Investigators seeking men dressed as construction workers involved in home invasion - constructconnect.com - Daily Commercial News
The victim, who sustained severe injuries that required medical attention, freed himself and called police after the suspects left.
THE Zimbabwe Information and Communication Technologies (ZICT) has warned that the local financial sector is susceptible to cybercrime, urging the public and private sectors to work together.
ZICT chairman, Jacob Mutisi told NewsDay yesterday that in the wake of the recent ransomware affair, which affected 150 countries worldwide, the financial services sector was not fully equipped.
“We have realised that financial services does not have a way of stopping this kind of cyberattack, which can cripple the sector. Furthermore, our companies and government do not have a cyber security strategy and policy to address the issues. In other countries, you find cyber security centres, which monitor external and internal cyber threats just like border controls, but here in Zimbabwe we don’t have a structure like that,” he said.
“This is not only about them (financial services sector) it is about a national cyber security system. Ransomware is a simple click that attacks someone, who has an email. No one is safe. No amount of investment can protect you from this kind of attack.”
Research from ZICT found that companies operate independently of one another and the government, which made it easier for cybercrime activities.
The push comes following the global systems computer virus attack that affected 150 countries, including Zimbabwe, dubbed the “WannaCry ransomware attack” last month.
The cyber attackers behind the global attack targeted computers running the Microsoft Windows operating system by encrypting data and demanding ransom payments in the Bitcoin cryptocurrency.
The attack affected many sectors including the health, airline sector and financial services among others.
Though Zimbabwe was included in the report of affected countries, no company has since come forward.
ZICT executive, Daniel Rusike said in Zimbabwe, it was clear that cyber security boiled down to an “each man for himself” approach.
“As security threats continue to evolve and attackers become more creative in defying company security, it is time to get proactive,” he said.
“The time has come for the public and private sectors to collaborate to address the nation’s cyber-security challenges. The significant questions regarding this collaboration are to come up with a framework of the circumstances, nature, and scope of the relationship between public and private sector.”
The Zimbabwe National Risk Assessment Report of 2015 listed cybercrime as one of the crimes contributing to the $1,8 billion estimated illicit proceeds generated from criminal activity annually in Zimbabwe.
According to a previous report by the central bank on cybercrime, the most common cybercrimes in Zimbabwe are card fraud, identity theft, fake lottery/inheritance, electronic money laundering through virtual currency and electronic vandalism among others.
A number of internet users have encountered spam emails, phishing attempts and fake websites via malware and key-logger attempts and even via USB sticks that may have been infected with viruses that once accessed a defrauded person.
I would have thought instead of issuing a statement like this, the person uttering these words would have encouraged investment in security systems as a bare minimum and it is also clear that because very few companies were disrupted by this malware it is possible most companies have got their security systems and software updates in order. The most vulnerable systems were those running on Windows XP.
With electronic payments being encouraged in Zimbabwe. It is high time the country address these issues of Cyber activities.It is silent because we are still at the early stages but a few years from now, we are going to be experiencing a high rise in cybercriminal activities. I think ZICT is right in suggesting for a National Cyber Security System to be put in place.
THE Zimbabwe Stock Exchange (ZSE) market capitalisation has been trading below $9 billion since January 12, as companies continue to show caution over the new political dispensation in the country.
As of the end of yesterday’s trading, the market cap on the ZSE was $8 656 672 679, up from the $8 648 322 612 last Friday.
In an interview yesterday, Stockbrokers’ Association of Zimbabwe (SAZ) vice-chairperson, Arnold Dhlamini said investors were repositioning their business in light of the new dispensation, with a wait-and-see attitude.
“For now, I would say it is natural (time of the year), but I would also say the biggest contribution has been the change in government,” he said.
“A lot of people are now re-projecting their budgets and changing all sorts of things trying to read into the new sort dispensation so as to read into the new narrative that is now coming out. A lot of budgets are now changing. Projections were based on different assumptions but now those assumptions have been put aside.”
Since President Emmerson Mnangagwa was sworn in as the country’s leader on November 24, 2017, the stock market has continued to decline and remains stagnant at low levels, as investors have remained sceptical over Mnangagwa’s promises for reforms.
That month saw the main bourse lose over $5 billion with heavy counters such as Delta Corporation losing $2,37 billion, Econet Wireless $1,551 billion and Old Mutual losing $335,44 million on the ZSE.
Despite a myriad of promises made by Mnangagwa to try and lure investors, the main bourse has failed to recoup its former glory.
Analysts point to investors waiting for those promises to be translated into the corresponding legislation and after the national elections.
“We should see more buying coming back to align to the new narrative as well. But I think the biggest drive will be Delta (Delta Corporation), who reported a good trading update. So naturally Delta and Econet are epicentres of the market. So you will find the effect on most of the counters should start seeing Econet, Innscor, Padenga and Seed Co starting to also go up,” he said.
Dhlamini said SAZ expected a big bump in the main bourse and called this season “the buying season” for those wishing to make returns.
“So this drop is the natural January feel, but also in there is a concoction of people trying to realign themselves to the new narratives on the budget,” he added.
Actually the stock market was being driven by lack of confidence and buying stocks was one way of protecting investors especially of taking money out. Now that there is more confidence that is no longer necessary so prices self-correct. For proof check the counters that were being bought. Also compare share price of Old Mutual on ZSE, JSE and LSE. The differential between ZSE and JSE/LSE is now smaller. That reflects more confidence in ZSE jurisdiction (i.e. people don’t expect to loose their money anymore and so are less willing to pay very high premiums to salvage what they can)
I am also shocked by this lack of business knowledge from a business reporter.The truth of the matter is that the stocks were trading at a premium due to the poor macroeconomic environment which was prevailing. Now that investors are expecting the environment to improve stock prices should actually go down not the other way round.
OK fine..you do make a lot more sense but what’s with the name? Please change it to something more in line with what is happening around you…This name is so wrong and ugly…
i think this analysis isnt fair economically. its is littered with a lot of political undertones. What had caused the sudden jump from around $4Billion+ in the first place? Was this a result of economic growth a 300-400% leap in the bourse?. I see this as market correction from the wild 15Bn to its proper level of around $5BN.
Self correcting yes ! but when will fresh investment come in if the new dispensation is attractive? There is no one angle answer to this scenario . The writer is looking it from the expected rush to invest in the new zimbabwe and you are explaining the reason for drop from 15 billion to about 9 billion. That is why economics is not a straight jacket situation.
Comment…The unsustainable rush to 15 billion cap was due to inflation in the wake of political uncertainty too.In a situation where you have a 93 year old presiding over one’s investment and bond notes threatening to wipe out your investment and no one is selling their immovable property for one to hedge the stock market becomes a sensible investment both in the short term and long term.All that came to an end so the “legacy” of the stock market is being restored!
Comment…This coup government wont change anything ,they are unrepentant vampires who leave on blood.Cry my beloved country.
ZIMBABWE A national cricket team lost their one-off T-20 cricket match against Kenya A by seven wickets at Mutare Sports Club yesterday.
After whitewashing their guests in the one-day series, Zimbabwe were expected to continue the winning run in the 20-overs version of the game, but they found themselves on the receiving end.
The hosts went in to bat first and they struggled to impose themselves as they lost wickets at regular intervals.
In the end they managed 110 runs in their allotted 20 overs which didn’t give the bowlers something to work with.
Kenya raced to the target in 14.4 overs with Dhiren Gondaria’s unbeaten 68 being the top score for the Kenyans.
Wellington Masakadza, Tino Mutombodzi and 20-year-old Rugare Magarira claimed a wicket each, but there wasn’t any more success to write home about.
Once the batsmen struggled to put an imposing total on the board, the bowlers were always going to find it tough to defend such a low score.
Skipper Prince Masvaure top-scored for Zimbabwe with 23 while opener Chamu Chibhabha hit 20 and Mutombodzi made 19.
Cephas Zhuwao, who lit up the one-day series with some brutal batting displays, struggled yesterday and was dismissed after facing three balls, one of which he heaved for a maximum, before he became Kenya A’s first wicket.
Meanwhile, the Zimbabwe and Ireland women’s national teams’ match was abandoned without a ball being bowled due to a wet outfield following rains that fell on Sunday and yesterday morning.
Stocks inched into record territory again Monday on a day of small fluctuations in trading. Both the Dow Jones industrial average and the Standard & Poor's 500 index closed at all-time highs.
At the close on Wall Street, the Dow added 26.3 points, or 0.1 percent, to close at nearly 18,299. The S&P 500 rose up 6.5 points, or 0.3 percent, to 2,129.2. The Nasdaq composite gained 30.2 points, or 0.6 percent, to 5,078.4, but did not reach a record. The Dow and S&P 500 closed with records on Friday, also.
Ann, the parent company of Ann Taylor and Loft, jumped 20 percent after it agreed to be acquired by Ascena Retail Group.
Endo International fell 5 percent after it agreed to buy privately held Par Pharmaceutical for $8 billion.