NEW:  An individual needed $27K to survive in September: ZimStat

One person needed at least $27 298 to buy both food and non-food items in September, marginally up from $26 623 a month earlier, according to the Zimbabwe National Statistics Agency (ZimStat). 

NEW: OECD sees global growth slowing as inflation, monetary tightening bite 

THE Organisation for Economic Cooperation and Development (OECD) said on Monday that global economic growth is projected to remain subdued in the second half of 2022, before slowing further in 2023 to an annual growth of just 2,2 percent. 

NEW: US inflation rates seen at 4.25-4.5pc by year end

The U.S. Federal Reserve will need to raise interest rates by at least another percentage point this year, Chicago Fed President Charles Evans said on Tuesday, a more aggressive stance than he has previously embraced that underscores the central bank’s hardening resolve to quash too-high inflation.

NEW: Govt begins 2023 budget formulation 

Government has started the budget formulation process for the 2023 fiscal year. 

NEW: Acetylene plant now 80pc complete 

Verify Engineering, the Government-owned company that is presently producing medical oxygen at its plant in Mutare, is finalising another major plant to produce acetylene gas, which is used in welding and fabrication, among other critical industrial sectors. 

Investors eye lucrative Zim sectors

INVESTORS from the United States with interest in pharmaceuticals, construction, mining and agriculture are lining up for low-hanging fruit in Zimbabwe and are determined to be on the ground starting next month.

FIU targets last pockets of resistance . . . currency stability persists

THE Financial Intelligence Unit (FIU) has set its sights on eliminating last pockets of resistance against the prevailing exchange rate stability.

Africa has spoken; the West must listen

Last week, the world watched history unfold at the 77th Session of the United Nations General Assembly in New York, US, when Africa closed ranks and determinedly fought in Zimbabwe’s corner.

Zim satellite launch imminent

Zimbabwe’s first satellite — ZimSat-1 — will reach the International Space Station (ISS) next month before its launch into orbit in November, marking the country’s entry into space after a two-month delay caused by inclement weather.

New US$13bn deal boon for economy

THE proposed US$13 billion mining-to-energy industrial park project in Mashonaland West Province by two Chinese investors is expected to boost economic growth through mineral beneficiation and promotion of green energy.

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