Money Mauritius

Households, Corporations And Banks Are Hoarding $14 Trillion Cash

The amount of cash in the hands of households, banks and corporations is at an all-time historic high, some $14 trillion in all, as anxious, uncertain citizens, bank execs and corporate treasurers hoard their cash until the future course of Fed policy and the direction of the U.S. economy become clearer. Balance sheets have been repaired and the cash being hoarded just might be the fuel for modest growth accelerating.

20 Jul 2013, business.mega.mu

Declining Purchasing Power: Visible Slowdown in Consumption

Mauritians do not consume as much as before. And it shows in small shops, supermarkets and shopping malls. Several reasons have been singled out.

17 Jul 2013, business.mega.mu

'Basket Ration': Between April and June Increase on Rs 475

Between April and June, the food basket has increased by Rs 475, says the Confederation of Private Sector Workers, which is based on the budget of a small family of four with revenues of Rs 10,000 per month.

15 Jul 2013, business.mega.mu

Transferring Money Abroad: Banks Drain Your Wallet

Rs 900: This is the amount that a customer of a commercial bank paid for the transfer of money abroad, upon receipt of a letter to that effect. By signing the application for the transfer of money, it was well accepted that the transfer costs are deducted from his account, but he had not been informed of the amount of these costs.

10 Jul 2013, business.mega.mu

Reduce Spending

We buy, we buy and buy again. When some people have money in their pockets, they want to spend on purchases. But they always buy what is necessary? Or do they buy too? How to spend less?

08 Jul 2013, business.mega.mu

Rate Cut, Savings: Retirees Gain Crumbs

Unheard of! If banks charge lower interest rate, in the order of 25 basis points rate savings turn averaged around 3.4%. They are retirees who depend on interest income on their savings to survive, who will suffer most.

19 Jun 2013, business.mega.mu

New salaries of Officials: Ramgoolam Paid More than the Prime Ministers of India and Spain

Our MPs will vote on Tuesday for a 30% increase in average wages. This statement is an indication of the salaries of political leaders around the world. It does not constitute a comparative exercise as more factors specific to each country involved to bring those salaries.

18 Jun 2013, business.mega.mu

Controversy: New Coins Rs 1 and Rs 5 too Thick!

Controversy over a new coins of one rupee and five rupees. Slightly thicker than the traditional coins, or 0.5 millimeter more, they are not included in the devices when using a cart or in coffee vending machines. According to the Bank of Mauritius, it is not a malfunction.

06 Jun 2013, business.mega.mu

Buying on Credit: Do Not Be Fooled

Credit sales are governed under one law: The 'Hire Purchase and Credit Sales Act'. This includes, in addition to the conditions of the credit sale, a standard contract, which takes into account the interest of the buyer like the seller. In addition, the newly revised downward to 19% interest rate is calculated on the mode diminishing balance '.

29 May 2013, business.mega.mu

Moneylenders: Easy Money ... Price to Pay

They lend money at interest rates above the statutory rate. Usurers, known as 'loan sharks' are often unscrupulous people who take advantage of the misfortunes of others to fill their pockets. However, despite the warnings of the authorities, many Mauritians are trapped.

28 May 2013, business.mega.mu

The Bank of Mauritius Will Issue Plastic Banknotes Soon

The Bank of Mauritius will soon issue banknotes plastic, specifically polypropylene. This was announced by Deputy Prime Minister and Finance Minister Xavier-Luc Duval, on his Facebook page, in the evening this Friday, May 24

25 May 2013, business.mega.mu

These 5 Start-ups Will Change the Way You Pay for Everything

Digital wallets have long been in the news, but the hottest trend is peer-to-peer payments and apps that help small business owners ditch their cash register.

24 May 2013, business.mega.mu

Dans Le Sud : Le Réseau de Faux Billets en Passe d'Etre Démantelé

La Criminal Investigation Division du Sud, agissant sous la supervision de l'ACP Gunga, est en passe de faire voler en éclats un trafic de faux billets de Rs 2 000 mis en œuvre depuis un certain temps dans cette partie de l'île. Pour l'heure, trois suspects ont été arrêtés, dont deux mineurs âgés de 16 et 17 ans.

20 May 2013, business.mega.mu

South: Operating Fake Rs 2000 is Confirmed

The discovery of a counterfeit Rs 2000 in a commercial bank in the South Wednesday confirms a network of "counterfeit notes" is in place in this part of the country for some time.

17 May 2013, business.mega.mu

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.

16 May 2013, business.mega.mu

To Be Born Poor Doesn't Mean You'll Always Be Poor

Long after he had established himself as one of America’s leading businessmen, as well as history’s greatest steelmaker, Andrew Carnegie reflected that “We all live in the richest and freest country in the world, where no man is limited except by his own mental attitude and his own desires.”

10 May 2013, business.mega.mu

Understanding the Bitcoin

Bitcoin, a digital currency, hit the headlines after a phenomenal rise and fall in its value in the last few weeks. Since its launch in 2009, it has garnered a fan-following as well as harsh critics.

10 May 2013, business.mega.mu

How Stores Manipulate Your Senses So You Spend More Money

When you walk into almost any store, you're immediately overloaded with sights, sounds, smells, and various things to touch. This barrage on your senses are hand-picked for one goal: to make you spend more. Here's what's going on.

23 Apr 2013, business.mega.mu

Four Reasons Bitcoin Is Worth Studying

As Adam Ozimek points out Bitcoin has so far largely been greeted with eye-rolling by professional economists. One reason is that the cryptocurrency’s most enthusiastic advocates tend to subscribe to a hard-money, end-the-Fed worldview that is unpopular among elites.

09 Apr 2013, business.mega.mu

How to Ask a Fried or Relative to Pay You Back

As far as unpleasant tasks go, asking a relative or friend to repay a loan ranks up there with getting your wisdom teeth pulled or spending a weekend alone with your in-laws.

26 Mar 2013, business.mega.mu