Fuel liberalisation opens new frontiers

Ishemunyoro Chingwere Business Reporter Government’s decision to liberalise the importation of fuel has opened a new frontier for a leading fuel solutions company, Garage and Forecourt (Pvt) Ltd, which is now working on the new importers’ fuel management systems. Cabinet, early this month, liberalised the importation of fuel to ease …

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Vaya launches nationwide ambulance services

Michael Tome Business Reporter Cassava Smartech has expanded its Vaya digital platform to offer ambulance services a few months after the company unveiled the road hailing application. Using cash, EcoCash and medical aid as forms of payment, the Vaya ambulance will assign you the nearest ambulance after ordering. The facility …

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Gold hits high

Gold scaled a near two-week peak yesterday, after reclaiming the key $1,300 level in the previous session, as investors opted for the safe-haven metal after British lawmakers rejected an amended exit deal, while a weaker dollar lent further support. Spot gold was up 0,2 percent at $1,304.53 per ounce, as …

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Rand slips

South Africa’s rand weakened early yesterday as the ongoing crisis in Britain over its exit from the European Union soured global risk appetite. At 0630 GMT the rand was 0,24 percent weaker at 14.3800 per dollar compared its overnight close in New York. The currency was volatile, rallying to a …

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Old Mutual reports earnings growth

Old Mutual Plc posted an 8 percent growth in headline earnings for the year to December 31, 2018. Headline earnings for the 12-month period under review rose to R14,2 billion from R13,1 billion in the prior year. In a statement accompanying the results, group chief executive officer Peter Moyo expressed …

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Zim eases grip on new currency in bid to end dollar squeeze

Bloomberg/Business Reporter For investors who doubted Zimbabwe would let market forces determine the price of its new currency, there’s evidence it’s doing just that. The southern African nation’s central bank has allowed the currency, known as RTGS, to slide to 2,6481 per dollar this week, taking its depreciation since trading …

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Gold deliveries up 30 percent

Ishemunyoro Chingwere Business Reporter GOLD deliveries to Fidelity Printers and Refineries (FPR) have recorded a 30 percent increase for the months of January and February this year compared to the same period last year, an early indication that the 40 tonnes annual target set by Government could be achieved. Government …

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Tobacco to boost foreign currency inflows

Kudakwashe Mhundwa Business Reporter Zimbabwe’s 2019 tobacco marketing season commences on Wednesday next week according to the Tobacco Industry and Marketing Board (TIMB) amid high expectations the golden leaf will boost foreign currency inflows. Traditionally, the marketing season kicks off in February, but was delayed this year due to late …

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ICT infrastructure key to vision 2030

Africa Moyo in BEITBRIDGE THE setting up and deployment of information communication technology infrastructure is critical to the attainment of President Mnangagwa’s vision of an upper middle income economy by 2030. This was said here yesterday by Information Communication Technology and Courier Services Minister Kazembe Kazembe during the official commissioning …

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ED sued over RTGS currency

BY CHARLES LAITON Harare businessman and University of Zimbabwe (UZ) lecturer, Shakespear Hamauswa, has petitioned the High Court seeking a court order to declare unconstitutional the Presidential (Temporary Measures) Act, which President Emmerson Mnangagwa evoked as legal basis to introduce the RTGS$. Hamauswa also said he was seeking another court …

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