BUSINESS NEWS

'Closure of firms is nationwide,' says Eric Block

DE-INDUSTRIALISATION is affecting the whole country despite the misconception that Bulawayo is the only city being affected by the closure and relocation of firms to other towns, an official has sai...

By Business Reporter | Published: 10 June 2013

BUSINESS NEWS

Gono denies bank takeover

Central bank chief on Wednesday denied there were plans for a government takeover of the local operations of London-based Standard Chartered Bank, putting the central bank at odds with a powerful n...

By Sapa-dpa | Published: 10 June 2013

BUSINESS NEWS

Hwange Colliery suspends over 500 workers over salary dispute

Hwange Colliery Company is alleged to have suspended 525 workers following a salary dispute, among other issues.The employees are accusing management of unfairly dismissing five workers, threatening...

By Staff Reporter | Published: 10 June 2013

OPINION

Biti wrongfully credited with the dollarisation of the Zim economy

Zimbabwe's economic growth since 2009 has been credited to Tendai Biti, the Minister of Finance's adoption of the US dollar and the South African rand as the official currencies, an international ...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

FNB, OK Zimbabwe launches SA-Zim instant cellphone banking

First National Bank launched a cellphone-based instant money transfer service between South Africa and Zimbabwe on Tuesday.   "We have done extensive research into the cross-border remitt...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Zesa fined $400 for failing to pay workers

The Zimbabwe Electricity Supply Authority has been convicted and fined $400 for non-compliance with an agreement it made with its employees.The power utility had been brought to court over a debt of...

By Court Reporter | Published: 10 June 2013

BUSINESS NEWS

More than ten aspiring local airlines fail to take off

GOVERNMENT has issued permits to more than ten aspiring local airlines intending to service domestic routes, but none have taken to the skies due to capital constraints."We have issued permits to a ...

By Business Reporter | Published: 10 June 2013

BUSINESS NEWS

Zim empowerment board threatens to shut down Stanchart Bank

THE Economic empowerment board has threatened to shut down British-owned Standard Chartered bank and three mining companies until they comply with the country's indigenisation laws.According to sta...

By Staff 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

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

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

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

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

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

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

BUSINESS NEWS

Banking sector complies with indigenisation and empowerment regulations

THE banking sector is complying with the country's indigenisation and empowerment regulations, despite spirited efforts from some quarters to discredit the programme.Youth Development, Indigenisatio...

By Staff Reporter | Published: 10 June 2013

BUSINESS NEWS

Barclays Africa executive set to meet Saviour Kasukuwere

A SENIOR Barclays Africa executive is set to jet into the country next week to meet with Indigenisation minister Saviour Kasukuwere to chart the course on how the financial conglomerate's local oper...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Air Zimbabwe to start offering daily flights

CASH-STRAPPED national carrier, Air Zimbabwe will in the next two weeks start offering daily flights to Johannesburg, Harare and Bulawayo when the servicing of one of its two A320 airbuses and an MA...

By Business Reporter | Published: 10 June 2013

BUSINESS NEWS

959 work injuries and 30 deaths in first two months of year

Work-related deaths continue to increase at alarming rate There were 959 serious injuries and 30 deaths at work in the first two months of this year, Acting Labour and Social Services Minister Ther...

By Mike Hamilton / MHPR | Published: 10 June 2013

BUSINESS NEWS

Mujuru orders Chisumbanje Ethanol plant be open by Monday

ACTING President Joice Mujuru yesterday ordered that the Chisumbanje Ethanol plant be open for operations by Monday next week.She said its closure had affected workers, farmers and villagers in the ...

By Staff Reporter | Published: 10 June 2013

POLITICS

Miners urge govt to review mining political administrative boundaries

THE Zimbabwe Miners' Federation has urged Government to review the existing mining political administrative boundaries to ensure that districts where mining activities are taking place benefit direc...

By Staff Reporter | Published: 10 June 2013

BUSINESS NEWS

Samsung cautious on Zimbabwe

Despite targeting a $10 billion growth in Africa by 2015, Samsung Africa Electronics says it will not optimally invest in Zimbabwe due to restrictive legislation which repels investment. James Kim, ...

By Staff reporter | Published: 10 June 2013
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