Interest caps hit POSB income

POSB’s net interest income declined by 9,84% to $11,02 million in the financial year ending December 31, 2017, which it blamed on the interest caps put in by the central bank last year. BY TATIRA ZWINOIRA Net interest income is the main source of revenue for a bank. At POSB’s …

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Hwange targets 300 000t of coal

Hwange Colliery Company Limited (HCCL) is targeting to start producing more than 300 000 metric tonnes of coal of different grades by end of June 2018, a board member has said. BY MTHANDAZO NYONI Speaking during the commemorations of the Kamandama mine disaster in Hwange yesterday, HCCL board member, Edward …

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EcoCash investigates unscrupulous agents

Econet is investigating claims that some EcoCash agents are offering cash outs at a premium. BY TATIRA ZWINOIRA In a statement yesterday, Econet said it routinely did security checks on its agents to clamp down on the practice. “EcoCash routinely carries out system reviews and security checks on its agent …

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Govt to continue supporting Hwange

Africa Moyo in HWANGE GOVERNMENT will continue to support Hwange Colliery Company Limited’s bid to return to profitability, given the role it plays in the country’s economy. This was said yesterday by the Minister of State for Matabeleland North Province Ambassador Cain Mathema, in a speech read on his behalf …

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FML seeks 100pc of NicozDiamond

Enacy Mapakame Business Reporter First Mutual Holdings Limited (FMHL) will increase its stake in NicozDimond Insurance Limited (NDIL) to 100 percent if shareholders approve the proposal at a meeting to be held at the end of this month. This comes as FMHL had acquired 80,92 percent shareholding in NDHL late …

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More jobs than unemployed workers: US study

The labour market has hit a tipping point that should help boost wages: There are more job openings in the US than unemployed workers to fill them. It’s the first time that has happened since the government began tracking job openings in 2000. There were a record 6,7 million job …

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Is IPEC fit and proper?

Martin Tarusenga In the wake of the debate on the Report of the Commission of Inquiry on insurance/pensions benefit conversion to US$ (the Commission), by the Parliamentary Portfolio Committee on Finance and Economic Development (Parliamentary Portfolio), the question is pertinently being raised whether Insurance and Pension Commission (IPEC) in its …

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Firm accused of side marketing Govt contracted cotton

Local ginning company Alliance Ginneries on Tuesday failed to provide Parliament with evidence that it contracted farmers to grow cotton and yet it was on the ground buying the crop in the Gokwe area of the Midlands province. The company was responding to accusations by the Parliamentary Portfolio Committee on …

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Zimra completes Ascyuda upgrade

Livingstone Marufu THE Zimbabwe Revenue Authority (Zimra) has managed to complete an upgrade of the Automated System for Customs Data (Asycuda) way before the authority’s June 2018 deadline. This comes after Zimra set up three top of the range servers to improve the efficiency and goods movement at country’s borders. …

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Investors to capitalise on ZimReal property forum

Livingstone Marufu Business Reporter Various investors are expected to capitalise on ZimReal Property Investment Forum scheduled for June 13, 2018 to unlock the country’s multi-billion dollar real estate and property sector as it emerged $400 million has already been invested since the coming in of the new administration. The forum comes …

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