Zimbabwe to re-introduce local currency within a year: minister

Zimbabwe to re-introduce local currency within a year: minister

Zimbabwe will re-introduce a local currency “in less than 12 months”, after using the US dollar and regional currencies since a hyperinflation crisis a decade ago, the finance minister said in an interview published yesterday. President Emmerson Mnangagwa, who took over from long-time ruler Robert Mugabe and won a disputed election in July, has pledged to revive the economy and mend fences with former allies in the west after years of international isolation.

“On the issue of raising enough foreign currency to introduce the new currency, we are on our way already, give us months not years,” state-owned Herald newspaper quoted Finance Minister Mtuli Ncube as saying. Asked for a timeline for the currency reform, the minister said it would be in “less than 12 months”. The southern African nation’s economy has been in a downturn for more than a decade with shortages of cash, high unemployment and the government struggling to pay its workers. The country was thrown into a panic after Ncube introduced a two per cent tax on all electronic transactions as part of new measures to increase revenue.




Jakarta opens mass rapid transit system

Jakarta opens mass rapid transit system

Indonesia’s capital inaugurated its first mass rapid transit system on Sunday, a $1.1 billion project seen as crucial to tackling some of the world’s worst traffic congestion. President Joko Widodo and other officials joine

MAX anti-stall software fix ready

MAX anti-stall software fix ready

A fix to the anti-stall system suspected in the crash of a Boeing 737 MAX 8 jet that killed 189 people in Indonesia is ready, industry sources said Saturday, as the company tries to avoid a lengthy grounding of its planes. Boeing was d

Sri Lanka opens work on $3.85bn refinery

Sri Lanka opens work on $3.85bn refinery

Sri Lanka began construction yesterday of a nearly $4 billion oil refinery it hopes will revive foreign interest in its shipping facilities after Beijing’s takeover of a nearby port spooked international investors. Prime Minister

Responding to the Need for Change

Responding to the Need for Change

When an organization faces challenges from direct-competitors, the marketplace or from transformations in the far environment such as new competition from disruptors, leaders have no choice but to manage through these challenges and lead change. But change always involves high levels of resistanc


SCW to further promote women entrepreneurship

SCW to further promote women entrepreneurship

Her Royal Highness Princess Sabeeka bint Ibrahim Al Khalifa, Wife of His Majesty the King and President of the Supreme Council for Women (SCW), has stressed the council’s keenness to go ahead with the women’s empowerment programmes, mainly in the economic field, to achieve family stab

New programme to employ 240 newly-graduated Bahraini docs

New programme to employ 240 newly-graduated Bahraini docs

Chairing the Cabinet session yesterday, His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa launched a programme to employ 240 newly-graduate Bahraini doctors. Under the scheme, which will be implemented over two years, beginning from 2019, the new graduates will be trained and

Roommate killer’s jail term reduced

Roommate killer’s jail term reduced

An Indian man who stabbed his roommate to death last June has got his 10-year jail sentence reduced by the High Criminal Court of Appeals. The 38-year-old defendant was sentenced by the criminal court to 10 years of imprisonment in January, after he was found guilty of killing his roommat

Dog torturer’s custody extended

Dog torturer’s custody extended

A man who was arrested for torturing a dog in Bani Jamrah village will remain in custody pending further investigation, it was announced yesterday. Northern Governorate Chief Prosecutor Mohammed Abdullah said yesterday that the case has been referred to the concerned court. This came a da

50 birds worth Dh20m killed by lightning bolt

50 birds worth Dh20m killed by lightning bolt

As many as 50 rare birds worth over Dh20 million were killed when a lightning bolt hit a farm in Al Dhafra area in Abu Dhabi, Al Bayan reported. According to the farm’s owner Khalfan bin Butti Al Qubaisi, the birds had won many trophies in competitions. They were priceless, he said.

Probe ordered

Probe ordered

The Cabinet yesterday chaired by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, has ordered a thorough probe into allegations of two girls selling drugs at a school in the Northern Governorate. The Premier ordered the formation of a high-level committee, under the

Jakarta opens mass rapid transit system

Jakarta opens mass rapid transit system

Indonesia’s capital inaugurated its first mass rapid transit system on Sunday, a $1.1 billion project seen as crucial to tackling some of the world’s worst traffic congestion. President Joko Widodo and other officials joine

MAX anti-stall software fix ready

MAX anti-stall software fix ready

A fix to the anti-stall system suspected in the crash of a Boeing 737 MAX 8 jet that killed 189 people in Indonesia is ready, industry sources said Saturday, as the company tries to avoid a lengthy grounding of its planes. Boeing was d

Sri Lanka opens work on $3.85bn refinery

Sri Lanka opens work on $3.85bn refinery

Sri Lanka began construction yesterday of a nearly $4 billion oil refinery it hopes will revive foreign interest in its shipping facilities after Beijing’s takeover of a nearby port spooked international investors. Prime Minister