The continuing appreciation of the Mauritian Rupee against foreign currencies is creating an environment of fear among exporting enterprises. The Association of Exporters (MEXA) recently announced the lay-off of some 10,000 employees by the end of January if the authorities do not intervene. 

The Stock Exchange of Mauritius was the main focus of economic operators in 2009 with the downturn faced by developed nations. Investors showed much hesitation in buying shares. And yet, it  resisted consistently; the results are positive with a 38% growth that places the SEM as number two in Africa.

Debates on the Appropriation (2010) Bill ended with no amendments early morning on Tuesday with the Prime Minister, Dr Navin Ramgoolam, chosing to galvanise attention of the members, on Monday, with what looked like a summing up of his four and half years of government.

The long-awaited Competition Commission is finally in business since Wednesday this week but without a chairperson. The hunt for this rare bird is still on.

Vice Prime Minister and Minister of Finance, Dr Rama Sithanen, presented his fifth budget in the National Assembly on Wednesday. He says it  reflects the high ideals of the Government and meets the aspirations of the people.

Government feels there's a strong need to create a National Logistics Council to strengthen the competitiveness of Mauritius as mooted by the Mauritius exporters association, says Dharam Gokhool, Minister of Industry, Science and Research.

The Vice Prime Minister and Minister of Finance and Economic Empowerment, Dr Rama Sithanen, says there is no need to return to tripartite talks,  to compensate consumers for loss of purchasing power or to pay a salary compensation before July 1, 2010.

A consultant in good governance attributes the global economic slowdown to weak board governance, lack of integrity, conflicts of interest, colluded external auditing, absence of regulators and a perfunctory internal auditing.

The exit strategy of the Stimulus Package is a difficult choice, said Rama Sithanen, Minister of Finance, during the opening ceremony of the regional conference of the Chartered Institute of Management (CIMA), at Le Meridien, on Wednesday.

Rundheersingh Bheenick

Indications are clear that the economy has taken a significant upturn since the second quarter of 2009 and, in view of the current tendency, the second semester should be better, according to the Bank of Mauritius.   

The Human Resource Development Council (HRDC) is launching a National Human Resource Development Plan that aims at manpower projections for the coming five years in the different sectors of the economy. 

Two issues are of immediate  concern to members and stakeholders of the World Customs Organisations : commercial fraud and the threats and challenges in the context of the FIFA World Cup to be held in South Africa in 2010.

The Mauritian students in Islamabad, Pakistan, are reported to be safe and sound after the Tuesday night bomb blast in the building of the Islamabad International Islamic University.

The price of Gold on the world market has taken a swift vertical direction since more than a year now causing much concern to jewellers and  buyers.

The fast food chain Kentucky Fried Chicken is struck with a mandatory closure by the Ministry of Health following the presence of  salmonella in the raw materials used. This has forced the management to lay off 350 of its workers.