Following are highlights of
Mauritius鈥?2012 budget C.J. Mosley Jersey , read to parliament on Friday by Finance
Minister Xavier Duval.


ON INFLATION


鈥淔or 2011, the inflation rate will be 6.5 percent.鈥?Duval
gave no forecast for the rate of inflation in 2012.


ON CURRENT ACCOUNT


鈥淕overnmet will for the first time in more than a decade
generate a surplus on its current account. That is why we will
have a public sector debt of 54.1 percent in 2012.


鈥淚n 2012 government will borrow only to finance investment
that will create wealth in the future.鈥?p>

ON GROWTH


鈥淒uring the next three years we will set growth on a more
steady course.鈥?p>

ON BANKING SECTOR


鈥淎fter protracted negotiations the banking sector has agreed
to release 3 billion rupees ($103.3 million) at 3 percent above
the repo rate for small and medium enterprises.鈥?p>

ON TAXES


鈥淚鈥檓 abolishing solidarity tax on dividends and interest 鈥?br >I鈥檓 abolishing capital gains tax on immovable property.鈥?p>

($1 = 29.050 Mauritius Rupees)
http:g7financeg7finance-newshighlights-mauritius-2012-budget-measures
Federal regulators have discovered that hundreds of millions of dollars in customer money have gone missing from MF Global in recent days, prompting an investigation into the company鈥檚 operations as it filed for bankruptcy on Monday, according to several people briefed on the matter.


The revelation of the missing money scuttled an 11th hour deal for MF Global to sell a major part of itself to a rival brokerage firm. MF Global, the powerhouse commodities brokerage run by Jon S. Corzine, had staked its survival on completing the deal.


Now, the investigation threatens to tarnish the reputation of Mr. Corzine, the former New Jersey Governor and Goldman Sachs chief who oversaw MF Global鈥檚 demise, making it the first American victim of Europe鈥檚 debt crisis.


What began as nearly $1 billion missing had dropped to less than $700 million by late Monday. It is unclear where the money went, and some money is expected to trickle in over the coming days as the firm sorts through the bankruptcy process, the people said.


But regulators are examining whether MF Global diverted some customer money to support its own trades as the firm teetered on the brink of collapse. If that was the case, it could violate a fundamental tenet of Wall Street regulation: Customers鈥?money must be kept separate from company money.


Such a finding would move the discussion from sloppy internal controls at MF Global to something more troubling. While the investigation is in its early days, it raises the specter that regulators could sanction the firm or the employees responsible.
MF Global filed for bankruptcy protection for the United States parent company on Monday, the first American financial casualty of the European debt crisis.

rl]