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Mauritius gives green signals with ‘Water & Energy’ theme for World Water Day

On the occasion of the World Water Day on March 22, the Central Water Authority (CWA), together with the Ministry of Energy and Public Utilities (MEPU), are organising a series of activities to raise awareness among stakeholders and the public on sustainable uses of water. ‘Water and Energy’ is the theme chosen by the United Nations for this year’s event, where the focus is to draw attention to water and

Mauritius’ Constance Hotels tops small luxury hotels ranking by Global Review

Mauritius based hospitality chain Constance Hotels & Resorts has emerged at the top of the ladder for Top Small Luxury Hotel Brands according to a survey by the Global Review Index. Constance Hotels and Resorts notched the best score in the category of Top Small Luxury Hotel Brands at 93.7%. The leading hospitality chain comprises even hotels with two each in Mauritius, Seychelles and Maldives and one property in Madagascar.

Tourisme : l’Afrique à l’avant-plan lors de réunions au sommet en Angola et aux Seychelles

Le tourisme figure désormais parmi les secteurs prioritaires du continent africain. Pour preuve, les rencontres au sommet qui se succèdent. Après la rencontre des ministres du Tourisme de l’Union africaine, la semaine dernière, ce sera au tour de l’Angola d’accueillir les principaux acteurs dans ce secteur en avril prochain. A quelle occasion ? Pour la 56e réunion de la Commission de l’Organisation mondiale du Tourisme (OMT) pour l’Afrique, qui se tiendra du

Mauritius to be home to largest on-land LPG storage facility in Africa

Petredec has put finishing touches to its Liquefied Petroleum Gas (LPG) storage facility at Mer-Rouge in Mauritius with the aim of boosting supply of fuel to the island economy, as well as to function as a re-export hub. The terminal, to be officially inaugurated on March 20, 2014, will be the largest on-land LPG storage facility in the African region and will import and supply around 65,000 metric tonnes per

Mauritius: University of Technology & Bourse Africa launch virtual trading lab

The University of Technology, Mauritius (UTM) and Bourse Africa Limited, the first international multi-asset class exchange from Mauritius, have jointly launched a virtual trading simulation laboratory. Inaugurated by Rinsy Ansalam, MD and CEO of Bourse Africa Limited in the presence of Director General of UTM, Hemant B. Chittoo, the laboratory, situated at the university premises, will aim at fostering financial talent and furthering the development of Mauritian financial markets. “As

Maurice Ile Durable gets boost with photovoltaic solar energy projects

With over 107 solar installations in Mauritius and Rodrigues already, SETL meeco Ltd has a slew of photovoltaic projects lined up for 2014 in view of supporting the island’s transition to a greener Mauritius. SETL mecco is a leader in the photovoltaic kits and generators space in Mauritius and is promoting the concept of green energy across the island. The company produces energy worth close to Rs 20 million per

Mauritius’ current account deficit worsens to Rs 36.2 billion in 2013

Mauritius faced a significant, 44.8% deterioration in its current account deficit last year, which hit Rs 36.2 billion in 2013 compared to Rs 25 billion in 2012. It may be noted that the current account deficit largely addresses the difference between exports and imports of goods and services, besides other sources of income such as payments made within the economy by global businesses. The Balance of Payments of Mauritius, recently

SBM net profits after tax of Rs 4.8 billion for 18 months ended 31 December 13

Mauritius’ second largest lender, the State Bank of Mauritius, has seen a towering increase of 35.1% in net profits after tax to Rs 4.8 billion for the 18 months ended 31 December 2013 at a group level, compared to Rs 3.5 billion for the 18 months ended 30 June 2012. The group’s operating income grew by Rs 2.3 billion, or 32.4%, compared to the corresponding 18 months ending June 12,

Mauritian conglomerate CIEL to raise Rs 2 billion additional capital

The board of directors of CIEL Limited informed its shareholders and the general public in a communiqué sent to the Stock Exchange of Mauritius (SEM) on March 13, 2014 that it intends to raise additional capital of up to Rs 2 billion. “The proceeds of this fund raising will be used to enable CIEL and its investee companies to pursue its growth strategy in Mauritius and in the region,” the

Mauritius receives FDI of Rs 9.5 billion in 2013

Mauritius recorded foreign direct investment (FDI) of Rs 9.5 billion for the 12 months ended 31 December 2013, according to data released by the Bank of Mauritius on March 14, 2014. It may be noted that Mauritius had attracted a towering Rs 20.4 billion worth of FDI in 2012 and cumulative FDI of Rs 88.4 billion was channeled into the island economy between 2007 and 2013. In 2013, ‘Real Estate’

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