Business
No annual growth target for virus-hit China, a first in years
China’s communist rulers avoided setting an annual growth target for the first time in decades Friday, as they struggle to deal with the “immense” economic challenges caused by the coronavirus pandemic.
Analysts say the move points to China missing its key political goal of doubling gross domestic product from 2010 levels, a blow to the ruling party’s pledge to provide prosperity in exchange for unquestioned political power.
The government usually sets economic growth targets that it regularly exceeds.
But this year, given “great uncertainty” caused by the pandemic, Beijing will not set a target but “give priority to stabilising employment and ensuring living standards”, Premier Li Keqiang told the opening of the National People’s Congress.
Before the pandemic, Beijing was widely expected to announce a growth target of around six percent this year.
But with the COVID-19 shock causing economic growth to shrink 6.8 percent in the first quarter, such a target was seen as no longer feasible.
Apart from raising its budget deficit target this year, China will issue another one trillion yuan ($140 billion) of government bonds for COVID-19 control, Li said, calling these “extraordinary measures for an unusual time”.
The added funds will be transferred to local governments, to be primarily used for ensuring employment, meeting basic living needs, and protecting market entities.
Li also said governments at all levels should “tighten their belts”, and that all types of surplus, idle and carryover funds will be withdrawn and re-allocated, to be put to better use.
Beijing will also issue 3.75 trillion yuan ($526 billion) in special local government bonds this year, in part to boost infrastructure spending in the virus-hit economy.
It will make further tax and fee cuts as well to help firms.
China has said it will tap its massive domestic consumer market to support the economy after external demand collapsed.
But the official urban unemployment rate rose to six percent last month, with analysts saying the real figure could be even higher.
Li said the government aims to ensure the urban unemployment rate remains around this figure, through the creation of over nine million new jobs.
- Large price to pay –
The growth target is typically seen as a signal of the resources leaders are willing to spend to shore up the economy.
Tommy Xie, head of Greater China Research at OCBC Bank, told AFP this year’s move is “realistic”, reflecting global uncertainties from both COVID-19 and rising geopolitical tensions.
Analysts, however, believe the country still holds an implicit growth target of two to three percent for 2020, given its ambitious employment goals.
Li said China is “keenly aware of the difficulties and problems” the country faces, with COVID-19 sending the world economy into recession.
Although Beijing had “paid a large price” economically in its virus fight, he added it “was a necessary and worthy price to pay”.
However, Xie said China’s support measures remain below levels seen in other countries, lagging behind a global norm of around 10 percent of GDP.
Using similar guidance, this would translate to around 10 trillion yuan in stimulus.
Instead, Beijing has left itself “an open-ended option” for stepping up fiscal support if the situation worsens, he said.
Song Houze, a research fellow at the Paulson Institute, believes Beijing likely expects a “slow and uncertain” recovery from COVID-19.
Iris Pang of ING told AFP that officials’ support were below her expectations, although the work report tends to understate the fiscal budget — meaning authorities could beef up numbers if jobs do not recover or trade tensions worsen.
She added the report this year made “wise” political choices, given that having no growth target is less damaging than failing to meet a lowered one.
Reporting and photo: AFP
Business
Coca-Cola Maldives launches World Cup-themed promotion
Coca-Cola Maldives is turning up the excitement with the launch of its 2026 football campaign, bringing fans across the country a season packed with prizes, shared moments and exciting ways to celebrate the game together.
As the build-up to the FIFA World Cup 2026 begins, Coca-Cola Maldives is inviting consumers to join in the fun with a campaign built around everything that makes football special: the anticipation, the matchday thrill, the watch parties, the celebrations and the memories made along the way.
From March to May, consumers in the Maldives will have the chance to take part in the Coca-Cola Maldives FIFA World Cup 2026 promotion, with weekly prizes, branded merchandise and a grand prize experience linked to one of the biggest sporting events in the world.
As part of the campaign, Coca-Cola Maldives is rolling out the UTC Promo from March 21 to May 24, giving consumers even more ways to be part of the football excitement. Special promotional packs will feature a unique code either under the cap or under the tab, depending on the product format. For 500ml, 1.25L and 2L PET bottles, codes will appear under the special Golden Caps on Coca-Cola, Sprite, Fanta Orange and Fanta Strawberry. For 330ml cans, codes will appear under the tab on Coca-Cola. Consumers can enter by sending the code via SMS to 2626 for the chance to win a range of prizes throughout the campaign period.
The promotion will run across 330ml cans as well as 500ml, 1.25L and 2L PET bottles, making it easy for consumers to join in whether they are picking up a drink for themselves, sharing with friends, or stocking up for a matchday gathering. With multiple participating brands and pack formats included in the promotion, Coca-Cola Maldives is creating more opportunities for consumers across the country to take part in the campaign and enjoy the football season together.
At the top tier, eight winners will receive an all-expenses-paid experience for two to watch a FIFA World Cup match live, creating a once-in-a-lifetime football moment. Under Tier 2, 60 winners will receive Coca-Cola branded mini-coolers, while 120 winners will take home Coca-Cola branded football-shaped personal coolers. Under Tier 3, 180 winners will receive Coke and FIFA branded footballs, adding even more play and energy to the season.
Adding a live moment to the excitement, the first set of winners will be announced on ICE TV on April 6 at 9pm, with winner announcements continuing every week throughout the promotion. This weekly reveal is set to bring an added sense of anticipation and shared excitement as the campaign unfolds across the Maldives.
The campaign is designed to bring fans closer to the game and make every football moment even more enjoyable. Whether it is watching a match with family at home, catching the action with friends at a café, or picking up a favourite Coca-Cola pack from a neighbourhood store, Coca-Cola Maldives aims to be part of the moments that make football season unforgettable.
“Football has a way of bringing people together like nothing else, and that is what inspired this campaign,” said Mario Perera, Country Head for Sri Lanka and the Maldives. “In the Maldives, the game is enjoyed in such a lively and social way, and Coca-Cola Maldives wanted to create a campaign that feels fun, relevant and easy for people to be part of. It is about celebrating the season, enjoying the experience with others, and giving fans something extra to look forward to.”
Adding to the excitement, Coca-Cola Maldives will also launch collectible country packs in the Maldives from May to July, giving fans the chance to celebrate the global game in a new way. Inspired by some of football’s most recognised nations, these limited-edition packs will bring a colourful and collectible twist to the season.
Across the Maldives, Coca-Cola Maldives will work with retail partners to bring the campaign to life through in-store visibility, promotional touchpoints and selected local activations that capture the spirit of football and community.
“The Maldives is a unique market, and Coca-Cola Maldives wanted this campaign to connect with the way people here enjoy football, together, with energy, and with a real sense of occasion. Coca-Cola Maldives is excited to bring that spirit to life in the months ahead,” added Mario Perera.
This marks the start of Coca-Cola Maldives’ 2026 journey in the market. With more fan moments, more excitement and more ways to join in still to come, Coca-Cola Maldives is looking forward to celebrating the football season with consumers across the country.
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.
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