Oil price in danger zone

LONDON. — Crude oil prices continue to climb despite attempts by oil producers to reassure the market about availability and the existence of enough spare capacity to offset oil lost as a result of US sanctions on Iran. Brent crude has risen to almost 75 euros per barrel, the same level …

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Gold in narrow range

BENGALURU. — Gold prices moved in a narrow range yesterday after losses in the previous session, with robust US economic data and hawkish comments from Federal Reserve policymakers boosting the dollar. Spot gold was up 0,1 percent at $1,198.16 an ounce at 0103 GMT, after falling about 0,5 percent in the …

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Seed Co lists on Botswana bourse, ZSE

Tawanda Musarurwa Zimbabwe’s largest seed maker Seed Co Limited’s partial unbundling comes to fruition today with the primary listing of spin-off Seed Co International on the Botswana Stock Exchange (BSE). Seed Co International will also get a secondary listing on the Zimbabwe Stock Exchange (ZSE), where the parent company already …

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Russian businessman seeks court intervention

Kudakwashe Mhundwa Business reporter A Russian investor has approached the High Court seeking to force his business partners to reimburse him more than $2,7 million invested into a Gweru-based gold and antimony mining firm, which has been placed under provisional liquidation. The project ran into troubled waters due to alleged …

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Finance minister meets SMEs

Business Reporter FINANCE and Economic Development Minister Professor Mthuli Ncube yesterday continued with his “consulting and listening roadshows” and met 50 leaders of small and medium enterprises (SMEs) from across the country. Prof Ncube believes SMEs are a strong engine in the country’s economy, hence his decision to consult them …

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‘Manufacturing sector capacity utilisation on the rise’

Africa Moyo recently in NORTON Capacity utilisation in the manufacturing sector is rising, mainly driven by the benefits of Statutory Instrument 122 of 2017 (formerly SI64 of 2016), which restricts the importation of products that can be locally made. This was revealed on Wednesday by Industry and Commerce Minister Nqobizitha …

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Govt cracks whip on gold milling centres

Ishemunyoro Chingwere Business Reporter GOVERNMENT has suspended operations at a gold milling centre in Bindura in what it warned was the beginning of a crackdown on milling centres it accused of underhand dealings ranging from understanding production to wanton disregard of basic tenets of safety. Mines and Mining Development Minister …

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Zim to unveil key industrial policies

Africa Moyo Senior Business Reporter President Mnangagwa yesterday said the country will soon unveil critical pieces of legislation including the new Industrial Development Policy, as the drive towards an export-led industrialisation agenda gathers momentum. The President said this while officially opening the 2018 ZimTrade Exporters’ Conference in Harare. The conference …

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Policy arrears weigh pension industry

ZIMBABWE’S pension industry is plagued by persistent and growing contribution arrears, a sign that companies and individuals are struggling to maintain life and income cover, weighed down by a harsh economic environment. BY FIDELITY MHLANGA Contribution arrears grew to $ 636,36 million as at 30 June, 2018 from $618,88 million …

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Getbucks profit jumps 25% in H1

GetBucks, a deposit-taking microfinance institution listed on the Zimbabwe Exchange, has reported a 25% growth in profit after tax in the first six months of the year, buoyed by a reduction in operating expenses and better repayment collection efforts. BY FIDELITY MHLANGA During the financial year ended June 2018, Getbucks …

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