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Conrad Mwanawashe Business Reporter Government has issued 68 permits for the importation of 140 000 metric tonnes of maize-meal valued at an estimated $60 million, in the process attracting the ire of local millers who feel its a way of destroying the country’s milling industry.
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Registration for tobacco growers for 2016/2017 agricultural season is in progress and Tobacco Industry and Marketing Board encourages farmers to register before October 31, 2016 to avoid penalties for late registration. Application for registration opened on January 1, and will close on October 31. Thereafter farmers will be required to pay late registration fees as provided […]
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NEW YORK. – An exodus of cash from emerging markets in recent years is closely tied to developing economies’ slower growth rates and could end with financial crises in the countries involved, the International Monetary Fund said yesterday.
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Dr Gift Mugano Zimbabwe is part of the global village. Zimbabwean economy is driven by developments in the global arena. Today we are witnessing imports from both regional and international markets choking local companies.
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Healthcare products provider, MedTech Holdings bounced back to profitability in 2015 posting a $231 368 net profit from a $1,2 million loss the previous year. Group chairman Rosemary Mazula said exchange rate gains and tight credit control measures had boosted the performance while sales had dropped.
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Matthias Ruziwa H R Issues During recession, use of bonuses becomes a highly contentious issue with the whole nature and mode of operation of bonuses called into question. Remuneration practices are deemed to be a significant contributory factor to the market crisis. Essentially, many reward specialists believe that during difficult
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Business Reporter Life assurance companies’ net written premium for the year to December 31,2015 was up 10 percent to $327 million as prudent cost management continued to be a critical survival tool for life companies.
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Conrad Mwanawashe : Business Reporter THE National Railways of Zimbabwe top management received almost $1 million in salaries last year processed through an executive bank account held with a local bank, The Herald Business has learnt. The revelations come at a time when NRZ workers have not been paid their 2015 salaries. NRZ workers are currently on […]
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About 107 bakeries closed shop over the past five years due to the harsh operating environment which precipitated by illegal sanctions that Western countries imposed in retaliation for agrarian reforms which the government imposed to address a colonial legacy, Parliament heard on Tuesday. National Bakers Association president Givemore Mesoemvura told the Parliamentary Portfolio Committee on Industry […]
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Golden Sibanda : Senior Business Reporter THE Reserve Bank of Zimbabwe has enlisted support from Afreximbank to put in place a nostro and export support facility as part of efforts to mitigate the cash crisis in the economy. RBZ Governor Dr John Mangudya said the facility will help stabilise the cyclical cash cycle in an economy that […]
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Martin Kadzere : Senior Business Reporter ZIMBABWE is now looking for niche markets for high chrome grade to minimise the impact of subdued prices of the commodity on the international markets, an official has said. Zimbabwe’s chrome exports have remained subdued, since Government lifted the export ban on the mineral in June last year, largely as a […]
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The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) said yesterday it can no longer issue new mobile licenses due to limited spectrum. Zimbabwe has three mobile telecommunications firms namely Econet, Net One and Telecel. Although a fourth operator state owned TelOne was granted a licence, funding constraints have stopped the fixed operator from rolling out mobile […]
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IMPALA Platinum’s (Implats’) black economic empowerment (BEE) at its flagship mining tenement near Rustenburg has dipped below 26 percent, after a large black-owned shareholder sold off part of its stake, casting doubt over the status of world’s second-largest platinum producer. The decision by Royal Bafokeng Holdings to sell 5 percent of its stake in Implats, leaving […]
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African governments should design punitive and effective laws to curtail illicit capital flows, experts have said. According to the experts, Africa loses over $100 billion annually through illicit financial outflows, profit repatriation and bad treaties signed between governments and multinationals. Speaking ahead of the 9th Joint Annual Ministerial meeting for finance ministers across the continent which […]
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Dexter Nduna MP : Special Correspondent The demise of once Zimbabwe’s leading textile outfit, David Whitehead Textiles remains unresolved more than a decade and half after Lonrho transferred the textile giant and National Blankets as a Group to Mr Jeremy Musgrave of National Blankets in 2001. The transfer was done to an investment vehicle called Intaglio.