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Competition in Mauritius banking sector may stifle growth, warns report

The Mauritian banking industry is expected to face difficulties in domestic growth with an increasing number of players in an already highly competitive market, said a report.  As two main banks control 57% of total bank assets, there is strong competition in order to increase or maintain market share domestically, noted the report by Anglo-Mauritius Stockbrokers on the banking industry in Mauritius. Moreover, investment, which is of particular concern to

MRA amends Form 1A; to allow tax payment by credit card soon

Mauritius taxpayers can expect to settle taxes more conveniently as not only has Form 1A been amended to let employees with other source of revenues declare them easily, but taxpayers can also use credit cards to make tax payments, starting March. Sudhamo Lal, director of the Mauritius Revenue Authority, pointed out during a press conference yesterday that some Mauritians, for instance teachers, have other source of revenue such as private

World’s leading legal network Globalaw forays into Mauritius

Globalaw, an international network of independent law firms, has extended its reach to Mauritius by adding 5 St James Court to its network. Mauritian law firm 5 St James Court comprises a set of rising and senior self-employed barristers who offer expertise in all aspects of law in Mauritius. They provide special focus on Arbitration, Banking, Civil Law, Commercial Law, Company Law, Insolvency, Financial Services, Trusts and Tax. Following on

Mauritius airport aims to boost efficiency through globally certified programme

Airports of Mauritius Limited (AML) has decided to embark on the APEX (Airport Excellence in Safety) programme which is the global benchmark for airports worldwide for operational efficiency and safety standards. The APEX Programme is based on the International Civil Aviation Organisation (ICAO) standards as well as Airports Council International (ACI) best practices. It combines the mandate for regulatory compliance with the day to day operational needs of airports to

Air Mauritius et Air France scellent un nouveau pacte

Les noms Emirates, Qatar Airways et Air France étaient évoqués. C’est finalement le transporteur français qui scellera ce vendredi un nouveau partenariat stratégique pour une collaboration « élargie et renforcée » avec Air Mauritius. Dont il contrôle déjà 8,5% de l’actionnariat. C’est le Président directeur général d’Air France KLM en personne, Alexandre de Juniac, qui se déplace à Maurice pour procéder à la signature de l’accord. Rien ne transpire toutefois sur les

Mauritius’ BPML to set up industrial park at Solitude soon

The Business Parks of Mauritius Ltd (BPML) has embarked on a new project to construct an industrial park at Solitude, targeted at enterprises operating in the civil engineering space. The construction works will begin in six months for the business park to be operational by the start of next year. After Ébène and Rose-Belle, it is now Solitude’s turn to have an industrial park set up by the BPML on

Mauritius farmers to benefit from national wholesale market soon

Farmers in Mauritius will now have greater control over sale of agricultural produce as the construction of a National Wholesale Market for fruits and vegetables finally appears to be evolving in the right direction. The process of selection of the right consultancy firm for implementing the project has advanced another step as three consultants with the best evaluated bid have been retained. It may be noted that the Ministry of

Restructuring approved: Mauritius Meat Authority to stop bleeding state exchequer

The Cabinet has approved the proposal to restructure the struggling Mauritius Meat Authority (MMA) which, once implemented, is expected to generate a net cash surplus as from this year and an annual average of Rs 4 million over the next four years. The MMA’s financial difficulties have continued despite various measures taken to recover its operational efficiency and for this reason the Office of Public Sector Governance (OPSG) had made

EU grants Mauritius Rs 1.1 billion for economic and social reforms

Keeping up its support to the island economy, the European Union (EU) has granted Mauritius €27.2 million (Rs 1.12 billion) to support its economic and social reform programme. An official statement issued by the EU Delegation in Port Louis noted that this grant of Rs 1.1 billion is the disbursement of the first tranche of its general budget support programme titled ‘Promoting Sustainable and Equitable Development Phase II’ (PSED II).

Mauritius trade deficit for November down 23% as exports rise

Mauritius trade deficit for November stood at Rs 7.99 billion ($264 million), down 23.2% compared to the year-ago period, on the back of higher exports, according to Statistics Mauritius data released yesterday. However, the trade deficit, representing the gap between export and import of goods, was higher by 18.3% on a month-on-month basis for November 2013, compared to October 2013. Revenues from sales of machinery and transport equipment drove up

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