Search Results for: Zimbabwean
10 results out of 30 results found for 'Zimbabwean'.
CHINA TOBACCO LEAF IMPORT SECTOR GROWS, AS MANUFACTURED PRODUCT INDUSTRY EXPANDS VALUE SALES
The secretiveness with which China guards its tobacco news and figures – even of tobacco leaf production – says much about the state’s priorities under President Xi Jinping. This strongman leader who has of late prioritised security/repression over economic growth, has blocked the site of the China National Tobacco Corporation (CNTC), the national tobacco monopoly, to users outside China.…
INFLATION AND RECESSION WORSENS ML
While forecasts of a global recession are far from conclusive, the World Bank has in its latest international economy assessment released in September (2022) warned that such a downturn is a real possibility for 2023. (1) The reason is potential government spending tightening to deal with inflation rates not witnessed since the 1990s or earlier: “To stem risks from persistently high inflation, and in a context of limited fiscal space, many countries are withdrawing monetary and fiscal support,” noted the bank.…
ZIMBABWE OFF FATF’S GREY LIST – BUT SCEPTICS SAY ITS AML RECORD IS WOEFUL
Zimbabwe was taken off FATF’s grey list in March, but serious issues still abound claim critics of the move – from corruption to large scale gold smuggling, while a controversial law on NGOs may be misused to go after political opponents, they argue.…
INTERNATIONAL REGULATORY ROUND UP – TRANS-ATLANTIC KNITWEAR TRADES BENEFIT FROM END OF AIRBUS DISPUTE
A trade war over airplane manufacturing subsidies between the USA and UK, which has led to 25% additional duties being levied on British knitwear exports to America, appears to have been resolved. The EU and the USA have suspended for five years retaliatory duties that both sides have imposed on each other’s exports in the long-running ‘Airbus’ subsidy dispute.…
INTERNATIONAL TECHNICAL ROUND UP – EU PASSES VAT FRAUD REFORMS
*EU member states have been given temporary permission to use so-called reverse charge mechanisms to collect VAT, involving shifting liability to pay from suppliers to customers, to fight fraud. The EU Council of Ministers has approved a directive allowing governments to reverse charge VAT on domestic supplies of goods and services above EUR17,500 per transaction until June 2022, when a country is losing 25% or more of VAT to carousel fraud.…
ZIMBABWE TAKES STEPS TOWARDS FIGHTING COMMERCIAL CRIME – BUT HOW MUCH ACTION IS MERE POLITICAL SCORE SETTLING?
THE POLITICAL career of Zimbabwe’s longtime President Robert Mugabe may have been consigned to history last November (2017), when he was forced from power, but the patronage system and corruption of his 38-year rule in Zimbabwe continues to be felt, both on the streets and in boardrooms.…
MUGABE’S DOWNFALL IS GOOD NEWS FOR BURGEONING TOBACCO SECTOR
For the first time since Zimbabwe gained independence from Britain in 1980, the African country’s tobacco selling season opened on March 21 this year with long time ruler Robert Mugabe no longer in power.
Former President Mugabe resigned last November (2017), faced with impeachment proceedings from Zimbabwe’s lawmakers, with the country’s generals and his own ZANU-PF party having turned against him.…
BRAZIL LOSES COMMANDING POSITION IN GLOBAL TOBACCO LEAF MARKETS OVER PAST 10 YEARS, WTO DATA SHOWS
THE IMPORTANCE of Brazil as the world’s top supplier of internationally-traded tobacco leaf and manufactured products has been waning for the past decade, with India, notably, improving its position. New statistical analysis released by the World Trade Organisation (WTO) shows that this market share fall for Brazil also represented a decline in volume sales, given the global trade in tobacco leaf and products has shrunk since 2013 – until 2016, the year for which the latest data is available.…
STRONG ZIMBABWE LEAF EXPORT LEVELS BUT UNLIKELY TO SOLVE COUNTRY’S ECONOMIC CRISIS ALONE
TOBACCO has been among Zimbabwe’s foreign exchange earners for decades, and the country remains Africa’s top producer of the golden leaf, despite the disruption that its agricultural sector faced in the early 2000s.
These days, the country’s cash-strapped government is supportive and is pinning its hopes on tobacco exports to spearhead an elusive economic recovery.…
AFRICA STARTS TO ADOPT PUBLIC ACCOUNTING STANDARDS – BUT THE JOB WILL NOT BE EASY
WITH the economies of sub-Saharan Africa emerging from past poverty, informality and occasional chaos, the regularisation of the region’s public sector accounts is increasingly viewed as an important way of ensuring growing tax revenues are spent wisely.
As a result, accounting experts have been encouraged by growing moves to adopt International Public Sector Accounting Standards (IPSAS).…