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Business Reporter— Government’s vision to grow tourism into a $5 billion industry by 2020 is under threat from the negative impact of the value added tax on foreign hotel accommodation sales, a tourism lobby group said. Zimbabwe Council for Tourism president Mr Francis Ngwenya told a media briefing in Harare yesterday
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Tinashe Makichi Business Reporter The takeover of MicroKing by European investors will be concluded by the end of this week with an investment of $25 million expected to be made in January next year. An impeccable source privy to the details of the deal told The Herald Business yesterday that, MicroCred and AfricInvest, are engaged […]
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Johannesburg. – South Africa’s rand weakened against the dollar yesterday as investors turned their focus from the Paris attacks to growing expectations of a December rate hike by the US Federal Reserve. Stocks opened slightly higher, with the JSE Top 40 index adding 0,6 percent to 46,634 points. At 07h00 GMT
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LONDON. – Gold prices slipped yesterday, heading towards near six-year lows as the dollar rose and stocks rebounded from losses associated with Friday’s attacks in Paris. Gold briefly rose on Monday to its highest in a week at $1,097.90 an ounce after the attacks prompted a flight to safety among investors, but
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Business Reporter Asa Resources Group Plc recorded a 6,4 percent increase in gold production to 18,067 ounces at its gold mining unit, Freda Rebecca in the quarter to September on the back of improved feed grade and recoveries. Formerly Mwana Africa before takeover by Chinese, Asa Resources’ gold recovery rate for the
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ANTALYA. — The G20 Summit concluded with broad consensus on ways of achieving inclusive and robust growth of the global economy, which is still recuperating from the impact of the 2008 financial crisis. The major economies on Monday agreed to strengthen coordination of macroeconomic policies,
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With less than two months before year end, and in light of challenges the country has gone through this year, the Herald Business (HB) talked to economist Dr Gift Mugano (GM). In this interview, he touches on challenges affecting the economy and prospects for 2016.
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Consequent to the various media reports pertaining to the 2015 ZIMSEC November examinations, the candidates and all concerned stakeholders have been left in a quandary of sorts as to where we are going as an intellectual nation and in particular ZIMSEC as the custodian of the examinations. A few weeks ago,
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Sanderson Abel Economic relations of production, distribution and employment tend to fall at some point on a continuum between formal sector at one pole and the informal sector at the other, with many categories in between. Depending on their circumstances, workers and units are known to move with varying ease and speed
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SYDNEY. — The potential for financial pressure to further stall China’s growth should not be ruled out Reserve Bank assistant governor Chris Kent has said. “It’s possible to have a more substantial slowing in China that comes through the financial system problems that they might experience given they have high
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ABUJA. — Aliko Dangote, Africa’s richest man and Chairman, Dangote Group, has resigned from the board of Tiger Branded Consumer Goods Plc, formerly known as Dangote Flour Mills. Mr Dangote resigned alongside three other directors – Olakunle Alake, Asue Ighodalo and Arnold Ekpe, a former group
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LONDON — The dollar struggled to make further progress after hitting a seven-month high against the euro on Tuesday while sterling was bolstered by a better than expected readout on core inflation ahead of US numbers later in the day. An early surge by the dollar, building on Monday’s 0,5 percent gain,
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JOHANNESBURG. – South African telecoms giant MTN has won a respite on the payment of a massive $5,2 billion fine imposed on the company in Nigeria to allow for negotiations, the mobile phone operator said yesterday. The Nigerian Communications Commission (NCC) slapped the penalty on Africa’s largest telecoms firm for failing to deactivate 5,1 million
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Business Reporter The annual rate of inflation shed 0,18 percentage points on the September figure to minus 3,29 percent in October, as tight liquidity in the economy and low aggregate demand together with the weakness in the South African rand against the US dollar, continue to exert pressure on prices. According to the Zimbabwe National Statics […]
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Contribution arrears of self-administered funds increased 28 percent to $299,45 million for the quarter to June from $233,14 million. According to the Insurance and Pensions Commission’s Self-Administered Funds report for the half-year to June, funds realised contributions amounting to $403 million yet $299 million or 74 percent were in arrears as