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Steward Bank‘s 176k new customers help boost profits

STEWARD Bank recorded 176 000 new customers, which helped grow its profit after tax by 268,4% to $22,45 million for the financial year ending February 28, 2018. This was from a previous of $6,15 million recorded over the same period last year. BY TATIRA ZWINOIRA In a statement accompanying the …

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Local engineers should be engaged

ZIMBABWE Institution of Engineers (ZIE) wants a higher participation of local engineers in infrastructure national projects as they are not happy with the current levels. By Tatira Zwinoira As such, ZIE are hosting an inaugural conference sometime next month in Victoria Falls meant at having dialogue with policymakers on the …

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Chitando appoints new boards for parastatals

MINES minister Winston Chitando yesterday named new boards for the Zimbabwe Consolidated Diamond Company (ZCDC) and the Zimbabwe Mining Development Corporation (ZMDC), amid strong calls on the parastatals to roll up their sleeves to realise their full potential. BY TINOTENDA MUNYUKWI “I have the pleasure to announce the two boards, …

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Brazil oil workers strike

RIO DE JANEIRO/SAO PAULO. – Brazilian oil workers began a 72-hour strike yesterday in a new blow to President Michel Temer following a nationwide trucker protest that has strangled Latin America’s largest economy for over a week. The strike is the latest challenge for state-led oil firm Petroleo Brasileiro SA, …

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Global business principles, local nuances

Somebody said a Chinese student who goes to study business in the West will return home and do business the Chinese way. An Indian student will do the same. It is not yet clear whether an African business student will also come back home and conduct business the African way. …

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Three trends ahead for China’s employment market

As the 2018 global economy looks to continue getting stronger thanks to cyclical recovery, most signs point to faster growth across all regions. China in particular has become one of the world’s most important battlefields for global capital as mobile technology, artificial intelligence (AI), robotics and big data bolster our …

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Govt to import $200m edible oil

Zimbabwe is expected to import crude edible oil worth $200 million this year in an effort to supplement local production as it emerged the country’s soya beans harvest of around 50 000 tonnes falls short of national demand. Zimbabwe requires about 300 000 tonnes, with oil expressers alone requiring 150 …

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Barclays invests $10m in digital migration

Following its acquisition by FMB Capital of Malawi, Barclays Bank Zimbabwe, says it is investing around $10 million in respect of the migration of its digital systems. Last year, FMB Capital acquired a 43 percent shareholding in the Zimbabwe Stock Exchange-listed bank. Outgoing chairman Anthony Mandiwanza told shareholders at the …

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Horticulture set to surpass $143m

The Government initiative to return the horticulture sector to its former glory as one of the leading export earners is achievable if challenges bedevilling the sector are addressed, an expert has said. Zimbabwe Commercial Farmers Union (ZCFU) director Jeremiah Tevera, said surpassing the $143 million mark was achievable given the …

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National Broadband upgrade set for completion

Livingstone Marufu recently in Masvingo Communication bills for companies and individuals are set to decline significantly when TelOne completes its National Broadband (NBB) network upgrade project next month funded under a $98 million loan facility from China’s Exim Bank. The company has already connected 98 percent of the targeted customers …

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