Weekly Update: Banks reduce lending and savings rates

Expat news
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Written by Arnaud Tuyau on 10 October, 2024
This week's headlines include adjustments in local bank interest rates, a shark attack on two tourists in Tamarin, the resumption of Air Mauritius seasonal flights to Geneva, and more. Additionally, a British man was apprehended at Plaisance airport with 20 kg of cannabis.

Key rate at 4%: Commercial banks lower interest rates

Following the Bank of Mauritius' move to increase the key interest rate to 4%, commercial banks have responded by lowering their lending and savings rates. Savings rates now stand at 2.60% at Absa, MCB, SBM, and SBI, while lending rates vary: 6.95% at Absa, 6.25% at MCB, 6.55% at SBM and Afrasia, and 7.00% at SBI.

Tamarin: Shark attack on two Chinese tourists

A disturbance struck the Tamarin lagoon on Mauritius' west coast as two Chinese tourists were attacked by a shark during a scuba diving excursion. Though their injuries were minor, they were swiftly transported to Yves Cantin hospital for treatment. This incident reinforces the need for vigilance during aquatic activities. Meanwhile, the Mauritius Tourism Authority is drafting new regulations for certain excursions, including dolphin swimming, which remains permitted under strict conditions. Swimming with whales, however, is strictly banned.

Air Mauritius resumes direct flights to Geneva

Travelers have reason to rejoice, as Air Mauritius has resumed its seasonal direct flights between Mauritius and Geneva. For the second consecutive year, the airline will offer two weekly flights on Mondays and Fridays, beginning October 4, 2024. Operated by Airbus A330-900neo, these flights will continue until April 28, 2025. Departure from Geneva is scheduled for 9:10 p.m. (until October 26) or 9:15 p.m. (from October 28), arriving in Mauritius the following day at 10:15 a.m. or 11:20 a.m., depending on the schedule. In the reverse direction, flights leave Mauritius at 9:20 a.m. or 10:30 a.m., landing in Geneva at 7:20 p.m. or 7:30 p.m.

Drug trafficking: British national arrested with 20 kg of Cannabis

The Anti-Drug and Smuggling Unit (ADSU) thwarted a drug trafficking attempt at Plaisance airport. Symon James Skelly, a 55-year-old British national, was arrested while attempting to smuggle 20.4 kg of cannabis hidden in his luggage. Having visited Mauritius twice before, Skelly had raised suspicions among the authorities. After monitoring his activities, investigators arrested him upon arrival from La Réunion. His itinerary, which included stops in Cambodia and Thailand, further piqued the interest of law enforcement. A total of 34 sachets of suspected cannabis leaves and two sachets of ointment were confiscated.

About Arnaud Tuyau

With over a decade of experience as a former journalist and editorial secretary in the Mauritian press, I have been working as a freelance content writer and translator for more than two years.