THE Zimbabwe Stock Exchange (ZSE) gained $90,72 billion in May as the benchmark All Share Index (ASI) put on 17 percent to close the month with year-to-date gains of 105 percent. Market capitalisation grew by 15 percent to $646 billion, and the ASI closed at 5 428,28 points. The spike came as a shock after…
THE Zimbabwe National Chamber of Commerce (ZNCC) says the Treasury should allocate more funds towards increasing efficiency of border systems in the 2021 midterm budget. In its submissions on the midterm statement, ZNCC acknowledged the $1,5 billion already set aside in the full year budget for upgrading facilities at ports of entry but stressed the…
THE mining industry says the decision to move collection of fees and commissions from the Minerals Marketing Corporation of Zimbabwe (MMCZ) to the Zimbabwe Revenue Authority (Zimra) will iron out operational creases that were affecting miners. Last week, the Reserve Bank of Zimbabwe (RBZ) announced that all mining taxes applicable at the point of receipt…
Tesla has allegedly repeatedly failed to pre-approve Elon Musk’s tweets, despite the rules of a court order. In 2018, the US Securities and Exchange Commission (SEC) accused Mr Musk of misleading investors, after he made claims about taking Tesla private. An agreement was made requiring Tesla’s lawyers to pre-approve certain tweets. But documents obtained by…
NATIONAL Tyre Services’ (NTS) shares have gained more than 3 600 percent on the Zimbabwe Stock Exchange (ZSE) this year, spurred by an upsurge in sales volumes. The automotive tyres distributor’s year-to-date returns are 3 500 percentage points ahead of the benchmark All Share Index, and second only to Unifreight Africa’s (Unifreight) gains of 6…
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…
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