INDUSTRIALS & ENERGY

Oil hits high

Oil prices hit a 3-1/2-year high on Tuesday, supported by tight supply and planned U.S. sanctions against Iran that are likely to restrict crude oil exports from one of the biggest producers in the Mi...

By Reuters | Published: 16 May 2018

BUSINESS NEWS

Zimpapers gets TV licence

The Zimbabwe Newspapers (1980) Ltd has been granted a television broadcasting licence by the Broadcasting Authority of Zimbabwe. This makes the media house the first and only fully integrated media ho...

By Staff reporter | Published: 16 May 2018

TELECOMS & TECHNOLOGY

Copper thieves pounce on TelOne

Fixed phone operator TelOne has fallen victim to massive theft of copper cables, with the latest being the looting of a 1 200m pair cable feeding a major section of the Harare's central business distr...

By Staff reporter | Published: 16 May 2018

MINING & RETAIL

Hwange Colliery boss suspended

HWANGE Colliery Company has suspended its managing director Thomas Makore to facilitate an investigation into allegations of insubordination, sources have revealed. But the company said the suspension...

By Staff reporter | Published: 16 May 2018

LANDS & AGRICULTURE

Tobacco sales top 100 million kg

Over 100 million kilogrammes of tobacco worth $289,8 million have been sold by farmers since the opening of the season.The tobacco was sold at an average price of $2,87 per kilogramme. According to th...

By Staff reporter | Published: 16 May 2018

MINING & RETAIL

Sinosteel to invest $1bn in Zimbabwe

China's Sinosteel Corporation has agreed to invest $1-billion in Zimbabwe to build a power plant and increase ferrochrome output, the Southern African country's President Emmerson Mnangagwa said on Mo...

By engineeringnews | Published: 15 May 2018

INDUSTRIALS & ENERGY

Proton records 400% sales growth in Bulawayo

PROTON Bakers says it has recorded 400 percent growth in sales in Bulawayo alone where it has created 153 jobs, a year after entering the market in the southern region.The Marondera-headquartered firm...

By Staff reporter | Published: 15 May 2018

INDUSTRIALS & ENERGY

Merlin seeks to dispose of obsolete, non-core assets

TEXTILE giant, Merlin, has filed a High Court application seeking to dispose obsolete and non-core assets to raise additional working capital.The Bulawayo-based company, which presently is under judic...

By Staff reporter | Published: 15 May 2018

TRANSPORT & TOURISM

'ZimAirways planes deal above board'

TRANSPORT and Infrastructural Development Minister Dr Joram Gumbo says the $70 million Malaysian plane deal will go a long way in improving the aviation industry and supporting efforts to open up the ...

By Staff reporter | Published: 15 May 2018

MINING & RETAIL

Caledonia targets 80 000 ounces by 2021

Caledonia Mining Corporations says it is on course to achieve gold production output of 80 000 troy ounces (about 2,4 tonnes) by 2021 at its Blanket Mine, although production during the quarter to Mar...

By Staff reporter | Published: 15 May 2018

FINANCIAL SERVICES

RBZ ban hits Golix

Harare digital money exchange Golix.com has suspended plans to raise $35,8 million through an Initial Coin Offering (ICO) until further notice, after the Reserve Bank of Zimbabwe (RBZ) effectively shu...

By Staff reporter | Published: 15 May 2018

MINING & RETAIL

Zim, Sinosteel seal $1bn ferrochrome deal

Zimbabwe and Sinosteel of China have signed a memorandum of understanding (MOU) to the tune of $1.01 billion for the mining of ferrochrome and coal bed methane in Matabeleland North Province.Projects ...

By Staff reporter | Published: 14 May 2018

LANDS & AGRICULTURE

Dutch firm joins Zimbabwe cannabis stampede

A Dutch firm has engaged the Zimbabwe government on intentions to set up a factory in Zimbabwe to value-add cannabis for medicinal purposes.There has been an overwhelming response from people and comp...

By Ngoni Shenjere | Published: 14 May 2018

TELECOMS & TECHNOLOGY

TelOne gets a broadcasting licence

Government has awarded the State-owned telecoms firm TelOne a broadcasting licence, allowing the company to offer video on demand services.TelOne announced the news yesterday in one of the State-run n...

By Staff reporter | Published: 14 May 2018

FINANCIAL SERVICES

Zimbabwe banks to revive long term loans

Zimbabwe's financial sector will soon revive long-term loans for the industry as the central bank is finalising affordable offshore credit line facilities with regional and global banks.  &n...

By Staff reporter | Published: 14 May 2018

TELECOMS & TECHNOLOGY

OneMoney subscribers get free school fees

Lucky subscribers of NetOne's mobile money service, OneMoney, have been paid back the money they used to pay school fees through the service, as part of a promotion being run by the mobile network ope...

By Staff reporter | Published: 14 May 2018

MINING & RETAIL

Govt targets 75 tonnes of gold annually

THE Ministry of Mines and Mining Development has set a target of producing 75 tonnes of gold annually in the next five years as Government seeks to boost reserves and increase mining sector earnings.G...

By Staff reporter | Published: 14 May 2018

MINING & RETAIL

Parly demands validation of $500m Zisco debt

THE Parliamentary Portfolio Committee on Finance and Economic Development has demanded validation of the $500 million Zisco debt to authenticate the arrears before Government takes over the firm's lia...

By Staff reporter | Published: 14 May 2018

TRANSPORT & TOURISM

Zim back to record tourist numbers

ZIMBABWE'S top resort town, Victoria Falls, has received a record number of tourists and healthy forward bookings, according to Africa Albida Tourism (AAT).AAT chief executive, Ross Kennedy, said mont...

By Staff reporter | Published: 14 May 2018

MINING & RETAIL

Hwange Colliery targets 300 000t output

HWANGE Colliery Company Limited (HCCL) says it is targeting to increase its coal production by 29.3 percent to 300 000 tonnes per month by June this year as it continues to pursue its scheme of arrang...

By Staff reporter | Published: 14 May 2018

TRANSPORT & TOURISM

New airline to fly into Zimbabwe

Zambia's leading airline, Proflight Zambia, is set to introduce flights between Harare and Lusaka during the first week of July.Civil Aviation Authority of Zimbabwe public relations and communications...

By Staff reporter | Published: 14 May 2018

LANDS & AGRICULTURE

Canadian investors target 10 000ha for Zim cannabis/ mbanje farming

CANADIAN investors are scouting for business opportunities in Guruve in a bid to secure 10 000 hectares of land for marijuana farming due to the area's favourable climatic conditions.Discussions are a...

By Staff reporter | Published: 14 May 2018

INDUSTRIALS & ENERGY

Chinese, US firms in joint bid for Batoka

GLOBAL electrical engineering giants, China Power and United States incorporated General Electric (GE), have launched a joint bid for a contract to construct the 2 400-megawatt Batoka Gorge hydropower...

By Staff reporter | Published: 14 May 2018

MINING & RETAIL

Gold to hit record highs of 30 tonnes

Zimbabwe's gold production is projected to rise to a record 30 tonnes year as producers' ramp up output, Finance and Economic Planning minister Patrick Chinamasa has told Parliament.Chinamasa said gol...

By Staff reporter | Published: 14 May 2018

LANDS & AGRICULTURE

Tobacco cash flows fail to improve liquidity

Foreign currency raised from this year's tobacco sales has not improved Zimbabwe's liquidity position because of the significant increase in the fuel import bill caused by a hike in international oil ...

By Staff reporter | Published: 14 May 2018
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