US inflation increased by more than expected last month,as higher egg and energy prices helped to push up the cost of living for Americans. Inflation rose to 3% in January, its highest rate for six months, and above the 2.9% expected by economists. The rise comes weeks after the US central bank decided to hold interest…
THE jury is still out on the Reserve Bank of Zimbabwe’s (RBZ) monetary policy statement (MPS) of last week.Experts who spoke to The Financial Gazette — the country’s number one business publication and prime voice for industry and commerce — expressed mixed opinions yesterday on RBZ governor John Mushayavanhu’s latest policy interventions aimed at further…
THE Reserve Bank of Zimbabwe (RBZ)’s directive for companies to adopt ZiG as a functional reporting currency in a multi-currency regime has been met with cynicism, with some analysts warning of distortions in the interpretation of corporate performance.This comes as a majority of listed companies have been adopting the US$ as their reporting currency, alluding…
THE Reserve Bank of Zimbabwe (RBZ) says it injected about US$35 million into the interbank foreign exchange market last month to meet the growing demand for hard currency.The central bank has previously said its participation in the interbank market has helped to complement the supply of foreign currency by authorised dealers to meet demand by…
THE Reserve Bank of Zimbabwe (RBZ) says financial institutions are in the early stages of artificial intelligence (AI) governance, emphasising the need for robust strategies and policies to guide its use in financial services.Since its advent, AI has had a profound transformative impact, changing how enterprises, including those in the banking and finance sector, operate…
I HAVE written a lot in this column about the importance of embracing digital transformation in this age of acceleration. This term, “age of acceleration”, is used by Thomas Friedman to describe the rapid pace of change happening across various domains, such as technology, globalisation, and climate change, and how these forces are converging and…
ZIMBABWE’s mineral exports increased by 7,8 percent to US$5,9 billion in 2024 compared to US$5,4 billion in 2023, latest data shows.According to data from the Reserve Bank of Zimbabwe, gold exports recorded a remarkable increase of 37 percent to US$2,5 billion in 2024, from US$1,8 billion in 2023 largely driven by higher production volumes and…
IN the highly competitive world economy today, business restructuring is often undertaken by multinational enterprises (MNEs) to ensure that increased efficiency, streamlined operations, and responsiveness of the businesses to ever-changing market demands are achieved. While such changes are necessary for long-term business success, they raise some important transfer pricing considerations that companies must take up…
Unki Platinum Mine (Unki) posted a two percent decline in production output for the fourth quarter ended December 31, 2024 owing to a three-day national power outage, its parent company Anglo-American Platinum Limited (Amplats) has said.Zimbabwe experienced a one- day collapse to its power grid in December last year which resulted in a nationwide blackout.…
Rapper Sean “Diddy” Combs has filed a $100m (£80.5m) lawsuit against the makers of a recent documentary about him, as he continues to face allegations of sexual assault. The rapper…
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