adminGono, Biti take the gloves off
Golden Sibanda and Farirai Machivenyika
RESERVE Bank Governor Dr Gideon Gono says there is no going back on the new US$100 million capital requirements for banks, but Finance Minister Tendai Biti says he needs to meet the central bank chief over the issue.
Speaking on the sidelines of a Press conference in Harare yesterday, Minister Biti said he wanted the new minimum capital thresholds clarified.
“I am going to meet the governor and we will clarify on that (issue of new minimum capital reserves) and we will issue a statement on that,” said Minister Biti.
However, Dr Gono says the new thresholds are critical to achieving a sound financial system.
Addressing bankers following an appeal by the Bankers Association of Zimbabwe for a reduction of the minimum capital thresholds to not more than US$20 million for commercial banks by December 2013, Dr Gono said there was a positive correlation between higher capital levels and profitability, bank charges, credit extension and confidence.
‘EU’s actions on sanctions meaningless’
Takunda Maodza in LUSAKA, Zambia
PRESIDENT Mugabe has dismissed as meaningless the European Union’s selective removal of people from its sanctions list.
Speaking at a dinner hosted in his honour by his Zambian counterpart President Michael Sata at State House here on Thursday, President Mugabe called for the unconditional lifting of the sanctions.
The Head of State and Government and Commander-in-Chief of the Zimbabwe Defence Forces is here on a state visit.
He will officially open the 86th edition of the Zambia Agricultural and Commercial Show today.
“On sanctions, the recent behaviour of the authors of these debilitating restrictions clearly shows that they are failing to garner the moral courage to accept that Zimbabwe has moved on and that their sanctions, which were never justified in the first place, should be removed without preconditions,” said President Mugabe.
“The charade, which sees an annual token removal of people from the sanctions’ list and the recent purported suspension of the so-called appropriate measures is meaningless as there will be no real change on the overall negative impact of sanctions on our people.”
Zimbabwe, said President Mugabe, needed the immediate and unconditional removal of sanctions.
Council names road after General Mujuru
Municipal Reporter
HARARE City Council has renamed Enterprise Road after national hero and retired army General Solomon Mujuru.
Parliament summons MPs, Senators to resume sitting
Herald ReporterPARLIAMENT has summoned all legislators to resume sitting on Tuesday for parliamentary business.
In a statement yesterday Clerk of Parliament Mr Austin Zvoma said following representations from
Poison suspect granted bail
Innocent Ruwende Senior Court ReporterA PAIR Trade Investments transport and logistics manager who was arrested over the delivery of toxic sodium cyanide to Harare’s main waterworks was yesterday granted US$1 500 bail, coupled with
SA happy with GPA progress
Herald ReporterSOUTH Africa is happy with the progress that has been made by Zimbabwe in the implementation of the Global Political Agreement, South African ambassador to Zimbabwe Vusa Mavimbela has said. Sadc
Herald reporter Madera dies
Herald Reporter
HERALD senior business reporter Bright Madera has died. He was 32. Madera drowned at Caribbea Bay Hotel swimming pool in Kariba yesterday. He went to Kariba on Thursday on assignment to cover the
Zim: Yawning beneath the Tower of Babel
Is Zimbabwe a victim of the Babel Curse? I wonder. But first, Tendai Biti. Quite a humourous guy, is he not? So humourous that he does not mind laughing at himself even. I am of course referring to his unremitting weight loss and his claim that veterans of the liberation war are behind it!
As indeed are girls he can’t phone anymore! Food for thought. His right to happiness has been squandered by those who liberated him, those who loved him. Where would he rather be, rather be
In the last 10 years, only one Harare Derby showdown has been won by a margin that is more than one goal
In terms of performance, it was the best that I have seen CAPS United play this season, far better than their 3-1 victory over FC Platinum at the giant stadium, and even their fans, as much as this defeat hurt, appeared to acknowledge that their men had given it all.After the City of Kings finally woke up from its slumber to stage a spectacular show, in hosting its biggest football match in years, the challenge was inevitably thrown to the capital to respond.
Obama authorises secret support for Syrian rebels
President Barack Obama has signed a secret order authorising US support for rebels seeking to depose Syrian President Bashar al-Assad and his government, sources familiar with the matter said.