The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
The Reserve Bank of Zimbabwe released US$10 million worth of a controversial quasi-currency Monday in an attempt to ease the country's liquidity troubles.
The initial release of the so-called bond notes will be "released into the market through normal banking channels in small denominations of $2 and $5," according to a press release from the Reserve Bank of Zimbabwe. The new bond notes and coins are pegged 1:1 to the U.S. dollar. The statement, published on Saturday, detailed that this initial $10 million release would take the form of $2 bond notes and $1 bond coins.
Bond coins first began to be issued in late 2014 in an attempt to ease the country's liquidity crisis.
Zimbabwe's currency collapsed in 2009 following hyperinflation, during which the 100 trillion Zimbabwean dollar note was widely reported to be so worthless that it was unable to cover the cost of a bus ticket. Since the government scrapped the Zimbabwean dollar, a range of currencies are now officially accepted in the country, the most prominent of which is the U.S. dollar.
The country's liquidity issues were partly due to an import/export imbalance. World Bank data chalks Zimbabwe's total imports of goods and services to fall at 48.76 percent of gross domestic product (GDP), whereas its export percentage is recorded to be just 26.25 percent. According to the Reserve Bank of Zimbabwe's press release, the bond notes are intended "to fund export incentives of up to 5 percent which will be paid to exporters of foods and services and diaspora remittances."
No new accounts will be opened, as the bond notes will be deposited into existing U.S. dollar accounts. Withdrawal limits of bond notes have been set at a maximum of $50 per day and $150 per week.
The bond notes are backed by a US$200 million African Export Import Bank loan, according to a press release from the Reserve Bank of Zimbabwe from May of this year. The statement also said that the bond notes would be printed outside Zimbabwe "on an agreement that also safeguards against abuse of the facility."
Street protests are reported to have sparked up across the country. Many Zimbabweans doubt the government's ability to manage the new bond note system, with some shops refusing to accept the currency.
"There is a complete lack of trust in (Zimbabwe's) government," Christopher Vandome, a research assistant at think-tank Chatham House's Africa program, told CNBC via telephone.
Some consider the bond notes' success to be directly correlated to President Robert Mugabe's future hold on power. Reuters reported on Friday that intelligence briefings it had seen advocated this, warning the country's leader to "wake up and smell the coffee." At 92, Mugabe is the world's oldest head of state.
Vandome added that the bond notes' success "comes down to whether or not people will accept this," adding that "no-one's come up with an alternative."
Follow CNBC International on and Facebook.