<B>Indian bank set to control IOIB shareholding</B>

The Bank of Mauritius must be satisfied. An agreement has been signed between the Indian Ocean International Bank (IOIB) and the State Bank of India (SBI), which makes the latter the main shareholder of the former. Sam Cunden, the main IOIB shareholder, has sold quite a high percentage of his shares to the SBI. While the Banking Act states that no shareholder should own more than 10% of the shares in a company, Sam Cunden possessed 40%. If the SBI manages to get all Sam Cunden?s shares, then it will gain control of the IOIB.

<B>Conflict of interests for ex-Chief Justice </B>

The Sale by Levy saga is still on. It is Sir Victor Glover?s turn to be on Harish Boodhoo?s hit list. The ?father? of the commission of enquiry into Sale by levy is accusing its president of conflict of interests. While he was chairing the commission, he was also the legal adviser of the Mauritius Bankers? Association. ?This is why no banker has been called to testify before the commission (while) 90% of the victims were bank customers.? The former chief justice has refused to make any comment.

<B>Water treatment for Rs 850 m</B>

The Central Water Authority (CWA) is investing Rs 850 million in the Mare-aux-Vacoas Water Supply Project, which should be ready in March. This project will allow the CWA to double its water treatment capacity from Mare-aux-Vacoas reservoir to meet the growing demand for drinking water. This project is meant to benefit the 430,000 people living in Plaines-Wilhems, Moka and Black River.

<B>High-tech equipment for hospitals </B>

The health sector is modernizing and this will benefit all patients. Victoria Hospital inaugurated two new units yesterday: the Angiography and Hyperbaric Medicine Unit. The first should treat a thousand patients every year. Before the opening of this unit, all patients had to go to Pamplemousses Cardiac Centre, which was the only place where they could undergo angiography. The Hyperbaric Medecine Unit is aimed at meeting the needs of people who suffer from vascular problems for instance, and victims of diving accidents. Rs 450 million have already been invested in the purchase of high-tech machines for the five hospitals of the island.