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BUSINESS NEWS

Civil servants to receive another salary hike

JUSTICE minister Ziyambi Ziyambi yesterday assured Parliament that government is hoping to further increase civil servants' salaries to cushion them from the rising cost of living.Responding to differ...

By Staff reporter | Published: 20 June 2019

POLITICS

Chamisa demotes MDC bigwigs

A month after out manoeuvring his MDC competitors at the party's Gweru congress, opposition leader Nelson Chamisa, yesterday moved to consolidate his power - demoting some of the party's stalwarts and...

By Staff reporter | Published: 20 June 2019

BUSINESS NEWS

Judge blasts ZPC over Chivayo's solar project

High Court judge Justice Tawanda Chitapi has castigated the Zimbabwe Power Company (ZPC) for its lackadaisical approach to finding common ground with Intratrek Zimbabwe fronted by Wicknell Chivayo to ...

By Staff reporter | Published: 20 June 2019

INDUSTRIALS & ENERGY

Pepsi Zimbabwe increases production by 200%

PEPSI Zimbabwe, the local unit of Varun Beverages, says production capacity at its manufacturing and bottling plant in Harare has increased by 200% due to huge demand of its product, local and abroad....

By Staff reporter | Published: 20 June 2019

BUSINESS NEWS

Zimbabwe Investment Development Bill softens up on foreign investors

THE Zimbabwe Investment Development Bill (Zida), currently in its second reading stage in the National Assembly, will soften up on foreign investors and treat them in the same way that Zimbabwean inve...

By Staff reporter | Published: 20 June 2019

BUSINESS NEWS

'Trade policy, export strategy ready by third quarter'

ZimTrade chief executive Allan Majuru says he expects the trade policy and export strategy (TPES) document meant to boost exports to be ready before the end of the third quarter.The TPES is an impleme...

By Staff reporter | Published: 20 June 2019

INDUSTRIALS & ENERGY

Tongaat defers financial results

REGIONAL sugar producer, Tongaat Hulett (THL), has deferred publishing of its periodic financial results to October 2019 pending conclusion of its financial review and associated forensic investigatio...

By Staff reporter | Published: 20 June 2019

ZIMBABWE

CSD market value clocks RTGS$11bn

CHENGETEDZAI Securities Depository (CSD) market value has risen to RTGS$11 billion as at end of May 2019 after processing in excess of 82 120 securities deposits since going live in August 2014. Aroun...

By Staff reporter | Published: 19 June 2019

OPINION

Zimbabwe's endless currency circus and cycle

When it comes to currency management in Zimbabwe there is always déjà vu which is a result of repeated fallible prescriptions. It's a circus where the actors enjoy their never-ending play with the a...

By Ngonidzaishe Makaha and Adrian Mapiye | Published: 14 June 2019

INDUSTRIALS & ENERGY

Chivhayo in fresh energy scandal

Controversial businessman Wicknell Chivhayo is in the eye of a storm as it emerged this week he could have misled the Zimbabwe Power Company (ZPC) into making payments for earthmoving equipment worth ...

By Staff reporter | Published: 14 June 2019

MINING & RETAIL

Mnangagwa ally's ACF restructures, suspends operations

One of Zimbabwe's major chrome producers, African Chrome Fields (ACF), has temporarily suspended operations as the company embarks on a restructuring exercise.Information at hand shows ACF produced 10...

By Staff reporter | Published: 14 June 2019

POLITICS

Mliswa slapped with $10m defamation lawsuit

Norton MP Temba Mliswa (independent) has been taken to the High Court by BDO Zimbabwe boss, Ngoni Kudenga, who is demanding $10 million compensation for alleged defamation.The lawsuit emanates from a ...

By Staff reporter | Published: 14 June 2019

POLITICS

'Mnangagwa violates Constitution on Lupane East by-election'

LEGISLATIVE watchdog, Veritas, has said the Lupane East by-election will count as yet another failure by government to comply with the country's Constitution.President Emmerson Mnangagwa, by proclamat...

By Staff reporter | Published: 14 June 2019

LANDS & AGRICULTURE

Increased revenue drives Seed Co PAT to US$90,7m

Seed Co Limited posted an after-tax-profit of US$90,7 million in the year ended March 31, up from US$21,4 million recorded in the prior year, driven by an increase in revenue.Revenue was up 16% to US$...

By Staff reporter | Published: 14 June 2019

LANDS & AGRICULTURE

Cyclone Idai costs Ariston Holdings US$1,5 million in damages

ARISTON Holdings Limited (AHL) says Cyclone Idai damaged the company's plantations in the Eastern Highlands, with early indications suggesting that the damage could be worth US$1,5 million."In March 2...

By Staff reporter | Published: 14 June 2019

LANDS & AGRICULTURE

Zimplow revenue grows by 86%

LISTED manufacturer and distributor of farming implements, Zimplow, says its revenue grew by 86% to $29,8 million in the first five months of 2019, driven by an improvement in volumes across the group...

By Staff reporter | Published: 14 June 2019

BUSINESS NEWS

Anti-corruption special unit dumps Potraz boss's case

The presidential anti-corruption special prosecution unit has dumped the matter in which the Postal and Telecommunications Regulatory Authority of Zimbabwe director-general Gift Machengete is being ac...

By Staff reporter | Published: 14 June 2019

LANDS & AGRICULTURE

Tobacco farmers protest against buyer

THERE was mayhem at Agribank Mvurwi and Voedesel Tobacco Company on Wednesday afternoon after tobacco farmers failed to access their hard-earned money supposedly transferred into their bank accounts b...

By Staff reporter | Published: 14 June 2019

INDUSTRIALS & ENERGY

Government retires Ziscosteel board

DEFUNCT steel manufacturer, Ziscosteel, is set to get a new board of directors after Government retired the entire old board that had been in office for more than a decade. Industry and Commerce Minis...

By Staff reporter | Published: 14 June 2019

BUSINESS NEWS

Pension payouts delayed as foreign company cuts off Zimbabwe banks

PENSIONERS might have to wait a bit longer before they receive their monthly pay outs, which were due yesterday, the National Social Security Authority (NSSA), said yesterday. It said the delay was ca...

By Staff reporter | Published: 14 June 2019

TRANSPORT & TOURISM

African Sun says business booming

LISTED hospitality group, African Sun (Pvt) Limited, says its business has been growing since last year in response to positive business sentiment under the new dispensation.  The group was estab...

By Staff reporter | Published: 14 June 2019

POLITICS

Mnangagwa engages Capitalk FM listeners live

HARARE's prime talk radio station, Capitalk 100.4FM, is set to host its first live interview with President Mnangagwa today, with various issues confronting the economy such as price increases and cur...

By Staff reporter | Published: 14 June 2019

TRANSPORT & TOURISM

NRZ eyes regional markets for turnaround

GOVERNMENT plans to improve the interconnectivity of the National Railways of Zimbabwe with other countries in the region to improve the parastatal's market share and revenue, a Cabinet Minister said ...

By Staff reporter | Published: 14 June 2019

BUSINESS NEWS

Zimpapers introduces home delivery

Zimpapers has launched a dial-a-number concept aimed at delivering newspapers to its customers at their homes in Harare and Bulawayo during weekends. Zimpapers circulation manager Mrs Liz Mushonga yes...

By Staff reporter | Published: 14 June 2019

POLITICS

Mnangagwa prepares for ruthless demos crackdown

AFTER subjecting more than a thousand regular police officers to paramilitary training, purchasing an assortment of weapons, including AK assault rifles and sniper rifles, government has moved to acqu...

By Staff reporter | Published: 14 June 2019
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