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2017 Global Talent Competitiveness Index: Mauritius 1st in Africa 03-03-2017

  The Global Talent Competitiveness Index 2017 (GTC 2017), assesses 118 countries and attempts to analyse the impact of the digital revolution on talent competitiveness.  As companies become more efficient with the advent of new technologies, workers encounter both challenges and opportunities.   As countries compete to grow better talents, attract the one ...

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Enhanced air connectivity: introduction of direct flights for Amsterdam-Mauritius route 03-03-2017

  As from 30 October 2017, KLM Royal Dutch Airlines in collaboration with Air Mauritius will introduce direct flights from Amsterdam to Mauritius.  The proposed flight schedule will as follows:   Days Departure time (Amsterdam) Arrival time (Mauritius) Departure time (Mauritius) ...

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The National Code of Corporate Governance 2016 (the “Code”) 03-03-2017

  In a bid to further enhance the country’s corporate gove
ance standards and bring them at par with inte
ational best practices, the Code was launched on 13 February 2017.   The Code is a departure from the ‘comply-or-explain’ approach as it now employs an ‘apply-and-explain’ methodology.  Henceforth, all Public Interest En ...

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SEM: Approved stock exchange under the Jersey Company Law 03-03-2017

Last year, the Stock Exchange of Mauritius (SEM) in collaboration with the Ministry of Finance of Mauritius requested that the SEM be included in the list of approved stock exchanges by the Jersey Authorities.  In line with this request, the Companies (Transfers of Shares - Exemptions) (Jersey) Order 2014 has been amended to include as an approved stock exchange, the S ...

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Update on the Rotation of Audit Firm requirement for listed companies 03-03-2017

  One of the proposals put forward in the Budget Speech 2016/2017, was the introduction of a mandatory audit firm rotation policy of every 7 years for listed entities in a bid to achieve more independence of auditors.    It has now been clarified that the mandatory rotation policy will not affect listed companies in cases where joint auditors have been app ...

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Extension of visa-free period for Mauritians visiting China 02-03-2017

  Henceforth, Mauritians will be able to visit China without a visa for a period of 60 days.  The visa-free period has been extended from 30 to 60 days following a request that was put forward to the Chinese gove
ment by the current Prime Minister of Mauritius, Hon. Pravind Jugnauth, when he visited China last year. ...

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New MoU: Financial Services Commission, Mauritius and the Abu Dhabi Global Market Financial Services 02-03-2017

  The Financial Services Commission (FSC) and the Abu Dhabi Global Market Financial Services Regulatory Authority signed a Memorandum of Understanding (MoU) on 19 December 2016.  The main objective of the MoU is to ensure that there is a proper framework in place for mutual assistance and exchange of information between both jurisdictions for the purpose of enfor ...

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Amendments to Section 23 of the Financial Services Act 2007 02-03-2017

  The Financial Services Commission (FSC) advised through a communiqué issued on 30 January 2017 the following amendments to Section 23 of the Financial Services Act 2007 (FSA 2007):   ·Section 23(1A) of the FSA 2007:   For listed licensees or licensees held by listed entities: the FSC has to be notified on a yearly basis about the change i ...

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Monetary Policy Committee maintains Key Repo Rate at 4% per annum 02-03-2017

According to the Monetary Policy Committee (MPC), the increase in world growth projected by the IMF in their recent World Economic Outlook Update report is expected to be undermined by increasing risks and uncertainties. Rise in prices of commodities and global monetary policy stances are expected to induce stronger global inflationary pressures on domestic inflation. &nbs ...

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Mauritius and Senegal: Joint Development Agreement  02-03-2017

  A Joint Development Agreement between Mauritius and Senegal was signed in January 2017 in relation to the development of a Special Economic Zone (SEZ) in Senegal that kick started in 2015.   The project is being conducted through a joint venture company, Société des Infrastructures d’Affaires Atlantic (SIAA), which is jointly held by the G ...

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