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MINING & RETAIL

Mimosa platinum output declines

AQUARIUS PLATINUM said production at its local operation Mimosa Mining Company for the quarter ended December 2012 declined by 5 percent to 600 066 tonnes. Revenue for the same period rose 16 percen...

By Business Reporter | Published: 10 June 2013

ZSE TODAY

ZSE's blue chips continue to explore uncharted territory

Bargain hunters continued to dominate in ZSE's heavily capitalised counters on Wednesday as Delta, Innscor and OK Zimbabwe traded firm deeper into the uncharted territories.There was strong bidding ...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Hunyani reports muted performance

Hunyani reported a muted financial year ended 2012 performance as overall group volumes fell by 10% which was attributed to disposal of non-core operations and weak domestic demand. Revenue from con...

By Business reporter | Published: 10 June 2013

TECHNOLOGY

Econet develops Stock Exchange payment solution

Econet Wireless is setting up a payment system for shares on the Zimbabwe Stock Exchange using its EcoCash service.The system is designed to make it possible for small investors to buy and sell shar...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

New Dawn reports end of work stoppage at Dalny mine

New Dawn Mining announced that the illegal and unprotected work stoppage at its Dalny Mine in Zimbabwe, as previously reported on January 16, 2013, has ended. The illegal work stoppage ended as...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

Zimbabwe to double Marange diamond output

Zimbabwe expects diamond production from its Marange fields to double to 16,9 million carats this year as companies ramp-up production in a region where human rights groups have flagged concerns ove...

By Staff reporter | Published: 10 June 2013

ZSE TODAY

ZSE Report:- Industrials remains upbeat amid first block deals of 2013

Industrials remained upbeat on Tuesday with selected heavyweights treading new highs as brokers Imara executed the markefs first special deals in 2013.The Industrials Index added 0.71 points or 0.41...

By Business reporter | Published: 10 June 2013

AFRICA BUSINESS

Altech partnership creates largest fibre network in Africa

The Altech Group (Altech) has concluded the realignment of its East African network interests by injecting them into a strategic partnership with Liquid Telecommunications Holdings (Liquid), a highl...

By Business Reporter | Published: 10 June 2013

ZIMBABWE

Exhange control authority grants full fungibility to NMB shares

The Zimbabwean Exchange Control Authority, in terms of Exchange Control Regulations, has granted full fungibility to 40% of the company's issued shares that are held by foreign investors. The 40 per...

By Mafu Sithabile | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet's Liquid Telecoms becomes Africa's largest fibre optic network operator

Liquid Telecom has become Africa's largest operator of terrestrial cross-border fibre optic networks after acquiring all the East Africa businesses of South African technology giant Altech.In a sta...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet's Liquid Telecoms to buy East African assets from an SA company

Liquid Telecom, Zimbabwe's largest internet company in terms of infrastructure, volume of traffic and customer base and a subsidiary of the Econet Wireless Group will purchase South Africa's Allied...

By Business reporter | Published: 10 June 2013

AFRICA BUSINESS

African Migrants Could Save US$4 Billion Annually On Remittance Fees

WASHINGTON - Bringing remittance prices down to five percent from the current 12.4 percent average cost would put US$4 billion more in the pockets of Africa's migrants and their families who rely on...

By APO | Published: 10 June 2013

ZSE TODAY

ZSE Market Report:- heavyweights continue to rally as trading activity improves

ZSE's heavily capitalised counters were broadly higher at week's opening pushing the mainstream indices up as activity improved across the board with 44 counters out of the active 70 recording trade...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Imara share manipulation probe gathers momentum

Investigations into possible share price manipulation by Imara Edwards (Imara) have reached an advanced stage, with results expected to be announced soon, an inside source has revealed. The investi...

By Business Reporter | Published: 10 June 2013

ZSE TODAY

ZSE:- Industrials ends 4th consecutive week in the green as rally slows

ZSE's Industrials stayed in the positive territory on Friday for the 4th consecutive week as the momentum built up over the past 4 weeks waned but demand remained firm in most blue chips.The Industr...

By Business reporter | Published: 10 June 2013

POLITICS

Kasukuwere says foreign banks free to leave

Indigenisation and Empowerment minister Saviour Kasukuwere yesterday said foreign-owned banks were free to leave if they are not prepared to support the agricultural sector and emerging businesses i...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Zesa sues NRZ over $384 144 electricity bill

ZIMBABWE Electricity Transmission and Distribution Company is suing the National Railways of Zimbabwe over an electricity bill to the tune of $384 144.NRZ in Kwekwe consumed power between January 20...

By Staff Reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Air Zimbabwe upbeat ahead of IATA audit results

RESULTS of the safety standards audit which the International Air Transport Association is carrying out on Air Zimbabwe will be out by the end of February. Air Zimbabwe acting chief executive offic...

By Staff reporter | Published: 10 June 2013

PEOPLE MOVES

Mangoma steps down as M&R CEO to join Zimplats

M&R Zimbabwe chief executive oficer Stewart Mangoma is leaving the group to join Zimplats, as an executive director and chief finance officer of both Zimplats Holdings Limited and Zimbabwe Plati...

By Business reporter | Published: 10 June 2013

ZSE TODAY

ZSE Market Report:- Industrials continues to rise, up 10% year to date

ZSE's mainstream index continued to rise on Thursday as blue chips Delta and Innscor continued to trade at new highs, taking the Industrials gains in the past 4 weeks to 10.31%.The Industrials Index...

By Business reporter | Published: 10 June 2013

ZIMBABWE

Zimbabwe gold output up 13%

ZIMBABWE'S gold output rose 13,4 percent last year to 14 742kg from 12 992kg a year earlier, but fell short of the targeted 15 000kg, latest figures from the Chamber of Mines show. Gold revenueswer...

By Business Reporter | Published: 10 June 2013

ZSE TODAY

ZSE Market Report:- Industrials uptrend continues to hold as Minings stutters

ZSE's Industrials uptrend continued to hold on Wednesday and has held the upward trend since January 3 with heavyweight counters largely in favour.The Industrials Index added 1.04 points or 0.65% to...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

New Dawn increase gold sales

New Dawn Mining reported consolidated gold production for the quarter ended December 31, 2012 of 9,069 ounces (8,440 ounces attributable to New Dawn, after adjusting for the minority interests' sha...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Government to sell stake in POSB

The Government has agreed to relinquish a 49 percent stake in People's Own Savings Bank (POSB) following approval of the restructuring and privatisation plan which will transform the bank into a com...

By Staff reporter | Published: 10 June 2013

ZSE TODAY

ZSE Market Report:- Shares rising streak stretches to 14 days

ZSEs Industrials continued to advance on Tuesday as blue chips remained buoyant taking its rising streak to 14 straight sessions.The Industrials Index added 0.92 points or 0.56% to 166.44 to take it...

By Business reporter | Published: 10 June 2013

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