Latest News

TRANSPORT & TOURISM

Air Zim increases Harare-Vic Falls flights

Air Zimbabwe has increased flights to Victoria Falls ahead of the United Nations World Tourism Organisation (UNWTO) General Assembly to be held later this month.After August was declared a UNWTO month...

By Business reporter | Published: 06 August 2013

ASIA PACIFIC

Australia cuts key interest rate to record low

Australia's central bank has cut its benchmark interest rate to a new record low, in an attempt to spur a fresh wave of economic growth.The Reserve Bank of Australia (RBA) cut its key rate to 2.5% fro...

By BBC News | Published: 06 August 2013

BUSINESS NEWS

Post election market update

Yesterday, Monday 05 August 2013, the Industrial Index lost 11% one of the biggest daily losses recorded in the multi-currency system, to close at 205.57 points at a local market capitalisation of USD...

By Imara Zim Research | Published: 06 August 2013

INDUSTRIALS & ENERGY

Dunlop in fresh dispute

ANOTHER dispute has erupted at Dunlop Zimbabwe (Pvt) Ltd after the company slashed salaries of middle management in compensation of the lost time during a three-week strike which hit the tyre manufact...

By Business reporter | Published: 06 August 2013

INDUSTRIALS & ENERGY

Bata Shoe Company shuts down

Shoe manufacturing company, Bata, shut down with effect from yesterday in what company officials say is phase one of the annual shutdown, meant to address the operational challenges besetting the firm...

By Business reporter | Published: 06 August 2013

TRANSPORT & TOURISM

Cresta Sprayview Hotel re-opens in Victoria Falls

CRESTA Sprayview Hotel in the resort town of Victoria Falls has reopened after undergoing a $1,7 million refurbishment ahead of the United Nations World Tourism Organisation (UNWTO) general assembly, ...

By Victoria Falls Reporter | Published: 06 August 2013

AMERICAS

Oil slips but forecast fall in US stockpiles lend support

Singapore-U.S. crude futures slipped in early Asian trade on Tuesday as supply risks from key producers such as Libya abate, but a forecast fall in crude stockpiles in the world's biggest oil consumer...

By AFP | Published: 06 August 2013

EUROPE

BP denies US allegations of fixing natural gas market

New York-US regulators have told BP to respond to allegations of natural gas market manipulation and threatened the firm with fines of close to $29m (£19m).BP has 30 days to respond, but said the all...

By BBC News | Published: 06 August 2013

MIDDLE EAST

Hyundai Heavy wins $3.3bn order

Seoul-South Korea's Hyundai Heavy Industries (HHI) said Monday it had won a $3.3 billion order to build a steam power plant in Saudi Arabia.Under the deal signed on Sunday with Saudi Electricity Co., ...

By AFP | Published: 06 August 2013

ASIA PACIFIC

Japan's tough choice on tax hike

Hong Kong-Japan is beginning to emerge from 15 years of economic stagnation but a tax rise aimed at controlling sky-high borrowing could spoil the party.The government is planning to double consumptio...

By CNNMoney | Published: 06 August 2013

EUROPE

HSBC falls after earnings as Gulliver says markets slow

London-HSBC Holdings Plc (HSBA), Europe's biggest bank, slid in London and Hong Kong trading after profit missed analysts' estimates and Chief Executive Officer Stuart Gulliver said fast-growing emerg...

By Bloomberg | Published: 06 August 2013

PEOPLE MOVES

Russia's Mark Zuckerberg offers Edward Snowden a job

New York-Just as Edward Snowden got out of the Moscow airport, he landed a job offer.Russia granted temporary asylum on Thursday to the infamous former contractor for the National Security Agency. On ...

By CNN News | Published: 06 August 2013

POLITICS

Zanu-PF plans 'unique' wealth-transfer model

President Robert Mugabe, who won a disputed election last month, plans to transform the economy over the next five years through policies of indigenization and economic empowerment, the ruling party s...

By Bloomberg | Published: 06 August 2013

AFRICA NEWS

Obama presses for US-Africa trade pact to be renewed

WASHINGTON - President Barack Obama is mounting an early push to extend a trade pact with sub-Saharan African countries set to expire in 2015 which is seen a cornerstone of US-African economic relatio...

By FT | Published: 06 August 2013

BUSINESS NEWS

'Create enabling economic environment'

A local economist, John Robertson said that Zanu-PF manifesto will not help the country to move forward and should create a favourable economic environment that attracts foreign direct investment. God...

By Business reporter | Published: 06 August 2013

FINANCIAL SERVICES

Banks stop loans on Mugabe concern

Bloomberg News reports that most Zimbabwean banks stopped making new loans because of concern over the policies President Robert Mugabe will pursue after he won an election described by his main rival...

By Bloomberg News | Published: 06 August 2013

BUSINESS NEWS

Fuel prices remain unchanged

Fuel prices in Harare and surrounding areas have remained unchanged with petrol still selling at an average of US$1,51 per litre while diesel is going for about $1,35 per litre contrary to media repor...

By Business reporter | Published: 06 August 2013

MINING & RETAIL

Mwana Africa impairs BNC assets

Mwana Africa has written off Bindura Nickel Corporation's non-current assets on concerns over viability of the subsidiary’s operations, plunging the AIM-listed group into a humongous loss. In a stat...

By Business reporter | Published: 06 August 2013

INDUSTRIALS & ENERGY

Delta launches promotion to push sales volumes

Beverages group, Delta Corporation has launched a promotion to push sales volumes of its quart and magnum beers on the market. Faced with a four percent slump in sales, Delta is hoping that the $150 0...

By Business Reporter | Published: 06 August 2013

BUSINESS NEWS

Wheat hectarage in drastic decline

Zimbabwe's winter wheat hectarage drastically declined from the anticipated 26 000 hectares to 3 000 hectares for the 2013 season because government was pre-occupied with funding electoral process hen...

By Business reporter | Published: 05 August 2013

ZSE TODAY

ZSE shares sink in post election market bloodbath

ZSE's Industrials plunged 11.09% on Monday as panicked investors flee the bourse in post election market bloodbath that saw the heaviest sell-off since dolarisation.The Industrials Index dropped 25.64...

By Business reporters | Published: 05 August 2013

ZIMBABWE

ZSE crumbles after Mugabe's re-election

The Zimbabwean stock market crumbled on Monday, a few days after the announcement that President Robert Mugabe had won last week's elections.The results, which were rejected by the main political riva...

By Business reporter | Published: 05 August 2013

TRANSPORT & TOURISM

AirZim, France KLM sign deal

AIR France KLM Group says it has signed an agreement with Air Zimbabwe to ensure the national airline's recently acquired two aircraft receive necessary support.The Government recently leased two 150-...

By Business Reporter | Published: 05 August 2013

BUSINESS NEWS

Bulawayo airport completion set for month-end

WORK on upgrading the Joshua Mqabuko Nkomo International Airport (JMN) is expected to be completed before the end of this month, an official said yesterday. The Civil Aviation Authority of Zimbabwe (C...

By Business reporter | Published: 05 August 2013

AFRICA

Barclays Africa lists on JSE

Johannesburg - Barclays Africa listed on the JSE last Friday, using the code BGA, following Absa Group's R18,3 billion acquisition of Barclays' African business.In terms of the deal, Barclays has incr...

By Bloomberg | Published: 05 August 2013

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