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Vanilla Islands’ representatives meet at 2014 ITB Tourism Trade Fair

The Mauritius stand at the Internationale Tourismus Börse (ITB) Berlin, one of the most important tourism trade fairs globally, was recently privy to an important meeting between Vanilla Islands’ representatives. Pascal Viroleau, the CEO of the Vanilla Islands Organisation, convened a meeting of all representatives of the Indian Ocean Vanilla Islands who were in Berlin for the 2014 ITB tourism trade fair. The primary objective of the meeting was to

MCB and AfrAsia Bank shine at PwC Corporate Reporting Awards

The Mauritius Commercial Bank (MCB) and AfrAsia between them won five of the six corporate reporting awards by PricewaterhouseCoopers (PwC), highlighting the robust corporate governance practices of the Mauritian banking sector. The awards ceremony for the 16th edition of the PwC Corporate Reporting Awards (CRA), which was held on Wednesday at the Hennessy Hotel in Ebène, saw MCB lift the lion’s share of awards. The island economy’s largest lender won

Intellectual Property Council a must to execute IP policy in Mauritius: Boolell

Mauritius foreign affairs and trade minister Arvin Boolell emphasised the importance of setting up an Intellectual Property Council in the island economy to bring together all institutions dealing with IP under a common framework. Moreover, said the minister, a new IP Policy is being designed which would attempt to mainstream IP into our economic and social development and to further promote innovation and creativity through a more holistic approach to

[Financial Expert Speak] Sudhamo Lal: 90% of individual taxpayers in Mauritius use e-filing

(2nd part of interview) Sudhamo Lal, director general, Mauritius Revenue Authority (MRA), went on to speak to AfricaMoney of how electronic filing is becoming universal for individual taxpayers. He detailed the smart applications facility launched by the agency and stated that 70% of taxpayers are expected to use this mode for e-filing this year. Our financial expert also exhorted salaried taxpayers to take advantage of the new Form 1A to

Bheenick criticises sluggish efforts in developing Islamic banking in Mauritius

The central bank governor of Mauritius criticized the lack of efforts to cash on the rising trend of Islamic banking in the financial sector which may stand in the way of the island economy becoming a regional financial hub. In an annual letter addressed to stakeholders, Governor Rundheersingh Bheenick said that introducing financial tools such as sukuk, Islamic bonds, will allow the island economy to attract more investments from cash-rich

[Financial ExpertSpeak] MRA to crackdown on tax evasion in hospitality, construction

Sudhamo Lal, director general, Mauritius Revenue Authority (MRA), spoke to AfricaMoney on how tax collections for 2013 were in line with economic growth. Our financial expert highlighted some steps planned by the agency to facilitate tax compliance of small scale operators this year. He went on to detail MRA’s strategies to crack down on tax evasion, with a dedicated Special Measures Unit lined up for 2014 which will focusmainly on

Mauritius ranked first in African Index on Economic Transformation

The island economy ranked first in the African Index on Economic Transformation and Depth compared to 20 other African countries, according to the latest report by the African Center for Economic Transformation (ACET). However, the island, which is trying to position itself as an Information and Communications Technology (ICT) hub,could only manage the 14thrank in technology. Mauritius is followed by South Africa, Côte d’Ivoire, Senegal, Uganda, Kenya, and Gabon as

Mauritius attends UN conference for countries with Green Economy strategies

Mauritius participated at the first ‘Partnership for Action on Green Economy’ (PAGE) conference, led by the United Nations (UN), where advice was provided on how to build national green economy strategies. Mauritius’ economy needs to be enhanced through a shift of investment and policies towards a new generation of assets such as clean technologies and supply efficient infrastructure, green skilled labour, well-functioning ecosystems and good governance. Initiatives discussed at the

Mauritius closer to be African education hub with Aberystwyth University campus

Taking Mauritius one step further in its ambition to become the education hub for Africa, UK-based Aberystwyth University is planning to open its Mauritius campus soon. By establishing a branch campus in Mauritius, Aberystwyth University would become the highest ranking overseas university to operate in the country. Also, it will be the second UK-based University after Middlesex University, which set up in Mauritius in 2010, to open its campus in

Foreign workers in Mauritius poised to cross 40,000 mark

Foreign workers in Mauritius appearon track to overshoot the 40,000-mark soon, representing a whopping 20% increase over 2008. According to latest figures released by the Ministry of Labour, the figure for valid work permits corresponding to foreign workers at the end of January 2014 stood at 39,378, comprising 28,622 new work permits and 10,756 renewals. Of these, the majority of work permits were issued to Asians with Bangladesh leading at

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