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Zesa in bid to increase miners’ tariffs |
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Wednesday, 08 February 2012 00:00 |
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Power utility Zesa Holdings has applied for permission to increase tariffs for its ring-fenced consumers, an official said on Monday. Last year the utility entered into an agreement with the country's 22 major miners for an uninterrupted cumulative 108 megawatts of power to minimise production disruptions in exchange for a higher tariff. Kadoma Paper Mills also benefited from
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AfrAsia Bank to invest US$16,5m in Sadc, Comesa |
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Wednesday, 08 February 2012 00:00 |
Business Reporter
MAURITIUS-based AfrAsia Bank, which recently acquired 35 percent of Kingdom Financial Holdings Limited, has
raised US$16,5 million for further expansion into the Sadc and Comesa regions with particular focus on Zimbabwe and
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Manufacturing gets lion’s share of bank credit |
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Wednesday, 08 February 2012 00:00 |
Tawanda Musarurwa Business Reporter
THE manufacturing sector took up the majority of bank financing that was lent to the private sector last year, which reflected a significant upturn during the period. Statistics contained in the recently announced Monetary Policy Statement show that
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ANC rules out mine nationalisation |
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Wednesday, 08 February 2012 00:00 |
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CAPE TOWN. - Nationalising South Africa's mines is not a viable option for the country's key sector and has been ruled out by the ruling party, the mines minister said yesterday, in a move welcomed by industry. "We have consistently maintained that nationalisation is not the policy either of government or the ruling party," Mineral Resources Minister Susan Shabangu
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Investment roadshow set for SA |
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Wednesday, 08 February 2012 00:00 |
Business Reporter
A high-powered business delegation will early next month embark on a roadshow in South Africa to promote trade and investment between the two countries. The Ministry of Economic Planning and Investment Promotion will lead the show
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New rescue plan for RioZim |
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Wednesday, 08 February 2012 00:00 |
Martin Kadzere Senior Business Reporter
RIOZIM is due to announce a new rescue plan amid indications the company now intends to raise about US$47 million through a combination of rights offer and private placement. Managing director Mr Josh Sachikonye said yesterday of the
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Lobels mulls sale of assets to pay debts |
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Wednesday, 08 February 2012 00:00 |
 Bright Madera Senior Business Reporter
LOBELS Holdings Limited is due to hold a meeting soon to persuade creditors to approve the disposal some of its Lobels Bread assets to pay off its debts. The meeting has been scheduled for February 22, 2012. The order of court to convene the scheme
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Loss-making Mitsubishi to end Europe production |
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Tuesday, 07 February 2012 00:00 |
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TOKYO. - Japan's Mitsubishi Motors said yesterday it would stop manufacturing automobiles in Europe by the end of 2012, blaming a difficult operating environment in the debt-hit continent. The Japanese carmaker produces the Colt sub-compact and the Outlander sports utility models at NedCar, a wholly-owned production unit in Born, the Netherlands, with some 1 500
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Strain shows in Papademos coalition |
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Tuesday, 07 February 2012 00:00 |
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ATHENS. - Leaders of Greece's ruling coalition were steeling themselves for fresh talks yesterday after objections to another round of spending cuts stalled progress on clinching a critical debt rescue package. Despite the looming threat of a disastrous debt default in March, Prime Minister Lucas Papademos could not persuade his socialist, conservative and far-right allies to
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Gold slips as Greek bailout talks hurt euro, stocks |
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Tuesday, 07 February 2012 00:00 |
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LONDON. - Gold prices slipped in Europe yesterday, extending the previous session's 2 percent price drop, as concerns over the progress of talks on a Greek bailout weighed on the euro and on assets seen as higher risk such as stocks and commodities. Spot gold was down 0,5 percent at US$1 717,90 an ounce, while US gold futures for February delivery were
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Embed ethics management processes |
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Tuesday, 07 February 2012 00:00 |
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acUnited States-based politician Margaret Chase Smith, once remarked, "The right way is not always the popular and easy way". Standing for right when it is unpopular is a true test of moral character. For many years, trustworthy people in our firms and public institutions feared persecution if they stood for the right against the wrong. They feared for their jobs and
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Zim on threshold of serious economic growth |
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Tuesday, 07 February 2012 00:00 |
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Addressing the CZI Congress in 2005 in Nyanga, I am on record as having pronounced that "Zimbabwe is going to be the fastest growing economy on this planet in the years 2005-2030". As I write today in 2012, we have roughly 18 years before we can put this pronouncement to test. I believe that Zimbabwe's high literacy ratio (only second to Tunisia), great climate
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Page 346 of 611 |
