China project to bring 350 tourists into Zimbabwe every month

China project to bring 350 tourists into Zimbabwe every month 1

By Alois Vinga CHINA’s newly launched tourism project will see at least 350 tourists from the Asian economic giant fly into Zimbabwe every month to enjoy the country’s rich tourism system dominated by one of the world’s biggest natural wonders, the Victoria Falls. Briefing delegates on the development Tuesday, Tourism Minister Prisca Mupfumira said the “Tour Africa – New Horizon” project was being implemented under China’s Belt and Road Initiative, which seeks to combine new and old projects covering an expansive geographical scope. “It also includes efforts to strengthen hard…

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Facing populist assault, global elites regroup in Davos

Facing populist assault, global elites regroup in Davos 3

By Associated Press DAVOS, Switzerland: As the world’s financial and political elites convene here in the Swiss Alps for the World Economic Forum, their vision of ever-closer commercial and political ties is under attack — and the economic outlook is darkening. Britain’s political system has been thrown into chaos as the country negotiates a messy divorce from the European Union. Under President Donald Trump, the United States is imposing trade sanctions on friend and foe alike, and the government is paralyzed by a partial shutdown over immigration policy that forced…

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China’s 2018 economic growth sinks to 3-decade low

By Associated Press BEIJING: China’s 2018 economic growth fell to a three-decade low, adding to pressure on Beijing to settle a tariff war with Washington. The world’s second-largest economy expanded by 6.6 percent over a year earlier, down from 2017′s 6.9 percent, official data showed Monday. Growth in the three months ending in December dipped to 6.4 percent — the lowest quarterly level since the 2008 global crisis — from the previous quarter’s 6.5 percent. Communist leaders are trying to steer China to slower, more self-sustaining growth based on consumer…

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Trade war delaying Chinese automaker’s US plans

Trade war delaying Chinese automaker’s US plans 6

By Associated Press DETROIT: The U.S.-China trade war has delayed but not derailed Chinese automaker GAC Motor’s plans to enter the American market, company officials said Monday. Company President Yu Jun, speaking at Detroit’s North American International Auto Show, said the dispute is a factor in moving its U.S. product launch from the end of this year — as it announced at last year’s show — to June 2020. Still, analysts think they might have a longer road to the market. President Donald Trump imposed tariff increases of up to…

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Cement and beverage sales down by 50 percent

Cement and beverage sales down by 50 percent 8

12th January 2019 Business, Markets By Alois Vinga PLAYERS in the retail sector have reported that cement and beverages sales have gone down by 50 percent owing to the ongoing challenges linked to foreign currency shortages affecting the economy. Briefing delegates at a retailers breakfast meeting this week, N. Richards Group managing director, Archie Dongo revealed that the two products which are part of sales drivers in the sector are not performing as expected. “Cement and beverage sales have gone down almost 50 percent and such trends are diminishing the…

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Tanzania’s Magufuli orders central bank to create gold reserve

Tanzania’s Magufuli orders central bank to create gold reserve 9

By AFP Tanzanian President John Magufuli on Wednesday ordered the central bank to create a gold reserve, as he urged the government to better control mineral exports from the country, Africa’s fourth largest gold producer. “We should start buying gold, the central bank must invest in this. We must have our reserves in dollars but also our reserves in gold, because gold is money,” Magufuli said at a ceremony in Dar es Salaam. Magufuli is intent on regulating his country’s mining sector, which has faced allegations of fraud and underreporting…

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South Korea orders seizure of Japan assets over forced labor

South Korea orders seizure of Japan assets over forced labor 11

By Associated Press SEOUL: A South Korean court said Wednesday it has ordered the seizure of local assets of a Japanese company after it refused to compensate several wartime forced labourers, in an escalation of a diplomatic brawl between the Asian neighbours. Japan called the decision “extremely regrettable” and said it will push for talks with Seoul on the issue. In a landmark ruling in October, South Korea’s Supreme Court ordered Nippon Steel & Sumitomo Metal Corp. to pay 100 million won ($88,000) each to four plaintiffs forced to work…

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US negotiators in Beijing for trade war talks

US negotiators in Beijing for trade war talks 13

By AFP US negotiators on Monday headed into talks with Chinese counterparts as the two countries seek a deal to end a trade war that has raised fears of global economic turmoil. The visiting delegation, led by Deputy US Trade Representative Jeffrey Gerrish, left its hotel in Beijing without speaking to reporters. President Donald Trump raised hopes last week that an agreement could be found to end the months-long dispute, during which the world’s top two economies have imposed import duties on more than $300 billion of each other’s goods.…

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Brexit, tariffs, populism could buffet Europe in 2019

Brexit, tariffs, populism could buffet Europe in 2019 16

By Associated Press FRANKFURT: 2019 is set to be a year of major change for Europe, with big decisions that will affect the continent’s economy. Britain is due to leave the European Union but there is no clarity on how that will happen, or how painful it will be economically. The EU has long seen deepening ties among countries as the best way to create prosperity, but a rise in populist and nationalist politics is likely to further test that commitment. And threats loom from outside, including possible U.S. tariffs…

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Trump says ‘big progress’ made in talks with China

Trump says ‘big progress’ made in talks with China 18

30th December 2018 Business, Markets By Associated Press WASHINGTON: President Donald Trump says “big progress” is being made in talks between the U.S. and China to head off further escalation in a yearlong trade war. Trump says Saturday that he had a “long and very good call” with Chinese President Xi Jinping to discuss the talks, which stemmed from their sit-down early this month in Argentina. Trump tweets: “Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute.” The…

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