Mining industry awards 80% salary increment

BY MTHANDAZO NYONI WORKERS in the mining industry have been awarded an 80% salary increment following collective bargaining negotiations which will see the lowest paid employee in the sector earning ZWL$468,58 per month. The workers will receive the new salary structure which back date to January 1, 2019. Before the …

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Chinese turn iconic Charter House into luxury hotel

Chinese multinational company Touchroad International says it will partner local property firm, Mashonaland Holdings Limited, in the development of a five-star hotel in Harare. Touchroad International Holdings chairman, He Liehui, told journalists after signing a memorandum of understanding (MoU) with Mashonaland Holdings that the project was expected to cost more …

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Economy looking positive but lacks stability: Robertson

BY TATIRA ZWINOIRA ECONOMIST John Robertson says Zimbabwe’s economic situation is beginning to look promising following the central bank’s decision to liberalise the foreign exchange market last month. Speaking at a meeting on the state of the economy organised by the British Council, Robertson said the recent monetary measures that …

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Customer centrism: Zinwa’s new thrust

THE Zimbabwe National Water Authority has declared the month of March as its Customer Service month. It is a month where the authority will appreciate its clients, who have been part of its journey since its formation. As part of the client service month, senior management from Zinwa will take …

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Rand weaker

South Africa’s rand was weaker yesterday before mining and manufacturing data releases later in the day which will give clues about the pace of economic recovery in Africa’s most industrialised economy. At 0715 GMT, the rand traded at 14,4650 versus the dollar, 0,4 percent weaker than its previous close. President …

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Gold loses ground

Gold fell yesterday as the dollar regained some ground and uncertainty over Brexit eased, but the metal held close to a two-week high hit in the previous session as tepid US inflation data cemented expectations that the Federal Reserve will hold rates. Spot gold was down 0,4 percent at $1,303.83 …

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Arda to set up horticultural hub in Mash Central

Kudakwashe Mhundwa Business Reporter The Agriculture and Rural Development Authority (Arda) intends to set up an export procurement hub for horticultural crops at its Muzarabani estate to increase out grower participation in the Mashonaland Central Province. Crops earmarked for the programme include ginger, garlic, tomatoes, guavas and mangoes. “These are …

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Import bill drops for 4th consecutive month

Business Reporter Zimbabwe’s import bill has fallen for the fourth consecutive month due to a combination of austerity measures introduced by Government as well as limited availability of foreign currency. According to the latest trade figures released by the Zimbabwe Statistics Office (Zimstats), the country’s import bill for the month …

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Tobacco auction floors for Mash West

Michael Tome Business Reporter The Tobacco Industry and Marketing Board (TIMB) says it is has received an application to open auction floors in Mashonaland West Province in a bid to decongest the traditional Harare auction floors. Tobacco sales floors have constantly been overwhelmed with (tobacco) farmers from across the country …

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Listed entities stick to USD reporting standards

Zimbabwe Stock Exchange listed companies that have released their financial results to date, have resorted to the use of old reporting standards as they await detailed guidelines from various regulators, Business Weekly has established. The need to change reporting standards was necessitated by the long awaited decision by the Reserve …

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