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Mauritius business confidence recovers in last quarter of


PORT LOUIS Jan 29 A recovery in domestic demand buoyed business confidence in Mauritius during the last quarter of 2014 after declining over three consecutive quarters, a survey of leading private sector companies showed on Thursday. The Mauritius Chamber of Commerce and Industry's quarterly confidence index climbed 6.4 percent to 82.5 points. The Indian Ocean island's economy has slowly been recovering from the global financial crisis which hurt tourist arrivals, particularly from Europe. The economy grew 3.5 percent last year, up from 3.2 percent in 2013, Statistics Mauritius.

Chamber of commerce economist Renganaden Padayachy told a news conference that more than 60 percent of business leaders interviewed during the survey said they had noted an increase in demand during the last quarter.

Padayachy said the growth rate could rise further if the cost of doing business was reduced further in Mauritius.

"The growth rate can climb higher than 6 percent in the short to medium term if Mauritius takes appropriate actions with regard to cost of doing business," Padayachy said.

Money market funds fell by $138 billion in latest week ici


The Investment Company Institute on Thursday issued the following money market mutual fund assets report:"Total money market mutual fund assets decreased by $1.38 billion to $2.562 trillion for the week ended Wednesday, October 10, the Investment Company Institute reported today. Taxable government funds decreased by $3.89 billion, taxable non-government funds increased by $4.64 billion, and tax-exempt funds decreased by $2.13 billion. Retail: Assets of retail money market funds decreased by $2.90 billion to $886.96 billion. Taxable government money market fund assets in the retail category decreased by $190 million to $186.11 billion, taxable non-government money market fund assets decreased by $1.84 billion to $512.00 billion, and tax-exempt fund assets decreased by $860 million to $188.84 billion.

Institutional: Assets of institutional money market funds increased by $1.52 billion to $1.675 trillion. Among institutional funds, taxable government money market fund assets decreased by $3.70 billion to $670.47 billion, taxable non-government money market fund assets increased by $6.49 billion to $924.21 billion, and tax-exempt fund assets decreased by $1.27 billion to $80.78 billion.

ICI reports money market fund assets to the Federal Reserve each week. Revisions are due to data adjustments, reclassifications, and changes in the number of funds reporting. Weekly money market assets for the last 20 weeks are available on the ICI website."