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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

Mauritius textiles companies to showcase products at Tex-Trends India

A dozen Mauritian companies have been chosen to participate in edition 2014 of Tex-Trends India, one of the most important textile shows of the sub-continent, giving the island economy’s textile sector a golden platform to demonstrate its strength to foreign buyers. The textile show, organized as a collaborative effort of the Apparel Export Promotion Council of India with the support of several organizations representing the interests of textile manufacturers, is

Struggling Apavou Group faces sale of four hotels in Mauritius

Mauritian hotel group Apavou appears to have been hit hard by the downturn in the hospitality sector last year, and is faced with the sale of four hotels, including the prime property of La Plantation at Balaclava. The decision to implement the procedure of “Sale by Tender” of the four hotels was taken after a first attempt of rescue. Some 500 employees of these hotels of the Apavou Group find

Statistics Mauritius to kick off flagship household survey this month

Statistics Mauritius recently announced that the Continuous Multipurpose Household Survey (CMHS), it’s fifteenth such exercise in critical household data collection that covers both employment statistics as well as other economic and social indicators, would start this month. To last till December, surveys will be done each month in 940 households, covering both Mauritius and Rodrigues. The main objective of the CMPHS is to obtain information on the labour force, employment

Trading thin? Nigeria must do more Africa business

In two years, experts predict that Nigeria will replace South Africa as the continent’s largest economy, but the West African frontier economy is not sending out the right signals of collaborating with fellow economies for the greater good – and greater growth. The Visa Africa Integration Index 2013, which measures the degree of economic integration within key trade corridors of sub-Saharan Africa, describes Nigeria as one of the least regionally

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