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National debt rises Rs 20 billion even as economy slows

Even as the Mauritian economy posted a lower GDP growth of 3.2% in 2013 compared to 3.4% achieved in 2012, the level of national debt has shown a worrying trend, growing by Rs 20 billion in 2013. Poised on the eve of the next Monetary Policy Committee meeting of the Bank of Mauritius and following on the heels of the economic review by the International Monetary Fund (IMF), the latest

Bitter taste? MSPA and sugar unions fail to reach agreement

Negotiations between the Mauritius Sugar Producers Association (MSPA) and labor unions appear to have broken down, with an appeal to the law through arbitration being the only alternative now facing the sugar trade. Rather than refine the list of requests and move forward, certain obstacles arose because of additional demands by the labor unions, claimed the MSPA. The MSPA had already accepted certain requests of the labor unions, such as

MTPA questions regional cooperation; rattles Mauritius tourism sector

In a surprising turn of events, Mauritius Tourism Promotion Authority (MTPA) has taken up a position which contradicts the stance of the Foreign Affairs Ministry on regional integration and cooperation. Statements by Karl Mootoosamy, Director, MTPA, on creating a separate identity for Mauritius go against what Anil Gayan, former Foreign Affairs Minister of Mauritius, had striven for in terms of showcasing the Vanilla Islands as a whole. In response to

Outrigger Mauritius Resort and Spa now open

Outrigger Mauritius Resort and Spa opened its doors to welcome its first guests yesterday, following an extensive renovation program which started May 2013. The 45th property of the Outrigger Enterprises Group, the resort in Mauritius marks the first time that the company has expanded its brand in the Indian Ocean. Surrounded on the landward side by expansive sugar cane plantations, the property at Bel-Ombre was purchased by the Outrigger Enterprises

Emirates and MTPA set to boost Mauritius tourism in Middle-East

Emirates airlines and the Mauritius Tourism Promotion Authority (MTPA) will engage in an intensive marketing campaign next week to promote Mauritius tourism in the Middle East. The Mauritian delegation, led by Tourism Minister Michael Sik Yuen, and MTPA Director Karl Mootoosamy, will visit the key markets of Riyadh, Jeddah, Doha, Kuwait, Abu Dhabi and Dubai from February 2 to 10, 2014. “Mauritius, a dream destination for travellers, is without any

Commerce Minister: Mauritius a “white jurisdiction” with clean financial system

Defending the economy against allegations of tax evasion, Cader Sayed-Hossen, Mauritius Minister of Commerce and Consumer Protection, said that the island nation does not encourage round tripping. Speaking to the local press on Tuesday on the side-lines of the partnership summit held in Bangalore, India, the minister said that Mauritius, which is the single biggest source of foreign direct investment into India, is extremely well regulated, and considered a “white

Africa Brand Summit in March to brainstorm sustainable development branding

Africa Brand Summit (ABS) will hold a two-day meeting starting March 13 in Nairobi, Kenya, on the theme of strategic branding for sustainable development. An estimated 150-200 delegates drawn from Kenya, Uganda, Tanzania, Ethiopia and Southern Sudan are expected. The purpose of the summit, hosted by the Sullivan Marketing Limited, is to offer a platform for intellectual inquiry and innovative sharing to thought leaders from public and private sectors on

Balancing growth and sustainability a tough act: Mauritius Industry Minister

Mauritius Industry Minister Sayyad Abd-Al-Cader Sayed Hossen said thatmanaging the growth of private companies with sustainability is a tough balancing act. Speaking yesterday in the midst of 500-odd government executives and private industry representatives at the two-day CII Partnership Summit in Bangalore, India, the Mauritian minister pointed out that private companies are the engine of growth of an economy. Even as Mauritius moves ahead with Maurice Ile Durable (MID) as

Mauritius tops non-extractive countries in Afrobarometer survey on transparency

Mauritius emerged with top honours among non-extractive industry countries on an Afrobarometer survey on transparent and accountable governance. Afrobarometer, which measures the social, political, and economic atmosphere in Africa, recently surveyed 34 African countries on the topic of oil and mining, of which 22 countries count mineral or oil production as critical to economic development. The island economy also came third overall among both extractive and non-extractive countries with Botswana

Tax Alert: Mauritius and India relations hit new low

Dealing a big blow to relations between Mauritius and India, already at a low following tax avoidance allegations by the Indian government, New Delhi decided Monday to call off a Joint Working Group meeting on Double Taxation Avoidance Convention (DTAC). Scheduled to take place this week, the official reason given for the cancellation of the three-day meeting, considered crucial for Mauritius’ offshore sector, was the non-availability of India’s head of

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