The Reserve Bank of Zimbabwe (RBZ) has increased the Diaspora Remittance Incentive Scheme (DRIS) from 3 percent to 10 percent, in a bid to increase inflows.
Vice-Presidents Emmerson Mnangagwa and Phelekezela Mphoko yesterday refused to comment in Parliament about the remarks of the First Lady Grace Mugabe at the Zimbabwe African National Union-Patriotic Front rally at Chinhoyi at the weekend.
Local cutters want the government to scrap the tender system in allocating diamonds, saying some companies are left with no gems if they lose during the bidding.
In a typical misreading of President Robert Mugabe a Norwegian Foreign Affairs official with 15 years experience on Zimbabwe predicted that Mugabe would not stand for elections at the Zimbabwe African National Union-Patriotic Front congress of 2009 because he was seeking a graceful exit. Movement for Democratic Change leader Morgan Tsvangirai even bought into the ploy.
Zimbabwe’s central bank says it will print additional bond notes worth $300 million in an effort to ease biting cash shortages, stoking fears that the country could return to the era of money printing and hyperinflation.
Zimplats reported an 11 percent increase in revenue to $143.5 million in the quarter to June from $128.9 million in the same quarter last year, driven by a 6 percent increase in platinum group metals (4E) sales volumes.