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POLITICS

Mugabe averse to austerity

JUST over a week after Finance Minister Patrick Chinamasa talked up government's commitment to austerity, President Robert Mugabe, did not only sing from a different page, but also shredded Treasury's...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Italian firm to complete Batoka feasibility study by Dec

ITALIAN firm, Studio Pietrangeli, has failed to update feasibility studies for the proposed 2 400 megawatt Batoka Gorge Hydroelectric Scheme as scheduled, despite winning the tender for the project fo...

By Staff reporter | Published: 03 August 2017

TRANSPORT & TOURISM

International Airlines rescued from payments backlog

THE Reserve Bank of Zimbabwe (RBZ) has begun allocating foreign currency for remittance of cash from ticket sales by international airlines, which have been failing to repatriate payments due to forei...

By Staff reporter | Published: 03 August 2017

INDUSTRIALS & ENERGY

SecZ piles pressure on Turnall over fraud charge

TURNALL Holdings is studying a complaint by LHG Malta Holdings Limited to regulators over possible contravention of the Securities and Exchange Commission of Zimbabwe (SECZ) Act and the validity of a ...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Vic Falls gets boost from airport expansion

THE expansion of the Victoria Falls International Airport has seen global arrivals increasing by 25 percent in the first half of this year, but industry players say there is need for government to ens...

By Staff reporter | Published: 03 August 2017

LANDS & AGRICULTURE

End of tobacco season to worsen forex crisis

INDUSTRY has expressed fears over an expected worsening of foreign currency shortages in the aftermath of the tobacco selling season, which had mitigated a foreign payments backlog.The tobacco sellin...

By Staff reporter | Published: 03 August 2017

FINANCIAL SERVICES

RBZ sets up fund for dividend repatriation

FOREIGN investors on the Zimbabwe Stock Exchange will soon be able to repatriate dividends and proceeds from equity trades following a central bank plan to establish a portfolio investment fund aimed ...

By Staff reporter | Published: 03 August 2017

FINANCIAL SERVICES

DPC warns against unregistered lenders

The Deposit Protection Corporation (DPC) has warned the public against depositing cash with unregistered microfinance institutions, saying they risked losing their money to dubious entities.Over 100 ...

By Staff reporter | Published: 03 August 2017

LANDS & AGRICULTURE

Tongaat refuse to buy settlers' cane

HUNDREDS of farmers who last year seized 4 400 hectares of sugarcane fields from Tongaat Hulett in Chiredzi are now in a quandary after the agro-industrial giant refused to buy their crop.The farmers,...

By Staff reporter | Published: 03 August 2017

POLITICS

Grace Mugabe guns for VP post

The wife of President Robert Mugabe, Grace, might as well consider running as Zanu-PF's presidential candidate in 2023 if she happens to secure one of the positions of vice president ahead of next yea...

By Staff reporter | Published: 03 August 2017

POLITICS

Chinamasa meets civil servants

Finance and Economic Development Minister Patrick Chinamasa yesterday met civil servants' unions and urged them to take up residential stands being developed by the Infrastructural Development Bank of...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Harare cancels Mushore contract

MDC-T-led Harare City Council has finally terminated the contract of former NMBZ Bank chief executive James Mushore and the former banker will smile all the way to the bank as the municipality owes hi...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

More bond notes coming

THE Reserve Bank of Zimbabwe (RBZ) will soon release $300 million worth of bond notes into the market under a new facility secured from the Africa Export and Import Bank (Afreximbank) to ease the cash...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Zimbabweans to engage SA on foreign quotas

ZIMBABWEAN immigrants based in South Africa are planning to engage South Africa's ruling African National Congress (ANC) party to contest recent proposals by that country's unions to restrict employme...

By Staff reporter | Published: 03 August 2017

MINING & RETAIL

Govt identifies Zisco partner

GOVERNMENT has identified a new investor to revive operations at Zisco after the $750 million deal with an Indian conglomerate, Essar Global collapsed in 2015.Zisco ceased operations in 2008 due to se...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Gwanda mourns prominent businessman

Gwanda residents were yesterday mourning prominent local businessman, Tariro Maphosa, who was gunned down on Monday night in an armed robbery, describing him as a role model.Maphosa was shot three tim...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Zim looks to wind for power generation

The Government is intensifying efforts to harness wind power for the generation of electricity as part of its efforts to promote the use of environmentally friendly energy technologies.According to Mr...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

$600m nostro facility secured

THE Government has secured a $600 million nostro-stabilisation facility from AfreximBank to boost the country's foreign exchange receipts and enhance efficient procurement of key inputs for the produc...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Teachers' union seeks Mugabe intervention over fees

THE Amalgamated Rural Teachers' Union of Zimbabwe (ARTUZ) has urged President Robert Mugabe to direct schools in the countryside to stop chasing away pupils over failure to pay tuition fees.This follo...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Zim records $24bn RTGS H1 transactions

RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya says transactions worth $27.4 billion were made through the Real Time Gross Settlement (RTGS) system in the first six months of this year.In th...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Reserve Bank extends export incentive scheme

THE Reserve Bank of Zimbabwe (RBZ) has extended the bond notes export incentive scheme by $300 million under a standby liquidity support from the AfreximBank.RBZ Governor Dr John Mangudya announced th...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

350 companies back on feet, claims RBZ

AT least 350 companies have been revived countrywide courtesy of Government's policy support measures such as Statutory Instrument 64 of 2016 and the spill-over effects of increased agricultural produ...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Health insurers, medical doctors on scientific tariff

Government, in partnership with health insurers and medical doctors, has embarked on a process to ascertain the actual cost of medical services in Zimbabwe to address the impasse that has existed betw...

By Staff reporter | Published: 03 August 2017

Hwange Colliery partners European firm

COAL miner Hwange Colliery Company Limited has selected a European company to conduct exploration and drilling at its new concession in western and Lubimbi fields in Hwange. Managing director Mr Thoma...

By Staff reporter | Published: 03 August 2017

POLITICS

Mnangagwa dodges succession questions in Parly

VICE-PRESIDENT Emmerson Mnangagwa yesterday skirted questions relating to the recent public attacks directed at him by First Lady Grace Mugabe, where she demanded that President Robert Mugabe should n...

By Staff reporter | Published: 03 August 2017

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