adminCyprus 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.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
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.
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
CZI 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
Tyson follows Luis Suarez
LONDON. — Luis Suarez has a new brother in arms in former heavyweight boxing champion Mike Tyson. Tyson, who famously bit the ear of Evander Holyfield during a 1997 world heavyweight title fight, began following Suarez on Twitter after the Liverpool striker sunk his teeth into the arm of Chelsea’s Branislav Ivanovic during an English Premier LeagueMasvingo appealing for food aid
Tawanda Mangoma Masvingo BureauChiefs and village heads in Masvingo have made a plea to Government to urgently find ways of providing food relief to thousands of villagers who are on the verge of starvation owing to serious food shortages.
205 drivers facing culpable homicide
Crime ReporterAt least 205 drivers countrywide are facing culpable homicide charges after they were involved in accidents which resulted in the deaths of several people this year.
EasiHold senior managers accused of fraud
Michael Chideme Municipal Reporter
Harare City Council has reported EasiHold of South Africa’s senior