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Businesses trading in US dollars to pay tax in that currency, says Zimra
In a subtle admission that Zimbabwe is using 3 currencies the USD, Bond and RTGS, Zimbabwe Revenue Authority (ZIMRA) is advising the public that businesses selling goods in USD should pay taxes in USD...Published: 14 hrs ago | 3020 | by Ndou Paul
Mthuli Ncube hints on confidence measures
The Minister of Finance and Economic Development, Professor Mthuli Ncube has hinted on confidence rebuilding measures in his 2019 national budget to be presented on Thursday this week.The nati...Published: 15 hrs ago | 3015 | by Staff reporter
Chamisa plans massive demo 'to topple Mnangagwa'
A titanic clash is looming between increasingly twitchy authorities and the MDC, over the main opposition's plans to mount a massive demonstration to protest the country's falling standards of living ...Published: 15 hrs ago | 5573 | by Staff reporter
Schools demand top up fees
SOME boarding schools in Bulawayo, Matabeleland North and South provinces have written to parents demanding that they pay school fees top ups for the remaining three weeks of the term to cater for foo...Published: 19 hrs ago | 735 | by Staff reporter
The bad habits Mnangagwa won't stop
One of the reasons Zimbabweans were eager to see long-time ruler Robert Mugabe's back was because his regime stifled freedom of expression and those that dared criticise him publicly paid dearly. ...Published: 19 hrs ago | 1631 | by Staff reporter
Khaya Moyo defends Zanu-PF spending spree
A year after Zanu-PF's succession war was settled with the help of the military, the ruling party says it is happy with the direction in which President Emmerson Mnangagwa is steering the country....Published: 19 hrs ago | 312 | by Staff reporter
Zimbabwe must adopt the rand, says Fitch Solutions
ZIMBABWE must adopt the South African Rand to deal with the worsening currency crisis caused by the shortage of United States dollars, an international research firm has said. United Kingdom-b...Published: 19 hrs ago | 918 | by Staff reporter
Currency options for crisis-ridden Zimbabwe
Zimbabwe needs to introduce a hybrid foreign currency management system or create a long maturity US$ Brady type bond to preserve savings amid the currency chaos, renowned economist Ashok Chakravarti ...Published: 19 hrs ago | 530 | by Staff reporter
Diamonds output increases
THE Zimbabwe Consolidated Diamond Company has recorded a 54 percent jump in after Government extended US$80 million to recapitalise the company.ZCDC was created by Government under Special Gra...Published: 19 hrs ago | 108 | by Staff reporter
Govt acts on drug shortages
The Health and Child Care Ministry is using its foreign currency allocation from the Reserve Bank of Zimbabwe to purchase raw materials to help CAPS Holdings and Datlabs manufacture medicines locally,...Published: 19 hrs ago | 137 | by Staff reporter
'Arbitrary arrests, detention rise'
The month of October witnessed an increase in cases of arbitrary arrests and detention, the Human Rights NGO Forum has said in its Organised Violence and Torture Report for October.This follow...Published: 17 Nov 2018 at 15:48hrs | 1436 | by Staff reporter
Mnangagwa has problems, Chamisa has answers
MDC leader Nelson Chamisa says the economic and political paralysis in Zimbabwe can be resolved through dialogue between his party and Zanu-PF.Zimbabwe has been on edge since President Emmerso...Published: 17 Nov 2018 at 12:20hrs | 1385 | by zimlive
Packaging manufacturers backtrack on decision to sell in forex: Millers
MILLERS have said manufacturers of packaging materials have agreed to reverse their decision to sell their products in foreign currency while also revising downwards prices payable in RTGS.Gra...Published: 17 Nov 2018 at 06:49hrs | 584 | by Staff reporter
KFC is back in Zimbabwe, but its damn expensive
Fast food outlet Kentucky Fried Chicken (KFC) Africa which closed all its restaurants in the country a month ago, has re-opened the restaurants. In a statement, KFC Africa - the franchise in Z...Published: 17 Nov 2018 at 06:34hrs | 1219 | by Staff reporter
Mnangagwa's anti-graft fight unconvincing
FOR splurging £16 million (US$21 million) on pricey jewellery and vintage wines over a decade, a British woman became the first target of a law seeking to dissuade criminals from enjoying their ill-g...Published: 16 Nov 2018 at 12:46hrs | 1767 | by Staff reporter
'Mnangagwa crackdown on money changers futile'
The crackdown on black market currency trading to curb a parallel market blamed for the spike in prices is not enough to address the problem, economists said yesterday.This comes as there has ...Published: 16 Nov 2018 at 12:31hrs | 6423 | by Staff reporter
US dollar taxes loom
Businesses charging goods and services in foreign currency should start paying taxes, particularly value added tax (VAT) in hard currency, according to Zimbabwe Revenue Authority (Zimra) Commissioner ...Published: 16 Nov 2018 at 07:03hrs | 8634 | by Staff reporter
Bulawayo gets 'insulting' $1m from Zinara
THE Zimbabwe National Road Administration (Zinara) last month disbursed slightly over $1 million for the rehabilitation of Bulawayo's roads, but city authorities said the money was not enough to finan...Published: 16 Nov 2018 at 06:04hrs | 1280 | by Staff reporter
'Prosecutor Reza unfit for Biti trial'
A HARARE court yesterday declared State prosecutor Michael Reza unfit to preside over MDC Alliance vice-chairperson Tendai Biti's trial saying he overstepped his mandate as an impartial judicial offic...Published: 16 Nov 2018 at 05:55hrs | 1321 | by Staff reporter
Bulawayo City Council wants to charge in forex
THE Bulawayo City Council has formulated a policy designed to raise foreign currency through giving a 50 percent discount to individuals who pay bills in United States dollars after service providers ...Published: 16 Nov 2018 at 05:35hrs | 1701 | by Staff reporter
Mnangagwa takes a swipe at 'Chamisa'?
President Emmerson Mnangagwa has censured retrogressive, unpatriotic, selfish individuals who are bent on abusing democracy and not adhering to the dictates of the constitution.President Mnang...Published: 15 Nov 2018 at 14:52hrs | 15566 | by Staff reporter
Zimbabweans demand more after Mugabe coup
As the country marks exactly a year since the military rose up against former president Robert Mugabe by way of a popular coup, long-suffering Zimbabweans say they want President Emmerson Mnangagwa an...Published: 15 Nov 2018 at 13:04hrs | 1599 | by Staff reporter
Illicit trade in foreign currency must cease
Recent action by government in which it imposed 10-year custodial sentences on illegal foreign currency dealers was overdue although more should be done to exterminate the practice completely....Published: 15 Nov 2018 at 12:55hrs | 1299 | by Staff reporter
MDC's full statement on August 1 killings and the economy
1) Introduction The Movement for Democratic Change has been following political and economic events in the country. Among other ills, we note with concern the unpalatable suffering of the mass...Published: 15 Nov 2018 at 12:52hrs | 2100 | by MDC
A year after Mugabe, hopes for a new Zimbabwe still low
A year since a trio of army generals held former Zimbabwean President Robert Mugabe under house arrest as part of a 10-day military operation that enabled his protege, Emmerson Mnangagwa, to take powe...Published: 15 Nov 2018 at 09:19hrs | 940 | by Aljazeera
Knives out for Mutsvangwa
WAR veterans in Mashonaland West have recommended the recall of Zimbabwe National Liberation War Veterans' Association leader Christopher Mutsvangwa, accusing him of being selfish and disrespectful to...Published: 15 Nov 2018 at 06:06hrs | 2135 | by Staff reporter
Mnangagwa to monitor companies allocated forex by RBZ
GOVERNMENT has proposed the establishment of a Foreign Currency Utilisation Monitoring Mechanism to monitor companies that receive foreign currency from the central bank.Addressing a Press bri...Published: 15 Nov 2018 at 06:00hrs | 2481 | by Staff reporter
Modi invited to India gold summit
THE Deputy Minister of Industry and Commerce, Raj Modi, has been invited by the Gem and Jewellery Export Promotion Council of India (GJPEC) to participate in the second edition of the India Gold and J...Published: 15 Nov 2018 at 05:49hrs | 595 | by Staff reporter
Money changers desert Bulawayo streets
ILLEGAL money changers in Bulawayo have devised new tricks to evade arrest following President Emmerson Mnangagwa's promulgation of new regulations that may see offenders being jailed for up to 10 yea...Published: 15 Nov 2018 at 05:37hrs | 2053 | by Staff reporter
Government calls rogue pharmacies to order
GOVERNMENT has directed pharmacies to stop demanding foreign currency from patients for drugs which are now available locally through NatPharm. In an interview at the close of the 67th East, C...Published: 15 Nov 2018 at 05:35hrs | 984 | by Staff reporter
A timeline of how Zimbabwe lost its currency
Today, November 14, marks the 21st anniversary of "Black Friday", the day the Zimbabwe dollar crashed in 1997.We track the Zimdollar's collapse from that fateful November day, and the many des...Published: 14 Nov 2018 at 15:10hrs | 2987 | by newZwire with The Source
Illegal forex traders desert their usual selling points
The hordes of illegal foreign currency traders who had made the streets of Harare their home are increasingly becoming a rare sight, as President Emmerson Mnangagwa's abatement measures take effect....Published: 14 Nov 2018 at 13:39hrs | 4039 | by Staff reporter
Zimbabweans to explain deposits of more than $10,000
President Emmerson Mnangagwa has promulgated Statutory Instrument 246 of 2018, Presidential Powers (Temporary Measures) Amendment of Money Laundering & Proceeds of Crime Act & Exchange Control...Published: 14 Nov 2018 at 12:54hrs | 12936 | by Ndou Paul
A 'Operation restore citizen-power' only path to Zimbabwe's prosperity
As Zimbabwe commemorates last year's military intervention that led to the removal of long-time president Robert Gabriel Mugabe, and replaced by his then recently expelled deputy Emmerson Dambudzo Mna...Published: 14 Nov 2018 at 08:56hrs | 986 | by Tendai Ruben Mbofana
Mnangagwa begins tracking 'ill-gotten wealth'
GOVERNMENT has promulgated Statutory Instrument 246 of 2018, which will see illegal currency traders being sentenced to up to 10 years in jail. The regulations - Presidential Powers (Temporary...Published: 14 Nov 2018 at 06:02hrs | 2577 | by Staff reporter
Spate of thefts from vehicles in Bulawayo CBD
POLICE in Bulawayo have recorded 20 cases of theft from vehicles within three days in the city's Central Business District with $10 000 being stolen in the process. The theft incidents are sai...Published: 14 Nov 2018 at 05:47hrs | 1124 | by Staff reporter
Foreign suppliers threaten TelOne services over $18m debt
STATE-OWNED telecoms operator, TelOne, has been threatened with service disruption by critical foreign suppliers, who include West Indian Ocean Cable Company (Wiocc) and China-EximBank, among others, ...Published: 14 Nov 2018 at 05:43hrs | 266 | by Staff reporter
Zinara bosses off the hook
THE National Prosecuting Authority (NPA)'s bid to revive corruption charges against five Zimbabwe National Roads Administration (Zinara) bosses yesterday hit a snag after the Supreme Court threw out t...Published: 14 Nov 2018 at 05:37hrs | 545 | by Staff reporter
Bulawayo residents welcome move on illegal forex dealers
Ordinary citizens in Bulawayo have commended President Emmerson Mnangagwa for invoking the Presidential Powers Temporary Measures Amendment of Money Laundering and Proceeds of Crime Act and the Exchan...Published: 13 Nov 2018 at 19:04hrs | 5696 | by Staff reporter
Anti-laundering, illicit dealings law takes effect
A clampdown on ill-gotten and unexplained wealth obtained by individuals involved in money laundering, crime and other illicit dealings has come into effect following the amendment of Statutory Instru...Published: 13 Nov 2018 at 19:04hrs | 2518 | by Staff reporter
Zimbabwe inflation hits the 20.8% mark, RBZ targets 7%
Zimbabwe's annual inflation rose sharply to a record 20.8 percent in October after it gained 15.46 percentage points from the September rate of 5.39 percent. The Consumer Price Index (CPI) for...Published: 13 Nov 2018 at 16:03hrs | 1522 | by Staff reporter
Rio Zim resumes operations
ZIMBABWE Stock Exchange-listed miner RioZim has resumed operations at three of its gold mines after reaching an agreement with Reserve Bank of Zimbabwe (RBZ) over foreign currency allocation. ...Published: 13 Nov 2018 at 12:37hrs | 966 | by Staff reporter
Industrial action against Mthuli Ncube looming
Air Zimbabwe has been allowed by the cabinet of President ED Mnangagwa to charge its clients (especially diasporas) in foreign currency. The confused minister in charge of Air Zimbabwe Joel Biggie Mat...Published: 13 Nov 2018 at 11:50hrs | 3411 | by Don Chigumba
Ncube needs consistency
Finance minister Mthuli Ncube will present his maiden National Budget next week Thursday against a background of huge economic challenges and public expectation that he is the man to help Zimbabwe out...Published: 13 Nov 2018 at 11:28hrs | 2182 | by Staff reporter
Mnangagwa tightens noose on cash barons
CASH barons who have been accused of fuelling parallel market currency rates and a raft of other economic ills will now face up to two years in prison if they fail to explain the source of their wealt...Published: 13 Nov 2018 at 06:15hrs | 4196 | by Staff reporter
Settling land compensation issue vital for Zimbabwe's economy
IN his inaugural address, the new President of Zimbabwe, Emmerson Mnangagwa, confirmed that land reform was both historically necessary and irreversible.He also made a commitment to compensate...Published: 13 Nov 2018 at 06:09hrs | 293 | by Ian Scoones
'Allow community to benefit from diamonds'
MANICALAND Provincial Affairs minister Ellen Gwaradzimba has alleged looting of diamonds by previous miners at Chiadzwa diamond fields and challenged the Zimbabwe Consolidated Diamond Company (ZCDC), ...Published: 13 Nov 2018 at 06:05hrs | 172 | by Staff reporter
Acie Lumumba turns ZACC informer?
Embattled Whistleblower William Mutumanje (Acie Lumumba) is reportedly working with the Zimbabwe Anti-Corruption Commission (ZACC) investigators in closing the net on suspected criminals a...Published: 13 Nov 2018 at 06:04hrs | 2046 | by Mandla Ndlovu
Plea to exempt cotton farmers from 2% tax
THE Cotton Company of Zimbabwe (Cottco) has proposed that cotton farmers be exempted from the 2% tax on electronic transactions as well as from the 10% withholding tax to help them build capacity....Published: 13 Nov 2018 at 06:01hrs | 151 | by staff reporter
2% tax derails industrial production
ZIMBABWE Congress of Trade Unions western region chairman Ambrose Sibindi has said since the announcement of the 2% tax by Finance minister Mthuli Ncube last month, many industries in Bulawayo have sc...Published: 13 Nov 2018 at 05:57hrs | 284 | by Staff reporter
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