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Oliver Kazunga Senior Business Reporter AUCTIONING of Royal Bank assets, which is under liquidation, will be conducted in Bulawayo on Saturday with viewing of the items already in progress. The financial institution was placed under provisional liquidation in February this year after it surrendered its licence when it failed to secure
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Charity Ruzvidzo Business Reporter THE Bulawayo business community will tomorrow host the European Union (EU) Ambassador Philip Van Damme during a meeting aimed at assessing the perceived risks of doing business in Zimbabwe. The meeting has been organised by the Zimbabwe National Chamber of Commerce (ZNCC). ZNCC
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Martin Kadzere Harare Bureau THE National Railways of Zimbabwe is on the verge of concluding a $653 loan with the Development Bank of South Africa for recapitalisation. “The rail network signals rehabilitation are 60 percent complete while negotiations for a $653 million loan with DBSA for recapitalisation of NRZ are at an
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Oliver Kazunga Senior Business Reporter THE Securities Commission of Zimbabwe (Secz) says the dematerialisation of shares for companies listed on the Zimbabwe Stock Exchange has been stalled by legacy issues surrounding the securities. Dematerialisation of shares entails the conversion of physical shares into electronic format. “Most
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Harare Bureau HWANGE Colliery Company Ltd has increased coal output by more than 60 percent over the past three months after Mota-Engil, a company contracted by the coal miner, started mining on its allocated claims, managing director Thomas Makore said. Monthly coal output increased steadily from about
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THE late onset of the rains has delayed planting of soya beans, a situation which may result in reduced yield. Ideally, Soya beans should be planted from November 15 to December 15 after the first rains. Soya bean, which now contributes 50 percent of cooking oil production, can also be used in a
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Tinashe Makichi Harare Bureau PARLIAMENTARIANS have called for an urgent labour audit in the civil service sector as the wage bill continues to chew up more than 80 percent of the national budget at the expense of capital development programmes. Of the $4,1 billion 2015 Budget, $3,32 billion (81 percent of total expenditures)
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Oliver Kazunga Senior Business Reporter— ARCHER Clothing has up to January next year to conclude the takeover of the company by Paramount or risk being liquidated, which will see more than 200 workers recruited in September becoming jobless again. The company has been battling operational challenges that saw it being placed under judicial management in […]
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Clement Mukwasi Business Correspondent THE use drones to take pictures and videos from the skies being done by some private tour operators in Victoria Falls has invited the fury of residents amid concerns that the gadgets may be used for espionage and invasion of privacy. A phantom 1 camera drone is a remote controlled 5kg […]
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Golden Sibanda Harare Bureau ZIMBABWE will find it difficult to do away with a multi-currency system, dominated by the United States dollar, due to huge recovery strides it must make to support its own currency, Reserve Bank Governor John Mangudya said. He was speaking during a media briefing on Friday where he unveiled new bond […]
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Charity Ruzvidzo Business Reporter FARMERS have applauded the restoration of the stop order system saying the programme will go a long way in ensuring increased production. Presenting the 2015 budget recently, Finance and Economic Development Minister Patrick Chinamasa said the Bankers Association of Zimbabwe (BAZ) was developing arrangements to facilitate the restoration of the stop […]
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Harare Bureau Holiday travellers will this festive season have more options as one of the major bus firms plying the busy Harare-Bulawayo route, City Link Luxury Bus Company, has increased the number of its luxury coaches and effected flexible timetables. City Link spokesperson Gerald Matapure yesterday said apart from having the normal service between 7.30AM […]
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Oliver Kazunga Senior Business Reporter BANKING sector deposits have increased by 8.3 percent to $5,2 billion in the first 10 months from $4.8 billion during the same period last year. Presenting the 2015 national budget last week, Finance and Economic Development Minister Patrick Chinamasa said long-term deposits were beginning to
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Charity Ruzvidzo Business Reporter THE cost of living for a family of six decreased by 0,11 percent to $592,47 last month from $593,13 in October, due to promotions by retailers, the Consumer Council of Zimbabwe (CCZ) has said.
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