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ZSE TODAY

ZSE:- Industrials scratches out modest gains at week's end

ZSE's Industrials managed modest gains at week's end as gains in Delta and Innscor outweighed losses in Econet and Hippo while Minings were back in the red on Falgold's lower offer.The Industrials I...

By Business reporter | Published: 10 June 2013

ASIA PACIFIC

World's largest maker of fuel from coal mulls selling Papua New Guinea assets

SASOL, the world's largest maker of fuel from coal, is considering the sale of its gas assets in the island-state of Papua New Guinea."Sasol is considering divesting from Papua New Guinea," Alex An...

By Staff Reporter | Published: 10 June 2013

FINANCIAL SERVICES

Trust Bank to merge with Allied Bank

Trust Bank is in talks with Allied Bank, owned by Mines minister Obert Mpofu, over a potential partnership to enable the 2 financial institutions to meet the RBZ's first minimum capital requirements...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Telecoms tariff hike looms in Zimbabwe

TELECOMMUNICATIONS tariff increases across the board loom after government announced plans to increase licence fees for operators with effect from June this year.Finance minister Tendai Biti announ...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Banks ripping off customers

AS the corporate reporting season for the financial year ended December 31 2012 draws to an end, the spotlight has been firmly focused on Zimbabwe's banks, with analysts saying the recently-publishe...

By Staff reporter | Published: 10 June 2013

LANDS & AGRICULTURE

Dairibord to import at least 250 heifers

DAIRIBORD Zimbabwe is targeting to import at least 250 heifers this year for distribution to farmers as part of efforts to increase milk production in the country.Dairibord introduced the scheme las...

By Staff reporter | Published: 10 June 2013

POLITICS

Telecel leadership squabbles, AAG slams government

The Affirmative Action Group (AGG) has raised concern over failure by government to intervene in the Telecel leadership squabbles and the mobile operator's deliberate disregard of the country's indi...

By Staff reporter | Published: 10 June 2013

ZIMBABWE

No Zim Dollar in the near future, says Mashakada

Minister of Economic Planning and Investment Promotion Dr Tapiwa Mashakada has assured possible investors over continued use of the multi-currency system at least until 2016.Mashakada allayed fears ...

By Business reporter | Published: 10 June 2013

POLITICS

Zimbabwe is not a Chinese colony, says Chimanikire

Zimbabwe is not being colonised by the Chinese as many would like to believe, deputy mines minister Gift Chimanikire told a Zimbabwe investment conference in Boksburg South Africa."The Chinese came ...

By Staff reporter | Published: 10 June 2013

ZSE TODAY

ZSE:- Industrials advances on gains in selected heavyweights

Industrials stayed in the positive territory on Thursday sustained by gains in selected heavyweights while inactivity in the resources sector saw the Minings Index dosing unchanged.The Industrials i...

By Business reporter | Published: 10 June 2013

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

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