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TELECOMS & TECHNOLOGY

Potraz unveils spectrum plan

THE Postal and Telecommunications Regulatory Authority of Zimbabwe has released the Zimbabwe National Frequency Allocation Plan draft which will indicate the extent of frequency resources that will b...

By Staff reporter | Published: 11 September 2013

FINANCIAL SERVICES

IDC needs $100m for recapitalisation

The Industrial Development Corporation (IDC) of Zimbabwe says it needs more than $100 million to recapitalise its subsidiaries.The proposed funds are aimed at reviving the corporation's divisions, whi...

By Staff reporter | Published: 10 September 2013

INDUSTRIALS & ENERGY

ZESA writes off debts

Power utility company ZESA has announced a $170 million debt relief for domestic customers and resettled and rural farmers.ZESA says the debt relief to customers was devised after extensive consultati...

By Staff reporter | Published: 10 September 2013

POLITICS

Mugabe names new finance, indigenisation and mining minister

Harare - Zimbabwe President Robert Mugabe named justice minister and top ruling party legal official Patrick Chinamasa as his finance minister on Tuesday as he appointed his cabinet in the wake of a ...

By Reuters | Published: 10 September 2013

ZIMBABWE

ZSE weekly review

The bearish sentiment that has been well established post the election has now dissipated as bargain hunters entered the market in the just ended week. The industrial index was little changed at 181.7...

By Imara Edwards | Published: 10 September 2013

AFRICA BUSINESS

Spar Group to set-up operations in Angola

Angola - South African-based Spar Group has announced that it will join forces with an Angolan company to open a store in the country's capital, Luanda, within the next six months.Spar Group finance d...

By Staff reporter | Published: 10 September 2013

TRANSPORT & TOURISM

RTG in bid to boost domestic tourism

ZSE-listed Rainbow Tourism Group yesterday scored a first in the hotel industry when it launched a new package, Stay now, pay later that allows individuals and organisations to book into the hotel gr...

By Staff reporter | Published: 10 September 2013

MINING & RETAIL

Bindura Nickel Corp targets profitability

BINDURA Nickel Corporation is projecting to attain a cash positive position by the end of next month after overcoming its immediate funding requirements.The projection is contained in the firm's finan...

By Business reporter | Published: 10 September 2013

ZSE TODAY

ZSE gains for the 3rd straight session

ZSE shares recorded gains for the 3rd consecutive session amid improving volumes across the board as most investors choose to play it safe.The Industrials Index gained another 1.07 points or 0.58% to ...

By Staff reporter | Published: 10 September 2013

LATEST PUBLISHED REPORTS

FML | Unaudited results and presentation for HY ended 30 Jun 13

Financial Highlights:- Total income: $ 53 698 147- Total expenditure: $ (48 204 513)- Profit before tax: $ 3 521 955- Profit for the period: $ 2 426 121- Dividend: Nil- Total comprehensive income for...

By FML | Published: 10 September 2013

LATEST PUBLISHED REPORTS

ZPI | Unaudited results for HY ended 30 Jun 13

Financial Highlights:- Revenue: $ 3 508 131- Operating profit: $ 1 599 671- Profit before tax for the period: $ 1 661 804- Profit after tax for the period: $ 1 126 067- Dividend: Nil- Total comprehens...

By ZPI | Published: 10 September 2013

LATEST PUBLISHED REPORTS

PEAR | Unaudited results and presentation for HY ended 30 Jun 13

Financial Highlights:- Revenue: $ 4 509 333- Net property income: $ 3 860 896- Net property income after administration expenses: $ 2 021 006- Operating profit before tax: $ 2 398 664- Profit before ...

By PEAR | Published: 10 September 2013

OPINION

Zimbabwe entrepreneurs of note

Of course, the Zimbabwe Entrepreneurial history has got some very good case studies of Zimbaweans now in their prime who took their chances.We probably all know of Strive Masiyiwa and the telecoms beh...

By Staff reporter | Published: 10 September 2013

CONSTRUCTION & PROPERTY

Zimre rental income contribution reduce significantly

Zimre Property Investment (ZPI) released a lukewarm set of numbers showing a 25% growth in revenue to $3.5m from $2.8m. Rental income contribution reduced significantly from a high of 70% in December ...

By Staff reporter | Published: 10 September 2013

FINANCIAL SERVICES

First Mutual release a mixed set of numbers

First Mutual Holdings Limited (FMHL) released a mixed set of numbers indicating a 16% jump in gross premium written to $52m from $45m in the prior period. The biggest contribution to revenue came fro...

By Staff reporter | Published: 10 September 2013

FINANCIAL SERVICES

Zimbabwe banks poorly ranked

Zimbabwean banks have been ranked among the worst financial institutions in the world due to low capitalisation levels and systemic risks inherent in the economy.According to the World Economic Forum ...

By Staff reporter | Published: 10 September 2013

BUSINESS NEWS

Farmers resist Zesa pre-paid meters

Zesa Holdings has started installing prepaid meters in farming areas, a move which has seen many farmers complaining. The utility contracted another company, Finmark, to carry out the installations. F...

By Staff reporter | Published: 10 September 2013

TRANSPORT & TOURISM

Emirates appoints new commercial operations chief

HARARE - Orhan Abbas, whose career spans 15 years within commercial roles at Emirates, has been appointed Senior Vice President, Commercial Operations, Latin America, Central and Southern Africa.Orhan...

By Staff reporter | Published: 10 September 2013

FINANCIAL SERVICES

Imara, Mondise Capital launch joint venture

Johannesburg-based investment holding company, Mondise Capital and the pan-African Imara financial services group today (Tuesday, September 10) announced the formation of a joint venture, Imara Mondis...

By Staff reporter | Published: 10 September 2013

POLITICS

Police ban ZCTU march

Police in Harare have banned a planned march against violation of workers' rights in Zimbabwe.Zimbabwe Congress of Trade Unions (ZCTU), the country's largest labour union, wanted to mark the September...

By Staff reporter | Published: 10 September 2013

AFRICA BUSINESS

SA's current account deficit shock

Pretoria - South Africa's current account deficit widened more than expected to 6.5% of GDP in the second quarter of 2013 from 5.8% in the first quarter as the trade gap rose substantially, the Reser...

By Reuters | Published: 10 September 2013

CONSTRUCTION & PROPERTY

Pearl records a 22.2% rise in half year profit

ZSE-listed concern Pearl Properties' profit for the six months to June was up 22,2% to $ 1,9 million driven by growth in net property income, the company has announced.Basic earnings per share rose t...

By Business reporter | Published: 10 September 2013

BUSINESS NEWS

Stanchart earnings decline

STANDARD Chartered Bank of Zimbabwe Limited profit for the six months to June has narrowed to $7,2 million compared with $8 million over the same period last year due to growth in operating expenses.D...

By Business reporter | Published: 10 September 2013

BUSINESS NEWS

Zesa engages Mugabe over bills

Zesa Holdings has reportedly engaged President Mugabe's office over the proposed scrapping of electricity bills, arguing the move would be disastrous. Sources said yesterday that the utility's top ...

By Staff reporter | Published: 10 September 2013

MINING & RETAIL

Zimasco accused of favouritism

Small-scale miners have accused top management at the chrome mining giant, Zimasco, of pushing them out of business by awarding lucrative contracts to large-scale miners. The miners said Zimasco rece...

By Business reporter | Published: 10 September 2013

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