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TRANSPORT & TOURISM

Controversy rocks NRZ tender

EYEBROWS have been raised over the experience and capacity of Diaspora Infrastructure Development Group (Pvt) Ltd (DIDG), which is partnering South Africa's Transnet in a joint bid for the National Ra...

By Staff reporter | Published: 22 July 2017

BUSINESS NEWS

Drug-resistant HIV strain hits Zim

Two out of 30 HIV-positive people on anti-retroviral therapy (ART) in Zimbabwe have shown signs of resistance to commonly used and most affordable drugs Efavirenz and Nevirapine, the World Health Orga...

By Staff reporter | Published: 22 July 2017

ZIMBABWE

Zim budget overrun sours to $900 million

The government had a budget overrun of a whopping $902,2 million by the end of 2016 on the back of huge employment costs and agriculture recovery that were largely unplanned for in the annual budget.P...

By Staff reporter | Published: 22 July 2017

MINING & RETAIL

Gold production target reviewed

THE government has revised downwards its gold production target of 28 tonnes to 24,5 tonnes for this year due to loss of production in January and February largely as a result of heavy rains that floo...

By Staff reporter | Published: 22 July 2017

ZIMBABWE

Zimbabwean stocks on 4-year high

Zimbabwean stocks closed on a four-year high on Friday, as investors continued to pile into the equities market amid limited investment options and currency concerns.By the close of trade, the Zimbabw...

By Staff reporter | Published: 21 July 2017

TELECOMS & TECHNOLOGY

Borrowdale telephone numbers to change

The country's sole fixed telephone operator, TelOne is currently in the process of digitalizing its network, in a move that will unlock new capacity as well as introduce more technologies and increase...

By Ngoni Shenjere | Published: 21 July 2017

ZSE TODAY

Market Commentary 21 July 2017

INDUSTRIALSThe Industrial Index went past the 200 point mark for the first time since 10 September 2014 after putting on 0.70 points (0.35%) to close at 200.04 points. SEEDCO (SEED.zw) led the movers ...

By zse | Published: 21 July 2017

FINANCIAL SERVICES

Zim banking sector growth to slow down

Zimbabwe's financial sector growth is anticipated to slow down to 1,7 percent after bankers smiled all the way to the bank and recorded a 42 percent profit surge last year, data from the World Bank sh...

By Staff reporter | Published: 21 July 2017

ZIMBABWE

Mugabe's govt continue with reckless spending

GOVERNMENT is continuing with its reckless spending spree - with President Robert Mugabe's office leading the way, overspending by US$43 million - as its unsustainable budget deficit scaled almost US$...

By Staff reporter | Published: 21 July 2017

POLITICS

Mystery shrouds Mugabe accident

Mystery surrounds the car which was involved in a horrific accident with a biker who was leading President Robert Mugabe's motorcade last Saturday.On Saturday, one of the bikers leading the motorcade ...

By Staff reporter | Published: 21 July 2017

POLITICS

Zimbabwe cops training to smile at roadblocks

Zimbabwe is conducting a training programme for police officers to smile more habitually at roadblocks in the hopes of winning over tourists visiting the country's holiday resorts.Home Affairs deputy...

By Staff reporter | Published: 21 July 2017

POLITICS

BMI warns of violence over Mugabe succession

Not for the first time, Zimbabwe has been warned that President Robert Mugabe's failure to resolve the succession issue could plunge the country into bloodletting violence.This comes as much-needed fo...

By Staff reporter | Published: 21 July 2017

BUSINESS NEWS

Crippling power cuts looming

Zimbabwe's power imports for the first quarter of 2017 went up by about 10 percent as local production slumped 23 percent, a development that local energy experts anticipate to result in load shedding...

By Staff reporter | Published: 21 July 2017

FINANCIAL SERVICES

CBZ appoints Board Chairman

The board announces the appointment of Mr. Noah Manomano Matimba as Chairman of CBZ Holdings Board with effect from 18 July 2017. Matimba, an accountant by training, holds amongst other qualifications...

By Ngoni Shenjere | Published: 21 July 2017

TRANSPORT & TOURISM

NRZ suitor offers $2.5bn bid

ONE of the bidders for the National Railways of Zimbabwe (NRZ) recapitalisation programme has pledged to secure up to $2.5 billion towards turning around the parastatal.NRZ board chairman, Mr Larry Ma...

By Staff reporter | Published: 21 July 2017

BUSINESS NEWS

Cabinet moves to plug financial leakages

BEING conduits for most financial transactions, governments closely watch banks and bank executives who are normally used as mules in illicit financial flows.By their nature, illicit financial flows t...

By Staff reporter | Published: 21 July 2017

BUSINESS NEWS

Govt to take over NRZ, CAAZ debts

THE Government plans to assume debts owed by the National Railways of Zimbabwe (NRZ) and the Civil Aviation Authority (CAAZ) to improve their attractiveness to potential investors, a Cabinet Minister...

By Staff reporter | Published: 21 July 2017

MINING & RETAIL

Mineral exports exceed $1bn mark

ZIMBABWE'S total mineral export earnings in the first half of the year have exceeded the $1 billion mark as Government and miners move to grow the sector from a $2 billion to a $3 billion a year expo...

By Staff reporter | Published: 21 July 2017

BUSINESS NEWS

US ivory ban lift buoys safari sector

THE Safari Operators Association of Zimbabwe (SOAZ) sees a 30% growth in revenue following the lifting of an ivory ban by the United States, businessdigest reported.The US Fish and Wildlife Service (U...

By Staff reporter | Published: 21 July 2017

ECONOMC INDICATORS

Zim inflation to hit 7% by Dec, says IMF

A 200% increase in money supply between December 2015 and May 2017 is unsustainable and could stoke inflationary pressures in the economy, the IMF has warned.IMF mission chief for Zimbabwe Gene Leon ...

By Staff reporter | Published: 21 July 2017

BUSINESS NEWS

Companies retrench 160 more

EIGHT companies registered their agreements to lay-off workers with the Retrenchment Board earlier this month, affecting at least 160 employees, businessdigest reported.This adds to the 817 workers w...

By Staff reporter | Published: 21 July 2017

INDUSTRIALS & ENERGY

Tycoons in nasty CFI control battle

When Zimre Holdings Ltd (ZHL)'s Stalap Investments announced its offer to buy out CFI minorities last Friday, an all-out war between British tycoon Nicholas Van Hoogstraten and the Rudland brothers - ...

By Staff reporter | Published: 21 July 2017

ECONOMC INDICATORS

Zimbabwe's budget deficit rose to $1.4 billion

Zimbabwe's budget deficit rose to $1.4 billion, or 10 percent of national output, in 2016, worse than previously revised estimates, the country's finance minister said.The shortfall arose from unbudge...

By Reuters | Published: 20 July 2017

BUSINESS NEWS

Zim civil servants will not get salary increase

The government will be maintaining a salary freeze to create room for mobilising funding for key projects in light of the budgetary constraints affecting the economy.This was revealed by the Minister ...

By Staff reporter | Published: 20 July 2017

ECONOMC INDICATORS

Zimbabwe annual budget review and outlook

The Zimbabwean economy is expected to register significant growth of 3.7% this year, underpinned by strong performance in agriculture of 21.3%, mining 5.1% and electricity and water 2.5%, Finance a...

By Staff reporter | Published: 20 July 2017

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