Friday, June 22, 2018
HARARE - At least 60 percent of funds that  the Zimbabwe National Road Authority (Zinara) allocates to local  authorities for repair and maintenance of roads goes towards hiring  equipment as councils machinery is in a state of disrepair, an official  said on Tuesday. Urban Councils Association of Zimbabwe deputy president Tsungai...
Tawanda Musarurwa HARARE – Fast foods group Simbisa Brands is looking to acquire foreign complementary business – Foodfund – once it completes its proposed listing on the London Stock Exchange (LSE). Foodfund is a family-owned and operated business incorporated in the United Arab Emirates, the British Virgin Islands and the Republic of...
GABARONE - Zimbabwe plans to start  sending rough diamonds to Botswana by June this year for cutting and  polishing, before auctioning, to enhance revenue earnings from sales of  the gems, President Emmerson Mnangagwa said on Tuesday. Botswana, a major diamond producer, is home to the Diamond Trading  Company Botswana (DTC Botswana),...
South African bonds were little changed on Wednesday morning, as the markets waited to see whether speculation of an imminent resignation by President Jacob Zuma would turn out to be true. The rand was firmer on Wednesday morning, with analysts expecting bonds to trade in tight ranges ahead of any presidential press conference. Globally, the...
By Anne Goldgar Right now, it’s Bitcoin. But in the past we’ve had dotcom stocks, the 1929 crash, 19th-century railways and the South Sea Bubble of 1720. All these were compared by contemporaries to “tulip mania”, the Dutch financial craze for tulip bulbs in the 1630s. Bitcoin, according some sceptics,...
HARARE – Agricultural Bank of Zimbabwe (Agribank) says it will take a leading role in the disbursement of Reserve Bank of Zimbabwe (RBZ) export finance facilities especially for the budding businesses. These include the $10 million youths empowerment fund, $15 million women empowerment fund and $5 million for people with...
HARARE - China remains committed to finish projects it has embarked on in Zimbabwe, as well as start new ones, an envoy said yesterday. Chinese ambassador to Zimbabwe Huang Ping told the media after paying a courtesy visit on Acting President Kembo Mohadi, that his country would continue to work...
The rand was relatively steady and well contained on Tuesday morning amid uncertainty about the future of President Jacob Zuma. The long meeting of the ANC’s national executive committee (NEC), which was meant to finalise Zuma’s departure, left the markets none the wiser, fuelling speculation that Zuma was digging in his heels. The...
HARARE - Intratrek Zimbabwe, the local  company that won the tender to set up a 100 Megawatt solar power project  in Gwanda on Monday admitted that it does not have the financial  capacity to carry through the project as its shareholders are quarreling  over ownership of the company. The company raised eyebrows...
By Alice de Jonge In 2017, we saw the consolidation of China’s power and influence globally, and of Communist Party leader Xi Jinping’s power nationally. This year, the party will try to use this to tackle some of its biggest economic hurdles such as financial risk, environmental pollution and maintaining...