Search Results for: Mauritius

BY STEVEN SWINDELLS, in Johannesburg

THE FORTEEN countries of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) have their AML/CFT work cut out. Under-funded, lacking resources, short of political will and working in a region that leaks money like a sieve…it is a demanding context for the group’s daunting tasks.…

BY KEITH NUTHALL
THE EUROPEAN Investment Bank (EIB) has unveiled plans to lend Club Méditerranée (Club Med) up to Euro 19 million to construct, launch and initially operate a high-end beach resort in Albion, Mauritius. The whole project is to cost between Euro 48 and 51 million and should boost the island’s tourist trade, said the EIB.…

BY KEITH NUTHALL
THAT criminals abuse the insurance industry is nothing new for a sector routinely screening claims for hints of fraud. However, its managers have proved far less alert to the risk of it being exploited by money launderers and terrorist financers, a new detailed report has claimed.…

Keith Nuthall
CIVIL unrest could be sparked in smaller developing countries next year by the abolition of World Trade Organisation (WTO) textile trade quotas and resulting loss of export markets to Chinese competition, new European Union

(EU) trade Commissioner Peter Mandelson has claimed.…

BY KEITH NUTHALL
A SIX year fishing agreement struck between the European Commission and the Seychelles has reduced access for European Union (EU) tuna boats to answer criticism that similar past deals have been emptying developing world waters of fish. The new agreement with the Seychelles – lasting from January 2005 to 2011 – cuts fishing opportunities for tuna long-liners by 15% by 2006.…

BY KEITH NUTHALL
CHINA has resisted calls at the World Trade Organisation (WTO) by its developing country competitors for special efforts to protect them from economic dislocation caused by January’s end of textile import quotas. Mauritius, Bangladesh, the Dominican Republic, Fiji, Madagascar, Sri Lanka and Uganda pushed at a WTO Council on the Trade in Goods for a WTO secretariat study identifying the likely problems and recommending solutions.…

BY KEITH NUTHALL
A NOVEL ‘speed dating’ system at the first global ICT (information communication technology) forum for least developed countries, proved a success, said organisers. Held in Mauritius, potential donors, investors and beneficiary governments identified areas of common interest in one-to-one meetings.…

BY KEITH NUTHALL
THE EUROPEAN Investment Bank (EIB) is planning to inject up to US$8 million into the Mauritius-based African Lion II equity investment fund to boost early-stage African mining exploration and development projects. The EIB wants to promote the “development of the small-medium scale mining sector in Africa”, adding African Lion schemes would comply with best environmental practice.…

BY KEITH NUTHALL
WORLD Trade Organisation (WTO) director-general Dr Supachai Panitchpakdi has launched talks with member countries on maybe staging an emergency meeting of the WTO council for trade in goods on the oncoming abolition of textiles and clothing quotas. He has been consulting on this idea, proposed by Mauritius, Bangladesh and Nepal, which want the council to examine the costs of adjusting to a global quota-free regime from January, under the WTO’s agreement on textiles and clothing.…

Keith Nuthall
USA sales of textile and clothing made in sub-Saharan Africa have been increasing solidly as a result of the African Growth and Opportunity Act, which promotes trade by allowing duty free exports of products into America. That is the conclusion of a new report from the US Trade Representative (USTR) office on the act’s influence on trade and investment policy towards and in the region.…