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Govt, industry in prices deadlock
GOVERNMENT and business yesterday reached an impasse over arbitrary price hikes after a lengthy meeting between Industry and Commerce minister Mangaliso Ndlovu and captains of industry in the capital....Published: 20 Nov 2018 at 06:06hrs | 851 | by Staff reporter
Mnangagwa govt told to dollarise now
Daily News writer Pauline Hurungudo interviews Steve Hanke, a professor of applied economics at The Johns Hopkins University and senior fellow at the Cato Institute.Over four decades, Hanke ha...Published: 19 Nov 2018 at 15:57hrs | 6842 | 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 | 1615 | by Staff reporter
Mnangagwa proposes more tough austerity measures
President Emmerson Mnangagwa has said there is no going back on his unpopular new tax on electronic transactions and promised expenditure cuts across government departments.The country introdu...Published: 15 Nov 2018 at 12:54hrs | 1584 | by Staff reporter
Zimbabwe economic pain not being shared
Finance minister Mthuli Ncube's recent confirmation that government will soon buy vehicles for parliamentarians exposes government's insincerity in tackling its ballooning budget deficit.It al...Published: 12 Nov 2018 at 10:51hrs | 3550 | by Staff reporter
'Mthuli Ncube's 2c tax unsustainable'
Industry says the controversial Intermediary Money Transfer Tax should be amended in the upcoming 2019 National Budget to improve the ease of doing business in the country.The Confederation of...Published: 12 Nov 2018 at 10:14hrs | 2676 | by Staff reporter
Money is the root of all evil
We all use money every day and yet few of us really understand what these bits of paper or cotton or simply figures in a ledger really mean. But we know the stuff is important.In economic term...Published: 12 Nov 2018 at 05:38hrs | 991 | by Eddie Cross
Let's make the smart phone disposable
Smartphones continue to be targeted by robbers, pickpockets and thieves. Many people have been victims of robberies where smartphones are the prized target. The advent of mobile money transfer...Published: 10 Nov 2018 at 17:00hrs | 1982 | by Tondo Murisa
Mnangagwa coming after cartels
PRESIDENT Emmerson Mnangagwa yesterday vowed to clamp down on cartels involved in various corrupt activities such as fraud, money-laundering, insider trading and manipulation of government procurement...Published: 09 Nov 2018 at 05:16hrs | 6848 | by Staff reporter
'2% tax paying dividends,' says Mnangagwa
The 2 cents intermediary money transfer tax introduced by Government recently is helping Government to narrow its budget deficit significantly, President Mnangagwa has said. Responding to ques...Published: 08 Nov 2018 at 17:09hrs | 4078 | by Staff reporter
2% money transfer tax simplified
Intermediated Money Transfer Tax is a tax collected in terms of Section 36G as read with the Thirtieth Schedule of the Income Tax Act [Chapter 23:06]. This tax has been in place since 2003 and an amen...Published: 08 Nov 2018 at 10:30hrs | 5043 | by Staff reporter
Mnangagwa to review Mthuli Ncube's 2% tax again
President Emmerson Mnangagwa says he will soon revise again under-fire Finance minister Mthuli Ncube's controversial two cents per dollar transaction tax - which caused widespread panic in the country...Published: 05 Nov 2018 at 13:40hrs | 4379 | by Staff reporter
Mthuli Ncube's 2% tax ill-thought out, says govt
GOVERNMENT has admitted to not seeing the adverse market effects of its 2% tax on electronic or mobile money transfer transactions, amid revelations that corporate earnings are expected to be weighed ...Published: 04 Nov 2018 at 08:57hrs | 1166 | by Staff reporter
Mnangagwa reviews Mthuli Ncube's 2% tax
Government will review the two percent transactional tax on electronic money transfers to make it sensitive to the needs of both business and consumers, President Emmerson Mnangagwa has said.T...Published: 04 Nov 2018 at 08:35hrs | 747 | by Staff reporter
'Mthuli Ncube tax to stabilise macro-economy'
Finance minister Mthuli Ncube said on Wednesday the new tax on electronic payments was a painful but necessary measure and urged Zimbabweans to be prepared to go through temporarily turbulent times af...Published: 02 Nov 2018 at 12:27hrs | 2170 | by Staff reporter
Strive Masiyiwa's loyalty is to business
PRESIDENT Emmerson Mnangagwa is "sincere in what he's doing", economic recovery will be tough and Western sanctions must be lifted, says Econet Wireless founder Strive Masiyiwa.Masiyiwa was pa...Published: 01 Nov 2018 at 05:53hrs | 1284 | by newZWire
'RBZ must be as clean as possible'
The Reserve Bank of Zimbabwe has been under scrutiny following the suspension of four directors - Messrs Mirirai Chiremba (financial intelligence), Norman Mataruka (bank supervision), Gresham Muradzik...Published: 28 Oct 2018 at 09:09hrs | 2178 | by Staff reporter
Zimbabwe's economic woes self-inflicted
THE Zimbabwean economy is bedeviled with self-inflicted woes.However, the economic tribulations largely emanate from government portfolios and their episodic fiscal blunders.The fiscal...Published: 26 Oct 2018 at 08:43hrs | 797 | by Paddington Masamha
2% tax court challenge revived
COMBINED Harare Residents' Association (CHRA) director Mr Mfundo Mlilo has filed a normal court application contesting the recently announced 2 percent tax on electronic money transfers, following the...Published: 24 Oct 2018 at 06:40hrs | 625 | by Staff reporter
Mthuli Ncube's 2% tax still illegal
At the beginning of this month the Minister of Finance and Economic Development announced an increase in the Intermediated Money Transfer Tax [i.e. the tax on electronic money transfers] from five cen...Published: 23 Oct 2018 at 20:15hrs | 1422 | by Veritas
Vuka Byo Vuka successfully brings UK community together for a memorable occasion
Community initiative, Vuka Bulawayo Vuka, held in Manchester over the weekend, wasn't your ordinary or typical community event. There was nothing superfluous about it, it in fact, embraced what commun...Published: 23 Oct 2018 at 07:14hrs | 957 | by Tidi Kwidini
Zimbabwe's upper middle-income economy agenda 2030: Are we not inviting trouble?
THE government's neoliberal agenda and its target for the upper middle-income economy (UMIE) by 2030, if not handled well, might present us with many challenges that will further alienate and suffocat...Published: 23 Oct 2018 at 06:38hrs | 583 | by Michael Ndiweni
Bid to block Mthuli Ncube's 2% tax hits brick wall
Combined Harare Residents' Association director Mfundo Mlilo's attempt to block recently imposed 2 cents tax on electronic money transfers yesterday hit a snag after the High Court yesterday threw out...Published: 23 Oct 2018 at 06:11hrs | 199 | by Staff reporter
Mthuli Ncube's 2% tax court challenge dismissed
A High Court judge has dismissed an application by Mfundo Mlilo a human rights activist challenging the legality of the 2 percent tax on money transfers which was recently imposed by Finance and Econo...Published: 22 Oct 2018 at 15:53hrs | 3294 | by Staff reporter
Mthuli Ncube sued
PRO-DEMOCRACY activist Mfundo Mlilo has hauled Finance minister Mthuli Ncube to the High court seeking an order to suspend the imposition of the 2% electronic transactions tax.Ncube introduced...Published: 20 Oct 2018 at 08:27hrs | 2205 | by Staff reporter
Mthuli Ncube working on measures to curb illegal forex deals
Government is working on a raft of measures to curb illegal and speculative foreign currency dealings that have resulted in prices sky-rocketing, Finance and Economic Development Minister Professor Mt...Published: 20 Oct 2018 at 08:09hrs | 629 | by Staff reporter
'Mangudya deserves our support'
Zimbabweans must support the country's recently announced monetary policy measures because they are "meant to preserve people's savings at banks", a youth empowerment activist has said.This al...Published: 19 Oct 2018 at 12:11hrs | 2476 | by Staff reporter
It's Mthuli Ncube's electronic transfer tax, stupid
Sometimes one can be an excellent macroeconomist and a very bad public finance expert at the same time. I think this is the case with new Finance minister Mthuli Ncube.One such bad idea is the...Published: 18 Oct 2018 at 07:01hrs | 2648 | by Tendai Kamba
Mthuli Ncube's desperate bid facing a sharp court challenge
Finance minister Mthuli Ncube's desperate bid to balance the government's shambolic books by raising the State's revenue through an unpopular new tax is facing a sharp court challenge.This com...Published: 16 Oct 2018 at 14:27hrs | 2851 | by Staff reporter
Tax war spills into court
Government's decision to charge a draconian two percent tax on electronic transactions is likely to face its first legal challenge today.The Daily News can report that a Harare man, Mfundo Mli...Published: 15 Oct 2018 at 12:33hrs | 2045 | by Staff reporter
'Inconsistent policies draining Zimbabwe business confidence'
Renowned American economist, Steve Hanke says Zimbabwe's new fiscal and monetary measures have left the market in a state of confusion, and opined that the country's annual inflation rate had topped 2...Published: 15 Oct 2018 at 06:30hrs | 672 | by Staff reporter
Zimbabwe inflation hits 155%
Government has triggered a storm after forging ahead to effect a draconian two percent tax on electronic transactions through a process legal experts say is unlawful.This comes as financial in...Published: 14 Oct 2018 at 13:07hrs | 7701 | by Staff reporter
Zimbabwe empty shelves scare
Austin Mushanguri shakes his head in dejection and walks away from the fridges in an affluent supermarket in the capital after reading a sign saying he can only buy one bottle of beer instead of the d...Published: 14 Oct 2018 at 10:09hrs | 4554 | by Staff reporter
Bond notes disaster: Zimbabweans count costs after a week of madness
Mary Muchenje bolted out of a pharmacy in Harare's Avenues area, only to stop a few metres away scratching her head.Muchenje's world had just crumbled after the pharmacists informed her she ne...Published: 14 Oct 2018 at 09:59hrs | 4330 | by Staff reporter
This is not what Mnangagwa promised
In the run-up to the July 30 elections, President Emmerson Mnangagwa was saying all the things Zimbabweans wanted to hear.He particularly promised in colourful outdoor billboards and media adv...Published: 14 Oct 2018 at 09:56hrs | 843 | by Editorial - The Standard
2% tax headache for Mnangagwa
President Emmerson Mnangagwa's government violated the law by gazetting a legal instrument that put into force the 2 cents tax on electronic transactions as part of a cocktail of austerity measures, f...Published: 14 Oct 2018 at 09:55hrs | 2312 | by Staff reporter
Forex shortages hit Western Union
MONEY transfer firm Western Union says Zimbabwe's ongoing foreign currency shortages are presenting some "unique challenges" amid growing reports that outlets in the country are disbursing only part o...Published: 14 Oct 2018 at 09:50hrs | 1674 | by Staff reporter
Mthuli Ncube says Zimbabwe economy will stabilise, price shocks are transitory
Finance and Economic Development Minister Professor Mthuli Ncube has said the price shocks that were recently experienced by the market are temporary as the economy adjusts to the new policies, which ...Published: 14 Oct 2018 at 08:12hrs | 5231 | by Staff Reporter
Mthuli Ncube's anti-Zimbabweans 2% tax comes into effect today
The Intermediated Money Transfer Tax, now commonly known as 2 cents tax, announced by Government last week comes into effect today after it was gazetted yesterday. This tax was gazetted in Sta...Published: 13 Oct 2018 at 07:05hrs | 1058 | by Staff reporter
Cash black market to remain firm
Zimbabwe's runaway cash black market is anticipated to remain firm in the wake of a deepening foreign exchange scarcity that saw the United States dollar premium surging to 400 percent as at midday ye...Published: 11 Oct 2018 at 12:38hrs | 3107 | by Staff reporter
Cash black market to remain firm
Zimbabwe's runaway cash black market is anticipated to remain firm in the wake of a deepening foreign exchange scarcity that saw the United States dollar premium surging to 400 percent as at midday ye...Published: 11 Oct 2018 at 12:37hrs | 1558 | by Staff reporter
Zimbabwe: We rise and fall together
The prophets of 'scorched earth politics are at it again. Suddenly, according to their reading Zimbabwe is back to year 2008. What utter nonsense! The scenarios could never be more different. If we ar...Published: 10 Oct 2018 at 18:23hrs | 2414 | by Lloyd Msipa
ZCTU demo banned
The Zimbabwe Congress Trade Union (ZCTU) is headed for a clash with police after banning the labour body's planned demonstrations against the 2% tax, tomorrow, saying it could lead to a fresh cholera ...Published: 10 Oct 2018 at 07:00hrs | 1284 | by Staff reporter
Express Links International announced as headline sponsor for Vuka Bulawayo Vuka
Money remittance company, Express Links International Limited, is the lead sponsor for UK based Bulawayo community initiative, Vuka Bulawayo Vuka, taking place in Manchester this month.Special...Published: 09 Oct 2018 at 10:27hrs | 1121 | by Tidi Kwidini
Mnangagwa, ministers clash over Mthuli Ncube tax
The recently announced tax regime has divided President Emmerson Mnangagwa's Cabinet right through the middle with a section of it pushing hard to have the austerity measures reversed to ease the suff...Published: 09 Oct 2018 at 07:33hrs | 4621 | by Staff reporter
Mnangagwa backs Mthuli Ncube on 2% tax
PRESIDENT Mnangagwa yesterday said the Intermediary Money Transfer Tax of 2 cents will remain in force as it is critical in transforming the economy, which has suffered from two decades of stagnation....Published: 09 Oct 2018 at 07:17hrs | 1055 | by Staff reporter
Consultations, procedures key to reform
EVERYONE recognises that Finance Minister Mthuli Ncube has the duty and obligation to stabilise the economy, for that is the wish of pretty much every one of Zimbabwe's citizens.It is no secre...Published: 09 Oct 2018 at 07:13hrs | 336 | by Staff reporter
No going back on 2% tax, says Mnangagwa
President Mnangagwa yesterday said the Intermediary Money Transfer Tax of 2 cents will remain in force as it is critical in transforming the economy, which has suffered from two decades of stagnation....Published: 09 Oct 2018 at 06:40hrs | 1127 | by Staff reporter
Mnangagwa must engage Chamisa to stem an economic 'Armageddon'
With the country's economy continuing to haemorrhage badly despite the government's best efforts, analysts and ordinary citizens are urging President Emmerson Mnangagwa to engage opposition leader Nel...Published: 08 Oct 2018 at 18:56hrs | 2431 | by Staff reporter
ZCTU sets Mthuli Ncube tax protests date
THE Zimbabwe Congress of Trade Unions (ZCTU) has called on its members to take to the streets on Thursday in a nationwide protest against Finance minister Mthuli Ncube's 2% tax, after rubbishing a rev...Published: 08 Oct 2018 at 07:59hrs | 3773 | by Staff reporter
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