Zim receives 3 000 tonnes wheat consignment

BY FIDELITY MHLANGA The delivery is part of the 30 000 tonnes consignment paid for by the central bank last month. Grain Miller Association of Zimbabwe (GMAZ) chairperson Tafadzwa Musarara yesterday said the 30 000 tonnes consignment would be enough for 22 days. “We have four companies which have received …

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Zim imports 90% of mining requirements: minister

NEARLY 90% of raw materials and consumables used by the mining sector are being sourced offshore, an indication that the local manufacturing sector is in the doldrums, Industry and Commerce deputy minister, Rajeshakumart Modi has said. By Mthandazo Nyoni Addressing delegates attending the Mining Industry Suppliers Forum held in Bulawayo …

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KFC shuts down over pricing crisis

Fast food franchise KFC has temporarily shut down its outlets in Zimbabwe citing foreign currency challenges and supply problems. BY BUSINESS REPORTER “KFC Africa has taken the decision to temporarily close our restaurants in Zimbabwe as we are unable to continue to trade due to the current pressure on the …

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Delta raps govt on currency policy

BEVERAGE manufacturer, Delta Corporation has urged government to engage with stakeholders before major policy pronouncements to maintain market confidence. BY FREEMAN MAKOPA Delta, the second largest company by market capitalisation on the Zimbabwe Stock Exchange after Econet Wireless, said latest policy pronouncements by the central bank were contrary to its …

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Diamond output anchors mining performance

MINING industry recorded strong performance during the first eight months of 2018, with the majority of key minerals posting significant output growth led by diamond at 22% increase, Chamber of Mines of Zimbabwe chief executive officer Isaac Kwesu has said. BY MTHANDAZO NYONI Chamber of Mines chief executive officer Isaac …

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Brexit to cost UK up to 5 000 city jobs

The UK government expects thousands of financial services jobs to have moved to the European Union by the time of the UK’s exit from the bloc. City minister John Glen said that the situation was “stable” as far as job movements were concerned. However, he agreed with Bank of England …

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Jica keen to fund Zim infrastructure, irrigation projects

The Japan International Agency (Jica) is keen to provide grant aid for infrastructure and irrigation projects in Zimbabwe that have a huge impact on Zimbabweans, an official has said. Jica’s official in charge of Zimbabwe Mr Kurisu Masanori said the size of grant aid to Zimbabwe averaged between $20 and …

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‘Negotiate rescue package from region’

Government should negotiate a rescue liquidity package from the region, particularly South Africa, to buttress economic stabilisation efforts and steer business growth, economic analysts have said. Contributing during a discussion to review the mid-term monetary policy statement organised by the Zimbabwe National Chamber of Commerce (ZNCC) Matabeleland Chapter in Bulawayo, …

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Rand steady

The South African rand was steady early yesterday, after strengthening the previous day on news that President Cyril Ramaphosa had appointed former central bank governor Tito Mboweni as finance minister. The rand was 0,03 percent stronger at 14,5500 per dollar at 0700 GMT, having closed in New York at 14,5550. …

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Oil edges lower

Oil prices edged lower yesterday after the IMF lowered its global growth forecasts but prices were supported as Hurricane Michael churned toward Florida, causing the shutdown of nearly 40 percent of US Gulf of Mexico crude output. Brent crude LCOc1 futures were down 21 cents at $84,79 a barrel by …

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