ZIMBABWE’S official inflation is misleading and does not reflect the price increases of good and services consumers are witnessing, a leading equities firm has said.Advertisements The country’s annual inflation is currently pegged at 5,39, according to Zimstats, but various analysts said it has breached the double-digit figures due to rampant price increases in the last…
The oldest victim of the shooting inside a synagogue in Pittsburgh was 97, authorities have confirmed. Two brothers and a married couple were also among the dead.Advertisements The 11 victims have been identified and named by the city’s chief medical officer, and their families have been informed. The victims have been named as: Joyce Fienberg,…
ZIMBABWE Stock Exchange (ZSE) heavyweights Econet Wireless Zimbabwe (Econet) and Delta Corporation (Delta) put on a combined $4,2 billion in market capitalisation over the past two weeks after the market’s recalibration which saw it gaining $6,3 billion. Over the two weeks starting October 8, the local bourse drastically re-adjusted to the developments in the informal…
AN UNSTABLE and unconventional business environment in Zimbabwe has created ethical dilemmas for local accountants, an Association of Chartered Certified Accountants (ACCA) breakfast meeting heard last week. This comes as a persistent economic crisis has forced unorthodox systems of commerce on the southern African nation. The country adopted a multi-currency system in 2009 after hyperinflation…
ZIMBABWE has witnessed a spate of unprecedented price increases for most goods and services after parallel market rates soared and business reacted to the introduction of a two percent tax on money transfers by Finance Minister Mthuli Ncube. A majority of retailers defend the increases, saying they are doing so to cushion their businesses against…
ZIMBABWE’S annual broad money supply grew 47,5 percent to $9,68 billion in July, from $6,56 billion during the same period in the prior year, according to the Reserve Bank of Zimbabwe (RBZ). In its monthly economic highlights for July released last week, the RBZ said growth in money supply reflected yearly increases in demand deposits…
ZIMBABWE’S total merchandise trade declined 10 percent from $999,3 million in June 2018 to $900,3 million in July due to a decrease in month-on-month stock of both exports and imports, latest data has shown. Advertisements According to the Reserve Bank of Zimbabwe’s (RBZ) monthly economic review for July, merchant exports amounted to $340,3 million in…
ZIMBABWE’S cost of living increased marginally in September due to rising inflation, the consumer watchdog has said.Advertisements This comes at a time when Cabinet has approved principles of the Consumer Protection Bill, which criminalises retailers and manufacturers who increase prices of goods and services without justification. The Consumer Council of Zimbabwe (CCZ) yesterday…
Advertisements ZIMBABWE’S tax system is characterised by low compliance levels as registered corporate taxpayers are not remitting their dues, a tax expert has said. Speaking at The Financial Gazette tax review conference last week, Christina Muzerengi, a tax partner with Grant Thornton, said the three tier pricing system in the country was making it difficult…
TREASURY should add exemptions to the intermediated money transfer tax, which it announced last week, an expert has said. Last week, Finance minister Mthuli Ncube announced exemptions to the tax which came into effect on Saturday. Transfer of funds for salaries, the purchase and sale of equities as well as foreign currency related payments are…
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