News
Mauritius clothing major CIEL Textiles sees first-half profits up 28%
For the six month period, the Knitwear cluster contributed the most across segments, with revenue of Rs 2.55 billion and profits of Rs 154.68 million. (Image: Reuters) Mauritius-based clothing major CIEL Textiles has seen group profits rise by 28% to Rs 275.84 million for the half year ended December 31, 2013, supported by improved performance…
Read MoreBOI Africa Partnership Conference calls for greater collaboration on investment promotion to boost African growth
The Board of Investment (BOI) kicked off its Africa Partnership Conference on 20 September, bringing together representatives of investment promotion agencies and industry representatives from Mauritius and Africa to discuss the opportunities and challenges of driving growth in Africa through greater collaboration on investment promotion. Two new MoUs were also signed between the BOI and…
Read MoreNew corporate comms agency Acuitas Communications launches in Mauritius
Samantha Seewoosurrun and Simon Nayyar are delighted to announce the launch of their new PR business, Acuitas Communications. The agency provides a full service PR offering, including corporate communications, financial communications, public affairs, and crisis management. The agency has a unique footprint, with offices in Mauritius, London and Brussels, as well as a global affiliate…
Read MoreMerger of Utilis Corporate Services Ltd with Safyr Wealth Services Ltd and SAFYR Engineered Tax Services Ltd
Utilis Corporate Services Ltd, a Management company that specialises in fund administration and capital market transactions has merged with Safyr Wealth Services Ltd and SAFYR Engineered Tax Services Ltd. The new entity, SAFYR UTILIS LTD, has received all regulatory approvals and has been operational since 1st July 2016. According to Reshan Rambocus, Chief Executive Officer…
Read MoreAXA is joining forces with Lloyd’s to create a specialty insurance venture named ‘AXA Africa Specialty Risks’
AXA is joining with Chaucer, a specialty Lloyd’s insurance group, to create a specialty insurance venture named ‘AXA Africa Specialty Risks’ which will be dedicated to covering specialty insurance lines in Africa, which comprises for instance political risks, energy and infrastructures. The UK holding company for the venture also owns a subsidiary, a Mauritius-based Lloyd’s…
Read MoreThe Expert Explains: EU reaction to Panama Papers confirms creation of new ‘tax haven’ blacklist
On 12 April, the European Commission adopted a new proposal to introduce public country-by-country reporting requirements for the largest companies operating in the EU and in so-called ‘tax havens’ to “address concerns flowing from the Panama Papers”. The European Commission also published new draft legislative provisions which will pave the way to the creation of…
Read MorePhoenix crowned top Mauritian brand at 2nd Brand Magic Summit 2016
Phoenix Beverages was crowned as the top brand in Mauritius at the 2nd Brand Magic Summit 2016, closely followed by Sunny in second position and Mine Apollo in third place. The findings were revealed in a survey by TNS Analysis, which conducted 750 face-to-face interviews with a representative sample between mid-February and mid-March 2016. Phoenix Beverages was…
Read MoreAfDB puts Africa on Information Highway with data portal initiative
Data portals and open data systems have been developed and installed in all 54 African countries and in 16 regional/sub-regional organisations. (Image: Africa Data)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…
Read MoreBank of Mauritius raises CRR on rupee deposits to tackle excess liquidity
The central bank has hiked the fortnightly average CRR from 8.0 per cent to 9.0 per cent and the daily minimum CRR from 5.5 per cent to 6.5 per cent, with effect from the fortnight starting today. (Image: Bank of Baroda)Bank of Mauritius declared that the Cash Reserve Ratio (CRR) on rupee deposits will be…
Read MoreICT hub Mauritius focuses on legal measures to crack down on cybercrime
The GLACY (Global Action on Cybercrime) Project will implement the principles of the Budapest Convention, and Mauritius is one among the six priority countries selected to benefit from the GLACY project. (Image: Council of Europe Cybercrime) Legal measures play an important role in the prevention of and fight against cybercrime, according to Mauritius ICT Minister…
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