Home / Business (page 3)

Business

National Foods switches off wheat milling machines

ONE of the biggest millers in the country, National Foods Limited (NFL) says it will today switch off its wheat milling machines, citing non-payment of its foreign suppliers, with the country facing possible flour and bread shortages as the foreign currency crunch continues to bite. By NQOBANI NDLOVU Zimbabwe has …

Read More »

Puma Energy partners Chicken Hut

Michael Magoronga Midlands Correspondent FAST food outlet, Chicken Hut has entered into a partnership deal with Puma Energy that will see the food outlet open outlets at every Puma service station across the country. The deal will see more than 20 outlets being opened by end of 2019 and about …

Read More »

Deeds battle shows need to align laws to Constitution

Business Reporters The legal fight between global financier Al Shams Global BV1 Limited and Equity Properties (Pvt) Ltd over title deeds to a piece of land belonging to the latter, has brought to fore challenges local companies face if certain business laws are not aligned to the Constitution. Al Shams …

Read More »

Parliament orders accountant-general to publish 2016 financials

ACCOUNTANT-General Daniel Muchemwa has been ordered by Parliament to produce and publish government’s consolidated financial statements for 2016 and 2017 before year-end. BY FIDELITY MHLANGA Muchemwa, who on Monday appeared before the Parliamentary Portfolio Committee on Public Accounts, admitted to bungling on the part of Treasury. “The annual consolidated financial …

Read More »

ZSE turnover up 74% to $700m

THE value of shares that were traded on the Zimbabwe Stock Exchange (ZSE) was up 74% in the first 10 months of the year to $715,3 million as resurgent inflationary pressures forced investors to seek refuge in equities, an official has said. BY MTHANDAZO NYONI In the same period last …

Read More »

Van Hoog opposes Hwange reconstruction

Tawanda Musarurwa Senior Business Reporter British businessman Nicholas van Hoogstraten, says he is going to challenge the reconstruction of Hwange Colliery Company Limited (HCCL). Van Hoogstraten holds a 31 percent shareholding in HCCL. In October, Government placed Hwange Colliery Company Limited under reconstruction. Government has a 42 percent stake in …

Read More »

SA rand firms

JOHANNESBURG. — South Africa’s rand firmed against the dollar in early trade yesterday as investor demand for riskier assets rose after China and the United States agreed to a ceasefire in their trade war that has shaken global markets. At 0605 GMT, the rand traded at 13,7600 per dollar, 0,65 …

Read More »

NetOne fined for service breach

Zvamaida Murwira recently in Kadoma The Post and Regulatory Authority fined NetOne last month for misrepresenting information to its subscribers as the authority vowed that there are no sacred cows when it comes to the enforcement of telecommunication compliance, legislators have heard. POTRAZ director general Dr Gift Machengete said the …

Read More »

Gold nears month high

BENGALURU. — Gold climbed to a near one-month high yesterday as the dollar weakened after the United States and China agreed during the G20 summit in Argentina to a temporary truce in their trade war. Spot gold rose 0,7 percent to $1,230.81 per ounce at 1015 GMT, having touched its …

Read More »

Retailers, manufacturers end tiff

Bernard Yombayomba Herald Reporter Retailers and manufacturers have put aside their differences over the causes of product shortages and resultant spiral in prices in October. This comes as normalcy has somewhat returned in the supply of products to most shops following several weeks of turbulent times due to the supply …

Read More »