Barclays CEO Diamond resigns over bank’s rate rigging

LONDON. — Barclays bank chief executive Bob Diamond resigned yesterday, caving in to political pressure over a rate rigging scandal which may trigger criminal charges and is bringing the City of London into disrepute.

Ferrari designer Pininfarina dies at 85

ROME. — The Italian godfather of car design, Sergio Pininfarina, renowned for crafting sleek Ferrari race cars and revolutionising the common automobile, died yesterday aged 85, Italian media reported.

Let us keep Zimbabwe clean

Littering the environment has a negative impact on our planet and damages areas where we live, work, and play.

Opportunities galore at Careers Expo

Cool Lifestyle Reporter
The Harare Gardens was recently a hive of activity as the inaugural Speciss College Careers Expo brought together students, examining bodies, industry representatives and tuition providers.

Teens digging their own graves

Winstone Antonio
Money is the root of all evil, but how evil is the money?

Parties quarrel over Electoral Act

Herald Reporters
PARTIES in the inclusive Government are not agreed on how the next election will be conducted, differences that have stalled the Electoral Amendment Bill.
The differences on the Bill are on the set up of polling stations, with Zanu-PF calling for a voters’ roll based on a particular polling station.

On the other hand, the MDC-T wants the ward-based voters’ roll to be retained.
There is now a possibility that the next election could be held without the amended Electoral Act.
Justice and Legal Affairs Minister Patrick Chinamasa yesterday said differences on the Bill had emerged, despite the fact that the Bill had been negotiated.

“There is now a tug of war on an issue that we had already agreed as parties,” Minister Chinamasa said.
“We had agreed that we will have a polling station-specific voters’ roll, but our friends in the MDC-T are now singing a different tune.”

Minister Chinamasa said the three parties in the inclusive Government had endorsed the proposed Bill during the negotiations and in Cabinet.
He said the rationale behind the polling station-specific voters’ roll was to get rid of double voting and ghost voters.

“The MDC-T says they want the current ward-based voters’ roll, but we are saying the polling station-specific voters’ roll will help us to discover deceased voters so that we can fish them out.

Lawyer delisted

Daniel Nemukuyu
Senior Court Reporter

A BULAWAYO lawyer has been delisted over improper conduct while seven others have their cases still pending before the Legal Practitioners Disciplinary Tribunal.

Mr Masimba Munjanja of Munjanja and Associates law firm in Bulawayo was delisted after he allegedly committed several cases involving abuse of trust funds and failure to properly represent clients among others.

Mr Munjanja’s delisting brings to five the number of lawyers struck off the register since last year.
High Court judge Justice Chinembiri Bhunu, who chairs the tribunal last week ordered the deletion of Mr Munjanja’s name from the register of legal practitioners, notary publics and conveyancers in Zimbabwe.

The disciplinary hearing for Mr Munjanja had been set for last week in Justice Bhunu’s chambers, but an order was issued after Mr Munjanja chose not to oppose the matter.

He had initially filed a notice of opposition, but decided against it and issued a consent notice shortly before the hearing date.

Barclays moves to repair ‘devastating blow’ to reputation

LONDON — Barclays chairman Mr Marcus Agius resigned yesterday over interest rate rigging as the bank faced possible criminal prosecution in a scandal that has sullied London’s image as a financial centre.

The beleaguered bank announced his departure, and promised an independent audit, amid questions about the future of its chief executive Mr Bob Diamond and generally about morality in London’s financial sector.
Britain’s Serious Fraud Office said it was considering whether it was “both appropriate and possible to bring criminal prosecutions” over the issue, adding that it hoped to come to a conclusion within a month.

British finance minister George Osborne was set to address parliament on the matter at the time of going to press.
The manipulation of interest rates, which may turn out to implicate some other international banks, concerned the Libor and Euribor rates which play a key role on global markets, affecting what banks, businesses and individuals pay to borrow.

Barclays said that Mr Agius, who has chaired the bank for six years, would remain in his post until a successor was found.

Altars establish gates of power

Takura Rukwati

The Lord appeared to Abraham and said, “To your descendants I will give this land”. So he built an altar there to the Lord who had appeared to him. Then he proceeded to the mountain on the east of Bethel, and pitched his tent, with Bethel on the west and Ai on the east and there he built an altar to the Lord and called upon the name of the Lord. (Genesis 12 vs 7-8)

Last battle of the colonised

Panganai Kahuni

Frantz Fanon in the book the Wretched of the Earth said: “The last battle of the colonised against the coloniser will often be the fight for the colonised against each other.” April 1980 marked the end of the war between the colonised and the coloniser, but it, however, gave space to the Rhodesians to re-strategise.

×
×