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EUROPE

Record fine for Barclays over power prices

The US electricity market's overseer has slapped Barclays with a record $470m penalty over manipulating power prices, in the latest heavy regulatory sanction against the UK bank. The Federal Energy Re...

By FT | Published: 17 July 2013

ASIA PACIFIC

Standard Chartered hurt by Indian rate rise

Standard Chartered was a faller yesterday as a move by India to tighten liquidity raised concerns about the strength of its loan book. Chartered lost 2.8 per cent to £15.04 after the Reserve Bank of...

By FT | Published: 17 July 2013

AFRICA

Ecobank locked in boardroom battle over outstanding debts

The bank that blazed a trail across African borders to build the continent's most geographically diverse network is in the throes of a bitter boardroom battle over outstanding debts owed by businesse...

By FT | Published: 17 July 2013

TELECOMS & TECHNOLOGY

Orascom team in Zimbabwe to renew Telecel licence

A TEAM from Orascom Telecom Company, Telecel Zimbabwe's parent company, will this week engage Ministry of Transport, Communication and Infrastructural Development officials in a bid to renew the mobi...

By Business reporter | Published: 17 July 2013

BUSINESS NEWS

Dunlop Zimbabwe gives striking workers ultimatum

THE strike by Dunlop Zimbabwe workers continued yesterday with reports that management has given the striking workers an ultimatum to return to work  or risk being fired.According to the workers...

By Business reporter | Published: 17 July 2013

TRANSPORT & TOURISM

NRZ seeks potential investors to build railway line to DRC

THE National Railways of Zimbabwe is courting potential investors to build a railway line that will link the country to Kafue in Zambia and the Democratic Republic of Congo, the general manager, Air ...

By Business reporter | Published: 17 July 2013

INDUSTRIALS & ENERGY

PPC on track to set up new plant in Mashonaland

Pretoria Portland Cement says it is on track with a feasibility study to set up a new cement plant in Mashonaland.The company last year announced plans for a massive investment in Mashonaland for a n...

By Business reporter | Published: 17 July 2013

BUSINESS NEWS

Zanu-PF promise to rescue financial institutions

Zanu-PF says it will use resources from indigenisation and mineral assets to recapitalise some State-owned financial institutions should it win the harmonised elections set to be held on July 31.Plan...

By Staff reporter | Published: 17 July 2013

MINING & RETAIL

ACR seeks funding for Zimbabwe mine

AIM-listed African Consolidated Resources requires $15.7 million to fund the introduction of a four-month preproduction ore stockpile, for the Pickstone Peerless gold project in Zimbabwe as it moves ...

By Business reporter | Published: 17 July 2013

TELECOMS & TECHNOLOGY

Telecel offers customers smart phones on credit

Telecel is now offering smart phones and iPads on credit combined with any one of its Telecel Red packages.The mobile devices are available on credit on 11 month or 24 month contracts for subscribers...

By Business reporter | Published: 17 July 2013

INDUSTRIALS & ENERGY

DAF trucks head to Zimbabwe

Babcock, the importer and distributor of DAF trucks in Southern Africa, has delivered five XF truck-tractors and two rigid XF trucks to Mutare Bottling, the Manicaland Coca-Cola and Schweppes franchi...

By Staff reporter | Published: 17 July 2013

EUROPE

UK inflation rate rises to 2.9% in June

The rate of consumer price index (CPI) inflation increased to 2.9% in June, up from 2.7% in May, according to the Office for National Statistics (ONS).The figure, a 14-month high, was lower than the ...

By BBC | Published: 16 July 2013

AMERICAS

US inflation rises to 1.8% in June

Annual US consumer price inflation hit 1.8% in June as clothing, petrol and services costs all increased.That was up from the 1.4% figure recorded in May but still below the target inflation figure o...

By BBC | Published: 16 July 2013

BUSINESS NEWS

ZTA warns against fake agents

Some unscrupulous individuals are allegedly tricking people by purporting to be agents of the Zimbabwe Tourism Authority (ZTA), offering commercial packages, recruitment and related activities for the...

By Business reporter | Published: 16 July 2013

ZSE TODAY

Industrials extends record run as daily turnover rises

Industrials pushed to fresh highs on Tuesday as heavyweight counters Delta, Econet and Innscor extended gains amid rising volumes across the board.The Industrials Index gained 2.07 points or 0.92% to ...

By Business reporter | Published: 16 July 2013

MINING & RETAIL

Essar deal safe after general elections, says Ncube

INDUSTRY and Commerce minister Welshman Ncube says government's steel production partnership with Essar Africa Holdings (Essar) will not be affected by a change in government ahead of general election...

By Staff reporter | Published: 16 July 2013

OPINION

Speech by David Coltart: An Introduction to ESAP: Zimbabwe 1992

An Introduction to ESAP: Zimbabwe 1992By David Coltart31st January 1992Danish Volunteer Service Development Workers Meeting, MaphisaIt is a great pleasure to have been asked to address you today, bu...

By David Coltart | Published: 16 July 2013

MINING & RETAIL

Australian listed firm moves into Zimbabwe gold sector

A unit of Australia Stock Exchange listed Prospect Resources has invested in Zimbabwe's gold mining sector after the Zimbabwe Investment Authority approved the acquisition of a majority shareholding o...

By Business reporter | Published: 16 July 2013

MINING & RETAIL

Zim platinum output to rise

Zimbabwe's platinum output is expected to rise this year on the back of increased production at the country's platinum mines. According to Platinum 2013, a report by Johnson Mathey PLC, Zimbabwe would...

By Business reporter | Published: 16 July 2013

TELECOMS & TECHNOLOGY

Telecel has fastest broadband

Telecel has the fastest mobile broadband speed in the country, according to the results of a survey reported by Technology Zimbabwe. Not only is Telecel's broadband service the fastest in the country,...

By Business reporter | Published: 16 July 2013

BUSINESS NEWS

SIRDC targets 600t of maize seed

The Scientific and Industrial Research and Development Centre is targeting at producing 600 tonnes of maize seed for the 2013/14 cropping season, up from 165 tonnes last year. SIRDC produces a maize s...

By Staff reporter | Published: 16 July 2013

BUSINESS NEWS

ICAZ to host indaba in Vic Falls

The Institute of Chartered Accountants of Zimbabwe will this week host its 95th Congress in Victoria Falls. The congress, which will take place from July 18 to 21, will run under the theme, "Igniting ...

By Staff reporter | Published: 16 July 2013

ECONOMC INDICATORS

June CPI slows to 1.87%

Zimbabwe's year-on-year inflation rate for the month of June 2013 as measured by the all items Consumer Price Index stood at 1.87% shedding 0.33 percentage points on the May 2013 rate of 2.2%, the Zim...

By Business reporter | Published: 16 July 2013

ZIMBABWE

ZSE reaches all-time high

The Zimbabwe Stock Exchange (ZSE) has reached an all-time high, with the Industrial Index reaching the 223.89 point level for the first time since dollarisation.The ZSE has now gained 53.47% since th...

By Business reporter | Published: 16 July 2013

RUGBY

Rebels pip Highlanders

Melbourne - The Highlanders have blown a 24-point halftime lead to lose to the Rebels in Melbourne on Friday.According to the stuff.co.nz website, it was fairytale stuff for the Rebels who were awful...

By stuff.co.nz | Published: 16 July 2013

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