adminOffshore accounts: Banks defy RBZ
Victoria Ruzvidzo Managing Editor
THE Reserve Bank has turned down applications by Standard Chartered Bank and Barclays Bank to keep over 25 percent of their Nostro account balances offshore as it emerged yesterday that some banks had partially complied with the directive to transfer 75 percent of their funds to onshore accounts.
RBZ Governor Dr Gideon Gono yesterday said the central bank will descend heavily on the truant banks.
Statistics show that Nostro balances for 22 banks stood at US$312, 6 million as of yesterday, instead of US$230 million had all the banks heeded the RBZ directive.
At least US$82 million was outstanding as of yesterday.
The lighter side of Zimpapers Talk Radio auditions
Richmore Tera
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An exercise in duplicity
Film: The Fourth Kind
Cast: Milla Jovovich, Will Patton, Elias Koteas, Corey Johnson, Julian Vengov, Enyo Celenti.
Director: Olatunda Osunsanmi
Dynamos open talks with Arubi
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Sulu descends on Spillway
Entertainment Reporter
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Change of attitude determines altitude
Richard Kohola Music Ride
What does performing mean to you? Is it about sharing or telling a story through music, or is it about trying to achieve perfection? You also need to ask yourself whether it is about self-esteem or self-worth,
Artistes trek to Bulawayo for better fortunes
Ruth Butaumocho Entertainment Editor
Bulawayo is fast becoming the hub of artistic excellence, amid revelations that several artistes from Harare have been trekking down to the City of Kings to audition for theatrical productions. For some of
Peter, Tryson unleashed! . . . as Beverly returns to City Sports Bar
Richmore Tera Arts Correspondent
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Europe shares rise on hopes for Greek bond swap deal
LONDON. — European shares pushed higher yesterday, with investors betting Greece will be able to pull off a key bond swap and avoid a chaotic default, and also reflecting optimism about prospects for companies with global exposure. The markets, however, is likely to remain volatile ahead of a deadline
IMF moves towards power reform
WASHINGTON. — The International Monetary Fund’s executive board on Wednesday moved towards a fundamental restructuring of voting rights that will give more clout to emerging economies like China and Brazil, a source close to the board told AFP. The board agreed on the outlines of a new structure for