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Zimbabwe: Mnangagwa opts for sweeping economic measures with foreign direct investment

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Zimbabwe: Mnangagwa opts for sweeping economic measures with foreign direct investment

Says “bygones be bygones,” gives immunity and benefits to Robert Mugabe

Emmerson Mnangagwa, the second executive President of Zimbabwe since its independence in 1980, who took over on Friday, has announced to implement sweeping measures across different sectors with immediate effect to stimulate economic growth and create employment. He has also promised for sturdy re-engagement with the international community saying “isolation has never been splendid or viable.”

According the Harare based daily Herald, Mnangagwa, while addressing the nation after taking the oath of office at the giant National Sports Stadium in Harare, said, Zimbabwe was “renewing itself” and should never remain hostage to its past. He appealed to Zimbabweans to let “bygones be bygones” and embrace each other in defining the new destiny.

“Our economic policy will be predicated on our agriculture, which is the mainstay and on creating conditions for an investment-led economic recovery that puts premium on job creation,” he said.

He was quoted saying, “The bottom line is an economy which is back on its feet and in which a variety of players make choices without doubts and in an environment shorn of fickle policy shifts and unpredictability. Only that way can we recover this economy, create jobs for our youths and reduce poverty for all our people who must witness real, positive changes in their lives.”

To civil servants, President Mnangagwa said: “It cannot be business as usual. You now have to roll up your sleeves in readiness to deliver. We have an economy to recover, a people to serve. Each and every one of us must now earn their hour, day, week and month at work.”

The new president promised that elections would be held next year and vowed to work to advance the lives of all Zimbabweans.

Recent ouster of Mnangagwa as vice president of the country by former president Robert Mugabe, two weeks before army took over on November 15, has led to his rise to the highest position.

There are reports that outgoing President Robert Mugabe has been granted immunity from prosecution and will receive benefits package as part of a negotiated deal.

Mnangagwa has, meanwhile, praised Robert Mugabe for his contribution for country’s independence and described him as his mentor acknowledging his role in shaping Zimbabwe.

He described his taking over the reign of the country as “second phase” since gaining independence in 1980, he also expressed a willingness to re-engage with the international community and stressed that foreign direct investment was key to resolving the country’s economic crisis.

International Monetary Fund has recently warned Zimbabwe for the need of “immediate action” to address the country’s liquidity crisis. Country’s main stock market index had slumped by 40 percent following the military’s takeover.

Zimbabwe was plunged into political uncertainty on November 15, when Major General SB Moyo, chief of Staff logistics, seized power in a targeted assault on “criminals around President Mugabe.

Next day nobody came in support of Mugabe. Harare witnessed a usual day with people going to offices and children to schools. The capital remained calm and military take over remained unchallenged while efforts began to install transitional government.

Finally on November 22, Mugabe announced his resignation when parliament began impeachment proceeding against him. The controversy ended bloodlessly. The parliament speaker Jacob Mudenda’s announcement about Mugabe’s message triggered jubilation among law makers and public throughout the country.

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Bondi Beach shooting during Jewish festival leaves at least 15 dead

Australia’s Bondi Beach was rocked by the deadliest shooting in decades as a father and son opened fire during a Jewish festival, killing at least 15 people.

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Bondi shooting Australia

At least 15 people were killed and dozens injured after a mass shooting at Sydney’s iconic Bondi Beach during a Jewish celebration, in what authorities have described as the deadliest gun attack in Australia in almost 30 years.

Police on Monday confirmed that the two attackers were a father and his son. The older man, identified as 50-year-old Sajid Akram, was shot dead by police at the scene, while his 24-year-old son Naveed Akram was injured and is undergoing treatment at a hospital.

The attack occurred during the “Chanukah by the Sea” event, held to mark the beginning of the eight-day Hanukkah festival. Around 1,000 people were attending the gathering in a small park near the beach when gunfire erupted, triggering panic among crowds enjoying a busy summer evening.

What happened at bondi beach

According to authorities, emergency services received the first calls about shots being fired around 6:45 pm. Witnesses said the attack lasted roughly 10 minutes, with people running across the sand and into nearby streets to escape the gunfire.

Videos from the scene showed two men firing long guns from a footbridge leading to the beach. Police have not officially confirmed the exact weapons used, though footage suggested a bolt-action rifle and a shotgun.

In one widely shared clip, a bystander was seen tackling and disarming one of the gunmen. The man was later praised by state leadership as a “genuine hero.” A public fundraising effort launched for him had raised over A$200,000 by Monday morning.

Attackers and investigation

Police said one of the attackers was known to security agencies, though there was no prior indication of a planned assault. Authorities later confirmed they were confident only two people were involved.

The younger attacker is an Australian-born citizen. Officials said the father had arrived in Australia in 1998 on a student visa, later transitioning to other residency permits. Investigators also searched the family’s home in Bonnyrigg, in western Sydney, where a heavy police presence remained through Monday.

Victims and community impact

Those killed ranged in age from 10 to 87 years. At least 42 others were hospitalised, several of them in critical condition. An Orthodox Jewish organisation confirmed that one of the victims was Rabbi Eli Schlanger, an assistant rabbi and one of the organisers of the event.

Eyewitnesses described scenes of chaos and fear. A young lifesaver present at the beach said seeing injured people, including children, was deeply distressing and unlike anything he had experienced before.

Community leaders urged unity and calm in the aftermath, stressing the importance of supporting those affected rather than allowing anger to divide communities.

Leaders condemn attack

Australian Prime Minister Anthony Albanese visited Bondi Beach on Monday to pay tribute to the victims, calling the shooting a “dark moment for our nation.” He described the incident as an act of antisemitism and terrorism, assuring the Jewish community of the government’s full support.

Several world leaders, including the US President, the French President and India’s Prime Minister Narendra Modi, condemned the attack and expressed solidarity with Australia.

Authorities said the shooting was the most serious antisemitic attack in the country in decades, coming amid a rise in incidents targeting Jewish institutions since late 2023. Investigations into the motive behind the attack are ongoing.

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US lawmakers move resolution to roll back Trump’s 50% tariffs on Indian imports

Three US lawmakers have moved a resolution to end Trump’s emergency declaration that imposed 50% tariffs on Indian goods, calling the move illegal and harmful to trade ties.

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Three members of the US House of Representatives have introduced a resolution seeking to end former President Donald Trump’s national emergency declaration that led to steep tariffs on imports from India. The lawmakers termed the duties illegal and warned that they have hurt American consumers, workers and long-standing India-US economic ties.

The resolution has been moved by Representatives Deborah Ross, Marc Veasey and Raja Krishnamoorthi. It aims to terminate the emergency powers used to impose import duties that cumulatively raised tariffs on several Indian-origin goods to 50 per cent.

What the resolution seeks to change

According to details shared by media, the proposal specifically seeks to rescind an additional 25 per cent “secondary” tariff imposed on August 27, 2025. This was levied over and above earlier reciprocal tariffs, taking the total duty to 50 per cent under the International Emergency Economic Powers Act.

The House move follows a separate bipartisan effort in the US Senate that targeted similar tariffs imposed on Brazil, signalling growing resistance in Congress to the use of emergency powers for trade actions.

Lawmakers flag impact on US economy and consumers

Congresswoman Deborah Ross highlighted the deep economic links between India and her home state of North Carolina, noting that Indian companies have invested over a billion dollars there, creating thousands of jobs in sectors such as technology and life sciences. She also pointed out that manufacturers from the state export hundreds of millions of dollars’ worth of goods to India each year.

Congressman Marc Veasey said the tariffs amount to a tax on American households already facing high costs, stressing that India remains an important cultural, economic and strategic partner for the United States.

Indian-American Congressman Raja Krishnamoorthi described the duties as counterproductive, saying they disrupt supply chains, harm American workers and push up prices for consumers. He added that rolling back the tariffs would help strengthen economic and security cooperation between the two countries.

Background of the tariff hike

Earlier in August 2025, the Trump administration imposed a 25 per cent tariff on Indian goods, which came into effect from August 1. This was followed days later by another 25 per cent increase, citing India’s continued purchase of Russian oil. The combined duties were justified by the administration as a measure linked to Moscow’s war efforts in Ukraine.

Wider push against unilateral trade actions

The latest resolution is part of a broader push by congressional Democrats to challenge unilateral trade measures and reassert Congress’ constitutional authority over trade policy. In October, the same lawmakers, along with several other members of Congress, had urged the President to reverse the tariff decisions and work towards repairing strained bilateral relations with India.

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Mexico imposes 50% tariff on Indian imports, auto exports maybe hit

Mexico’s approval of 50% import duties on select goods from India and other Asian countries threatens nearly $1 billion worth of Indian exports, especially in the automobile sector.

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Mexico has cleared steep import duties of up to 50% on several goods from Asian nations, a move that places nearly $1 billion worth of Indian exports at risk from January 1, 2026. The decision targets countries that do not have a trade agreement with Mexico, including India, South Korea, China, Thailand and Indonesia.

Mexico moves to shield domestic industry

The new duties—covering items such as automobiles, auto parts, textiles, plastics, steel, footwear, furniture, toys, appliances, leather goods, and cosmetics—are aimed at strengthening local manufacturing. Mexico says the tariff push is designed to reduce dependence on Asian imports and support domestic producers.

China stands to face the highest impact, with Mexican imports from the country touching $130 billion in 2024. According to Mexico, the revised tax structure is also expected to generate $3.8 billion in additional revenue.

Mexican President Claudia Sheinbaum has backed the decision, framing it as an investment in domestic employment creation. Analysts, however, believe the move may also align with the United States’ expectations ahead of the upcoming United States–Mexico–Canada (USMCA) review.

Impact on India’s automobile exports

The sharpest blow for India will fall on its automobile sector. Imports of passenger cars into Mexico will now face 50% duty instead of the earlier 20%, threatening the competitiveness of major exporters including Volkswagen, Hyundai, Nissan and Maruti Suzuki.

Industry estimates cited in a report say around $1 billion worth of Indian automobile shipments could be affected. Ahead of the tariff announcement, an industry body had urged the Indian government to engage with Mexican authorities to safeguard market access.

Mexico is currently India’s third-largest car export destination, trailing only South Africa and Saudi Arabia.

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