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Now is the time to burn false equivalences
Now is the time to burn false equivalences

Ranga Mataire, Group Political Editor In a shameless show of puppetry, some opposition political activists and officials travelled to the United States during the 77th United Nations General Assembly (UNGA) to…

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Umzingwane women bemoan rising cases of alcohol and substance abuse
Umzingwane women bemoan rising cases of alcohol and substance abuse

From Sifelani Tsiko in Umzingwane Heavy drinking and substance abuse by artisinal miners is exposing women in Umzingwane Rural District to regular physical and verbal violence in public spaces. Women,…

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Venture capital firms help start-ups succeed
Venture capital firms help start-ups succeed

Dr Keen Mhlanga A venture capital company gathers contributions from Limited Partners (LPs) into a fund and then distributes those assets across several early-stage enterprises. The most difficult aspect of…

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‘Laughter helps us survive’
‘Laughter helps us survive’

Laughter is the best medicine, and a study reveals that it’s a way to cope with life, a form of survival. Although there have been theories based on what makes…

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Tourism sector on the rebound
Tourism sector on the rebound

Michael Tome Local players in the tourism and hospitality industry say they expect a much accelerated rebound of the sector to pre — Covid 19 pandemic levels as tourist arrivals…

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ZSE: The big market rally out of nowhere
ZSE: The big market rally out of nowhere

Nobody expected it. I certainly didn’t. At least not anytime soon. The big stock market rally came from nowhere! Just two weeks ago, those who had been buying the dip…

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ZSE equities rebound as big cap counters lead bulls charge
ZSE equities rebound as big cap counters lead bulls charge

Enacy Mapakame Business Reporter  Zimbabwe Stock Exchange (ZSE) equities rebounded during the week to Wednesday as bulls charged led by big cap counters with the primary indicator, the ZSE All…

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NTS restocks for busy season
NTS restocks for busy season

Business Reporter National Tyre Services (NTS) says it is working on a restocking programme ahead of the forthcoming busy summer cropping season, after the firm received a US dollar facility…

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New 3.0 CSL most expensive BMW ever?
New 3.0 CSL most expensive BMW ever?

Munich. — Rear-wheel drive. Manual transmission. More than 400kW. These are just some of the things you can expect from the new BMW 3.0 CSL, at least if the latest…

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German Chancellor Olaf Scholz set out a 200 billion euro (US$194 billion) “defensive shield”, including a gas price brake and a cut in sales tax for the fuel, to protect companies and households from the impact of soaring energy prices. Europe’s biggest economy is trying to cope with surging gas and electricity costs caused largely by a collapse in Russian gas supplies to Europe, which Moscow has blamed on Western sanctions following its invasion of Ukraine in February. “Prices have to come down, so the government will do everything it can. To this end, we are setting up a large defensive shield,” said Scholz. Under the plans, to run until spring 2024, the government will introduce an emergency price brake on gas, the details of which will be announced next month. It is scrapping a planned gas levy meant to help firms struggling with high spot market prices. A temporary electricity price brake will subsidise basic consumption for consumers and small and medium-sized companies. Sales tax on gas will fall to 7 percent from 19 percent. In its efforts to cut its dependence on Russian energy, Germany is also promoting the expansion of renewable energy and developing liquefied gas terminals. To help households and companies weather any winter supply disruption, especially in southern Germany, two nuclear plants previously due to close by the end of this year will be able to keep running until spring 2023. Industry groups welcomed the package. “This is important relief,” said Wolfgang Grosse Entrup, head of the VCI chemicals association. “Now we need details quickly, as firms increasingly have their backs to the wall.” The package will be financed with new borrowing this year, as Berlin makes use of the suspension of a constitutionally enshrined limit on new debt of 0,35 percent of gross domestic product. Finance Minister Christian Lindner has said he wants to comply with the limit again next year. Lindner, of the pro-business Free Democrats (FDP) who share power with Scholz’s Social Democrats and the Greens, said on Thursday the country’s public finances were stable. “We can put it no other way: we find ourselves in an energy war,” said Lindner. “We want to clearly separate crisis expenditure from our regular budget management, we want to send a very clear signal to the capital markets.” He also said the steps would act as a brake on inflation, which hit its highest level in more than a quarter of century in September. Opposition conservative Markus Soeder, premier of the southern state of Bavaria, said the steps gave the right signal. “It gives industry and citizens confidence that we can get through the winter,” he said. — Reuters
German Chancellor Olaf Scholz set out a 200 billion euro (US$194 billion) “defensive shield”, including a gas price brake and a cut in sales tax for the fuel, to protect companies and households from the impact of soaring energy prices. Europe’s biggest economy is trying to cope with surging gas and electricity costs caused largely by a collapse in Russian gas supplies to Europe, which Moscow has blamed on Western sanctions following its invasion of Ukraine in February. “Prices have to come down, so the government will do everything it can. To this end, we are setting up a large defensive shield,” said Scholz. Under the plans, to run until spring 2024, the government will introduce an emergency price brake on gas, the details of which will be announced next month. It is scrapping a planned gas levy meant to help firms struggling with high spot market prices. A temporary electricity price brake will subsidise basic consumption for consumers and small and medium-sized companies. Sales tax on gas will fall to 7 percent from 19 percent. In its efforts to cut its dependence on Russian energy, Germany is also promoting the expansion of renewable energy and developing liquefied gas terminals. To help households and companies weather any winter supply disruption, especially in southern Germany, two nuclear plants previously due to close by the end of this year will be able to keep running until spring 2023. Industry groups welcomed the package. “This is important relief,” said Wolfgang Grosse Entrup, head of the VCI chemicals association. “Now we need details quickly, as firms increasingly have their backs to the wall.” The package will be financed with new borrowing this year, as Berlin makes use of the suspension of a constitutionally enshrined limit on new debt of 0,35 percent of gross domestic product. Finance Minister Christian Lindner has said he wants to comply with the limit again next year. Lindner, of the pro-business Free Democrats (FDP) who share power with Scholz’s Social Democrats and the Greens, said on Thursday the country’s public finances were stable. “We can put it no other way: we find ourselves in an energy war,” said Lindner. “We want to clearly separate crisis expenditure from our regular budget management, we want to send a very clear signal to the capital markets.” He also said the steps would act as a brake on inflation, which hit its highest level in more than a quarter of century in September. Opposition conservative Markus Soeder, premier of the southern state of Bavaria, said the steps gave the right signal. “It gives industry and citizens confidence that we can get through the winter,” he said. — Reuters

German Chancellor Olaf Scholz set out a 200 billion euro (US$194 billion) “defensive shield”, including a gas price brake and a cut in sales tax for the fuel, to protect…

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