Foreign investors in Zimbabwe will receive priority to repatriate all their profits and dividends despite a shortage of dollars that has forced the country to limit foreign payments and imports, a central bank official said on Thursday. Farai Masendu, RBZ deputy director in the exchange control department told an investment conference in Harare that foreign investors, including those on the stock and money markets, would be able to freely send their money abroad. "Where an investor has declared a dividend and you have a profit remittance that you want to make, in terms of our foreign payments, that receives priority," Masendu said.
The Philippines hopes for a "soft landing" in a dispute with China over the South China Sea when the arbitration court in The Hague delivers its ruling, the foreign minister said on Thursday, hours after Rodrigo Duterte was sworn in as president. China claims almost all the South China Sea, where about $5 trillion worth of trade passes every year. Brunei, Malaysia, the Philippines, Taiwan and Vietnam also claim the sea believed to have rich deposits of oil and gas.
NEW YORK (AP) — A two-day auction of the contents of Ronald and Nancy Reagan's ranch-style home in California will include everything from personal mementos from heads of state and friends to objects the couple took with them to the White House.