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INDUSTRIALS & ENERGY

Meikles, ZSE talks collapse

Meikles Limited (Meikles) says it is proceeding with its $50 million lawsuit against the Zimbabwe Stock Exchange (ZSE) after talks of reconciliation between the two parties reached a deadlock.In an up...

By Staff reporter | Published: 21 June 2015

FINANCIAL SERVICES

Washaya appointed NMB chief exec

Benefit Washaya has been appointed as the substantive chief executive of listed financial services group NMB Zimbabwe Holdings.Washaya, whose appointment is effective from April 1, 2015, has been runn...

By Staff reporter | Published: 21 June 2015

TRANSPORT & TOURISM

Malawian Airlines targets Victoria Falls

Malawian Airlines plans to capitalise on the southern African region's thriving tourism sector by introducing a connecting flight between Lake Malawi and Victoria Falls.Civil Aviation Authority of Zim...

By Staff reporter | Published: 21 June 2015

MINING & RETAIL

Gold production up 20%

Zimbabwe's gold production went up by nearly 20 percent from 926,79 kg in January 2014 to 1 111,62 kg in January this year, statistics from the Africa Development Bank (AfDB) shows.In its monthly econ...

By Staff reporter | Published: 21 June 2015

ZIMBABWE

'Zim can reduce trade deficit with SA'

Zimbabwe has the capacity to turn around its $2,2 billion trade deficit with South Africa if the country starts producing more goods, economic analysts say.This comes after President Robert Mugabe on ...

By Staff reporter | Published: 21 June 2015

LANDS & AGRICULTURE

Tobacco sales down 27%

Zimbabwe's tobacco sales have declined by 27 percent to $60 million since the opening of the 2015 selling season last month compared to $81 million recorded in the same period last year due to lower p...

By Staff reporter | Published: 21 June 2015

BUSINESS NEWS

Zim business pursues SA opportunities

A Zimbabwean business delegation is today expected to meet with counterparts from South Africa at a forum to be held in Pretoria to explore trade and investment opportunities.The delegation is part of...

By Staff reporter | Published: 21 June 2015

FINANCIAL SERVICES

Tetrad faces liquidation?

Tetrad Investment Bank's future hangs in the balance as creditors and depositors meet for the last time today in the capital to decide the troubled financial institution's fate.At the last meeting hel...

By Staff reporter | Published: 21 June 2015

LANDS & AGRICULTURE

China remains Zim's largest tobacco buyer

China continues to dominate the country's tobacco exports after the Asian country snapped up 19,4 million kilogrammes (kg) worth $167,6 million out of $218 million earned by Zimbabwe so far.Statistics...

By Staff reporter | Published: 21 June 2015

FINANCIAL SERVICES

Banker Mukupe turns to politics

Collapsed Allied Financial Holdings (AFH) former chief executive Terence Mukupe has turned to politics and is eyeing the Harare East parliamentary seat under the Zanu PF ticket.Mukupe is expected to l...

By Staff reporter | Published: 21 June 2015

MINING & RETAIL

Premier African's tungsten project on course

Premier African Minerals (Premier) says it remains on course to start its first tungsten production in Zimbabwe by June this year.George Roach, Premier chief executive, said the mining firm has starte...

By Staff reporter | Published: 21 June 2015

INDUSTRIALS & ENERGY

'Manufacturing industry bleeding to death,' says RBZ

Zimbabwe's manufacturing industry is bleeding to death after the sector contracted by a negative 4,9 percent in 2014, latest statistics from the central bank show.In its quarterly economic report rele...

By Staff reporter | Published: 21 June 2015

BUSINESS NEWS

Zim firms lose $100m to stress, mental health

Zimbabwean companies are losing over $100 million annually in wages and productivity through mental health or stress related absence from work, a latest survey has shown.Industrial Psychology Consulta...

By staff reporter | Published: 21 June 2015

TRANSPORT & TOURISM

Asian tourist arrivals decline 19%

Asian tourist arrivals to Zimbabwe has declined by 19 percent to 42 798 in 2014 from 52 959 recorded in 2013 despite the country's aggressive Look East policy, latest tourism statistics show.Figures r...

By Staff reporter | Published: 21 June 2015

MINING & RETAIL

Hwange to get new coal concessions

Hwange Colliery Company Limited (HCCL) is set to acquire new coal concessions in a move aimed at increasing the life-span of the group's mines and attract new investment.HCCL chairman Farai Mutamangir...

By Staff reporter | Published: 21 June 2015

MINING & RETAIL

Blanket's gold production declines

Blanket Mine (Blanket) gold production declined to 41 771 ounces in 2014 from 45 527 ounces registered in 2013 due to lower head grade.Steve Curtis, chief executive of Caledonia Mining Corporation (Ca...

By Staff reporter | Published: 07 June 2015

INDUSTRIALS & ENERGY

Zimplow to dispose more non-core assets

Zimbabwe Stock Exchange-listed agro-industrial concern, Zimplow, is set to dispose more non-core assets in the coming year as the group seeks to restructure debts and focus on its primary business.Gro...

By Staff reporter | Published: 07 June 2015

TRANSPORT & TOURISM

Munyeza resigns, as Brainworks plans ASL takeover

African Sun Limited (ASL) chief executive Shingi Munyeza has resigned with immediate effect, as private equity firm Brainworks Capital Management (BCM) plans a total takeover of the listed hospitality...

By Staff reporter | Published: 07 June 2015

FINANCIAL SERVICES

Stanchart to review operations

Standard Chartered Bank Zimbabwe Limited (Stanchart) is embarking on a restructuring exercise in line with its parent company's - Standard Chartered Plc - review of its global branch network.Samuel Ru...

By Staff reporter | Published: 07 June 2015

CONSTRUCTION & PROPERTY

Masimba unbundles, courts foreign investor

Construction firm Masimba Holdings Limited (Masimba) is seeking regulatory approval to unbundle its contracting and manufacturing businesses into two separately listed companies.Greg Sebborn, Masimba ...

By Staff reporter | Published: 07 June 2015

FINANCIAL SERVICES

NMBZ registers $1,6m profit

Zimbabwe Stock Exchange-listed NMB Zimbabwe Holdings (NMBZ) has registered a $1,6 million profit after tax in the full year to December 31, 2014, up from a loss of $3,3 million recorded in 2013.Tendai...

By Staff reporter | Published: 07 June 2015

BUSINESS NEWS

Zim to list struggling parastatals

Zimbabwe is planning to list its struggling parastatals on the stock exchange in an effort to raise capital and unlock value, Finance minister Patrick Chinamasa has said.Chinamasa said parastatals wer...

By Staff reporter | Published: 07 June 2015

BUSINESS NEWS

Graca Machel launches businesswomen network in Zim

Late South Africa's first black President Nelson Mandela's widow Graca Machel was in Zimbabwe last week to launch the Network of African Business Women (NABW).She said Zimbabwean women must participat...

By Staff reporter | Published: 07 June 2015

TRANSPORT & TOURISM

Technical services boost Air Zimbabwe revenue

National airline Air Zimbabwe (AirZim) has so far realised nearly $40 000 from commercialising its technical and engineering services.AirZim acting chief executive, Edmund Makona, said after investing...

By Staff reporter | Published: 07 June 2015

FINANCIAL SERVICES

ZB targets profitability in 2015

ZB Financial Holdings (ZB), one of the big banking institutions with a strong asset base in the country, is aiming a return to profitability this year through reduced overheads and product innovation....

By Staff reporter | Published: 07 June 2015

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