THE Insurance and Pensions Commission (Ipec) says it expects industry players to significantly contribute towards financing the agriculture value chain through prescribed assets this year. This comes as the government has granted prescribed asset status on agriculture projects worth $2,5 billion. Pension funds, funeral assurers and non life insurers are required by law to invest…
Manager Zinedine Zidane has resigned from Real Madrid for the second time in his coaching career. Real failed to win a trophy this season and were pipped to the La Liga title by city rivals Atletico Madrid on a dramatic final day on Saturday. Real said in a statement that they “must now respect” Zidane’s decision.…
Tottenham have made contact with former manager Mauricio Pochettino about a return to the club. The 49-year-old Argentine, who was sacked by Spurs in November 2019 after five years in charge, took over at Paris St-Germain in January. PSG failed to win the Ligue 1 title for only the second time in nine seasons and lost…
AFTER transforming agriculture finance in Zimbabwe, CBZ, the country’s largest bank, says it is planning to tap into the mining sector. The Financial Gazette’s News Editor Kuda Chideme (KC) sat…
DEMAND for equities pushed the Zimbabwe Stock Exchange (ZSE) to a record market capitalisation of $630 billion (US$7,5 billion) this month, raising concerns of overvaluation. After a slowdown in February, which saw monthly gains shrinking from 19 percent to 3,5 percent last month, the exchange’s benchmark All Share Index gained 20 percent during the first…
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya, says the apex bank is working with the Bankers Association of Zimbabwe (BAZ) on incentives to encourage corporates and individuals to bank US$. Zimbabweans, who suffered widespread losses during the hyperinflationary era, are largely reluctant to entrust large amounts of US dollars to the banks. “We will…
THE Infrastructure Development Bank of Zimbabwe (IDBZ)’s renewable energy projects, which have a total capacity of 67 megawatts (MW), are progressing and well on course, the bank has said. IDBZ is independently executing three projects — Gutu Solar (20 MW), Plumtree-based Tjibundule Energy (15 MW) and Gwayi Solar project (30 MW) — valued at US$93…
US business groups have teamed up to form a coalition opposing tax increase proposals by the Biden administration. The US government is proposing a global minimum corporation tax rate, as well as increasing the tax in the US to pay for infrastructure projects. Twenty eight industry groups have now created an alliance called “America’s Job…
Ferrari say the failure that led to Charles Leclerc’s retirement before the start of the Monaco Grand Prix was caused by his crash in qualifying. The team were not initially sure what led to the left-hand driveshaft hub failure that caused Leclerc to lose drive after he left the pits pre-race. But Monday’s investigation at their…
The US health secretary has urged the World Health Organization to ensure the next phase of investigation into Covid-19’s origins is “transparent”. Speaking to a ministerial-level WHO meeting, Xavier Becerra said international experts should be allowed to evaluate the source of coronavirus. US media reports suggest growing evidence the virus could have emerged from a…
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