...as early as the 10th century) by the Portuguese, Mauritius was uninhabited until 1598 when first the Dutch, then French and finally the British colonised the tiny island before it became independent in 1968. Even though the British rule lasted a relatively longer period, the French roots are more evident in the Mauritian lifestyle and people still prefer to speak Creole and French over the official English language. Right from the time when you set foot at the SSR International Airport at Plaisance, chances are that if you say you are from India, the locals, who proudly refer to the island as 'Little India'-a moniker attributed to former Prime Minister Indira Gandhi, will give you a warmer welcome. Not surprising since over 68 per cent of Mauritians are of Indian origin whose forefathers migrated to Mauritius as indentured labourers during the British rule. Though India is seventh among top 10 nations in the Mauritius tourism pie, it contributes only a fraction to the market dominated by Europe till now. However, the Mauritian Tourism minister Nando Bodha plans to change that. He recently announced plans to attract over 100,000 Indian tourists within the next five years, more than doubling the number from the existing 49,779 (as per February 25, 2011 data). Says the minister, "Being initially frequented by honeymooners only, today we have different segment of travellers from India visiting the island." "Both Mauritius and India have a long standing historical and cultural...
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...Mauritius ASSINGMENT COUNTARY: MAURITIOUS Submitted To: Prof. AMNA SHAFQAT Submitted By: HASEEB IFTIKHAR L1F07BBAM0208 ABDULLAH ISHFAQ L1F07BBAM0201 REHAN AKRAM L1F07BBAM MAURITIOUS CONTENTS * THE COUNTRY 1. LAND AND CLIMATE 4-5 2. HISTORY AND GOVERNMENT 6-10 3. ECONOMY 10-11 4. EDUCATION 11-15 5. TRANSPORTATION 16 6. HEALTH 16-18 * THE PEOPLE OF THE COUNTRY 1. POPULATION 18-19 2. LANGUAGE 19 3. RELIGION 20 4. HOLIDAYS ...
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...Mauritius Mauritius s a small, multicultural island in the Indian Ocean, is an island nation off the southeast coast of the African continent in the southwest Indian Ocean Currency Main article: Mauritian rupee | | | 1.00 INR | = | 0.549153 MUR | Indian Rupee | ↔ | Mauritian Rupee | 1 INR = 0.549153 MUR | | 1 MUR = 1.82099 INR | The rupee (sign: ₨; ISO 4217 code: MUR) is the currency of Mauritius. Demographics – The population estimate (as of 1 July 2012) for the whole republic is 1,291,456, the female population outnumbered the male population by about 19,430. Language - The Mauritian Constitution makes no mention of an official language and its one million citizens speak mostly Mauritian Creole (a French-based creole), English, French and Bhojpuri. Education The education system in Mauritius is largely based on the British system since Mauritius was a former British colony. The government of Mauritius provides free education to its citizens from pre-primary to tertiary levels. The education system in Mauritius is categorized into 4 main sectors – pre-primary, primary, secondary and tertiary. Economy – Since independence in 1968, Mauritius has developed from a low-income, agriculture-based economy to a middle-income diversified economy. The economy is based on tourism, textiles, sugar, and financial services. In recent years, information and communication technology, seafood, hospitality and property development, healthcare, renewable energy, and education and...
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...8 September, 2014 | Inflation - 3% (2014)Unemployment - 7.8% (2014)FDI inflows - 10.98 billion USD | Republic of Mauritius Mauritius is an island nation in the Indian Ocean approximately 2,000 kms off the southeast coast of the African continent. The country is comprised of the island of Mauritius, Rodrigues, the islands of Agalega, and the archipelago of Saint Brandon. Since its independence in 1968, Mauritius has developed from a low-income, agriculture based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors. Mauritius is considered the only African country ranked as a “full democracy” in the Economist Intelligence Unit’s Democracy Index. Navin Ramgoolam of the Mauritius Labour Party has been Prime Minister since 2005, and Rajkeswur Purryag has been president since 2012. Economy: Development Mauritius has a multi-ethnic, multi-religious and multi cultured population. Vast majority of its population are immigrants from India, China and other African nations. The country has seen a very stable GDP growth rate of approx. 3.2% for the past 5 years, with the first quarter of 2015 witnessing a 3.5% growth. Mauritius is one of the top ten free economies in the world and ranks first out of the 46 Sub-Saharan African nations. This...
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...Introduction A stock market or equity market is a public entity (a loose network of economic transactions, not a physical facility or discrete entity) for the trading of company stock (shares) and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately The SEM was incorporated in Mauritius on 30th March 1989 as a private limited company with a public authorization. The setting up of the SEM constituted an important step in the process of building up a modern financial sector to cater for the needs of a growing economy. The SEM is a successful exchange responsible for the operation and promotion of an efficient and regulated securities market in Mauritius. The SEM is established under the Stock Exchange Act of 1988 and additionally, On this exchange, two markets are operated; the Official Market and the Development & Enterprise Market (DEM). For the purpose of this study, official market will be considered and a brief introduction of DEM will be discussed. Before moving forward it will be difficult to understand the concept of the sem without the definition of the description of the main keywords, It is explain as follows Investors An investor puts money behind an idea, a project or a company with the hope of making a financial return There are two types investors. The passive Investors He buy shares and in returns he waits to have a share dividend The active investors Buying and selling shares...
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...‘Explain within which context how can we adopt the contract of Murabaha in Mauritius “ Islamic Banking in Mauritius In 2007, the Banking Act in Mauritius was amended to cater for Islamic banking activities. The Bank of Mauritius issued the first Islamic banking license in October 2009 to cater for the approximately 18 per cent of the 1.2 million Mauritian population that is Muslim. According to the Governor of the Central Bank it would have been a big task to build a sustainable Islamic retail banking model that is profitable to service just over 200,000 Muslims in the Indian Ocean Island if it were not for the Bank of Mauritius’s plans to introduce short term liquidity instruments. Governor of the Central Bank said that it is a major step in translating the vision of the Authorities to provide an alternative mode of financial intermediation, thus enhancing the options available to bank customers. Use of Murabaha contracts in Mauritius With the sub-prime crisis challenging conventional banking and financial products, there is mounting interest in Islamic products which comply with the principles of shariah law. According to report, the size of the global market for shariah compliant products is estimated at $800 billion. The increase in wealth in Islamic countries (especially in the Middle East with its accumulation of petrodollars), the growth in the Muslim population, the huge capital requirements for infrastructure projects across the Muslim world as well as...
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...the country increased from 2.8% in 2009 to 3.1% in 2013 (FSC, 2014). Local Insurance business is classified into long term Insurance Business (Life); and General Insurance Business (non-life). The insurance business is largely private-owned and is dominated by a few players. The Mauritian non-life market has consolidated and this consolidation has left the market with four major players, the largest of whom commands around 30% of the market. In 2011, Axco ranked Mauritius as the 108th non-life market in the world and the 60th life market. There were 14 insurers operating in the general insurance (non-life) market in late 2012, all of which were joint stock. Swan absorbed CIM Insurance effective 30 June 2012, and became the largest non-life company, with around 30% of the market. It has once again moved ahead of the merged Mauritius Union/La Prudence, trading under the name of Mauritius Union in the non-life market. The main companies offering general insurance are as follows: Mauritian Eagle Insurance, Mauritius Union General Insurance, SICOM and Swan Insurance Company...
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...Table of Content Question 1 ……………….…………………………………………….. 5 Introduction …………….………………………………………….. 5 Pest Analysis table ….…………………………………………..…. 5 Factors of PEST………………..…………………………...……… 7 Table of Factors ………………………………….………………… 10 SWOT Analysis………………………………….…………………. 11 Conclusion …………………………………………………………. 12 Reference …………………………………………………………... 13 Question 2 (a) ……………….……………………………………….. 14 Introduction …………….………………………………………….. 14 Market Structure table …………………………………………..…. 14 Monopoly………………….………………………………...…...… 15 Perfect Competition……………………………....………………… 16 Oligopoly……..………………………………….…………………. 16 Conclusion …………………………………………………………. 17 Question 2 (b) ……………….……………………………………….. 18 Introduction …………….……….………………………………….. 18 Perfect competition …………………….………………………..…. 14 Monopolistic competition….………………………………...…...… 15 Long run ………….……………………………....………………… 16 Oligopoly……..………………………………….…………………. 20 Conclusion …………………………………………………………. 24 INTRODUCTION The local pineapple, cv Victoria, is the second horticultural produce after Anthurium, with the highest export volume. Indeed, since the early 80’s, the Mauritian pineapple has been permanently on the European market in spite of drought or cyclones. The export volume has increased from 10 t in mid 80’s to more than 600 t presently and the local variety, Victoria already earns a good...
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...How the sugar sector in Mauritius responded to the different challenges it faced due to changing market environment | | Chandonee DEEPCHAND RENE | 9/15/2014 | Operations Management is of primary importance to any business or organization. This paper gives an overview o f the different areas which affects operational decision makings and the challenges that operations managers face with changing market environment. Finally it looks into how the Mauritian Sugar Industry have risen to these challenges through operations changes and maintain both the industry and Mauritian economy viable. | Contents 1. Introduction 4 2. Factors affecting operations decision making. 5 2.1. Quality 5 2.2. Product/service Design 6 2.3. Layout facilities 7 2.3.1. Economies in Handling 8 2.3.2. Effective Use of Available Area 8 2.3.3. Minimization of Production Delays 8 2.3.4. Improved Quality Control 8 2.3.5. Avoidance of Bottlenecks 8 2.3.6. Better Production Control 9 2.3.7. Better Supervision 9 2.4. Location the facility and Transporting materials and products 9 2.5. Designing jobs and work 10 2.6. Forecasting Demands for products and services 11 2.7. Production planning and scheduling 11 3. Changing Challenges for operational Managers 12 3.1. Globalisation 12 3.2. Just-in-time performance 12 3.3. Supply chain partnering 12 3.4. Rapid product development 13 4. Case Study: The Sugar Sector in Mauritius 13 4.1. Historical...
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...Research objectives The purpose of this thesis is to test whether Mauritius is truly a platform for tax evasion and to what extent the measures that are being taken by the Government to combat this bad publicity are effective. The specific objectives of this study are: To understand the purpose and functioning of treaty arrangements Mauritius has with other countries throughout the world. To test the effectiveness of the measures to combat tax evasion. To test the knowledge of employees in the global business sector. Research questions To what extent employees understand the tax regime for global companies? Based on their experience, how complicated do they perceive the tax regime to be? Do they believe that Mauritius is a tax...
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...Income Tax E-Filing – To what extent has it been accepted in Mauritius? Submitted by: ID number: Course name: Date of submission: Lecturer’s name: Table of Contents * Introduction * Problem Statement * Aims and Objectives * Literature Review * Research Methodology * The Gantt Chart * Budgeting * References Introduction Information communication technology is being integrated to deliver better and convenient public services by the government in various ways under the e- governance program around the world. Filing income tax return online is one such ambitious initiative under e-governance. Tax e-filing has been adopted by many developed countries today where the public has to discharge their responsibility to the tax authorities. In line with the Government’s Maurice Ile Durable strategy with the view of becoming an environment friendly organisation and for better tax administration and good governance practices, the Mauritius Revenue Authority (MRA) launched the Electronic Filing of Returns Facilities for individuals on 21st August 2009. The E Filing season 2014 has an innovative feature such that Electronic filing may now also take place via any electronic device (namely smartphones, tablets, iPhone, iPads, etc.) Furthermore, the MRA is also organising a Free Income Tax Assistance (FITA) campaign in Mauritius and Rodrigues. Taxpayers visiting the FITA centres will be able to file their returns...
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...ADOPTED BY THE GOVERNMENT OF MAURITIUS TO PROMOTE FDI 10 INVESTMENT POLICIES 10 1. LEGISLATION 11 Law Practitioners Act 12 Companies Act 12 Public Procurement Act 13 Competition Act 13 Trade and Investment Framework Agreement 13 Employments Rights Act and Employment Relations Act 14 Financial Services Act 14 Securities Act 14 Insolvency Act 14 Other investment incentives 15 TRIPS Agreement 15 2. Fiscal policy 16 3. LIBERALISATIONAND DIVERSIFICATION 17 4. MACROECONOMIC STABILITY 19 Social and political stability 19 Exchange Control 20 Inflation control 20 5. FINANCIAL SERVICES 20 6. INVESTMENT FACILITATION 26 7. LABOUR MARKET REFORM 27 8. INFRASTRUCTURE 27 Transport 28 Telecommunication network 28 Building Premises 29 TOP SECTORS ATTRACTING FDI IN MAURITIUS 30 FINANCIAL HUB 31 REAL ESTATE ACTIVITY 31 INFORMATION TECHNOLOGY AND OUTSOURCING SERVICES 32 MANUFACTURING SECTOR 33 SEAFOODS HUB 34 TOURISM SECTOR 35 THE TWO RECENTLY SECTORS WHICH ARE EXPECTED TO GROW AND DEVELOP: 36 KNOWLEDGE HUB 36 MEDICAL 37 FDI EVOLUTION MAURITIUS 38 SPECIAL CONSTRAINTS AND CHALLENGES 41 SUCCESSES AND CHALLENGES 42 THE ECONOMIC FUTURE OF MAURITIUS 43 FUTURE AIMS: 44 CONCLUSION 45 REFERENCES 46 LIST OF ABBREVIATIONS AGOA: African Growth and Opportunity Act BOI: Board of Investment BOM: Bank of Mauritius COMESA: Common Market for Eastern...
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...HFM FOCUS mauritius SPONSORED FEATURE MAUrITIUS in a comparatively short time, mauritius has established itself as one of the most reliable and skilled financial services centres in the world. HFmweek speaks to some key figures about the region’s growing success in the hedge fund industry and its potential for further growth STeVe FlYNN is the chief executive of the global business companies within the cim group. He has experience in offshore, financial services and corporate administration in the uK, bermuda, india, luxembourg and south africa. steve has worked with a number of financial services companies, the most recent being commercial union, maitland Fund services, Fidelity investments, credit suisse life and Pensions and ernst & Young bermuda. ASHWIN JUGBANDHAN is a Fellow of the association of chartered certified accountants, member of the uK securities & investment institute and general manager at imm. He has experience in global fund administration in mauritius, guernsey and channel islands. He advises multinational corporations and fund managers on regulatory matters, structuring, establishment and funds. He holds a number of directorships, including listed entities. M ” auritius is famed for its idyllic beauty as a holiday destination, but in financial circles, it is also becoming wellknown as one of the most trusted and competent financial services centres globally. In 2008 the financial services sector amounted to 12% of Mauritian GDP, only slightly...
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...INTRODUCTION The Mauritian Financial services sector has witnessed a rapid growth since recent years and it is now one of the main pillars of the economy. The sector has stepped up its role in the economy partly due to the government support to the industry. Mauritius has therefore proved to be a leading international Financial Centre for Asian and African investments. The newly launched Global business sector backed by a growing banking sector and a profitable stock Exchange in the early 1990’s strengthened the Mauritius International Financial Centre. The Mauritian Financial services sector consists of banking, global business, insurance and re-insurance and other non-banking financial intermediaries. This is better explained below: The Mauritian Financial Services Sector Banking (regulated by Bank of Mauritius) Non-banking -Banks of Mauritius (regulated by FSC) -Foreign Exchange Dealers - Stock Market - Insurance sector -Global business sector ...
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...been impacted by the Western world and have become globalized. The countries of Botswana and Mauritius are examples of recent globalization of native non-western cultures. Both countries had marked changes socially and economically post globalization. Impact of Globalization Botswana and Mauritius are two countries that recently experienced independence from Great Britain followed by globalization. Botswana was a colony of Great Britain until 1966. Under Great Britain’s rule poverty was extreme and Botswana lacked infrastructure. The country was tribal and its main economic force consisted of trading and bartering cattle. Independence was achieved in 1966 and the following year the government partnered with the international diamond company DeBeers and created a business relationship that would leave Botswana with the fastest growing economy in the world (Kilgour, 2000). Even though the mining of diamonds is the mainstay in Botswana, tourism is an economic contributor. The Kalahari Desert draws a high amount of tourism interest due to the diversity of species in the Okavango Delta and has become a top safari destination. Botswana’s economic success has allowed for improvement in its infrastructure and educational opportunities not previously available within the country (Mbaiwa, 2003). The government lacks corruption and is revered as the safest country in Africa. Mauritius is a small island in the Indian Ocean off the coast of Africa near Madagascar. It also was a...
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