BUSINESS NEWS

Mnangagwa appoints 2 new Supreme Court judges

President Emmerson Mnangagwa has appointed High Court judges Charles Hungwe and Nicholas Mathonsi to the Supreme Court after the recent public interviews, NewsDay reported.The two participated in rece...

By Staff reporter | Published: 6 hours ago

BUSINESS NEWS

Met Dept calls for use of nuclear technology

Zimbabwe's Meteorological Service Department (MSD) acting director Rebecca Manzou has urged nations to use technologies meant to detect nuclear activities for alternative purposes, particularly season...

By Staff reporter | Published: 6 hours ago

BUSINESS NEWS

Ex-ZPC board chair reveals other Chivayo beneficiaries

FORMER Zimbabwe Power Company chairperson Stanley Kazhanje, who is accused of concealing his business interests in Intratrek Zimbabwe, yesterday revealed in court that he was not the only engineer pai...

By Staff reporter | Published: 6 hours ago

BUSINESS NEWS

'Dealers diverting fuel to black market'

UNSCRUPULOUS fuel dealers are allegedly diverting large volumes of the commodity to the underground markets, causing shortages on the market, the National Oil Infrastructure Company (NOIC) chairman Da...

By Staff reporter | Published: 6 hours ago

BUSINESS NEWS

Matanga tells cops to be diligent

ZIMBABWE Police Commissioner-General Godwin Matanga has urged police officers who are attending the rebranding exercise to be diligent, engaging and understanding in executing their duties because the...

By Staff reporter | Published: 6 hours ago

BUSINESS NEWS

Mthuli Ncube tightens forex controls

ZIMBABAWE has tightened controls on access to foreign currency for companies as authorities battle to stem a thriving parallel market for the scarce currency.Corporates in the southern African economy...

By Staff reporter | Published: 6 hours ago

BUSINESS NEWS

Mnangagwa summoned over ambush

CAPTAINS of industry meeting in Victoria Falls, beginning Wednesday, under the banner of the Zimbabwe National Chamber of Commerce (ZNCC), have summoned President Emmerson Mnangagwa to explain his gov...

By Staff reporter | Published: 6 hours ago

BUSINESS NEWS

Zimdollar given 5-day ultimatum

THE National Tripartite Negotiating Forum (TNF) has given government up to Tuesday next week to withdraw Statutory Instrument 142/2019, which banned the use of multi-currency and reintroduced the Zimb...

By Staff reporter | Published: 7 hours ago

BUSINESS NEWS

23 toll-gate staffers dismissed for fraud in three months

A company managing part of the Zimbabwe National Roads Administration (Zinara)'s toll-gate network has dismissed some 23 workers on charges of fraud in the last three months, Parliament has heard.Duri...

By newzimbabwe | Published: 7 hours ago

BUSINESS NEWS

International remittances recipients to get forex

Recipients of international remittances will continue receiving money in hard currency following the abolishment of multi-currency system or can be paid in local currency at a prevailing official exch...

By Staff reporter | Published: 7 hours ago

BUSINESS NEWS

New regulations tame bourse arbitrage window

THE 90-day disposal window of dual listed securities or shares bought by investors on the Zimbabwe Stock Exchange is a positive move as it tames arbitrage opportunities and externalisation of funds, e...

By Staff reporter | Published: 7 hours ago

BUSINESS NEWS

Economists warn against USD-based prices

The Economists Roundtable has implored businesses to stop pegging prices of goods and services against the value of the US dollar since the costs they incur are in local currency. The call follows the...

By Staff reporter | Published: 7 hours ago

BUSINESS NEWS

Cabinet approves currency reforms

Cabinet has approved currency reforms introduced by Treasury which culminated in the scrapping of the multi-currency system on local transactions saying the move would now bring normalcy in the econom...

By Staff reporter | Published: 7 hours ago

BUSINESS NEWS

Mthuli Ncube slams debt takeover practice

Government may not take over the debts of State-owned entities such as Air Zimbabwe and Zisco, touted as critical to make them more attractive to investors, after Finance and Economic Development Mini...

By Staff reporter | Published: 7 hours ago

BUSINESS NEWS

Bogus estate agents on the prowl

REGISTERED estate agents in Gweru on Monday claimed that bogus property sellers were on the prowl in the Midlands capital and called on the council to help weed out the illegal operators.Trevor Dollar...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Tendai Biti claims SI 142 is illegal

FORMER Finance Minister and legislator Tendai Biti has described the abandonment of the multi-currency system by government as a disaster while urging its reversal.The MDC MP for Harare East was addr...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Mthuli Ncube told to 'Set up Monetary Policy Committee'

ECONOMIST and businessman, Mr Eddie Cross, has hailed Government for abolishing the multi-currency system in favour of the local currency. Government on Monday scrapped the multi-currency regime and r...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

RBZ hikes interest rate to 50%

THE Reserve Bank of Zimbabwe (RBZ) has increased the interest rate on its overnight window to 50 percent per annum from 15 percent in a bid to tame inflationary pressures alongside other measures mean...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

RBZ scraps US$10 000 daily trading limit for bureaux de change

THE Reserve Bank of Zimbabwe (RBZ) has scrapped the US$10 000 daily trading limit for bureaux de change and the 2,5 percent maximum profit margin for banks, in a bid to make the interbank forex market...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Mnangagwa claims that 'Country has returned to normalcy'

PRESIDENT Mnangagwa yesterday said the removal of the multi-currency regime marks the country's return to normalcy while assuring Zimbabweans that the Bond note will not be decommissioned. Finance and...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Big retail shops comply with forex directive

A snap survey conducted yesterday revealed that several retail shops in Bulawayo had already complied with the new policy and were selling their products in local currency. Although others had adjuste...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Zimbabwean exporters to continue getting US$

Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya says the new monetary regulations as announced through Statutory Instrument (SI) 142 of 2019 will have no effect on payment modalities to expor...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Load shedding to intensify - ZESA

Power utility, Zesa Holdings, has announced that it will implement load shedding outside the official schedule following a breakdown at Hwange Power Station. "Due to a technical fault at Hwange Power ...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Zinara finance director arrested

ZIMBABWE National Road Administration (Zinara) finance director Simon Taranhike has been arrested on allegations of criminal abuse of office and attempts to conceal corruption. Sources close to the in...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Govt orders 200 000 vehicle number plates

THE Transport ministry has placed an order of over 200 000 number plates in an effort to address their shortages in the country.This comes as the Central Vehicle Registry (CVR) has been grappling with...

By Staff reporter | Published: 25 June 2019
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