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Zim inflation shoots to 42,09%

ZIMBABWE’S inflation rose to 42,09% year-on-year in December, its highest for a decade, from 31,01% in November driven by increases in the price of basic goods, the Zimbabwe National Statistics Agency (Zimstat) said on Thursday, underlining the challenge faced by President Emmerson Mnangagwa’s administration to revive the economy. BY ALFONCE …

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Temporary forex relief for companies

COMPANIES facing imminent closure due to lack of foreign currency got temporary respite after government issued letters of credit allowing large corporates to procure raw materials, Confederation of Zimbabwe Industries (CZI) has said. BY FIDELITY MHLANGA CZI president Sifelani Jabangwe told NewsDay yesterday that after a meeting with Industry minister …

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Safari sector posts record performance

Martin Kadzere Senior Business ReporterZimbabwe’s lucrative safari industry witnessed its best performance since independence in 1980, buoyed by growing interest from traditional markets responding positively to President Mnangagwa’s Zimbabwe is open for business mantra. Mr Emmanuel Fundira, the president of Safari Operators Association of Zimbabwe,  yesterday said that positive sentiments …

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Safari sector posts record performance

Martin Kadzere Senior Business ReporterZimbabwe’s lucrative safari industry witnessed its best performance since independence in 1980, buoyed by growing interest from traditional markets responding positively to President Mnangagwa’s Zimbabwe is open for business mantra. Mr Emmanuel Fundira, the president of Safari Operators Association of Zimbabwe,  yesterday said that positive sentiments …

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Monthly food inflation falls to 9pc

Enacy Mapakame Business ReporterZimbabwe’s month-on-month food and non-alcoholic beverages inflation rate stood at 9,07 percent in December 2018, shedding 5,46 percentage points on the November 2018 rate of 14,53 percent. Latest figures from the Zimbabwe National Statistics Agency (ZimStats) reveal the month on month non-food inflation rate stood at 9,01 …

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Oil prices fall

Oil prices fell yesterday after US crude production neared an unprecedented 12 million barrels per day and concern grew over weakening demand, particularly in light of the trade dispute between the United States and China. International Brent crude oil futures were down 52 cents, or nearly 1 percent, at $60,80 …

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UK in deadlock over Brexit ‘Plan B’

LONDON. — Britain’s last-minute scramble to shape its exit from the EU, its biggest policy upheaval in half a century, hit the rocks yesterday as Prime Minister Theresa May and opposition Labour leader Jeremy Corbyn dug in their heels for competing visions. After May’s two-year attempt to forge an amicable …

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Rand weaker

South Africa’s rand was slightly weaker against the dollar in early trade yesterday ahead of a central bank interest rate decision and US jobs data later in the day. At 0632 GMT, the rand traded at 13.7250 per dollar, 0,22 percent weaker than its New York close of 13.6950 on …

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Merlin re-courts Zamco

Oliver Kazunga Bulawayo Bureau MERLIN Limited judicial manager Mr Cecil Madondo is seeking re-engagement with the Zimbabwe Asset Management Company (Zamco) for the disbursement of $5 million it requires to pay its creditors. In the provisional order granted on November 8, 2018 under case number 2724/18, Justice Martin Makonese ruled …

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Zimra engages workers

Africa Moyo Senior Business Reporter The Zimbabwe Revenue Authority (Zimra) is enmeshed in talks with worker representatives to locate lasting solutions to challenges faced by employees, who claim they are now struggling to make ends meet due to the recent rise in prices of fuel and basic commodities. The negotiations …

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