MSCI Asia-Pacific index down 0,6pc, Nikkei up 0,3pc

TOKYO. — Asian stocks fell on Friday after US-China trade talks ended without progress, with the markets braced for a speech by Federal Reserve Chairman Jerome Powell for hints on the direction of US monetary policy. US and Chinese officials ended two days of talks on Thursday with no major …

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Mobile voice traffic decline continues

Golden Sibanda Senior Business Reporter Voice traffic volumes for Zimbabwe’s mobile phone network operators declined for the fourth consecutive year, retreating 5,7 percent in 2017 as Over The Top services continue to impact negatively on voice business although total revenues continue to grow. OTT refers to the audio, video and …

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Foreign firms court NetOne

Africa Moyo Business Reporter A number of foreign firms are understood to be courting State-owned mobile phone operator, NetOne Cellular, with a view to injecting capital to revive the stuttering business. The expressions of interest follow the announcement on April 10 this year by Government that some parastatals should be …

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Fuel, airtime, beer boost Zimra revenues

THE Zimbabwe Revenue Authority (Zimra) surpassed its gross revenue collection target by 20,80% in July, according to a statement by the tax collector, which also showed that performance was buttressed by excise duty. BY FREEMAN MAKOPA A total of $406,13 million was receipted against a target of $336,20 million. Compared …

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Flour production up as consumption peaks

LOCAL millers say the industry is ready to meet rising flour demand, estimated to be at its peak level, following interventions on wheat imports by the central bank to cover the local output gap. BY FREEMAN MAKOPA The millers are currently producing 22 million kg of baker’s flour per month …

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Zim looks to turn around region’s rail sector

NATIONAL Railways of Zimbabwe (NRZ) general manager Lewis Mukwada (LM) was recently appointed president of the Southern Africa Railways Association (Sara) for the 2018–2019 period. NewsDay (ND) business reporter Mthandazo Nyoni interviewed Mukwada, who speaks on Sara and challenges faced by the railways sector in the region. Find excerpts of …

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Govt tenders fresh agric land audit

ZIMBABWE will be commissioning a fresh agricultural land audit, about 15 years after the Charles Utete Commission report whose findings were never implemented, which will run alongside a review of the land tenure system. BY TATIRA ZWINOIRA The institutional reforms are part of its commitments to the International Monetary Fund …

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Zimra collects $406m

Africa Moyo THE Zimbabwe Revenue Authority (Zimra) says revenue performance remains on a positive trajectory, with gross collections for July hitting $406,13 million, which was 20,80 percent above target. Zimra’s target for the month was $336,20 million. Net collections were $372,58 million after deducting refunds amounting to $33,55 million, translating …

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Vast Resources eyes Zim diamonds

Ishemunyoro Chingwere Business Reporter Vast Resources, the London-listed company, has concluded an agreement with Red Mercury, an investment vehicle owned by Marange-Zimunya Community Share Ownership Trust that will see it exploiting diamonds in Chiadzwa area believed to have great potential for significant new discoveries of alluvial and conglomerate. Chiadzwa is …

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Tamuda Investment Group sets base in Byo

Prosper Ndlovu Bulawayo Bureau SOUTH Africa head-quartered engineering and steel firm, Tamuda Investment Group (TIG), has opened a steel and pipe business in Bulawayo with plans to establish a manufacturing plant that will provide one-stop-shop engineering services to a diversity of clients. TIG is wholly owned by Zimbabweans based in …

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