By Davison Vandira Economists have commended the Reserve Bank of Zimbabwe (RBZ) for maintaining a tight grip on reserve money by mopping up excess liquidity in its endeavor to consolidate…
Category: Financials
Local currency marginally gains against US$
By ZBC Reporter THE stability of the local currency against the united states dollar continues according to this Tuesday’s Reserve bank of Zimbabwe foreign Currency Auction results with the local…
Japan runs out of credit card numbers amid online shopping boom
BY The Guardian TOKYO- Japan is running out of credit card numbers amid a surge in online shopping during the coronavirus pandemic. This comes after the country’s credit card companies…
UK economy contracts by 20% under Covid-19 lockdown
By FIN24 THE United Kingdom economy suffered worse than any other major European nation during the coronavirus lockdowns, posting a 20.4% contraction in the second quarter that will raise more…
Multinationals recognise the value of local currency in funding Africa
By ZBC Reporter MULTINATIONAL organisations, which have long relied on the dollar or euro-based funding when doing business in Africa, are increasingly adding local currency capital to their funding mixes…
Zim’s new higher denomination notes start circulating
By Xinhua HARARE: Zimbabwe’s new 10 dollar note started circulating on Tuesday as the country battles high inflation and cash shortages. The move is part of the Reserve Bank of…
Asian markets tumble as early stimulus rally fizzles
ASIAN markets plunged Wednesday, reversing an early rally fuelled by global stimulus pledges, including a more than $1 trillion package flagged by the United States. With borders being shut and…
Stock markets weighed down by virus fears
CORONAVIRUS fears weighed on global stock markets Thursday as investors took profits even after China reported a big drop in new cases and eased borrowing costs to cushion the epidemic’s…
Shanghai stocks plunge on virus fears; pound slides after Brexit
CHINESE equities plunged almost eight percent Monday as nervous traders returned from their extended Lunar New Year break, hit by fears that the deadly coronavirus could hammer the country’s economy.…
US$12 billion mining economy achievable, Minister Chitando
By ZBC Reporter THE Minister of Mines and Mining Development, Winston Chitando has reiterated that the US$12 billion mining economy will be achieved in the next three years owing to…