Oil hit 4-year high

LONDON. – Oil prices jumped more than 2 percent to a four-year high yesterday after Opec declined to announce an immediate increase in production despite calls by US President Donald Trump for action to raise global supply. Benchmark Brent crude LCOc1 hit its highest since November 2014 at $80,94 per …

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Pre-owned car imports surge 40pc

Beitbridge Bureau The Zimbabwe Revenue Authority (Zimra) has recorded a 40,9 percent increase in imports of pre-owned vehicles at Beitbridge border post in the last eight months, it has emerged. Officials statistics from Zimra indicate that the parastatals is collecting $8,5 million from vehicle imports at the country’s and Sadc’s …

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Property sector struggles with high rent defaults

Property Reporter The country’s property market in the first half of the year was characterised by high rent default levels and also low absorption rates of rental space, despite the improving general business confidence, a listed company in the sector has said. According to a statement which accompanied its financial …

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Bitumen World extends helping hand to Harare

Golden Sibanda Bitumen World says it has undertaken additional works to improve environmental aesthetics around the traffic circle at the intersection of Harare Road, Gaydon Road and Rolf Avenue at no added cost to the client, City of Harare. The Traffic Circle is a product of the contract between client, …

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SDA to construct $4m community centre

Michael Tome  Business Reporter Adventist Services Industry (North Zimbabwe Conference) plans to build a $3,9 million office and community centre in Sandton Park, Mount Hampden. The centre will house offices and an incubation hub for community impact projects. It will entail activities like the training of livelihood and lifestyle matters including …

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Kamativi gives positive drilling results

Business Reporter Kamativi Tailing Company (KTC) said initial drilling results at its lithium project in Matabeleland North have indicated that it can be commercially viable. KTC is a joint venture between Jimbata, operating as Zimbabwe Lithium Company (ZLC) and Kamativi Tin Mines (KTM), a subsidiary of Zimbabwe Mining Development Co. …

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Zimparks extends Vic Falls viewing time

Ishemunyoro Chingwere  Business Reporter The Zimbabwe Parks and Wildlife Management Authority (Zimparks), has extended cut off time to view the Victoria Falls from 7pm to 10pm and also introduced a coterie of activities as it moves to capitalise on the anticipated boom in tourism receipts. The Victoria Falls also known as …

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Craft in $1,8bn solar partnership

Enacy Mapakame Local property firm, Craft Properties Private Limited, has entered into partnership with a United States investor for $1,8 billion solar projects to be implemented across the country. On completion, the projects – anticipated to commence early next year – should add 900MW to the national grid. The implementation …

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Boost horticulture output, farmers told

Africa Moyo Senior Business Reporter Local farmers can benefit from the $90 billion global horticulture sector and make rich pickings if they grow to standard, most of the demanded crops such as tomatoes and onions, ZimTrade CEO Mr Allan Majuru has said. Mr Majuru said this in Harare recently while …

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US, Australia endorse Zim tourism brand

Leonard Ncube in Victoria Falls Australian and United States’ consuls met tour operators in Hwange and Victoria Falls where they reaffirmed their countries’ renewed support for Zimbabwe as a safe destination. The US leads the arrivals pack in Victoria Falls and Hwange, commanding 35 percent while Australia is third after …

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