Cotton marketing season starts next week

Martin Kadzere Business Reporter The 2018 cotton marketing season is expected to begin next week with farmers and authorities finalising payment modalities, a farmer representative body has said. At a recent meeting, farmers and the authorities provisionally agreed growers would be paid cash amounting to US$10 and 150 RTGS dollars, …

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First quarter platinum output slides

Tawanda Musarurwa The country’s first quarter platinum output declined marginally from 120 000 ounces in the previous quarter to 110 000 ounces, according to the latest World Platinum Investment Council (WPIC) Platinum Quarterly. The numbers show that Zimbabwe was the only country to record a decline in the period under …

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Minister appoints new EMA Board

The Minister of Environment, Tourism and Hospitality Industry, Hon Prisca Mupfumira (Sen) appointed a new Environment Management Board (EMB) on May 13, 2019, following the expiry of the term of office of the previous Board. The appointment of the Board by the Minister is provided for in section 11 of …

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Govt demands $206m from miners

Blessings Chidakwa Mashonaland West Bureau Government is owed a cumulative US$206 million in unpaid mining taxes and has since declared that it will soon be forfeiting claims held for speculative purposes. According to Mines and Mining Development Deputy Minister Polite Kambamura, Government will this month deliberate on objections made regarding …

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Upgrade tourism facilities: Minister

Golden Sibanda Senior Business Reporter Tourism operators across Zimbabwe must upgrade the quality and extent of their physical infrastructure in order to be able to handle the anticipated steady increase in visitors beginning next year, Environment, Tourism and Hospitality Industry Minister Priscah Mupfumira has said. Minister Mupfumira said Zimbabwe’s allure …

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Hospitality workers demand salaries in forex

BY Nkululeko Sibanda WORKERS in the hospitality industry are demanding that their salaries be paid in foreign currency, saying their employers have the capacity to do so as most of their transactions are in foreign currency. The call by workers in the sector comes at a time many businesses are …

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Fidelity dangles incentive for gold

BY MISHMA CHAKANYUKA Fidelity Printers and Refiners Limited (FPR) says it will pay an incentive for gold deliveries as government tries to ramp up output of the yellow metal. In a statement, FPR, a subsidiary of the Reserve Bank of Zimbabwe (RBZ) mandated to buy gold on behalf of the …

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Business, homes urged to turn to renewable energy

BY MTHANDAZO NYONI INDUSTRIALISTS have called on the business sector and individuals to adopt renewable energy sources as a long-term solution to the country’s power shortages. Power utility, Zesa Holdings last week started a load-shedding regime that has seen businesses and households going for at least 10 hours without electricity …

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Gold falls

Gold prices fell yesterday as an escalating trade conflict between Washington and Beijing weighed on the yuan, denting demand in the world’s biggest consumer of the metal, China. Spot gold was down 0,2 percent at $1,283.63 an ounce at 1031 GMT. US gold futures slipped 0,3 percent to $1,284.20. “Gold …

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Oil supply crunch

Oil production capacity could fall to under 1 percent of global oil demand by the end of the year if OPEC compensates falling production from Iran and Venezuela, leaving oil prices exposed to sharp swings in the event of unplanned outages, analysts say. Spare capacity is the extra oil a …

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