England captain Eoin Morgan says his side have been on a “rollercoaster” route to the World Cup semi-finals. Morgan’s men were on the verge of elimination after losses to Sri Lanka and Australia, but sealed a place in the last four by beating India and New Zealand. “We have played well, played terribly, then played good again,” said Morgan. “The group games…
THE Reserve Bank of Zimbabwe’s (RBZ) decision to hike interest rates overnight window to 50 percent per annum from 15 percent will discourage speculative borrowing, an investment research firm has said. “The increase in the overnight interest rates will likely make monetary assets more attractive relative to alternative asset classes in the short term. The…
ZIMBABWE risks facing acute basic commodities shortages in the coming few months due to cash shortages and low disposable incomes, an equities firm has said. Old Mutual Securities (OMSEC) said given foreign currency shortages, lower disposable incomes and high inflation, there were chances that merchandise supply bottlenecks may become more pronounced on the one end…
FOLLOWING Monday’s restoration of the Zimbabwe dollar — through statutory instrument (SI) 142 of 2019 — the “last leg” of Finance minister Mthuli Ncube’s currency reforms have brought with them quite a number of implications for both businesses and ordinary Zimbabweans. Like other previous and controversial policies such as command agriculture — which was blamed…
AFTER registering considerable gains on Monday, the Zimbabwe Stock Exchange (ZSE) dipped sharply on Tuesday and Wednesday as the market reacted to a return of the local currency. The ZSE benchmark All Share index gained four percent on Monday before losing 0,8 percent and 5,4 percent on Wednesday. This was after the government had gazetted…
AS BANKS face challenges in disbursing salaries after Paynet Zimbabwe (Paynet) suspended its services over a dispute involving US$470 000 in unpaid fees, our business reporter Omega Ukama (OU) interviewed Christian Beddies (CB), Payserv Zimbabwe’s chief executive, to get some insights into the situation. OU:Paynet has made the headlines quite a bit over the past…
AMALGAMATED Regional Trading (ART) says it performed above expectations in the year to March 31, 2019 after it achieved a 30 percent increase in exports, despite a depression in local demand for its products. The diversified conglomerate reported a profit after tax of RTGS$8,68 million, up from RTGS$3,69 million recorded in the previous comparable period,…
LISTED agro-industrial concern TSL says its financial performance since the start of the year has been satisfactory, despite numerous disruptions to the current agricultural season. The southern African region as a whole has had patchy rains, a development that has compromised agro firms. On one hand, Mozambique, Zimbabwe, and Malawi were hit by Cyclone Idai,…
RAINBOW Tourism Group (RTG) says its gross profit margin went up by six percent during the five months to May 2019 after it leveraged its foreign currency earnings to bring down costs. Gross profit margin represents the amount of revenue that a company retains after incurring the direct costs associated with producing the goods and…
ZIMBABWEAN actuaries have been challenged to come up with solutions to economic problems being experienced in the country. The country is facing its worst economic crisis in a decade, punctuated by fuel, electricity and foreign currency shortages, high unemployment rate, high trade and budget deficit and skyrocketing inflation among other things. Loreen Makwanya, the Actuarial…
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