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EUROPE

Theresa May's first cabinet: Who's who

Theresa May took over as prime minister on Wednesday and has set about appointing her first cabinet.The key questions are how far she will go to stamp her own mark on the top team by bringing in fresh...

By FT | Published: 14 July 2016

BUSINESS NEWS

Zimbabwe miss $1.8 billion repayment deadline

President Robert Mugabe's government failed to repay $1.8 billion to the International Monetary Fund, the World Bank and African Development Bank, Bulawayo24.com reported.The country had set its own d...

By Thobekile Zhou | Published: 14 July 2016

BUSINESS NEWS

AMA to float additional $50m bills

The Agricultural Marketing Authority (AMA) has been granted authority to float an additional $50 million bills for maize purchase for the 2016 season.Said Ministry of Agriculture, Mechanisation and Ir...

By Staff reporter | Published: 14 July 2016

ZSE TODAY

Industrials sinks further into the red

The mainstream industrial index sunk further into the red with a 0.80 loss to settle at 100.59 in today's trades.Beverages giant Delta led the shakers with a $0,0163 decline to close at $0,6812 just a...

By Staff reporter | Published: 14 July 2016

INDUSTRIALS & ENERGY

Dewei purchases PG for R500,000

Hardware retailer PG Industries says it has found an investor, Dewei Investments Limited, to buy the entire company's share register at a cost of $500,000.The company has been under a High Court sanct...

By Staff reporter | Published: 14 July 2016

LANDS & AGRICULTURE

Tobacco rakes in $500 million

TOBACCO sales have so far raked in more than $500 million in sales for the 71 days of the marketing season, as farmers continue to deliver the golden leaf.tobacco prices started as low as US 0.6 cents...

By Staff reporter | Published: 13 July 2016

BUSINESS NEWS

Zimbabwe FDI drops to $421 million

Finance and Economic Development Minister Patrick Chinamasa has said clearance of the country's debt arrears to its multi-lateral creditors without fresh funding will leave Zimbabwe in a worse off eco...

By Business Reporter | Published: 13 July 2016

INDUSTRIALS & ENERGY

Delta reports 11% drop in first quarter revenues

Delta Corporation’s revenue fell 11% in the first quarter, reflecting both weak demand and changes to the mix of the products within our portfolio. In its trading update for the three months to...

By Staff reporter | Published: 13 July 2016

INDUSTRIALS & ENERGY

Meikles FY2016 turnover up 10%

Hotel and retail group Meikles Africa Limited's turnover for the full year to March 30, 2016 rose by 10 percent to $454 million relative to prior year.The group says it has delayed the release of its ...

By Staff reporter | Published: 12 July 2016

BUSINESS NEWS

Zinara to hold maiden AGM

The Zimbabwe National Road Administration (Zinara) will hold its first ever annual general meeting (AGM) in over 10 years since its establishment as it moves in line with Government demands for good c...

By New Ziana | Published: 12 July 2016

ZSE TODAY

Industrials extend losses

The local equities market was again dragged down by the mainstream industrial index which shed 0.35 to close at 101.39.This was on the back of the majority of counters that traded today playing in neg...

By Staff reporter | Published: 12 July 2016

FINANCIAL SERVICES

Stanbic to launch mobile banking app

Standard Bank Africa has announced plans to launch a new banking application in ten countries including at its local subsidiary Stanbic Zimbabwe, before the end of this year.Stanbic Bank Zimbabwe is a...

By New Ziana | Published: 12 July 2016

MINING & RETAIL

Mugabe takes Zimplats to court in effort to seize land

ZIMPLATS has been dragged to court with President Robert Mugabe seeking to finalise the take-over of nearly 28,000 hectares of platinum land claims belonging to the miner.Zimbabwe is pushing through a...

By Staff reporter | Published: 12 July 2016

ZIMBABWE

Banks tighten cash withdrawal limits

The shortage of cash in Zimbabwe continues unabated with banks continuing to tighten screws on withdrawal caps; taking down limits to as low as $50 and $100 per day.The demand for cash has continued t...

By Staff reporter | Published: 12 July 2016

BUSINESS NEWS

Exporters put pressure on govt

THE manufacturing sector is pushing for government to address impediments that are stifling exports so that they can generate more revenue for the economy.The move by manufacturers comes at a time Zim...

By Staff reporter | Published: 12 July 2016

POLITICS

Zimbabwe counting the costs

Last week's nationwide stayaway has sent negative messages to foreign investors that are likely to militate against government's efforts to lure foreign direct investment, analysts have said.On Wednes...

By Staff reporter | Published: 12 July 2016

TRANSPORT & TOURISM

CourierConnect in maiden profit

ZIMBABWE'S premier logistics concern, CourierConnect's turnaround strategy has paid dividends with the company posting profits for the first time since its inception about seven years ago. For the yea...

By Conrad Mwanawashe | Published: 12 July 2016

AFRICA

JSE shortens settlement cycle

JOHANNESBURG - THE JSE shortened its settlement cycle from five to three days yesterday, a move that should boost the value and numbers of trades it handles daily. Known as "T+3", the project has been...

By Staff reporter | Published: 12 July 2016

ZIMBABWE

ZSE demutualisation exercise done

THE Zimbabwe Stock Exchange (ZSE) has effectively completed its demutualisation exercise after it held its first meeting as a private company last Friday. However, it reported a US$1,1 million loss fo...

By Staff reporter | Published: 12 July 2016

MINING & RETAIL

Chihota takes control of RioZim operations

RioZim Ltd chairman Lovemore Chihota has taken over the day-to-day management of the mining group amid indications he now has an office and works closely with external managers, the Zimbabwe Independe...

By Staff reporter | Published: 12 July 2016

BUSINESS NEWS

Financial meltdown looms

ZIMBABWE'S economy is edging towards the precipice amid growing fears of a looming financial crisis as banks currency holdings continue to dwindle and cash shortages worsens.Financial executives and e...

By Staff reporter | Published: 12 July 2016

BUSINESS NEWS

Australia, Zimbabwe business council launched

THE Australia-Zimbabwe Business Council (AZBC) was launched on February 23 in Wollongong, Sydney, Australia, to strengthen bilateral trade and foster business relations and investment between the two ...

By Staff reporter | Published: 24 June 2015

MINING & RETAIL

Zim miners deny evading taxes

Zimbabwe mining companies say they are not evading taxes but distribute their earnings legitimately among various stakeholders in line with the country's laws.Isaac Kwesu, the Zimbabwe Chamber of Mine...

By Staff reporter | Published: 24 June 2015

INDUSTRIALS & ENERGY

Innscor unbundling forges ahead

Innscor Africa Limited (Innscor) has tasked its executive director for corporate finance, John Koumides, to lead an advisory committee implementing the separate listing of the group's fast-food busine...

By Staff reporter | Published: 24 June 2015

ZSE TODAY

ZSE in sixth consecutive loss

Equities recorded their sixth consecutive loss after the industrial index lost 0.47 (or 0,31 percent) to close at 150.08 in today's trades.Delta was a cent lower at 101 cents, CFI eased 0,49 cents to ...

By Staff reporter | Published: 24 June 2015
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