Century Banking Corporation Ltd (CBC), the first Islamic bank in Mauritius, has issued Islamic Commercial Certificates worth Rs 25 million on behalf of automobile dealership Iframac Ltd.

Financial Services Commission will participate fully with African counterparts within the SADC -Committee of Insurance, Securities and non Banking Financial Authorities (CISNA) to implement a common action plan for Capital Market and Insurance Regulators.

IIn order to respond to increasing demand for better access to housing, the Lafarge Group is developing expertise in affordable housing - an initiative which is original, local and business-oriented.  

HSBC Group in Mauritius on 28 March announced its financial results for the 12 months ended 31 December 2011. Siew Meng Tan, CEO HSBC Mauritius, stated that “The strength of our position extends from the Global connectivity that HSBC can deliver to its customers.

The Monetary Policy Committee (MPC) of the Bank of Mauritius has on Monday reduced the Key Repo Rate by 50 basis points, from 5.40 percent to 4.90 percent. The decision was taken by the MPC by a majority vote, after a second round of voting.

Mauritius and Seychelles have signed two important treaties to share the management of the continental shelf of the Mascarene Plateau region. As a result, the two countries now have joint jurisdiction over an additional area of 396,000 square kilometres. The Mascarene Plateau region will provide for the economic, social, and cultural wellbeing of present and future generations as Seychelles and Mauritius exploit the resources of the ocean together.

Ramesh Moonshiram, OSK, Senior Adviser at Bramer Corporation, the Financial Services cluster of British American Investment Group, was conferred the “Outstanding Leadership Award” for his contribution to the field of Human Resources at the World HRD Congress 2012 held recently in Mumbai, India.

Total exports for the fourth quarter of 2011 stood at Rs 19,658 million against imports of Rs 42,365 million, resulting in a trade deficit of R 22,707 million, which is 19.7% higher than the figure of R 18,967 million registered in the corresponding period of 2010. Total export proceeds for the year 2011 were valued at R 75,916 million, which is an increase of 9.2% over 2010.

Turkish TV8 channel sent a team to Mauritius from 15 to 22 February to realise a series of programmes on the country and its diverse tourist products on offer. These programmes will be aired in Turkey over three weeks as from March 3.  It will be an opportunity for the Turkish public to discover the rich and diverse Mauritian culture through the eyes of the director and celebrity-presenter Gulhan Sen, who will also shoot a film based on her stay in Mauritius.

Financial turbulence is rocking our national carrier.  Air Mauritius reports losses of 20.9 million Euros (nearly Rs 800 million) during the nine months to 31 December 2011, compared to a profit of 5.3 million Euros during the corresponding period in the previous financial year. Losses amount to 5.2 million Euros for the third quarter only. The company blames its poor performance on the rising fuel charges, which represent an increase of nearly €12.5 million for the third quarter of the financial year compared to the same quarter in the preceding year.