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Azuri champions cause of sustainable development in Mauritius

“Value the marine environment for sustainable development” was Mauritius-based hospitality major Azuri’s objective in sponsoring two days training of seven professionals from the tourism and marine sector. This professional training in ‘Foundation on Coastal and Marine Habitats of Mauritius’, which took place at the Riverside Shopping Centre at Rivière-du-Rempart’ was organised by the NGO Reef Conservation, and fits within its framework of corporate social responsibility (CSR). The training was aimed

Mauritius Finance Minister wins Southern African Economic Development Championship Award

Mauritius Finance Minister Xavier Luc Duval received the Southern African Economic Development Champion Award 2014 from the African Leadership Magazine. The magazine noted that, thanks to the efforts of its Finance Minister, the Mauritian economy, already among the most competitive countries in Africa, has been able to compete successfully on the global stage. Furthermore, Duval was credited with having made finance more accessible to the common man with continuous improvements

Mauritius sees gross international reserves rise to Rs 112.02 billion in March

Gross international reserves hit Rs 112.02 billion in March 2014, increasing by Rs 1.81 billion over the previous month, according to data released yesterday by the central bank of Mauritius. Bank of Mauritius stated that the gross international reserves of Mauritius maintained their upward trajectory last month, increasing by Rs 7.5 billion for the first quarter of 2014 to establish a record level of Rs 112.02 billion at the end

Going green: Mauritius gets UN support for Maurice Ile Durable

Mauritius is on track to become a green economy with two fresh developments to aid its progress towards sustainable development. Not only has the new Partnership for Action on Green Economy (PAGE) chosen Mauritius as a pilot country for its green initiatives but the United Nations Environment Programme (UNEP) is also giving technical assistance to the island economy to go green. PAGE is a response to the outcome document of

Mauritius ranked 1st in Sub-Saharan Africa for enabling trade

Mauritius won top honours in Sub-Saharan Africa (SSA) with 4.7 out of 7 points, and was ranked 29th out of 138 countries globally, according to the Global Enabling Trade Report 2014 published by the World Economic Forum (WEF). Published every two years, the last report which came out in 2012 ranked Mauritius at 36th place with 4.62 points. The report notes that Mauritius is one of the success stories in

Mauritius must raise interest rates to contain inflation: Central Bank Governor

In the latest flare-up in the row between the central bank and the government, the Governor of the Bank of Mauritius stressed that Mauritius must raise interest rates if it intends to achieve the year-end inflation target of four per cent. Talking to Reuters, Bheenick expressed concern over the leap in consumer prices over the past three months and the fact that Mauritius being, import-dependent, could expect greater external pressure

Mauritius PM calls for partnership, says EU must go beyond paternalistic view of Africa

The Mauritius Prime Minister called for an effective partnership to characterise maturity in the ties between Africa and Europe, saying that Europe should adopt an approach that goes beyond the paternalistic spirit which has so far prevailed while dealing with Africa. In Navin Ramgoolam’s address at the 4th EU-Africa summit meeting in Brussels, which took place on the 2nd and 3rd April, 2014, the Prime Minister stated that Africa is the continent of hope

Mauritius: France overtakes South Africa as largest FDI source market

In what may come as a surprise to those industry watchers who expect the share of a struggling EU to come down in the island economy and yield place to emerging economies in Asia and Africa, France has overtaken South Africa as the largest source market for Foreign Direct Investment into Mauritius. A report released by the Central Bank of Mauritius showed that South Africa has had a radical decline

MCB Group replaces MCB on the Stock Exchange of Mauritius

MCB has been replaced by the MCB Group Limited (MCBG) on the official market of the Stock Exchange yesterday at an indicative price of Rs 215, equivalent to the closing price of MCB shares at its last day of trading on 24 March, 2014. Further to the official notice dated February 19, 2014, another milestone was reached on April 3, 2014 with the listing of MCB Group Limited on the

Technology to the rescue for Mauritius sugarcane sector

With the abolition of the EU sugar quota by 2017 looming large, the Mauritius sugarcane industry is turning to technology to counter the challenges facing the sugar sector. Accordingly, Mauritius Minister for Agro-Industry, Satish Faugoo, launched the Near Infrared Cane Testing System in Mauritius yesterday, in collaboration with Omnicane Milling Operations Ltd. While launching the new infrared cane testing system, the Jeffco Infracana II, the minister said that this is

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