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Tariff negotiations at core of trade agreements: Mauritius ITD Director

“If we examine the history of GATT and the World Trade Organisation, for more than 60 years emphasis has been laid on tariff negotiations. This is always the case even when negotiations are underway at the regional level, be it within SADC and COMESA”. This was the opening statement by Assad Bhuglah, Director of Trade Policy at the International Trade Division, Mauritius, at a two day seminar which started yesterday at the

Indian Ocean Commission members increase collaboration in fight against illegal fishing

To power its fight against illegal fishing, the Indian Ocean Commission (IOC) is investing more than 360,000 euros of subsidy in a single system, prepared over a 3-year period by Comoros, Reunion, Madagascar, Mauritius and Seychelles. This system has been put in place with the financial support of European Union, based on the exchange of data in the Indian Ocean. The Indian Ocean sector of sea fishing is a major

African Development Bank puts Africa on Information Highway with data portal initiative

Data collection and dissemination challenges were highlighted at several recent pan-African and international meetings, culminating in the African Development Bank Group (AfDB) creating a transparent, reliable and credible portal to improve data management and dissemination on the African continent. After successful pilot tests, data portals and open data systems have been developed and installed in all 54 African countries and in 16 regional/sub-regional organisations. Other tools, such as the e-GovDP

Barclays Bank listed on Mauritius’ NewPlat Exchange Traded Fund

The Stock Exchange of Mauritius (SEM) started this week by welcoming banking major Barclays corporate and investment banking division on the platinum exchange traded fund (ETF), NewPlat. Barclays Mauritius is part of the Barclays Africa Group which is one of the largest financial services providers in Africa. Barclays explained that the listing of 400,000 NewPlat debentures on the SEM gives investors in Mauritius the opportunity to invest directly in platinum

Mauritius trader associations take to court against trade fees hike

The motion of the Mauritius Shop Owners Association (SOA) against the increase in trade fees was heard for the first time in the Supreme Court yesterday. The SOA president, Santosh Kumar Ramnauth, argued against the “unilateral decision to increase trade fees” with effect from 1 January 2014. It may be noted that the SOA comprises over 5000 traders. These increases, argued the association, have been made ​​without it, or any related

Beachcomber delegation meets Seychelles Tourism Minister for way forward

Leading hospitality brand Beachcomber Hotels recently sent a delegation to Seychelles to meet Tourism Minister Alain St Ange to solicit the minister’s views on the way forward for the tourism industry in 2014. The aim of this meeting, held at the National Cultural Centre in Victoria, was to discuss the future of the tourism industry with the Seychelles Tourism Minister and to gain information on the new developments in air connectivity

Inflation rises to 3.7% in January: Bank of Mauritius

The rate of inflation for the twelve-month period ended January 2014 rose to 3.7% from 3.5% for the twelve-month period ended December 2013 even as year-on-year inflation surged from 4.0 per cent in December 2013 to 5.1 per cent in January 2014. Bank of Mauritius has made public its monthly bulletin for end of January 2014, where it also indicated that Consumer Price Index (CPI) increased from 105.3 in December

Mauritius trade deficit widens 65.1% in December

Mauritius’ trade deficit rose to 65.1% year-on-year to Rs 8.48 billion ($282.20 million) in December on the back of widening imports of machinery and transport equipment, showed Statistics Mauritius data released on Friday. The difference between imports and exports of goods in December 2013 was also higher by 6.2% compared to November 2013, showing a deterioration both on a year-on-year as well as on a month-on-month basis. The value of

MTN expects 25-30% earnings rise on forex gain from Mauritius

South Africa-based telecommunications major MTN Group expects 2013 earnings per share to rise between 25 to 30% on the back of foreign exchange gain of about $99.5 million (around Rs 3 billion), largely from its Mauritius operations. This compares favourably to 2012’s foreign exchange transactions when the multinational mobile telecommunications company faced a cumulative loss of about 2.7 billion rand (around Rs 7.4 billion). Johannesburg-based MTN stated recently that its Mauritius

AfrAsia Zimbabwe on upturn with fully-subscribed shares to fund growth

AfrAsia Zimbabwe, subsidiary of Mauritius banking services major AfrAsia, seems to be on the right track to meet fund requirement for growth in 2014 as it’s USD 5 million rights issue was fully subscribed. “Shareholders of AfrAsia Zimbabwe Holdings Limited (AZHL) fully subscribed to the group’s recent US$5million rights offer as AZHL continues with its efforts to raise capital to fund growth and comply with regulatory requirements,” the group said

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