Business
Big Tech surges as reports impress in coronavirus downturn
(Reuters) – Shares of Apple , Amazon and Facebook surged in extended trading on Thursday, with Alphabet also climbing, as quarterly reports from the Big Tech quartet added fuel to Wall Street’s four-month rally.
With the four companies reporting on the same day for the first time ever, Apple, Amazon and Facebook each jumped 5% or more. Alphabet traded up about 0.5%.
Together, the four account for nearly a fifth of the S&P 500’s stock market value. Index funds tracking the S&P 500 and tech-heavy Nasdaq rose 0.8% and 1.6%, respectively, suggesting traders expect Wall Street to open sharply higher on Friday.
Deemed “stay-at-home” winners as millions of Americans were ordered indoors to contain the COVID-19 pandemic, shares of the largest U.S. technology companies have hit record highs in recent months at a time when the benchmark S&P 500 is up less than 1% on the year and the coronavirus pandemic has thrown the economy into its steepest contraction since the Great Depression.

Thursday’s reports reinforced investors’ expectations that those deep-pocketed companies will emerge from the coronavirus crisis stronger than their smaller competitors.
Apple delivered year-on-year revenue gains across every category and in every geography, as consumers working and learning from home during the COVID-19 pandemic turned to its products and services.
The iPhone maker also announced a four-for-one stock split, as of the start of trading on Aug. 31. Apple’s stock has surged over 300% since its last stock split, in 2014.
Amazon posted the biggest profit in its 26-year history as online sales surged.
With marketers slowing advertising spending due to the economic downturn, Facebook reported an 11% increase in revenue, its slowest growth since its 2012 initial public offer. But it beat analysts’ expectations that revenue would sink 3%, according to IBES data from Refinitiv.
Also hit by the recession, Google-parent Alphabet’s quarterly sales fell for the first time in its 16 years as a public company, but the decline was less than expected as many advertisers stuck with the most popular online search engine during the pandemic.
Alphabet’s Google and Facebook received particularly sharp jabs on Wednesday from Democrats and Republicans in the U.S. Congress who say they have crippled smaller rivals in the quest for market share, the latest blows in an increasingly threatening regulatory landscape.
Prior to Thursday’s after-hours surge, Amazon had gained 64% year to date, while Apple was up 29% and Facebook and Alphabet had each risen about 14%.
“Even the bears will say that these are fantastic companies and they are not going to stop being fantastic,” said Nicholas Colas, co-founder of DataTrek Research.
“The unifying factor is they have the ability to both grow and control their cost structures through the pandemic. That is always a good place to start from when you have a downturn.”
Reporting and photo: Reuters
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.
Action
Ataraxis Grand & Spa hosts integrated work-and-dive corporate retreat in Fuvahmulah
Ataraxis Grand & Spa recently hosted a week-long, closed corporate offsite in Fuvahmulah for a US-based artificial intelligence company, highlighting the island’s growing suitability for integrated work-and-experience retreats. The retreat brought a group of 36 international professionals to the property, which was reserved exclusively for the programme.
Designed as a private company offsite, the stay combined structured daily work sessions with guided diving and beginner-friendly surf experiences, creating a balanced format that blended focused collaboration with physical reset.

A notable component of the programme was dive training and certification. During the retreat, 17 participants completed their Open Water certification, while a further six undertook the Advanced Open Water course, with training and dives scheduled alongside work sessions as part of the integrated itinerary.
Throughout the week, participants worked on-site using dedicated shared spaces supported by reliable high-speed internet, allowing meetings, informal collaboration and scheduled activities to take place within a single, uninterrupted environment. This setup enabled teams to move seamlessly between work periods and organised ocean activities without leaving the property.

Fuvahmulah’s natural and operational advantages formed a key part of the retreat’s appeal. As one of the Maldives’ largest inhabited islands, it offers immediate access to pelagic dive sites, internationally recognised shark diving and surf breaks suitable for instruction, alongside the infrastructure required to support extended group stays.

The offsite reflects a growing preference among technology and knowledge-sector teams for small-scale retreats that prioritise concentrated work environments and team cohesion over traditional conference formats. Such programmes typically involve longer stays and higher per-capita spend, aligning with sustainable, quality-driven tourism models.
The retreat also demonstrates how locally operated properties such as Ataraxis Grand & Spa are supporting this shift by delivering unified environments where accommodation, workspaces, connectivity and curated experiences operate as a single programme rather than separate services.

As organisations continue to explore alternative formats for strategy sessions, team resets and creative offsites, Ataraxis Grand & Spa’s experience positions Fuvahmulah as an increasingly viable destination for integrated corporate retreats.
Ataraxis Grand & Spa offers work-and-dive retreat programmes in Fuvahmulah that combine accommodation, dedicated workspaces, high-speed connectivity and organised diving and surfing.

Further information on retreat formats and dive-inclusive stays is available via the Ataraxis Grand & Spa website.
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