Finances

Monetary Policy Committee: Bheenick and His Two Deputies in Minority Once Again

For the second time this year, Rundheersing Bheenick, Governor of the Bank of Mauritius, and his two deputies Iqbal Belath and Yandraduth Googoolye found themselves in the minority at a meeting of the Monetary Policy Committee. They demanded an increase in the repo rate to counter inflationary effects.

8 years, 12 months ago

Student Loan Scheme: Suspended by Ministry Decision

A dozen students of tertiary institutions who have applied for a Student Loan guaranteed by the government from commercial banks, waiting for their money for six months.

8 years, 12 months ago

Employees Welfare Loan Scheme: New Financing Plan for Employees

The Employees Welfare Fund (EWF) officially launched Friday, June 28 a new financing plan for all employees participating in the National Savings Fund (NSF). It is the Employees Welfare Loan Scheme. This appropriation is intended to finance travel, domestic or household equipment, renovations, medical expenses and weddings.

8 years, 12 months ago

Debts Over Rs 20 Billion for the Three Hotel Groups

The three hotel groups including New Mauritius Hotels (NMH), Lux Island Resorts and Sun Resorts, began fiscal year 2013 with massive debt ratio. They all three ended the year 2012 with net debt of more than Rs 22 billion, a debt ratio (Gearing Ratio) averaged 68.2%.

9 years ago

Banking: Kee Chong Li Kowng Wing and Swadick Nuthay

The banking sector is in a zone of turbulence. The Governor of the Bank of Mauritius announced that five banks will bail "heavy fines" in the wake of scandals in the Ponzi scheme.

9 years ago

SMEs: Xavier-Luc Duval Discusses Possibilities of Access to Finance

Access to finance opportunities for small and medium enterprises, including micro-enterprises do not miss, made it clear this morning, Deputy Prime Minister and Finance Minister Xavier-Luc Duval at a press conference where he took the opportunity to urge the contractors concerned to take advantage of the financial resources at their disposal in two equity funds: the NRF Equity Fund and the SME Partnership Fund.

9 years ago

White Dot And Sunkai: Sale of Assets

Ten weeks after the start of the multi-pronged investigation by the Central CID on financial scams (Ponzi Schemes), the damage could reach Rs 2 billion, a new phase is about to be initiated.

9 years ago

PRB and Manraj Recommendations Cost Rs 4300 per Year for Each Mauritian

It is the taxpayers who will have to cough up funding recommendations Manraj report, endorsed by the Council of Ministers, Monday, May 20

9 years, 1 month ago

Loan: New Facilities for Export-Oriented Companies

The goal: to revive the industrial and manufacturing machinery in Mauritius. At a press briefing on Wednesday May 22, the Finance Minister Xavier Duval, has announced a new "Investment Package" will be available for export-oriented companies.

9 years, 1 month ago

IBFA: "Do Not Let Yourself Be Tempted by Easy Money"

The investment plans guaranteeing a significant profit in a short period, such as Ponzi plan is not compatible with the principles of Shariah.

9 years, 1 month ago

5 Things Founders Don't Talk About

Last week I had a dozen business founders over for beer and pizza to catch up and talk shop. It’s one of my favorite things to do, because I think when you get a group of fellow founders in a room together, there’s instant fraternity among them. People let their guards down. When surrounded by peers, Founders talk about things that no one else can appreciate or understand.

9 years, 1 month ago

New Loan Program for Students

A new loan program for students is being implemented to ensure that no one misses a rewarding career only because of lack of funds to finance his studies. This had also been announced in Budget 2013.

9 years, 1 month ago

Ponzi Scheme: Two Other Companies Outside Game

The investigation into the alleged financial scams in societies Whitedot International Consultancy Ltd and Sunkai Ltd. has not yet revealed all its secrets, the Central Criminal Investigation Department (CCID) has taken in his nets other companies suspected of resorting to illegal financial practices.

9 years, 2 months ago

Ponzi Scheme: 1,372 Reported Victims, Amount - Rs 572 Million

The Finance Minister Xavier-Luc Duval has provided in response to the Private Notice Question (PNQ), specific details on the extent of the scam involving seven investment companies. The biggest fraud remains with Whitedot .

9 years, 2 months ago

Is Cyprus More Important Than You Think?

In 1938, British Prime Minister Neville Chamberlain’s speech decided to ignore “a quarrel in a far-away country between people of whom we know nothing”. The world has now convinced itself that Cyprus is simply not systemically important. They may be proved wrong.

9 years, 2 months ago