LANDS & AGRICULTURE

Zanu-PF orders Tongaat Hullet to surrender plantations

The Zanu-PF Masvingo provincial leadership has ordered sugar cane growing giant Tongaat Hullet to immediately surrender over 6 000 hectares of cane plantations at Triangle that will be allocated to la...

By Staff reporter | Published: 12 September 2013

CONSTRUCTION & PROPERTY

Zimre Property Investment happy with return from projects

ZIMRE Property Investments Limited is pleased with the rate at which they are recovering the returns from their two projects in Harare and Masvingo.The company has to date sold a total of 303 stands ...

By Staff reporter | Published: 11 September 2013

INDUSTRIALS & ENERGY

NewsDay set to retrench staff

Alpha Media Holdings (AMH) is restructuring its operations in editorial, advertising and distribution departments which could result in some positions with the organisation being made redundant.AMH C...

By Staff reporter | Published: 11 September 2013

TELECOMS & TECHNOLOGY

Liquid connects Zimbabwe to West Africa

ECONET WIRELESS-OWNED internet access provider and internet service provider Liquid Telecom recently announced that it has completed the country's first direct fibre connection to the West African Ca...

By Business Reporter | Published: 11 September 2013

TRANSPORT & TOURISM

RTG launches a new jingle

Rainbow Tourism Group has launched a new jingle that is centred on their payoff line "Whithersoever, whensoever with RTG life is nice" and their dancing in the rain thrust. Dancing in the rain was tak...

By Staff reporter | Published: 11 September 2013

TRANSPORT & TOURISM

RTG launches 'Stay now, pay later' scheme

ZSE-listed Rainbow Tourism Group yesterday scored a first in the hotel industry when it launched a new package, "Stay now, pay later", that allows individuals and organisations to book into the hotel ...

By Business Reporter | Published: 11 September 2013

TELECOMS & TECHNOLOGY

Potraz unveils spectrum plan

THE Postal and Telecommunications Regulatory Authority of Zimbabwe has released the Zimbabwe National Frequency Allocation Plan draft which will indicate the extent of frequency resources that will b...

By Staff reporter | Published: 11 September 2013

FINANCIAL SERVICES

IDC needs $100m for recapitalisation

The Industrial Development Corporation (IDC) of Zimbabwe says it needs more than $100 million to recapitalise its subsidiaries.The proposed funds are aimed at reviving the corporation's divisions, whi...

By Staff reporter | Published: 10 September 2013

INDUSTRIALS & ENERGY

ZESA writes off debts

Power utility company ZESA has announced a $170 million debt relief for domestic customers and resettled and rural farmers.ZESA says the debt relief to customers was devised after extensive consultati...

By Staff reporter | Published: 10 September 2013

TRANSPORT & TOURISM

RTG in bid to boost domestic tourism

ZSE-listed Rainbow Tourism Group yesterday scored a first in the hotel industry when it launched a new package, Stay now, pay later that allows individuals and organisations to book into the hotel gr...

By Staff reporter | Published: 10 September 2013

MINING & RETAIL

Bindura Nickel Corp targets profitability

BINDURA Nickel Corporation is projecting to attain a cash positive position by the end of next month after overcoming its immediate funding requirements.The projection is contained in the firm's finan...

By Business reporter | Published: 10 September 2013

CONSTRUCTION & PROPERTY

Zimre rental income contribution reduce significantly

Zimre Property Investment (ZPI) released a lukewarm set of numbers showing a 25% growth in revenue to $3.5m from $2.8m. Rental income contribution reduced significantly from a high of 70% in December ...

By Staff reporter | Published: 10 September 2013

FINANCIAL SERVICES

First Mutual release a mixed set of numbers

First Mutual Holdings Limited (FMHL) released a mixed set of numbers indicating a 16% jump in gross premium written to $52m from $45m in the prior period. The biggest contribution to revenue came fro...

By Staff reporter | Published: 10 September 2013

FINANCIAL SERVICES

Zimbabwe banks poorly ranked

Zimbabwean banks have been ranked among the worst financial institutions in the world due to low capitalisation levels and systemic risks inherent in the economy.According to the World Economic Forum ...

By Staff reporter | Published: 10 September 2013

TRANSPORT & TOURISM

Emirates appoints new commercial operations chief

HARARE - Orhan Abbas, whose career spans 15 years within commercial roles at Emirates, has been appointed Senior Vice President, Commercial Operations, Latin America, Central and Southern Africa.Orhan...

By Staff reporter | Published: 10 September 2013

FINANCIAL SERVICES

Imara, Mondise Capital launch joint venture

Johannesburg-based investment holding company, Mondise Capital and the pan-African Imara financial services group today (Tuesday, September 10) announced the formation of a joint venture, Imara Mondis...

By Staff reporter | Published: 10 September 2013

CONSTRUCTION & PROPERTY

Pearl records a 22.2% rise in half year profit

ZSE-listed concern Pearl Properties' profit for the six months to June was up 22,2% to $ 1,9 million driven by growth in net property income, the company has announced.Basic earnings per share rose t...

By Business reporter | Published: 10 September 2013

BUSINESS NEWS

Stanchart earnings decline

STANDARD Chartered Bank of Zimbabwe Limited profit for the six months to June has narrowed to $7,2 million compared with $8 million over the same period last year due to growth in operating expenses.D...

By Business reporter | Published: 10 September 2013

MINING & RETAIL

Zimasco accused of favouritism

Small-scale miners have accused top management at the chrome mining giant, Zimasco, of pushing them out of business by awarding lucrative contracts to large-scale miners. The miners said Zimasco rece...

By Business reporter | Published: 10 September 2013

FINANCIAL SERVICES

Govt to dispose 49% stake in Agribank

The government is expected to invite bids for potential investors to take up 49 percent stake in the Agricultural Development Bank of Zimbabwe (Agribank) to recapitalise the financial institution.In ...

By Staff reporter | Published: 09 September 2013

INDUSTRIALS & ENERGY

ZESA still to decide on debt write-off

Power utility Zesa Holdings said it is awaiting the appointment of a new Energy Minister to decide whether it should also write off domestic consumers' debts, the New Ziana reported.Pressure has been ...

By Staff reporter | Published: 09 September 2013

FINANCIAL SERVICES

Ngwerume and associates to acquire 3.5% of Old Mutual

FORMER Old Mutual Zimbabwe chief executive Mr Luke Ngwerume and his business associates Mr Toddy Moyo and Mrs Tracey Mutaviri will get a $12 million loan from the insurance group to acquire a 3,5 perc...

By Business reporter | Published: 09 September 2013

FINANCIAL SERVICES

Metbank snaps up Interfresh shares

Metbank Limited has snapped up a 32.1% stake in Interfresh Limited after taking up 63.7 million shares as the underwriters to the horticultural concern's poorly subscribed rights issue which closed la...

By Business reporter | Published: 09 September 2013

FINANCIAL SERVICES

Agribank posts half-year loss

The Agricultural Bank of Zimbabwe (Agribank) posted a $3.7 million loss for the 6 months ended June 30, 2013 due to low levels of lending and measures introduced by the Reserve Bank. The $3.7 million...

By Business reporter | Published: 09 September 2013

FINANCIAL SERVICES

AfrAsia increases its footprint in Zimbabwe

AFRASIA HOLDINGS has entrenched its footprint on the Zimbabwe financial landscape and the economy in general after assuming a controlling interest in AfrAsia Kingdom Limited, which will be renamed Afr...

By Staff reporter | Published: 09 September 2013

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