BUSINESS NEWS

Zimbabwe earns US$5bn through exports

ZIMBABWE'S foreign currency receipts are close to US$5 billion from January to date, which indicates that the country is generating sufficient forex to cater for its economic requirements, Industry an...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

'Zisco demise costing Zimbabwe US$400m annually'

ZIMBABWE is losing about US$400 million annually through importing steel and related products since the collapse of Zisco in the last decade, Industry and Commerce Minister, Mangaliso Ndlovu, has said...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

Biti to recommend the prosecution of some top RBZ officials

PUBLIC Accounts Committee chair Tendai Biti says parliament will soon recommend the prosecution of some top Reserve Bank of Zimbabwe (RBZ) officials over the reckless issuance of treasury bills (TBs) ...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

Govt to float infrastructure bond for Harare

The Government will soon float an infrastructure bond to raise funds for water, sewer, roads and other equipment for the City of Harare, a Cabinet minister said yesterday. The Harare City Council is s...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

RBZ dismisses 'new' coins

Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday expressed concern over the rising cases of "fake news" which have the capacity to undermine Government efforts to transform the econo...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

Zimbabwe has the highest inflation rate in the world

Annual inflation in Zimbabwe was 300 percent in August, according to new data released by the International Monetary Fund (IMF). At that level, the troubled southern African nation's inflation rate is...

By Staff reporter | Published: 27 September 2019

POLITICS

USA big guns move to punish Mnangagwa's wife for Zimbabwe chaos

AN INFLUENTIAL 15-member American group that includes three former ambassadors to Zimbabwe wants First Lady Auxillia Mnangagwa, pictured, stripped of an award that was given to her by a top United Sta...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

West tightens screws on Zimbabwe

IN AN ominous development for both President Emmerson Mnangagwa and his government, a reputable United States university has stripped First Lady Auxillia Mnangagwa, pictured, of an award it had given ...

By Staff reporter | Published: 27 September 2019

POLITICS

Grace Mugabe humiliates Mnangagwa

IN YET another dramatic turn of events to hit the funeral arrangements of former president Robert Mugabe, his family has changed its mind and will now bury him in Zvimba this weekend - and not in a sp...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

Average Zimbabwean lived On $12.78/day in August

According to Zimstat's latest statistics the average Zimbabwean lived on $12.78 per day while the average family needed $1,827 in order not to be deemed poor. The figure implies that Zimbabweans are n...

By Staff reporter | Published: 24 September 2019

POLITICS

Mnangagwa is a chancer, says Malema

PRESIDENT Emmerson Mnangagwa and his acolytes in the current Zanu-PF set-up that seized power in the November 2017 coup are chancers who have desperately tried to emulate former President Robert Mugab...

By newzimbabwe | Published: 24 September 2019

BUSINESS NEWS

Mohadi to open Victoria Falls Agric Show

ACTING President, Kembo Mohadi, is set to officiate at the 2019 Victoria Falls Agricultural Show, which begins here on Thursday. Organisers of the exhibition target to go international by 2021, riding...

By Staff reporter | Published: 24 September 2019

POLITICS

Malema mourns Mugabe

SOUTH African Economic Freedom Fighters leader Mr Julius Malema has called on Africans to unite  to achieve political, economic and social growth. The EFF leader said this yesterday when he came ...

By Staff reporter | Published: 24 September 2019

BUSINESS NEWS

Harare shuts down its main water works

Harare shut its main water works on Monday citing shortages of foreign currency to import treatment chemicals, the deputy mayor said, potentially leaving the city dry and raising the risk of water bor...

By Reuters | Published: 24 September 2019

BUSINESS NEWS

Consumers demand price cuts

CONSUMERS have called on the business community to reduce prices in line with the decline in exchange rates and implored Government to create a framework that guides pricing based on productive fundam...

By Staff reporter | Published: 24 September 2019

BUSINESS NEWS

Bureaux de change align rate to interbank

Government, through the Reserve Bank of Zimbabwe (RBZ), has moved to refine the operations of bureaux de changes to align their foreign currency exchange rate with that of the official interbank marke...

By Staff reporter | Published: 24 September 2019

BUSINESS NEWS

Forex speculators hit hard

Currency speculators who, last week, disposed of their Zimbabwean dollars for the US dollar at very high exchange rates with the expectation that the local currency will plunge further, are counting t...

By Staff reporter | Published: 24 September 2019

BUSINESS NEWS

Zimra lifestyle audit: 36 suspended

THE Zimbabwe Revenue Authority (Zimra) suspended at least 36 officers implicated in lifestyle audits, while processes are underway at the High Court to forfeit the ill-gotten wealth.Zimra Commissioner...

By Staff reporter | Published: 24 September 2019

POLITICS

Hectic UN schedule for Mnangagwa

President Mnangagwa faces a hectic schedule during the 74th Ordinary Session of the United Nations General Assembly (UNGA 74) with a long list of crucial bilateral meetings lined up with representativ...

By Staff reporter | Published: 24 September 2019

BUSINESS NEWS

Pensions pay out date moved

PENSIONERS from the Public Service Commission will not be able to access their pay this Friday due to a resolution to have their pensions reviewed in line with the cost of living.In a statement yester...

By Staff reporter | Published: 24 September 2019

BUSINESS NEWS

Mthuli Ncube speaks on approximate exchange rate

THE appropriate exchange rate between the Zimbabwe dollar and the United States dollar should hover around US$1: ZWL$5,6 based on "founded quantitative estimates", Finance and Economic Development Min...

By Staff reporter | Published: 24 September 2019

OPINION

Beware of safe haven assets, fair value adjustments tend to burn later on

The Zimbabwean economy is fundamentally going through what the global economy is experiencing as well, albeit due to slightly different dynamics. A safe haven is generally a place where investors "par...

By Staff reporter | Published: 23 September 2019

OPINION

Zimbabwe currency stability faces headwinds

The battle for new currency stability faces severe headwinds, and the signs are not good. It was always going to be an uphill task, even under the best of conditions to re-introduce a currency that wa...

By Joseph Mverecha | Published: 23 September 2019

BUSINESS NEWS

Money supply growth accelerates in June

The Reserve Bank of Zimbabwe (RBZ) released its monthly economic review for June detailing monetary statistics for the 2019 half year. The report comes in the build up to Governor Dr. John Mangudya's ...

By Staff reporter | Published: 23 September 2019

POLITICS

Mugabe dies in front of Grace

Zimbabwe's founding leader Robert Gabriel Mugabe has died aged 95.Mugabe died in a hospital in Singapore on Friday surrounded by family including his wife, Grace."Sadly, we have lost him. It's a day w...

By Staff reporter | Published: 06 September 2019
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