter as coronavirus restrictions were lifted, but a quick recovery is now in doubt as a fresh wave of infections prompt the government to impose tough new health measures.
The economy contracted 9.0% in April-June from a year earlier, shrinking for the fourth quarter in a row and the second biggest drop on record, government advance estimates showed on Wednesday.
But activity picked up markedly from a slump early in the year as anti-virus measures were gradually relaxed and people returned to offices and stores. Gross domestic product (GDP) eased just 0.1% from the first quarter, compared with a revised 5.5% drop in the previous three months.
However, a sharp spike in COVID-19 cases in recent weeks is now clouding the outlook for a recovery anytime soon.
On Monday, the government announced it was banning gatherings of more than two people and closing down restaurant dining, as leader Carrie Lam warned the city is on the brink of a large-scale outbreak.
“Not only are the new measures stricter than those implemented earlier in the year – and are therefore likely to weigh more heavily on consumption – but the higher number of infections means that the measures are likely remain in place for a while,” Martin Rasmussen, China economist at Capital Economics, said in a note to clients.
“That will postpone the recovery in consumption, and put additional pressure on employment and incomes, dampening the boost from government cash handouts,” the consultancy said, which sharply downgraded its 2020 GDP growth forecast from -4.5% to -8.0%.
The global financial hub’s economy was already reeling from often violent anti-government protests late last year and the U.S.-China trade war.
The advance readings showed consumption and investment remained weak in the second quarter, though activity likely drew some support from a strong bounce in China’s economy and from the Hong Kong government’s stimulus measures.
The economy had contracted a revised 9.1% in January-March year-on-year, the worst drop on record, according to the estimates released on Wednesday.
“Consumption of services, which is very important to the Hong Kong economy, hasn’t come back. We are now (in July) in a worse shape than we were in Q2,” said Iris Pang, chief economist for Greater China at ING.
Longer term, questions are being raised about Hong Kong’s role as a leading international finance centre, after Beijing imposed a sweeping new security law on the city on July 1, heralding a more authoritarian era for China’s freest city.
The law, which critics say is curbing the freedoms that helped Hong Kong prosper, has prompted Washington to strip the semiautonomous city of its special status in U.S. law that gave it preferential treatment from the rest of China.
Local and Beijing authorities say the legislation was vital to plug national security loopholes and it would in fact bring back stability and prosperity to the former British colony.
“Once the local epidemic is contained again and external environment continues to improve, the Hong Kong economy hopefully will gradually recover in the rest of the year,” a government spokesman said in a statement.
The government reiterated its forecast that the economy would contract by 4% to 7% this year.
Reporting and photo: Reuters
Business
BBM renews as Title Partner of Hotelier Maldives Awards under multi-year agreement
Hotelier Maldives has announced Bestbuy Maldives (BBM) as the Title Partner of Hotelier Maldives Awards 2026 under a multi-year agreement, reaffirming one of the longest-standing partnerships behind the publication’s flagship hospitality recognition platform.
The 2026 edition marks the third consecutive year that BBM has served as Title Partner of Hotelier Maldives Awards, having supported the event in the same capacity since its launch in 2024. BBM has also backed Hotelier Maldives’ second flagship event, GM Forum, every year since 2023, with 2026 set to mark its fourth year as a Silver Partner of the forum.
The continued partnership reflects a shared commitment to recognising the people behind the Maldives’ tourism industry while supporting platforms that encourage industry dialogue, leadership and professional development.
Hotelier Maldives Awards 2026 entered its public voting phase on 15 March 2026, with voting set to remain open for one month. Winners will be announced at the gala ceremony on 26 April 2026 at NIVA Kurumba Maldives.
Commenting on the partnership, Ali Naafiz, Editor of Hotelier Maldives, said: “BBM has been a valued partner of Hotelier Maldives Awards since the very beginning, and we are pleased to formalise this continued support through a multi-year agreement. Their decision to return as Title Partner for a third consecutive year reflects not only the strength of our relationship, but also a shared belief in the importance of recognising the people who drive excellence across the Maldives’ hospitality industry.
“BBM has also consistently supported GM Forum over the years, making them one of the most committed partners across our event platforms. We are proud to continue working together as we strengthen both Hotelier Maldives Awards and GM Forum as annual fixtures for the industry.”
AVS Subrahmanyam, Chief Operating Officer of BBM, said: “At BBM, we have always believed that a strong hospitality industry is built by strong people, and Hotelier Maldives Awards provides an important national platform to recognise the professionals whose work often takes place behind the scenes. We are pleased to continue as Title Partner of the awards under this multi-year agreement, while also extending our support to GM Forum for a fourth consecutive year.
“As a company that has grown alongside the Maldives’ hospitality sector, we value opportunities that celebrate talent, encourage professional pride and contribute to the long-term development of the industry. Our continued partnership with Hotelier Maldives reflects that commitment.”
Bestbuy Maldives is one of the country’s leading importers and distributors, serving the hospitality, HORECA and retail sectors with a broad portfolio of international brands. The company positions itself as a partner to the Maldivian hospitality industry, supplying products from around the world across key business verticals including resorts, foodservice and retail.
Hotelier Maldives Awards continues to recognise the contributions of resort-based hospitality professionals across the Maldives, highlighting both individual excellence and team performance. The awards programme remains the country’s only dedicated recognition platform focused on professionals working in resort operations. The current public voting round allows industry stakeholders, colleagues, guests and the wider public to take part in selecting this year’s winners.
The growing list of confirmed partners for Hotelier Maldives Awards 2026 includes Bestbuy Maldives (BBM) as Title Partner, Dhiraagu as Platinum Partner, Storm Events as Organising Partner, NIVA, Kurumba Maldives as Host Partner, Souvenir Marine as Transport Partner, ALIA as Associate Sponsor, and Lightsout Studios as Associate Partner. More partners and sponsors will be announced soon.
Business
Feydhoo Hall opens at dusitD2 Feydhoo Maldives as new event space
Dusit International, one of Thailand’s leading hotel and property development companies, has announced the opening of Feydhoo Hall, a landmark event venue at dusitD2 Feydhoo Maldives, redefining the possibilities for meetings, celebrations, and destination events in the Maldives.
Designed to bring scale, flexibility, and creativity to island gatherings, Feydhoo Hall represents a bold step forward in positioning the Maldives as a dynamic destination for conferences, weddings, and large-scale social occasions.
Feydhoo Hall offers a versatile event complex designed to accommodate a wide range of gatherings, from corporate meetings and conferences to weddings and social celebrations.

At its core is the 390 sqm Main Hall, capable of hosting:
- Up to 300 guests in theatre-style setup
- Up to 240 guests for dining and banquet-style events
- Up to 200 guests for cocktail-style receptions
- Up to 144 guests in cluster-round configuration
Enhancing the flexibility of the venue are additional dedicated spaces, including:
- A 110 sqm Veranda Terrace, ideal for welcome receptions, breakout sessions, and pre-event gatherings, accommodating up to 100 guests for cocktail-style events.
- A spacious 1,000 sqm Lawn Space, perfect for large-scale outdoor celebrations, destination weddings, and open-air events, accommodating up to 400 guests for cocktail receptions and up to 350 guests for dining setups.
- The 55 sqm Ekugai Meeting Room, designed for smaller meetings and executive sessions, accommodating up to 30 guests in theatre or dining setup and 24 guests in cluster-round format.
Together, these integrated spaces create a seamless indoor-outdoor event experience, allowing planners to design dynamic and personalised event journeys.
True to the dusitD2 brand’s lifestyle-driven philosophy, Feydhoo Hall introduces a fresh approach to meetings and events — where productivity meets creativity in an inspiring island setting.
The venue offers flexible meeting formats designed to suit different event needs, including:
- Half-Day Meeting Package (4 hours) — ideal for focused sessions, executive meetings, and creative workshops.
- Full-Day Meeting Package (8 hours) — designed for immersive conferences, extended workshops, and large-scale corporate gatherings.
These thoughtfully structured packages provide planners with the flexibility to create impactful and seamless experiences, whether hosting intimate strategy sessions or dynamic full-day events.

Located just seven minutes by speedboat from Velana International Airport, dusitD2 Feydhoo Maldives combines accessibility with vibrant lifestyle energy, offering event planners and guests a rare balance between convenience and tropical escape.
With the introduction of Feydhoo Hall, the resort strengthens its position as a versatile destination — not only for leisure travellers but also for international conferences, creative retreats, luxury weddings, and large-scale social celebrations seeking something refreshingly different in the Maldives.
Business
BBM expands retail presence with new Hulhumalé outlet
Bestbuy Maldives (BBM) opened a new wholesale store in Hulhumalé Phase 2 on Monday.
The outlet is located on the ground floor of Lot 20286, Nirolhu Magu, and is intended to improve access to BBM’s imported goods for residents of Hulhumalé Phase 2 and for businesses operating in the area.
According to the company, the opening forms part of its plan to expand services closer to customers in line with population growth in Hulhumalé.
With the opening of the new store, BBM’s full range of imported and distributed products will be available at the Hulhumalé Phase 2 location. These include consumer goods from international brands such as Lifebuoy, Vaseline and Unilever.
The store will also stock wholesale food products from brands including Daily, Cavin’s and Redman.
BBM has supplied goods to resorts, hotels and retail outlets across the Maldives for several years.
-
Family1 week agoFrom egg hunts to island feasts: Easter at Centara Maldives Resorts
-
Awards6 days agoCentara Grand Lagoon Maldives ranked among DestinAsian’s Top 10 Maldives resorts
-
News5 days agoMilaidhoo Maldives included in Tatler Travel Guide 2026’s top hotels
-
Family1 week agoEaster at Meyyafushi Maldives blends family fun, dining and island experiences
-
Action5 days agoCinnamon Dhonveli Maldives expands sustainability efforts with coral restoration
-
Family1 week agoAyada Maldives presents Easter week of family and wellness activities
-
News1 week agoGrand Park Kodhipparu Maldives launches ‘Connected Island Luxury’ brand positioning
-
Family1 week agoCelebrate Easter in Maldives with Cinnamon Hotels & Resorts


