Gold eases

Gold prices eased yesterday as investors locked in profits before this week’s US non-farm payrolls data and as a rally in stock markets briefly halted the metal’s recent strong run. Spot gold was 0,3 percent lower at $1 414.37 an ounce by 1152 GMT. US gold futures were down 0,3 …

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SA rand firm

South Africa’s rand firmed early yesterday, tracking fellow emerging market currencies as expectations the US central bank would lower lending rates returned following a batch of gloomy data in the world’s number one economy. At 0650 GMT the rand was 0,36 percent firmer at 14,0100 per dollar, its strongest level …

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Airzim, MackAir sign routes deal

Ishemunyoro Chingwere Business Writer National flag carrier, Air Zimbabwe, has signed a partnership deal with Botswana-based Mack Air that will see the two airlines jointly operating routes from Harare and Victoria Falls to major tourists destinations. The deal will also see the two operating daily regional scheduled air services between …

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Government debts weigh on TelOne

Chipo Mtasa Golden Sibanda State owned fixed telecommunications giant TelOne says unpaid Government debts amounting to $93 million, 62 percent of total debt, are largely the reason it has struggled to meet obligations to critical local creditors who are owed nearly $100 million. And in 2018, TelOne said it was …

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IMF welcomes monetary reforms

Business Reporter The International Monetary Fund (IMF) says the latest reforms announced by both the Ministry of Finance and Economic Development through SI 142 of 2019 and the Reserve Bank of Zimbabwe through exchange control directive RU102/2019, are welcome as they seek to address economic distortions that have impaired macroeconomic …

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RBZ seeks international recognition for Zimdollar

BY TATIRA ZWINOIRA The Reserve Bank of Zimbabwe (RBZ) says it has written to international exchanges requesting them to officially recognise the Zimbabwe dollar as a tradeable currency. The reintroduction of the local currency as the sole legal tender in the country has so far received mixed feelings. “We have …

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Steward PAT up 42% on non-funded income

BY MISHMA CHAKANYUKA STEWARD Bank recorded a 42% increase in profit-after-tax to ZWL$31,9 million in the year ended February 28, 2019 from ZWL$22,5m recorded in the previous year, driven by growth in non-interest income. During the period under review, non-interest income grew 43% to ZWL$90,2m from ZWL$63m while funded income …

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Support agriculture, businesses told

Zimbabwe needs to invest more in agro-based businesses as it pushes for the implementation of the National Industrial Development Policy as well as the attainment of the 2030 goal of becoming an upper middle income economy. Only four African countries rank among the upper middle income economies. These are; South …

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