BUSINESS NEWS

Dutch firm blocked from purchasing Astra Industries parent company

A REGIONAL regulatory body has blocked Dutch paint and coatings firm, AkzoNobel N, from acquiring a stake in the Mauritian and South African subsidiaries of Japanese chemical firm, Kansai Paint Co Ltd...

BUSINESS NEWS

NRZ targets US$1m from property leases

National Railways of Zimbabwe (NRZ) is targeting to generate at least US$1 million annually from leasing out some of its properties across the country as part of an initiative to widen its revenue bas...

POLITICS

Zimbabwe's new MPs to declare assets

All newly sworn-in Members of Parliament (MPs) have a deadline of November 7 to submit their financial interests lists to Parliament, as mandated by the Constitution and Parliament's standing rules an...

ASIA PACIFIC

Oil price resurgence has further to run

When crude surges above US$90 a barrel and the leaders of Saudi Arabia and Russia get on the phone to congratulate each other on a job well done, oil consumers should take note.After half a year in th...

BUSINESS NEWS

Concern over Masvingo black market

The Zimbabwe National Chamber of Commerce (ZNCC) has castigated the emergence of a black market for some basic commodities in the city of Masvingo saying it's adversely affecting operations of superma...

BUSINESS NEWS

Zimbabwe has sufficient water for winter irrigation

The Zimbabwe National Water Authority (ZINWA) has said the country's dams have sufficient water to meet the winter cropping irrigation needs.ZINWA spokesperson, Marjorie Munyonga told Business Times t...

Mnangagwa appoints diplomat Faranisi as perm sec

President Emmerson Mnangagwa has appointed Ambassador Tayerera Faranisi as the new permanent secretary in the Ministry of Environment, Climate, Tourism and Hospitality Industry with effect from August...

Shortage of oil refineries haunts Africa as fuel prices rocket

A shortage of oil refineries across sub-Saharan Africa coupled with soaring crude prices because of the war in Ukraine has left countries dangerously short of fuel supplies, disrupting airlines and ca...

BUSINESS NEWS

Concerns that informal market may mop up US$ as parallel rates creep up

Industry is yet to gather data on how much sales are being generated in foreign currency although there is an increase in the use of domestic nostro accounts to settle transactions as RTGS liquidity b...

LANDS & AGRICULTURE

Milk production in July increases 5%

Milk production increased 4.84% in July to 6.5 million litres which is two thirds of the country's monthly requirements of 10 million litres. According to the latest Zimbabwe Dairy Services stati...

POLITICS

Massive border fence between South Africa and Zimbabwe

In response to the Covid-19 pandemic, government is to erect a 40km fence within a month to ensure that no undocumented or infected persons cross the border into South Africa from Zimbabwe and vice ve...

ZSE TODAY

ZSE stocks little changed as Old Mutual halts losing streak

The equities market closed near flat on Thursday after gains in select heavyweight stocks restricted the losses on the benchmark index to just 0.08%.Trading in the heavyweight was not impressive with ...

BUSINESS NEWS

Tax breaks for renewable energy investors as govt launches new policy

Government has dangled a carrot to potential investors in the renewable energy sector by giving tax breaks as well as awarding national project status for such ventures.This is contained in the new en...

ZIMBABWE

Zim$ depreciates 27.28% as Reuters goes live

The Reuters foreign currency trading platform went live today, marking Zimbabwe's long-delayed step towards a transparent and effective foreign exchange trading platform.This also comes as Bureaux de ...

ZSE TODAY

ZSE falls as RBZ readies corporate OMO Bills to mop up excess liquidity

The stock market fell on Wednesday but at a much slower pace as investors have adopted a somewhat wait and see approach until the dust settles on the ongoing currency reforms that Treasury and the Res...

POLITICS

Mudenda blasts Zanu-PF MPs

SPEAKER of the National Assembly Jacob Mudenda has slammed Zanu-PF MPs for disrupting Parliament's portfolio committee meetings chaired by MDC legislators saying the development contradicted President...

ZIMBABWE

Market breadth turns negative as ZSE falls further

The stock market fell further on Tuesday as the market breadth turned negative. Foreign participation remained insignificant and local liquidity remained restricted with turnover closing at $17.9m whi...

BUSINESS NEWS

All deposit classes now indexed to treasury bill yields, say Mthuli Ncube

Government has gazetted a statutory instrument which directs that all classes of deposits in the banking system, should be indexed to treasury bill yields as part of efforts to promote fair compensati...

POLITICS

Gumbo was never arrested: Lawyer

PRESIDENTIAL Affairs minister Joram Gumbo was never arrested for criminal abuse of office, but he was just being interviewed on the goings on in parastatals which fell under his previous ministry and ...

POLITICS

Khupe loses ConCourt case

THE Constitutional Court (ConCourt) yesterday deflated MDC-T leader Thokozani Khupe's bid to wrest the MDC presidency from Nelson Chamisa, after dismissing her challenge for being expelled from Parlia...

BUSINESS NEWS

Matsekete replaces Mushosho as Old Mutual CEO

Old Mutual has announced First Capital Bank MD Sam Matsekete as CEO-Designate. This follows Matsekete's resignation from the banking group effective January 1, 2020.He will take over from Jonas Mushos...

BUSINESS NEWS

ZETDC vending system crashes

THE Zimbabwe Transmission Distribution Company (ZETDC) has directed consumers to revert to physical banking halls to purchase electricity tokens following technical glitches which have crippled its pr...

BUSINESS NEWS

'Sanctions to blame for outdated ICT infrastructure'

THE country requires robust state-of-the-art infrastructure for ICTs to be competitive in line with the global trends, Information Communication Technology and Courier Services Minister Kazembe Kazemb...

BUSINESS NEWS

Chasi proposes 30-year sentence for Zesa vandals

Energy and Power Development Minister Fortune Chasi has proposed a 30-year mandatory prison sentence for vandalising ZESA infrastructure. This comes after the power utility has suffered losses amounti...

MINING & RETAIL

Tharisa Zimbabwe asset gets Special Economic Zone status

Tharisa PLC on Tuesday said land on which it has special mining grants in Zimbabwe has been designated a special economic zone.A 50,667-hectare area has been given the designation, miner Tharisa said,...