Business Maverick: Old Mutual to Move Zimbabwe Listing as Currency War Escalates

Old Mutual has agreed to move its listing to a new bourse in the country that will only deal in foreign currency, three people with direct knowledge of the matter said.

The deal came after talks on Monday between representatives of Old Mutual, the Treasury, the Securities and Exchange Commission of Zimbabwe and the ZSE, the people said, asking not to be identified because negotiations were private.a plunge in the local currency on the 175-year-old insurer’s share price.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

TIM HARFORD: We fall in love with the new but not everything old is obsoleteWhile British Airways is retiring the Boeing 747, old technologies remain relevant
Source: BDliveSA - 🏆 12. / 63 Read more »

Oil slips on rise in coronavirus cases and US-China standoffFall mirrors moves in broader financial markets in Asia amid concerns about escalating tensions
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Europe’s Economy to Outpace US, Upending Past RolesThe euro area economy is for once set for a sprightlier recovery from crisis than the U.S., thanks to starkly different responses to the coronavirus.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Bitcoin Jumps Above $10,000 for the First Time in Six WeeksThe largest cryptocurrency spiked into five digits around 6 a.m. New York time on Sunday --- rising as high as $10,169, according to pricing compiled by Bloomberg. The gains quickly fizzled, initially, then rallied again later, gaining 1.9% to $10,080 as of 9:25 p.m.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: IMF Grants $4.3 Billion to South Africa in Biggest Virus LoanThe International Monetary Fund approved $4.3 billion in emergency funding for South Africa, the largest emergency disbursement for any country yet to assist with fighting the coronavirus pandemic.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: The Message Behind Gold’s Rally: The World Economy Is in TroubleIt’s easy to forget now but there was a time early on in the pandemic when the price of gold was in freefall.
Source: dailymaverick - 🏆 3. / 84 Read more »