adminCZI hails President’s call for peace
Golden Sibanda Senior Business Reporter LEADERS at every level should actively embrace and spread President Mugabe’s call for a peaceful election this year, the Confederation of Zimbabwe Industries has said.
CZI president Mr Kumbirai Katsande implored leaders to spread the President’s word of peace ahead, during and after the forthcoming harmonised polls so that it reaches every
NSSA insists on mergers
Business ReporterTHE National Social Security Authority says it will not capitalise any banking institution in which it has interests, but will instead consider merging their operations.
Last year, the Reserve Bank of Zimbabwe raised minimum capital thresholds for commercial and merchant banks from US$12,5 million and US$10 million to US$100 million
Money supply falls
Golden Sibanda Senior Business ReporterANNUAL broad money supply growth declined by 12,1 percent in the 12 months to January 2013 in a negative development for an economy in need of credit, the African Development Bank has said.
Banks getting away with murder
Bradwell Mhonderwa Business Ethics
STRONG legal and regulatory frameworks are a prerequisite for achieving good corporate governance and the growth of ethical business cultures in any business.A business environment that exhibits weak legal and regulatory processes makes it difficult for businesses to evolve from unorthodox means of doing business to responsible
Cyprus bailout hits charities, private schools
NICOSIA. — Charities, private schools and insurance firms with deposits in the troubled Bank of Cyprus will suffer a 27,5 percent haircut under the island’s EU bailout, the central bank said. They had all previously been exempt from a haircut in the bank restructuring required under the terms of the 10 billion euro bailout for Cyprus.Illegal oil dealers demand reprieve
ABUJA. — Illegal oil pirates and refinery operators in the Niger-Delta region of Nigeria have asked government to lift the blockade on their operations and stay of prosecution of detained dealers.‘German economy returning to growth’
FRANKFURT. — The German economy, which contracted at the end of last year, likely returned to growth in the first quarter of this year and the upward trend looks set to continue, the Bundesbank said yesterday.Lufthansa cancels domestic flights
FRANKFURT. — German airline Lufthansa said yesterday it has cancelled most of its domestic, European and long-haul flights at six German airports due to strike action by ground personnel and some cabin crew.Strengthen information sharing: Ban Ki-moon
Business ReporterIN recognition of power of information to shape better policies, guide development programs and increase accountability, United Nations Secretary-General Ban Ki-moon, with leaders of six multilateral financial institutions, announced yesterday that they would strengthen inter-agency sharing and collaboration on issues related to data and statistical
Rwanda to increase tea plantations
KIGALI. – One of Africa’s fastest growing economies, says it will increase the country’s tea plantations by 18 000 hectares by the end of 2017.The country’s farms ministry says increased hectarage is part of efforts by the National Agriculture Export Development Board to boost tea production.