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Mauritius and Saudi Arabia sign memorandum of understanding to combat financial crime
via Le Mauricien3 min read
The Financial Crimes Commission FCC of Mauritius and Saudi Arabia's Oversight and Anti-Corruption Authority NAZAHA have signed a memorandum of understanding in Réduit to strengthen cooperation against corruption, money laundering, and other financial offenses. The agreement, signed by FCC Director General Titrudeo Dawoodarry and NAZAHA President Mazin bin Ibrahim Al-Kahmous, facilitates the exchange of information, research, and analysis on criminal networks, as well as expertise and best practices for prevention and investigation. The partnership also includes joint training, seminars, conferences, and workshops to enhance the skills of investigators and law enforcement. NAZAHA President Al-Kahmous stated that the protocol will boost cooperation in preventing, investigating, and prosecuting corruption, reaffirming Saudi Arabia's commitment to fighting corruption through independent institutions and international initiatives. FCC Director General Dawoodarry called the signing a significant step in strengthening the partnership, promoting technical cooperation, information exchange, and institutional capacity building in line with international standards and the UN Convention Against Corruption. Mauritius's Ambassador to Saudi Arabia, Riad Hullemuth, noted the agreement reflects both countries' shared commitment to integrity, transparency, and good governance, while consolidating bilateral relations. A Saudi delegation, led by NAZAHA President Mazin Ibn Ibrahim Al-Kahmous, als
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This summary was AI-generated from a story originally published by Le Mauricien.
A leak from an Indian Oil pipeline at the port's oil terminal on Tuesday, around 2:30 PM, led to a spill of approximately 200 liters of heavy fuel oil. The Mauritius Ports Authority MPA immediately activated its emergency response, including the Port Louis Harbour Oil Spill Response Plan, to contain the spread. Absorbent booms were deployed around the affected area to limit the oil slick's progression, and a clamp was placed on the faulty pipeline to stop the leak. Environmental Police teams and Ministry officials were dispatched to monitor the situation and assess the environmental impact. An investigation has been launched to determine the cause of the leak and assign responsibility. The Ministry of Environment stated that all necessary measures are being taken to manage the incident and minimize its consequences on the marine ecosystem.
Must ReadThe global oil market experienced its largest disruption in decades following the war in the Middle East, yet crude prices settled between $90 and $100 per barrel, lower than many anticipated. This was due to a combination of factors that cushioned the initial blow, though much of this capacity has now been utilized. The war effectively closed the Strait of Hormuz, cutting off approximately 20 million barrels per day of crude oil and refined products, which is a fifth of global consumption. Despite some redirection efforts by Gulf producers, only a fraction of lost volumes was offset. Refined product output, particularly diesel and jet fuel, also dropped significantly. By the end of May, over 1.1 billion barrels of crude had not reached the market, exceeding shortfalls seen in previous oil shocks. The global system absorbed this disruption through three main shock absorbers: demand compression, especially in Asia, as higher prices reduced consumption and economies shifted to alternatives; increased production outside the Gulf, notably from the United States, Venezuela, Guyana, and Russia; and the drawdown of global inventories, including commercial stocks in China and strategic reserves. While a US-Iran framework agreement to reopen the strait initially lowered prices, uncertainties remain regarding the full restoration of navigation and the time it will take for shipping and insurance confidence to return. Industry estimates suggest it will take two to three months for signi
During a bail application hearing for Malagasy businessman Mamy Ravatomanga, his lawyer, Me Kushal Lobine, accused the Financial Crimes Commission FCC of misleading the court and employing "delaying tactics." Ravatomanga appeared via videoconference from Melrose high-security prison. The FCC opposed bail, citing concerns about Ravatomanga's lack of a fixed place of abode in Mauritius, a point previously upheld by the Supreme Court on May 26, confirming a December 30, 2025, decision by the Bail and Remand Court. The current application addresses points raised by the Supreme Court. An FCC investigator stated that checks with the owner of a Belle-Vue Harel residence, where Ravatomanga's daughter claimed to have a rental agreement to house her father, indicated the lease expired on August 26, 2026. However, under cross-examination, the investigator admitted unawareness of a June 29, 2026, correspondence from Me Lobine to the FCC. Me Lobine asserted this correspondence, sent three weeks prior, included an affidavit from the property owner confirming the lease had been renewed for an additional two years, expiring on August 26, 2028, and that the owner had no objection to Ravatomanga residing there. Me Lobine accused the FCC investigator of providing erroneous information and acting in bad faith, and the FCC of using delaying tactics by taking three weeks to clarify its position and requesting further adjournment. He also highlighted his client's precarious health and safety concer