INDUSTRIALS & ENERGY

OK earnings decline

OK Zimbabwe grew its revenue by 5.4% to $243.6 million from $231.2 million for the half year ended 30 September 2013. Earnings per share declined to 0.43 cents from 0.47 cents in prior year.Prot bef...

MINING & RETAIL

Gomwe pleads with banks to back coal

JOHANNESBURG - Development banks must help developing countries to use their coal in the cleanest possible way rather than starve them of funding, World Coal Association energy and climate committee c...

Court stops compulsory acquisition of CFI land

The Labour Court has stopped the government from compulsorily acquiring over 1000 hectares of land belonging to Crest Breeders International.In a judgement handed down by Labour Court President, Justi...

FINANCIAL SERVICES

Man sues Barclays Bank over blacklisting

A Harare businessman, who was wrongly blacklisted in the banking sector for 14 years as a bad debtor, has taken Barclays Bank of Zimbabwe to the High Court claiming damages for defamation and loss of...

INDUSTRIALS & ENERGY

Afdis in bid to raise $5 million

Spirits brewer African Distillers said on Monday it intends to raise $5 million through a rights offer of over 15 million shares.The Zimbabwe Stock Exchange listed company said the funds would be inve...

INDUSTRIALS & ENERGY

TN Harlequin in major shutdown

FURNITURE retailer TN Harlequin is set to close down most of its factories and significantly reduce its workforce as the company respond to massive decline in demand for its products.Chief executive o...

INDUSTRIALS & ENERGY

PPC records double digit sales growth in Zim

PPC, the largest cement maker in South Africa, said full-year profit climbed 10% after sales increased in its home market and neighbouring Zimbabwe.Cement sales in Zimbabwe recorded double-digit growt...

FINANCIAL SERVICES

AfrAsia wins prestigious award

AFRASIA Bank Limited has won the Best Private Bank in Mauritius award at the Global Private Banking Awards recently held in Geneva.The awards were presented by Professional Wealth Management and The ...

MINING & RETAIL

Bindura Nickel Corp overcomes financial woes

BINDURA Nickel Corporation may now be looking ahead to developing and maximising returns from its Hunters Road resource, smelting and refinery assets after eventually overcoming its financial woes fol...

MINING & RETAIL

Zim aims to be among top 5 gold producers

Zimbabwe is targeting to become one of the top five gold producing countries in Africa within the next three years, a Cabinet minister has said.Zimbabwe's gold sector is slowly recovering after decli...

TRANSPORT & TOURISM

Air Zim urged to re-introduce flights to Beijing

Air Zimbabwe should consider re-introducing flights to Beijing, China through Singapore since it is lucrative and can be sustained, Zimbabwean ambassador to Singapore and Indonesia Alice Magecha said ...

LANDS & AGRICULTURE

Raw milk producers to miss annual target

The National Association of Dairy Farmers (NADF) has said Zimbabwe will miss its 2013 raw milk production target of 70 million litres due to various constraints farmers faced.This year's milk target w...

MINING & RETAIL

Gold dips as physical demand weakens

London - Gold prices eased on Monday as lacklustre physical demand and a retreat in other commodities prompted traders to lock in three days' worth of gains, although expectations that US monetary pol...

INDUSTRIALS & ENERGY

Delta Corp pays $16m dividends

Delta Corporation (Delta) will pay out a total $16 million after declaring a 1,30 US cents per share interim dividend in the half year to September 2013.This comes as most Zimbabwe Stock Exchange (ZSE...

INDUSTRIALS & ENERGY

Reduced production hits Colcom turnover

Listed meat processor Colcom Foods Limited says its flagship foods division's turnover slumped 10 percent in the four months to October 2013 compared to same prior year period due to reduced productio...

INDUSTRIALS & ENERGY

Ingwebu Breweries launch new promotion

INGWEBU Breweries has launched a new promotion known as Siburorotha S'jaiva Sonke which coincides with the company's 100th anniversary.The promotion will cascade to all Ingwebu products under the pro...

INDUSTRIALS & ENERGY

Zimglass runs out of raw materials

ZIMBABWE Glass Company, the country's sole flint glass producer has temporarily suspended production due to inadequate raw materials, Zimglass acting chief executive, Mr Gilbert Tapfuma has said.Speak...

MINING & RETAIL

Mabwe Minerals seeks green light to start operations

United States based Mabwe Mineral Holdings Incorporation (MMI) said it has been compiling documents (specifications sheets) that are necessary for it to get the green light to commence full scale oper...

Pension fund in actuarial deficit

The Local Authorities Pension Fund (LAPF) ability to meet its pension obligations is in doubt as the institution is facing a $341,4 million actuarial deficit as at the end of December 2012.The LAPF is...

MINING & RETAIL

Dalny Mine closure impacts New Dawn revenue

New Dawn Mining revenue was adversely impacted by the closure of the Dalny Mine effective August 30, 2013, as well as the continuing decline in the price of gold during the quarter ended September 30...

TRANSPORT & TOURISM

Cresta Sprayview relaunched after $1.6m renovation

Tourism and Hospitality Industry Deputy Minister Walter Kanhanga has relaunched TA Holdings latest offering - Cresta Sprayview - after a $1.6 million upgrade at the Victoria Falls hotel. The fund...

LANDS & AGRICULTURE

Colcom volumes, turnover growth to continue

Colcom expect the trend of volumes and turnover growth to continue at about 14% over prior year and that profitability will be enhanced by managing all operational costs downwards in an environment o...

FINANCIAL SERVICES

Andrew Schultz joins Imara Africa Securities

Imara Africa Securities today announced the addition of Andrew Schultz to its team with immediate effect. Andrew will lead the equity sales/strategy function which the Group say will deal with an exis...

MINING & RETAIL

'NewZim Steel deal to take longer than expect'

WORKERS of NewZim Steel, formerly Ziscosteel, might have a gloomy Christmas following revelations by Industry and Commerce Minister Mike Bimha that Essar Africa Holdings and the Government were still ...

FINANCIAL SERVICES

Imara projects loss turnaround

Investment advisory firm Imara Holdings Limited (Imara) has projected a turnaround of its losses to record a profit in the half year to October 2013.The Botswana Stock Exchange-listed group - set to ...