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ZIMBABWE

Zimbabwe not yet ready to have its own currency, says Gono

RBZ governor Gideon Gono says Zimbabwe is not yet ready to have its own currency adding the country had to first address its burgeoning trade deficit.Gono said Zimbabwe remained heavily-dependent o...

By Staff reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Batoka power plant to turn Zim into a net exporter of electricity

THE Zambezi River Authority has shortlisted six international investors for the construction of the 1 600-megawatt hydropower plant at the Batoka Gorge, a senior Government official has said."Initi...

By Staff reporter | Published: 10 June 2013

ZSE TODAY

ZSE shares rebound as turnover rises to $3.2 million

ZSE shares registered their first gains for the month of April on Wednesday following remarkable gains in Innscor, Natfoods and Hwange which managed to cancel out losses in Barclays, CBZ and Econet....

By Business reporter | Published: 10 June 2013

OPINION

Why the Zimbabwean economy has been growing faster than Hong Kong

NORTH Carolina economist Craig Richardson has said Zimbabwe's rapid gross domestic product (GDP) growth and poor business environment appear to be a paradox, and the rate of increase is due to unsus...

By Staff reporter | Published: 10 June 2013

ZIMBABWE

Zimbabwe's economic recovery hazy, warns Gono

The Reserve Bank of Zimbabwe (RBZ) has that the economy's full recovery remains hazy as long as the country continues to rely on imports of finished products.Addressing the media after the central'...

By Staff reporter | Published: 10 June 2013

MIDDLE EAST

Brighter idea wanted for 'A Greener Tomorrow' with Emirates

Emirates opens submission ideas for the 'A Greener Tomorrow' initiativeHARARE, ZIMBABWE -  Emirates announced today its 'A Greener Tomorrow' initiative and has allocated funds of US$150,000 to...

By Ndou Paul | Published: 10 June 2013

MINING & RETAIL

Blanket Mine to increase production

BLANKET Mine, which is partly owned by Caledonia, targets to increase annual gold output by 90 percent to 76 000 ounces (oz) in 2016 following the implementation of its indigenisation plan last year...

By Business reporter | Published: 10 June 2013

PEOPLE MOVES

Kingdom Bank boss steps down

Kingdom Bank Limited's managing director, Mr Francoise Molife, has resigned.In a statement released yesterday, AfrAsia Kingdom Limited announced the departure of Mr Molife from the bank to pursue pe...

By Business Reporter | Published: 10 June 2013

BUSINESS NEWS

Gono speaks on gold coins he was accused of stealing from bank's vaults

Central Bank Governor Gideon Gono on Tuesday displayed the gold coins which he was alleged to have stolen from the bank's vaults to refute the allegations.Addressing journalists, Dr Gono said the a...

By Staff Reporter | Published: 10 June 2013

BUSINESS NEWS

RBZ parades Zimbabwe's historic gold coins

THE board of the Reserve Bank of Zimbabwe (RBZ) has denied claims that historic gold coins had gone missing.The allegations, first made by Munyaradzi Kereke, the former adviser to Reserve Bank gover...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Zimbabwe improves on raw milk production

Raw milk production in Zimbabwe increased slightly in the first two months of the year compared to the same period last year as most farmers intensified operations while new ones joined the industry...

By Staff reporter | Published: 10 June 2013

ZSE TODAY

ZSE shares falter after Easter holidays

ZSE shares faltered after Easter holidays in mixed trades across the board as most heavily capitalised counters remained unchanged from previous levels.The volume of shares traded on the market toda...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

NMB prioritises attaining minimum capital and raising more lines of credit

NMBZ will be focusing on attaining the $50 million capital threshold as its medium term target, group CEO James Mushore told an analyst briefing on Thursday. "Our medium term anchor is on ensur...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Barclays Zimbabwe maintains conservative book

Barclays Chief Executive (CE) George Guvamatanga started his presentation last Thursday by emphasising that the bank considers itself a local bank. He drew parallels with foreigners who live in a c...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Aquiva Wireless to roll out 4G technology

Harare-based internet access provider Aquiva Wireless says it plans to roll out a new standard for wireless data communications technology that will push forward the growth of the country's telecomm...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Hwange working on improving area for businesses

The Hwange Local Board says it is working on establishing a civic centre to reduce the cost of using rented offices and speeding up development in the mining town.Hwange Local Board Chief Executive ...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Murowa Diamonds criticises govt mining policies

MUROWA Diamonds, a unit of global mining giant RioTinto, has blasted government mining policies saying they were not supportive of the mining sector, warning that the current regime of ground rental...

By Staff Reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

PowerTel is set to introduce a new billing system

INTERNET provider PowerTel is set to introduce a new billing system after acquiring new state-of-the art billing equipment, an official said over the weekend.PowerTel chairman Mr Francis Chirimuuta ...

By Staff Reporter | Published: 10 June 2013

PEOPLE MOVES

Telecel boss 'Mawindi' resigns

Telecel Zimbabwe boss Mr Francis Mawindi has resigned hardly a year after he was appointed chief executive officer of the mobile telecommunications company.In a statement, board chairman Mr James Ma...

By Staff Reporter | Published: 10 June 2013

ZIMBABWE

Government wants informal sector to contribute in taxes

Government says there is a need to come up with a database of the informal industry so that it can contribute to national development through paying tax. While there are no official statistics on th...

By Mafu Sithabile | Published: 10 June 2013

BUSINESS NEWS

Banks cutting interest rates, says Gono

Central Bank Governor Gideon Gono said some lenders are cutting interest rates and bank charges to comply with an agreement signed in January."It is heartening to note that some banks have already s...

By Bloomberg | Published: 10 June 2013

EUROPE

Facebook founder Mark Zuckerberg to pay $1.1 billion tax for 2012

Facebook founder Mark Zuckerberg is on the hook for a $1.1 billion tax bill for 2012, the result of his company’s going public last year.That decision gave Zuckerberg, the company’s CEO, a $13 b...

By Staff Reporter | Published: 10 June 2013

MINING & RETAIL

Zimplats lodges objection to compulsory land acquisition

Implats has confirmed that its subsidiary, Zimbabwe Platinum Mines (Private) Limited (Zimplats) lodged an objection on 27 March 2013 to the Preliminary Notice published in General Notice 123 of 2013...

By Business reporter | Published: 10 June 2013

CAREERS

Accountants can improve the way they do business

Many accountants could be wasting time and compromising the accuracy of their financial reports by spending too much time collecting data and not enough time analysing the information, according t...

By Business Reporter | Published: 10 June 2013

EUROPE

Cypriots banks reopen with tight controls

Cypriots banks reopen on Thursday with tight controls imposed on transactions to prevent a run on deposits after the government was forced to accept a stringent EU rescue package to prevent the coun...

By Staff Reporter | Published: 10 June 2013

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