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BUSINESS NEWS

Telecel sponsors Director of the Year Awards

Telecel Red is the platinum sponsor for the 2012 Director of the Year Awards ceremony, which takes place on Friday (May 31) at Rainbow Towers.The Director of the Year awards are presented by the Inst...

By Chengetai Chinembiri | Published: 10 June 2013

BUSINESS NEWS

New AirZim Airbus grounded in SA

Air Zimbabwe's new Airbus A320 aircraft, which made its maiden flight to Johannesburg on Monday has been temporarily grounded in South Africa after a bird struck and cracked its windscreen.Senior Ai...

By Staff Reporter | Published: 10 June 2013

BUSINESS NEWS

Zimplats preferred ZSE listing to indigenisation

Zimplats expressed the group's interest to list on the ZSE thus localizing the firm through the bourse so that ordinary Zimbabweans may get the chance to participate, CEO Alexander Mhembere told an ...

By Business reporter | Published: 10 June 2013

ZSE TODAY

ZSE: Innscor see-saws lower as Industrials slips into the red

Innscor shares see-sawed back into the red on Wednesday as Industrials slid back into the negative territory while volumes improved sightly buoyed by a block deal in Pearl Properties.The Industrial I...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Zimbabwe needs to up its platinum output first to set up refinery

Platinum producers will need a minimum production rate of 500 000pt ounces per year if  the country is to set up a platinum refinery, Zimplats CE Alex Mhembere has said.Mhembere told analysts i...

By financial express | Published: 10 June 2013

MINING & RETAIL

Edgars on course to meet $65 million turnover

EDGARS  Stores Limited  is  on  course  to achieve  turnover  of above $65 million by year  end,  following  a  4.8% increase in sales  uni...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

CASE 2013 Handbook to be launched tonight

The launch of the 2013 edition of the CASE Handbook will take place tonight, with the sponsors FBC Holdings planning a glitzy function at which invited guests have the chance of winning two Business ...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

African Development Corporation initiates BancABC takeover offer

African Development Corporation announced that the management and the Supervisory Board resolved to engage in pooling agreements with aligned investors in ABC Holdings Limited, Botswana (BancABC) and...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Economic development for Rhodesia

With the rapid development of the Rhodesian economy, despite sanctions. the need to involve black Rhodesians more closely became paramount, so that they could form an integral part of this developmen...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Steelnet placed under final liquidation

STEELNET Zimbabwe has been placed under final liquidation and the liquidator has invited tenders from interested parties to purchase operating assets.Steelnet liquidator Mr Christopher Maswi of Fair...

By Mafu sithabile | Published: 10 June 2013

FINANCIAL SERVICES

AfrAsia Kingdom targets $50 million capitalisation

AfrAsia Kingdom Zimbabwe Limited has embarked on initiatives to strengthen the group's businesses in response to regulatory requirements for additional capital and in preparation of an expected econo...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Business groups back new BEE regulations

Local business groups and the country's consumer watchdog have backed the recently announced statutory instrument barring foreign investors from setting up business with low capital outlays. Nearly a...

By Business reporter | Published: 10 June 2013

ZIMBABWE

Zimbabwe economic growth rate to quicken, says AFDB

Zimbabwe's real Gross Domestic Product is expected to improve marginally this year from a dip in 2012 on the back of improvements in mining and agriculture, according  to a new report released ...

By Business reporter | Published: 10 June 2013

ZIMBABWE

Zimbabwe govt misses revenue targets

Zimbabwe missed revenue targets for April by 7.3% as the economy shows signs of stagnation due to the poor performance across sectors. Finance Minister Tendai Biti yesterday said, in a State of the ...

By Staff reporter | Published: 10 June 2013

ZIMBABWE

SA institutions re-rating Zimbabwe, say Imara conference organisers

South African institutions are fast re-rating the Zimbabwe equity market, judging by their positive response to the upcoming Imara investor conference in Harare.Conference organisers expect the bigge...

By Business reporter | Published: 10 June 2013

ZSE TODAY

Masimba Holdings continues to firm as ZSE rebounds

Masimba Holdings performance in the year to date rose to 183.33% on Tuesday as the company continued to firm towards the $20 million market capitalisation mark with the price getting closer to its NA...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Supreme Court reserves judgment in Remo case

The Supreme Court yesterday reserved judgment in the case where Remo Investment Brokers were appealing against an earlier judgment to have their licence cancelled. According to its argument deposed ...

By Business reporter | Published: 10 June 2013

ZIMBABWE

ZSE goes electronic

THE Zimbabwe Stock Exchange will from next week discontinue the manually prepared reports dispatched through its e-mail daily service following the launch of its web data portal system. Acting ZSE ch...

By Business Reporter | Published: 10 June 2013

BUSINESS NEWS

Businesses are unsure of what to do due to unclear election dates

FINANCE Minister Tendai Biti yesterday said most businesses have adopted a wait-and-see attitude due to uncertainty over election dates.Biti said this while addressing the media on the state of the e...

By Staff Reporter | Published: 10 June 2013

CONSTRUCTION & PROPERTY

Pearl Properties occupancy ratios below budget

Pearl Properties missed the occupancy target  for the first 4 months of 2013 achieving 78.87% against a projection of 83.26%, group MD Francis Nyambiri told the AGM this morning. "We were t...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

BAT volumes down 16% following increase in excise duty

BAT volumes are down 16% following the increase in prices after Treasury raised excise duty on cigarettes, MD Lovemore Manatsa has said. Manatsa told the AGM that owing to the liquidity challenges t...

By financial express | Published: 10 June 2013

AFRICA BUSINESS

Emirates Resumes Services to Libya

HARARE - Emirates will restart passenger flights to Tripoli from 1st September 2013, illustrating Libya's importance in Emirates' global network and the airline's commitment to the country. Emirates'...

By Ndou Paul | Published: 10 June 2013

ZIMBABWE

Tendai Biti sticks to cash-budgeting as inflows remain critical

Zimbabwe's minstry of finance will continue cash- budgeting as revenue inflows remain severely depressed due to poor economic performance, a senior government official said Monday.Acting permanent s...

By Agencies | Published: 10 June 2013

BUSINESS NEWS

Zimbabwe real estate market snapshot 2013

Office MarketThe take-up of office space has been poor as a result of the depressed economic climate in Zimbabwe. Occupiers are struggling to meet rent and service charges, and the levels of arrears...

By Knight Frank | Published: 10 June 2013

BUSINESS NEWS

New Air Zimbabwe Airbus in maiden Jo'burg flight

AIR ZIMBABWE yesterday introduced the new 150-seater Airbus A320 on the Harare-Johannesburg route as it seeks to regain its lost market share on the route, which it re-established late last year.The...

By Business Reporter | Published: 10 June 2013

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