Top items in major Zimbabwean media outlets

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HARARE, April 25 (Xinhua) -- The following are the news highlights in Zimbabwe's major media outlets on Wednesday.

-- Zimbabwe's Finance and Economic Development Minister Mthuli Ncube says the wave of price increases being experienced on the market and wild parallel market exchange rates have no economic justification as the government has successfully managed to stabilize fundamental fiscal elements that previously fuelled inflation.

Addressing industry and commerce executives during the International Business Conference in Bulawayo Tuesday, Ncube decried the level of indiscipline in the market, which he said thrives on speculative sentiments. (The Herald)

-- The Zimbabwean Civil Protection Unit (CPU) has issued a warning of a tropical storm that is developing into a cyclone named Kenneth, which is projected to make a landfall in Tanzania, Mozambique, Malawi and parts of Zimbabwe today.

In a statement, CPU director Nathan Nkomo said the cyclone had been sighted in the Comoros Islands facing Zimbabwe's direction. (The Herald)

-- Austerity measures introduced by the Zimbabwean government this year will be over by next year when the country starts experiencing economic growth, Finance and Economic Development Minister Mthuli Ncube has said.

In addition to the cost-cutting measures, Ncube introduced a 2% tax on intermediated financial transactions to shore up government coffers, leaving an already overtaxed citizenry hard pressed. (NewsDay)

-- Zimbabwean financial institution Steward Bank has partnered Chinese financial services firm, UnionPay International (UPI), to provide payment services for Zimbabweans travelling between the southern African country and Beijing. (NewsDay) Enditem

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