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Mauritius’ Bramer Bank in talks to merge with major African bank

Mauritian financial services major Bramer Bank is currently holding discussions with a major African bank for a possible merger. The management stated that Bramer Bank has ambitious expansion plans for Africa and such a partnership would give it a major advantage in accessing new markets on the continent which are yet underpenetrated. “The opportunity to work with a large African bank would give us direct access to a huge market

Turkish Airlines to run 3-4 weekly Mauritius flights from October

Mauritius is likely to play host to increasing tourists from Turkey come October, with Turkish Airlines set to launch three to four weekly flights to connect Istanbul and Mauritius via Madagascar. Also, direct flights between Mauritius and Istanbul may not be far off, as Turkish Airlines stated that it would consider operating direct flights to Mauritius, but only after several operations, in view of increasing the connectivity between the two

Enterprise Mauritius: Mauritius must become focal point for regional procurement

Exports continue to be a major engine of growth for the island economy, with Mauritius now exporting more than Rs 1 billion worth of goods to each of nine countries, over Rs 500 million to three countries each and more than Rs 100 million to each of 24 countries. Export diversification away from traditional EU markets is also on the right track, with data from Enterprise Mauritius showing that the

[Vidéo] Xavier Duval lance le programme de création de sites web gratuits pour PME

Le ministre des Finances estime qu’il est essentiel que les petites et moyennes entreprises du pays aient une visibilité non seulement à Maurice mais dans le monde à travers Internet. C’est uniquement l’économie que Xavier Duval a souhaité abordé aujourd’hui. Il a soigneusement évité les questions ayant trait à sa relation avec le gouverneur de la Banque de Maurice, Manou Bheenick.

Mauritius to let 34 EU tuna vessels fish in its waters

The European Union Council of Ministers has ratified an agreement between the European Union and Mauritius at its ECOFIN session to allow 34 EU tuna vessels to fish in the waters of the island economy. For Mauritius, providing the EU with fishing opportunities for vessel targeting tuna species will allow the island economy to earn an annual compensation of EUR 660,000 (Rs 26.4 millions). A little less than half this

Mauritius and Qatar sign labour agreement; strengthen tourism links

The island nation is going all out to court the prosperous Middle-East economy through a labour agreement signed yesterday to regulate Mauritian workforce in the country road as well as a roadshow held in Qatar recently to promote the island’s tourism industry. The labour agreement was signed in Doha yesterday by Qatar’s labour minister Dr. Abdullah bin Saleh Al Khulaifi and his counterpart in Mauritius, Shakeel Ahmed Yousuf Abdul Razack

Big projects lined up for Mauritius realty sector in 2014

After a slow year in 2013, the real estate sector in Mauritius is set to stage a recovery in 2014 as five big projects involving construction of high-end IRS (Integrated Resort Scheme) villas, bungalows and hotels have been launched since the start of this year. The Parc de Mont Choisy project, the Choisy Les Bains Limited project, the expansion of the Azuri Village, the Coral Beach residential project in Balaclava

Mauritius finance ministry says no “blank cheque” for Central Bank

In another twist to the excess liquidity tale, the finance ministry has openly differed with the central bank Governor’s stance on increasing the repo rate. While the Monetary Policy Committee held the repo rate steady at 4.65% on Monday, Governor Rundheersing Bheenick had advocated an interest rate rise in a statement on Tuesday. He noted that a higher repo rate would boost domestic savings and also stop investors pulling out

Mauritius stock exchange starts with bang; to close with whimper?

While the Stock Exchange of Mauritius (SEM) had started 2014 with a bang, it seems to be losing steam with a dip of 1.4% in just one week starting from 2124.05 on January 22 to close at 2086.62 on January 30. For the full month, the SEMDEX which stood at 2,095.69 points on 31 December, dipped to 2,086.62 points at close of trade on 30 January, representing a decline of

AfDB approves Mauritius’ Country Strategy Paper for 2014-2018

In line with its objective to support regional development, the African Development Bank Group (AfDB) approved Mauritius’ Country Strategy Paper (CSP) for 2014-2018. The board of directors met in Tunis on Wednesday to finalise the bank’s strategic business plan in Mauritius for the five-year period. Taking into account the strategic importance of Mauritius to the region and the bank, the paper recognises the country’s outstanding performance and strong economic fundamentals. It

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