Kombis hike fares as fuel crisis deepens

By Farai Matiashe Hundreds of commuters in Harare were yesterday left stranded after commuter omnibus operators hiked fares in most part of the city, citing fuel shortages. The Zimbabwe United passenger Company (Zupco) buses, which were introduced by President Emmerson Mnangagwa early this year to solve transport problems have in …

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SA rand steady

The South African rand inched upward early yesterday, bouncing back from the previous session’s losses as investors betting on President Cyril Ramaphosa securing a big enough election majority to push through reforms locked in positions. At 0650 GMT the rand was 0,1 percent firmer at 14,4550 after sliding to a …

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Gold struggles to build momentum

Gold is having a tough time building momentum above $1,280 for the second day despite Trump’s tariff threat. The yellow metal is currently trading at $1,282 per Oz, representing marginal gains on the day. Prices clocked a high of $1,285 on Monday but ended in $1,281 even though the global …

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Letters of Credit availed for fuel

Tawanda Musarurwa and Michael Tome The Reserve Bank of Zimbabwe (RBZ) says it has availed adequate Letters of Credit (L Cs) into the market to ensure availability of critical imports such as fuel. In view of prevailing foreign currency shortages, the majority of companies are currently dependent on L Cs for critical …

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RBZ clears arrears to gold producers

Golden Sibanda Senior Business Reporter The Reserve Bank of Zimbabwe (RBZ) has cleared all outstanding payments to gold mining companies for bullion deliveries to Fidelity Printers and Refiners (FPR); the country’s sole authorised gold buyer. Captains of industry in the mining sector, especially large-scale producers, said yesterday the clearance of …

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Parties hail work towards TNF

Africa Moyo Senior Business Reporter EFFORTS to come up with a Tripartite Negotiating Forum (TNF) law have been hailed by Government, labour and business, as an important step in promoting dialogue to solve nagging issues, particularly at a time prices are being increased wantonly. This emerged yesterday during a policy …

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South Africans call for faster land reform

Surrounded by a crop of wilting sugar beans, Georginah Sidumo rubs red dust off a folder of documents she says are the only proof her farmers’ co-operative has the right to work on the land it controls. Sidumo (47), is one of thousands of black South African subsistence farmers frustrated …

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SA rand weaker

South Africa’s rand weakened yesterday amid jitters over upcoming elections and worries over a trade war between the United States and China, curbing last week’s demand for emerging-market currencies. On Sunday, US President Donald Trump announced he would raise US tariffs on $200 billion worth of Chinese goods this week …

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Gold prices up

Gold prices climbed yesterday after US President Donald Trump threatened to raise tariffs on Chinese goods, escalating Sino-US trade tensions, which prompted investors to sell riskier assets and boost safe-haven bullion. Spot gold was up 0,2 percent at $1,281.63 per ounce, as of 0930 GMT. US gold futures also gained …

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‘Boeing held off disclosing cockpit alert change’

Boeing knew months before a deadly 737 Max crash that a cockpit alert wasn’t working the way the company had told buyers of the single-aisle airliner. But the plane-maker didn’t share its findings with airlines or the Federal Aviation Administration until after a Lion Air plane went down off the …

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