Fuel shortage rocks Zim

ZIMBABWE’S economic challenges continue to mount with key towns, Beitbridge and Victoria Falls, running out of fuel. BY REX MPHISA The fuel shortage comes at a time the country is facing a wave of price increases, which observers say are linked to foreign currency shortfalls. Motorists in Beitbridge, sub-Saharan Africa’s …

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$10 million for export credit guarantee

GOVERNMENT has injected $10 million into the Export Credit Guarantee Corporation of Zimbabwe (ECGC) in a bid to promote the growth and diversification of the country’s export trade, an official has said. BY MTHANDAZO NYONI ECGC is an export credit agency (ECA) wholly owned by the Reserve Bank of Zimbabwe …

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Huge turnout at Sanganai expo

Prosper Ndlovu Bulawayo Bureau Several companies were still trickling to Bulawayo yesterday for the on-going 11th edition of the Sanganai/Hlanganani World Tourism Expo, which has received overwhelming response from local exhibitors and international buyers. The City of Kings is hosting one of Africa’s prime tourism and travel showcases, which has …

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Delta invests $260k in road upgrade

Business Reporter Delta Corporation, a key player in economic development, has invested over $260 000 towards the upgrade of a road junction that links its Fairbridge Chibuku Super plant with the Harare-Bulawayo Highway. Even after the refurbishment of the Plumtree — Harare — Mutare highways by Group Five to the …

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First Lady donates 50 laptops

Hilda Muchamiri Herald Correspondent The donation of 50 laptops to Rufaro High School in Masvingo by First Lady Amai Auxillia Mnangagwa, is expected to democratise the use of modern technology in the country. Amai Mnangagwa made the donation through Angel of Hope Foundation, during the Apostolic Faith Mission (AFM) annual …

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Gold trades lower

According to Angel Commodities, yesterday, spot gold prices declined by 0,78 percent to close at 1191. On the MCX, gold prices followed the same trend and declined 0,49 percent during the same time frame. Yesterday, spot gold prices declined by 0,78 percent to close at 1191. On the MCX, gold …

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Wheat supply situation under control: RBZ

Enacy Mapakame Business Reporter The Reserve Bank of Zimbabwe Governor  Dr John Mangudya yesterday said the wheat supply situation in the country was under control despite reports that six  millers had suspended operations due to shortages. Dr Mangudya said the situation was “under control” as the central bank had put …

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Rand weakens

South Africa has gone into recession after its economy shrank by 0,8 per cent in the second quarter of the year. A recession is technically defined as when an economy contracts over two consecutive quarters. The main reasons behind the contraction in the second quarter were slowing agriculture, transport and …

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Emerging markets reel as dollar flexes muscles

LONDON. – The sell-off in emerging markets gathered pace on Wednesday and global stocks fell for the fourth day in a row as a looming deadline in the US-China trade conflict kept the dollar holding firm near two-week highs. A public comment period on the possibility of fresh US tariffs …

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Anti-corruption body to probe commercial fraud

The Zimbabwe Anti-Corruption  Commission (ZACC) yesterday announced plans to investigate commercial  crimes such as cash hoarding by corporates as it is now capacitated to conduct investigations countrywide.  Previously, ZACC was only conducting investigations in the capital and could not open offices outside Harare or recruit staff, owing to lack of  …

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