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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.
May 23 2012 22:00
Economic liberation or the lack thereof is the most divisive issue in the country, according to a survey.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
Maputo - Mozambique's parliament has voted to ease restrictions on the gambling industry, aiming to boost tourism as neighbouring South Africa hosts the World Cup next year, state media said on Thursday.
The law, which passed unanimously, reduces the investment required to open a casino from $15m to $8m, Noticias newspaper reported.
It also legalises electronic gambling and slot machines outside casinos, and transfers regulation of the gambling industry from the finance ministry to the tourism ministry.
Mozambique legalised casino gambling in 1994, but initially required casinos to be based in luxury hotels with at least 250 rooms.
Wednesday's law scraps the minimum room requirement and loosens restrictions on the areas where casinos can be built.
The approach of the World Cup has sparked a competition within southern Africa to attract teams and tourists to their countries in the down-time surrounding the games.
Mozambique is spending millions of dollars on infrastructure projects in anticipation of the Cup.
Officials hope to attract one or more teams to train here before the tournament, bringing with them contingents of staff, family, journalists and fans.
- AFP