AGP Executive Report
Last update: 9 hours agoCross-border Payments: The Maldives went live with the Favara-UPI corridor, letting people in the Maldives make real-time person-to-person transfers to UPI-enabled bank accounts in India via mobile banking, starting with Bank of Maldives and Maldives Islamic Bank and permitted remittance categories like family maintenance and gifts. Digital Payments Growth: India’s UPI kept accelerating, with July volumes up 22% year-on-year to 23.66 billion transactions and value up 19% to Rs 29.88 lakh crore, underscoring the scale of the rails now being exported. Local Business & Finance (Mauritius link): Zee Entertainment shareholders approved a Rs 3,143.5 crore promoter fund infusion through fully convertible warrants to Sunbright Mauritius Investments, lifting promoter shareholding to 23.79%, alongside approval of an employee stock option plan. Trade & Mobility (Mauritius relevance): The U.S. is restructuring visa processing across Africa from August 1, moving routine services to regional hubs that include Port Louis, affecting where applicants must apply. Maritime Security Training in Mauritius: IRClass Academy delivered a three-day Port Facility Security Officer (PFSO) training in Mauritius for port and maritime professionals, aimed at strengthening port security preparedness. Minimum Wages (Mauritius in ranking): Mauritius topped a 2026 minimum wage list at about $374.21 per month, ahead of Morocco and South Africa, with Libya ranked ninth.
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