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Mauritius poised for 4.1% GDP growth in 2014

According to the World Bank, Mauritius is poised to achieve higher GDP growth over the next 3 years, moving up to 4.1% in 2014, 4.3% in 2015 and finally 4.2% in 2016. Also, Sub-Saharan Africa’s real Gross Domestic Product (GDP) growth picked up to 4.7% in 2013, supported by robust domestic demand, notably investment growth, making it the second-fastest growing region in the world. The Global Economic Prospects report for

Air Mauritius redouble ses efforts sur la Chine

Consciente que le marché chinois est en plein essor, Air Mauritius compte opérer deux vols additionnels vers celui-ci en 2014. Ainsi, dès ce mardi 21 janvier, la compagnie nationale desservira Shanghai trois fois par semaine. A partir de juillet, un second vol hebdomadaire vers Beijing sera programmé. Air Mauritius desservira ainsi la Chine 5 fois par semaine à partir du 16 juillet. Les visiteurs en provenance de Chine représentent une

Karl Mootoosamy: Mauritius must balance the demands of different cultures

AfricaMoney spoke to Dr Karl Mootoosamy, Director, Mauritius Tourism Promotion Authority (MTPA), on Mauritius’ near-miss of the 2013 target of 1 million tourists. Dismissing it as a psychological construct rather than a meaningful number, our no-nonsense expert took us on a journey behind the numbers to understand what tourism in Mauritius is actually about. Insisting that the best marketing is a form of storytelling, the head of the island economy’s

HRDC set to boost career development in Mauritius

Mauritius’ Human Resource Development Council (HRDC) is going all out in the New Year to boost human resource development by leveraging its training and workforce development programmes. For 2014, HRDC has established a programme of work with targeted goals and actions, amongst which ‘Let’s Talk Careers’ is a major initiative. The new project is expected to contribute towards improving career awareness and employability of university students through evidence-based career talks

Mauritius in top 10 countries globally on Economic Freedom Index

The island nation’s economic freedom score is 76.5, making its economy the 8th freest in the 2014 Index, with the same rank as last year’s. However, its overall score is 0.4 points lower than last year, with declines in investment freedom, property rights, and business freedom that outweigh improvements in labor freedom, freedom from corruption, and monetary freedom. Botswana follows Mauritius, but at a distance, securing 27th place globally on

Ravneet Chowdhury new Bank One CEO

Ravneet Chowdhury officially took office as the new CEO of Bank One on January 1st. He will be assisted by CP Balachandran. Bank One is aiming at providing its services in Africa and is relying on CEO Ravneet Chowdhury’s long and rich experience in the banking field in African countries to attain this goal. Bank One wishes to reinforce its relations with other countries especially with India and Africa. “We

Mauritius conglomerate GML’s net profits rise 27% in 2013

Mauritius-based conglomerate GML achieved a 27% rise in net profits at Rs 1.05 billion for the year, compared to Rs 824.9 million in 2012. Meanwhile, group turnover grew to Rs 29.0 billion in 2013, against Rs 27.1 billion a year ago, representing an increase of 7.1%. The company’s affiliate, renowned hospitality chain LUX*, and its subsidiary, fisheries major IBL, were responsible for the outstanding results as their profits were boosted

Rs 23.2 billion raised on Mauritius’ stock exchange in 2013

The stock market in Mauritius had a profitable run in 2013 with the total value of capital raised on the Official Market as well as the Development and Enterprise Market (DEM) amounting to Rs 23.2 billion. According to the first bulletin released in 2014 by the Stock Exchange of Mauritius Ltd (SEM), this amount represents new shares, rights issuance as well as bonds launched by the companies listed on both markets.

All imports from SADC countries now duty-free for Mauritius

All products imported from fellow countries of the South African Development Community (SADC) into Mauritius will now be duty-free. Customs duties were removed on all imported products coming from countries which are members of SADC – Botswana, Lesotho, Malawi, Madagascar, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe – since the start of the New Year. The official report published on December 28, 2013 by the Mauritius Chamber

Mauritius and Comoros enter agreement to boost economic cooperation

Mauritius and Comoros signed an agreement today laying the basis for the development of sectoral cooperation in numerous fields. The framework agreement on cooperation, signed in Mauritius’ capital, Port Louis, aims to boost economic relations between the two countries. Mauritius Trade Minister Arvin Boolell signed the agreement on behalf of the host nation while Comoros’ Foreign Relations Minister El-Anrif Saïd Hassane inked the agreement on behalf of the fellow Indian

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