Oil hits high

LONDON – Oil prices hit a 3-1/2-year high on Tuesday, supported by tight supply and planned U.S. sanctions against Iran that are likely to restrict crude oil exports from one of the biggest producers in the Middle East. Brent crude oil LCOc1 reached $79.22 a barrel, up 99 cents and …

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Rationale for the benchmark interest rate

Dr Sanderson Abel An interest rate is the compensation for the service and risk of lending money. Broadly defined, it is the cost of borrowing money. Interest rates are normally set using the market forces of demand and supply. The equilibrium interest rates are determined by the demand and supply …

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Gold dips

LONDON. – Gold dipped on Tuesday, heading for a third straight day of losses as a rise in US borrowing costs supported the dollar and overshadowed the impact of strife in Gaza. Israeli troops shot dead dozens of Palestinian protesters on the Gaza border on Monday when the high-profile opening …

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Interest rates drop to maximum 12pc

Business Reporter THE Reserve Bank of Zimbabwe (RBZ) says it continues to engage banks over the cost of borrowing, as directed by Government, but contends that at current prevailing range of 6 and 12 percent; lending rates have dropped to levels comparable to the rest of the world. Central bank …

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Hwange Colliery boss suspended

Business Reporter HWANGE Colliery Company has suspended its managing director Thomas Makore to facilitate an investigation into allegations of insubordination, sources have revealed. But the company said the suspension had been necessitated by allegations of impropriety that have emerged following a dispute between “two company officials”. The Herald Business has …

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Zim must incentivise local content policy

INCENTIVES should be rolled out for financial institutions to lend to local investors to drive Zimbabwe’s local content policy, a new report has revealed. BY NDAMU SANDU IN ADDIS ABABA, ETHIOPIA Zimbabwe is working on a local content policy, which is expected to stimulate the use of local factors of …

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Golix traded $20 million, has 50 000 clients

ZIMBABWE’S cryptocurrency exchange, Golix, says it has traded more than $20 million to date and is looking forward to opening exchanges in more African countries as well as expanding the portfolio of services they offered. BY MTHANDAZO NYONI In a statement yesterday, Golix said it has been operational in Zimbabwe …

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$28m in benefits lie unclaimed: Ipec

THE Insurance and Pension Commission of Zimbabwe (Ipec) says pension funds have more than $28 million worth of unclaimed benefits, a symptom of lack of knowledge, which is one of the problems burdening the insurance sector. By Melody Chikono Speaking at the Zimbabwe Association of Pension Funds (ZAPF) annual congress …

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Empowering communities to evaluate their knowledge

eMKambo is increasingly meeting rural communities that have been schooled into valuing tangible assets like dams and tractors at the expense of intangible assets like knowledge on how to earn more value from those assets. By CHARLES DHEWA In agricultural communities where assets like irrigation schemes and roads have been …

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April inflation up by 0,03%

The inflation rate increased slightly by 0,03 percentage points to 2,71% in April, the Zimbabwe National Statistic Agency (Zimstat) has said, although sceptics think inflation could be higher, as the price of fuel has been on a steady rise in the past few months. BY FIDELITY MHLANGA In March 2018, …

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