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ASIA PACIFIC

Rudd win ‘may lift confidence’, economists and investors say

SYDNEY - Kevin Rudd's victory as leader of Australia's governing Labor Party may boost consumer and company confidence before an election that could be held as early as August, according to investors,...

By Adam Haigh | Published: 30 June 2013

EUROPE

Crisis in UK ‘worse than previously believed’

LONDON - Britain suffered a much deeper recession in 2008-09 than first thought and the economy remains further from recovering its pre-crisis size, according to sweeping revisions to official data.Re...

By Sarah O’Connor and Claire Jones | Published: 30 June 2013

AFRICA NEWS

Obama to unveil broad African electrical power initiative

POINTING to Africa’s crippling lack of electrical power, US President Barack Obama was due to announce on Sunday a $7bn initiative over five years to double access to power in sub-Saharan Africa."We...

By Mark Felsenthal and Jeff Mason | Published: 30 June 2013

MINING & RETAIL

Edgars to open 3 Jet outlets

Listed clothing retailer Edgars Stores Limited (Edgars) plans to open three new outlets of its budget shop - Jet Stores (Jet).The group began trading under the South African Jet banner in November 20...

By Business reporter | Published: 30 June 2013

MINING & RETAIL

Hwange Colliery's equipment to be commissioned in July

Hwange Colliery Company Limited is going ahead with a strategy to recapitalise the operations as the main thrust that would meaningfully change the fortunes of the firm, acting MD Stanford Ndlovu to...

By Business reporter | Published: 01 July 2013

CONSTRUCTION & PROPERTY

PG sales in 5 months to May up 21% to $14.3 million

PG sales in the five months to May increased 21% to $14.3 million over the same period last year. CE Hillary Munyati told the AGM this afternoon that the improved performance had been achieved agains...

By finx | Published: 29 June 2013

ZSE TODAY

Industrials continues to lose ground ahead of half year end

ZSE's Industrials slumped to their seventh consecutive loss on Thursday as Delta shares plummeted again amid selling pressure with just one trading session left in the first half of 2013.The Industri...

By Business reporter | Published: 30 June 2013

CONSTRUCTION & PROPERTY

FBC Building Society on a major construction drive

FBC Building Society has since the beginning of this year constructed and sold a total of 68 properties, group CE John Mushayavanhu told the AGM this afternoon. The Building Society will be comm...

By Staff reporter | Published: 30 June 2013

INDUSTRIALS & ENERGY

Zimpapers acquires new printing press from India

Zimpapers has acquired a highly digitalised and more efficient printing press, Orient X-Cel, from India for $2.5 million.Zimpapers CEO Justin Mutasa told Zimpapers AGM this afternoon that the printin...

By Staff reporter | Published: 30 June 2013

TRANSPORT & TOURISM

Pioneer waiting for Unifreight purchase approval

Pioneer Corporation Africa is awaiting final approval for the Unifreight transaction which is expected in the next few weeks.Pioneer CEO Albert Ushe told the company AGM this morning that the purchase...

By Staff reporter | Published: 28 June 2013

MINING & RETAIL

GB Holdings sees increase in capacity after $1 million Dimaf funding

GB Holdings expects an increase in capacity utilisation, sales volume and an overall cost reduction after the group accessed $1 million funding from the Distresses and Marginalised Areas Fund (DIMAF)....

By finx | Published: 26 June 2013

MINING & RETAIL

Capital access and allocation risk threatens miners' future growth - E&Y

Nearly every mining operation in Zimbabwe is currently hamstrung by working capital constraints, and efforts to focus on offshore capital markets are already hurt by risk aversion, said Ernst & Yo...

By finx | Published: 26 June 2013

AFRICA BUSINESS

Imara Stockbrokers opens up Africa for retail investors

ASSET management and securities trading company Imara SP Reid Stockbrokers on Tuesday launched an investment platform enabling its retail clients to make investments in any stock market in Africa wit...

By BDlive | Published: 30 June 2013

ZSE TODAY

Industrials weaken on heavyweights' sell-off

Selling pressure in mostly heavily capitalised counters saw the Industrials close in the red on Tuesday for the 5th consecutive session.The Industrials Index dropped 1.73 points or0.80% to 215.24 trim...

By Business reporter | Published: 25 June 2013

CONSTRUCTION & PROPERTY

Zimre's first quarter operating profit grows to $1.9 million

Zimre Holdings Limited recorded 38% growth in operating profit in the first quarter as a result of improved collections and cost control initiatives implemented by the firm, group CEO Albert Nduna ...

By Business reporter | Published: 25 June 2013

OPINION

Weak corporate governance frameworks reduce investor confidence

The recently elected president of the Institute of Chartered Secretaries and Administrators in Zimbabwe, Mr Glovah Ngoni Madzima, says weak corporate governance frameworks reduce investor confidence. ...

By Chris Chinamhora | Published: 25 June 2013

AFRICA NEWS

White doves released at Mandela hospital

White doves were released at the Pretoria hospital where former president Nelson Mandela remained in a critical condition.Businessman Calvern Hugo today released about 60 birds near the Celliers Stree...

By Sapa | Published: 25 June 2013

ECONOMC INDICATORS

Zimbabwe trade deficit worsens to $1.6bn in 4 months to April

Zimbabwe's trade deficit in the 4 months to April widened to US$1.6 billion after it imported goods worth US$2.62 billion against exports of $1.02 billion.According to statistics made available by Zi...

By Business reporter | Published: 10 July 2013

BUSINESS NEWS

Charles Msipa elected CZI president

Schweppes MD Charles Msipa was last week elected CZI president for the 2013-14 period taking over from Nestle Zimbabwe CE Kumbirai Katsande. Before the appointment, Msipa was the first VP of the indu...

By finx | Published: 10 July 2013

ECONOMC INDICATORS

Zimbabwe's annual inflation down to 2.20%

Zimbabwe's year-on-year inflation rate for the month of May declined to 2.20% vs April 2.49% while month on Month in May was -0.21% versus -0.07% in April according to figures from ZimStat.The continu...

By Business reporter | Published: 14 June 2013

ZSE TODAY

ZSE shares end week lower on profit taking

ZSE shares ended lower on Friday as investors extended profit taking mostly in Delta to a third straight session.The Industrials Index closed the week in the red after easing 0.08 points or 0.04% to 2...

By Business reporter | Published: 14 June 2013

LANDS & AGRICULTURE

TSL revenue up 31%, profit up 50%

TSL Limited posted a 31% growth in revenue to $20.22 million for the six months ended 30 April 2013 from $15.38 million in the same period last year on the back of strong performance from the group's ...

By Business reporter | Published: 14 June 2013

MINING & RETAIL

OK Zimbabwe declares a final dividend

OK Zimbabwe board of directors on 7 June 2013 declared a final dividend of 0,40 cents per share payable out of the profits of the company for the year ended 3 I March 2013.The dividend will be payable...

By Mkhululi Siwela | Published: 13 June 2013

ZSE TODAY

Delta drags Industrials lower as BAT shares hit $9

Delta shares dragged the Industrials lower for the second consecutive session on Thursday largely on profit taking whie BAT shares advanced to another all-time best of $9.The Industrials Index eased 1...

By Business reporter | Published: 13 June 2013

POLITICS

Tsvangirai rejects July 31 election date

Zimbabwe Prime Minister Morgan Tsvangirai on Thursday rejected a plan by President Robert Mugabe to hold an election on July 31, accusing his rival of breaking the constitution and fomenting a politic...

By Reuters | Published: 13 June 2013

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