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ZIMBABWE

ZSE Top Ten Index swings into the black

The Zimbabwe Stock Exchange (ZSE) swung back into the black in the mid-week session after its top ten index put on a marginal 0,07 percent to close at 140,96 points, following a weak start to the seco...

By Staff reporter | Published: 11 January 2019

BUSINESS NEWS

Delta's AB InBev places $120m unremitted dividends, fees into RBZ saving

The world's largest brewer Anheuser-Busch InBev (AB InBev) has agreed to place the over $120 million owed to it in unremitted dividends and fees by Delta Corporation into the Reserve Bank of Zimbabwe ...

By Staff reporter | Published: 11 January 2019

BUSINESS NEWS

Chiwenga slams use of social media to cause panic buying

ACTING President Constantino Chiwenga has castigated abuse of social media to cause panic buying of fuel and other basic commodities. Officiating at the launch of the second phase of the centre pivot ...

By Staff reporter | Published: 11 January 2019

MINING & RETAIL

Barcelos invests in another Bulawayo outlet

Internationally-acclaimed Barcelos restaurant is set to invest $350 000 in opening a second branch in Bulawayo. The restaurant boasts of three outlets in the country and is set to open more this year....

By Staff reporter | Published: 11 January 2019

MINING & RETAIL

Falcon Gold closed

GOVERNMENT has ordered Falcon Gold Mining Company in Shurugwi and other mining concerns within its proximity to immediately cease operations as a safety measure following the collapse of Wanderer Mine...

By Staff reporter | Published: 11 January 2019

INDUSTRIALS & ENERGY

Art Corporation looks beyond borders

ART Corporation is looking to allocate US$3 million for capital expenditure this year as it aims to manufacture 50 000 batteries whilst strengthening its export position in the regional market.In full...

By Staff reporter | Published: 11 January 2019

BUSINESS NEWS

Delta on the brink

DELTA Corporation says it faced the gloomy prospect of halting all its business operations this month owing to a crippling foreign currency shortage that has paralysed the economy.To cushion itself fr...

By Staff reporter | Published: 11 January 2019

BUSINESS NEWS

Zimbabwe companies to collapse in 30 days

MANY manufacturers could be forced to halt operations if government fails to arrest the crippling currency crisis within the next 10 days as most companies are left with less than a month's stock of r...

By Staff reporter | Published: 11 January 2019

TRANSPORT & TOURISM

Tourists arrivals to Zimbabwe increase by 4%

TOURIST arrivals to Zimbabwe increased 4% in the nine months to September 2018 to 1,8 million from 1,7 million in the corresponding period the previous year as international perceptions of the country...

By Staff reporter | Published: 11 January 2019

TRANSPORT & TOURISM

Shipping company threatens to block the release of containers for Zimbabwean importers

MEDITERANNEAN Shipping Company (MSC) SA (Zimbabwe) Pvt Ltd has threatened to block the release of containers for Zimbabwean importers over their failure to remit in excess of US$9,1 million in shippin...

By Staff reporter | Published: 11 January 2019

TRANSPORT & TOURISM

$400m NRZ deal in limbo

GOVERNMENT is reconsidering the US$400 million National Railways of Zimbabwe (NRZ) recapitalisation project to be jointly undertaken by the South African rail, port and pipeline company, Transnet and ...

By Staff reporter | Published: 11 January 2019

BUSINESS NEWS

Zera seeks prepaid meter deals

Zimbabwe Energy Regulatory Authority (Zera) says it is set to establish a pool of agents to sell prepaid electricity meters.Prepaid meters have recently been in high demand after Zesa Holdings (Zesa) ...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Mangoma released on $1 000 bail

Former Minister of Energy Elton Mangoma, Zesa CEO Joshua Chifamba and Managing Director of Zesa Enterprises Mr Tererai Mutasa, have appeared in court facing fresh charges of criminal abuse of office. ...

By Staff reporter | Published: 08 January 2019

POLITICS

Zanu-PF MPs forego luxury vehicles

Zanu-PF Members of Parliament have resolved to forgo luxury vehicles and other privileges that come with being a legislator to allow Government direct more resources towards more pressing needs facing...

By Staff reporter | Published: 08 January 2019

OPINION

Command economics no longer hold sway

When President Emmerson Mnangagwa announced his Cabinet in September last year - following his hotly-disputed July 30 poll victory - there was generally wide approval from Zimbabweans.The reasons for ...

By Staff reporter | Published: 08 January 2019

POLITICS

MDC will start rolling out the demonstrations next week

A showdown is looming between the Nelson Chamisa-led MDC and the Zimbabwe Republic Police (ZRP) after the youth wing of the country's biggest opposition political party resolved to conduct massive pro...

By Staff reporter | Published: 08 January 2019

FINANCIAL SERVICES

Net closes in on under-capitalised assurers

The Insurance and Pensions Commission (Ipec), is closely monitoring three under-capitalised life assurance firms - Evolution Life, Heritage and Fidelity Life - after the assurers closed the third quar...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Miners want to import own fuel

ZIMBABWE Miners Federation (ZMF), the representative body of small-scale miners, says it is pushing for a licence to import fuel for onward distribution to its members to ensure continuity of producti...

By Staff reporter | Published: 08 January 2019

POLITICS

Mugabe's ex-minister evicted over breach of contract

Former Health and Child Care minister David Parirenyatwa, who was last year taken to court for failing to settle a $291 000 outstanding balance for a house he bought in 2014, has been ordered by the H...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Multichoice Zimbabwe boss dies

Multichoice Zimbabwe chief executive Lovemore Mangwende has died, the company announced yesterday.In a statement, Multichoice said the circumstances around Mangwende's death were unclear."It is with d...

By Staff reporter | Published: 08 January 2019

FINANCIAL SERVICES

Life assurance profits down 63% in Q3

ZIMBABWE'S life assurance industry recorded 68 % decline in after tax profits to $314,85 million in the nine months to September 2018 compared to $979,27 million during the same period in 2017, the in...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Civil servants plead poverty

TEACHERS yesterday said they were too poor to go back to work as schools open countrywide today, piling pressure on President Emmerson Mnangagwa to solve the worsening economic crisis.This came as tal...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Bond notes unsustainable, fuel inflation, claims Fitch

Fitch Solutions, the macro-economic arm of global rating agency says Zimbabwe's currency regime is highly unsustainable and will continue to fuel inflationary pressures going forward.In 2009, the sout...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Natfoods re-opens Mutare milling plant

National Foods Limited will this week re-open its Mutare maize milling plant as it seeks to meet the growing demand of maize meal, a senior official said yesterday. The plant with capacity to mill 9 4...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Zimbabwe wheat stuck in Mozambique

Aconsignment of 30 000 metric tonnes of wheat which was sourced from Lithuania by the Grain Millers' Association of Zimbabwe (GMAZ) is stuck at Beira port in Mozambique after the Reserve Bank of Zimba...

By Staff reporter | Published: 06 January 2019
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