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Ethiopia, Djibouti sign natural gas pipeline deal

ADDIS ABABA — Ethiopia and Djibouti have signed a deal to build a pipeline to transport Ethiopian gas to an export terminal in the Red Sea state, officials said. Ethiopia found extensive gas deposits in its eastern Ogaden Basin in the 1970s. China’s POLY-GCL Petroleum Investments has been developing the …

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Uganda’s economy set to expand 6,3%: IMF

KAMPALA — Uganda’s economy is expected to grow 6,3% in the 2018/19 (July-June) fiscal year, slightly higher than the 2018 rate, helped by robust activity in sectors including manufacturing and construction, the International Monetary Fund (IMF) said. Growth in the 2017/18 fiscal year was 6,1%. Inflation is expected to climb, …

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Time to look outside Cites should ivory pitch fail again

Jeffrey Gogo Climate Story Zimbabwe cannot be faulted for trying to make the Cites see reason, a commodity that apparently is now at a premium within the global watchdog for endangered animal species. Well, at least as far as noble requests on commercial ivory sales from southern Africa are concerned. …

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US-China trade relations uncertainty set to continue

A trade deal looks increasingly likely as senior US officials arrived in Beijing this week to continue trade talks with China. But the uncertainty that has rattled global markets and caused the International Monetary Fund to downgrade its global growth forecasts is likely to continue for some time. US President …

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Investor interest in 2nd fuel pipeline grows

Golden Sibanda Senior Business Reporter Several companies have expressed interest in constructing a second fuel pipeline from Beira, Mozambique, to Harare in line with Zimbabwe’s plans to create a regional fuel distribution hub, Energy and Power Development Minister Joram Gumbo has said. The project, estimated to cost in excess of …

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PRAZ, IDBZ trade barbs over tenders

Africa Moyo Senior Business Reporter INFRASTRUCTURE Development Bank of Zimbabwe (IDBZ) chief executive officer Thomas Zondo Sakala escaped prosecution by a whisker after allegedly failing to follow procurement laws in respect of tender awards for two projects. This was said by Procurement Regulatory Authority of Zimbabwe (PRAZ) chief executive officer …

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January inflation hits 10,75pc

Golden Sibanda Senior Business Reporter The month on month inflation rate in January 2019 was 10,75 percent gaining 1,72 percentage points on the December 2018 rate of 9,03 percent. This means that prices of goods and services as measured by the all items CPI increased by an average rate of …

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RTG Virtual platform grows

ONE of the country’s largest hospitality groups, Rainbow Tourism Group (RTG), says it now has 61 properties representing over 700 rooms in Bulawayo on its virtual accommodation platform. RTG Virtual is a partnership platform between RTG and selected hotels, lodges and tourism activity companies in Zimbabwe, which also develops their …

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SA bonds rise to three-week high

South Africa’s dollar-bond yields aren’t too bothered by electricity blackouts. While rand-denominated government yields due in December 2026 rose to their highest levels in three weeks, and the rand was the worst performer in emerging markets on what was generally an up day for its peers, South Africa’s dollar-bond yields …

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