At the start of the 20th century, U.S. Steel’s $1.4 billion valuation reflected an economy driven by railroads, construction, and large-scale manufacturing, with steel forming the backbone of global industrial growth.

By the mid-20th century, that focus had shifted to mobility and mass production. In 1955, General Motors reached a $10 billion valuation, embodying the postwar automotive boom that reshaped cities, trade, and consumer culture.

A further transformation emerged in the late 20th century. General Electric crossed the $100 billion mark in 1995, signalling the rise of diversified multinational conglomerates spanning energy, aviation, and finance. In 1999, Microsoft’s $500 billion valuation marked a decisive turn toward software, computing, and digital infrastructure as central drivers of economic value.

The trillion-dollar milestone arrived in 2018 when Apple became the first publicly traded company to exceed a $1 trillion market capitalisation. Its growth was powered by consumer technology, global supply chains, and platform-based revenue, highlighting the dominance of digital ecosystems in the modern economy.

The most recent phase is defined by artificial intelligence. Nvidia, a key supplier of advanced semiconductors for AI computing, surpassed $3 trillion in market value in 2024 amid surging demand from companies including OpenAI, Microsoft, Google, and Amazon.

Artificial intelligence has become a central force shaping markets, government policy, and corporate strategy. The United States , the European Union, and China are advancing regulatory frameworks while competing to secure critical AI infrastructure and talent.

The International Monetary Fund estimates that AI could affect nearly 40% of global jobs , underscoring both the economic potential and the structural disruption associated with this technological transition.

Cocoa, the raw ingredient behind chocolate, carries a premium because of its narrow supply base and sensitive growing conditions. Recent data from International Cocoa Organization (ICCO) show cocoa beans trading at roughly US$5,900 per tonne.

Meanwhile, commodity trackers like Trading Economics report futures near US$6,485/tonne.

In producing nations such as Ghana, complications add to the story. Ghana’s government raised its fixed farm-gate price for cocoa by nearly 45 % in September 2024 — from 33,120 to 48,000 Ghanaian cedis (about US$3,070 per tonne) — to support farmers and curb bean smuggling.

And though prices recently eased (global cocoa futures dropped toward US$6,120/tonne, close to a 20-month low) they still reflect underlying supply vulnerability. Climate shocks, disease in West Africa, and ageing tree stocks all press on cocoa’s supply side.

In contrast, steel is an industrial commodity in vast supply. Global indices from sources like MEPS International show world steel prices per tonne in the hundreds of US dollars. Another tracker puts hot-rolled band export prices at around US$470/tonne.

Steel’s value is tied more to volume, infrastructure use and global economic cycles. For example, press reports show steel prices in India dropping to five-year lows as demand from construction slows.

Tourism in Zimbabwe is projected to gain momentum throughout 2024, continuing the upward trend that began in the post-pandemic period of 2022-2023. Although a significant rise is anticipated in 2024, it's expected that tourist numbers will return to the pre-pandemic heights of 2019 by 2025. Looking ahead from 2025 to 2028, the tourism sector is forecasted to experience sustained growth, supported by the diversification of Zimbabwe's principal source markets and the country's extensive selection of attractions and tourism activities, BMI reports.

Zimbabwe kickstarts steel production

Tsingshan Holding Group, a Chinese manufacturing giant, has initiated operations at its steel production facility in Zimbabwe, valued at $1 billion, as reported by Reuters. The plant, managed by Tsingshan's affiliate, Dinson Iron and Steel Company, is set to manufacture 600,000 metric tons of carbon steel annually in its initial phase. Plans include ramping up production to 1.2 million metric tons and eventually reaching 5 million metric tons in subsequent phases, according to Energy Capital and Power . “We have started to produce pig iron, which is a raw material used for the production of steel. By July, that’s when we will start to produce the actual carbon steel,” stated project director Wilfred Motsi.

Fake doctors arrested

The government of Zimbabwe has issued a caution regarding a rise in the number of unqualified medical practitioners, a situation that presents a grave risk to the health and safety of the public. It has come to light that, since the previous year, 44 individuals posing as doctors and instructors have been apprehended at the Parirenyatwa Group of Hospitals. On Monday, June 24, the Health Professions Authority Zimbabwe (HPAZ), which is responsible for safeguarding public health, alerted the nation to the growing issue of fraudulent medical professionals, as chronicled by the Chronicle . “The rise of individuals posing as qualified medical professionals, despite lacking the necessary credentials and expertise, poses serious threats to public health and safety. As part of its mandate, the Authority seeks to uphold and promote high standards for the healthcare delivery system in Zimbabwe through the coordination of the eight health professions councils and health care institutions in an ethical, efficient and professional manner,” read the statement.

Call to protect sugar factory

Darlington Chiwa, the Member of Parliament for Chiredzi West, has urged the government to enact measures safeguarding the sugar sector, emphasising its role in fostering sustainable progress and economic expansion in Zimbabwe, as per News Day . His remarks followed a press visit to the sugar estates and processing facilities of Tongaat Hulett Zimbabwe in the Lowveld region. The company manages two major operations in the area: Hippo Valley and Triangle.

Iran ties

The foundation of the relationship between Zimbabwe and Iran is strong, having been established and nurtured over the years through joint economic efforts. Therefore, the untimely demise of Iran's former President Ebrahim Raisi and Foreign Minister Hossein Amir Abdollahian is not expected to hinder their ongoing partnership. Zimbabwe's Ambassador to Iran, Bright Kupemba, confirmed this during a recent interview with Iranian media in Tehran. Ambassador Kupemba's statement aligns with that of his Iranian counterpart, Ambassador Abbas Navazani, who also emphasised that the anticipated surge in economic ties between the two nations will remain unaffected by President Raisi's tragic death in a helicopter accident, reports The Herald .

In a recent interview with the Financial Times , Bold Baatar of Rio Tinto said, " There is nothing else out there of this scale and size ."

Financial Times reported that the project, located 550km from Guinea's coastal capital, involves partnerships between Rio Tinto, the Guinean government, and at least seven other companies, including five from China.

Two major mines, Simfer project and the WCS project, will be constructed by Rio Tinto-Chinalco, the world’s biggest aluminium producer and Baowum, the world’s biggest steel producer in partnership with Winning International Group consortiums, respectively.

A 552km railway through Guinea’s mountains towards the sea and a deepwater port on Guinea's Atlantic coast will also be developed.

According to Baatar, the project is too expensive for any single miner to develop alone. The projected share of the total cost for Rio Tinto only is estimated to be $6.2 billion.

“Historically, when you look at the mining industry, each mine had their own infrastructure. The capital number is so big for any single party, Baatar said during his interview with Financial Times .

Simandou in the south-east of the Republic of Guinea is believed to be the world’s largest deposit of u ntapped high-grade iron ore.

In March 2023, Guinean authorities and shareholders including Rio Tinto agreed on the terms of a joint venture to mine Simandou which paved work for the resumption of the project after years of setbacks, international media Reuters reported.

Baatar said groundwork has commenced, and once Beijing approves Chinalco's investment, construction of the mine will follow.

To address environmental concerns including carbon emissions, Rio Tinto and partners are exploring alternative methods like direct reduced iron technology, utilizing hydrogen and carbon monoxide instead of coke.

This process demands high-grade iron ore, which is hard to come by. However, with Simandou’s average iron content exceeding 65%, among the world’s highest, the process is possible.

According to Baatar, the first ore shipments from the factory are expected in 2025, with production scaling up to reach 60 million tonnes annually by 2028, contributing roughly 5% to the global seaborne iron ore market.