Gold falls

Gold prices fell yesterday as an escalating trade conflict between Washington and Beijing weighed on the yuan, denting demand in the world’s biggest consumer of the metal, China. Spot gold was down 0,2 percent at $1,283.63 an ounce at 1031 GMT. US gold futures slipped 0,3 percent to $1,284.20. “Gold …

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Oil supply crunch

Oil production capacity could fall to under 1 percent of global oil demand by the end of the year if OPEC compensates falling production from Iran and Venezuela, leaving oil prices exposed to sharp swings in the event of unplanned outages, analysts say. Spare capacity is the extra oil a …

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Zimbabwe hosts inaugural Investor Day Conference

Enacy Mapakame Business Reporter Zimbabwe will tomorrow host the inaugural Investor Day Conference in Harare to foster interactions on unlocking economic value through capital markets. Over 300 delegates comprising market intermediaries, regulatory bodies, high net worth investors, retail investors, potential investors and government officials are expected to participate at the …

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Industry cries foul over load-shedding

Kudakwashe Mhundwa Business Reporter CRIPPLING power cuts being experienced across the country might worsen the plight of local industries that are already battling to remain afloat given the challenging macro-economic environment, the country’s biggest industrial lobby group, Confederation of Zimbabwe Industries (CZI) has said. Zimbabwe is facing renewed challenges around …

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Prices slide as ‘customer is king’ kicks back

Tawanda Musarurwa Senior Business Reporter Prices of some local products appear to have entered a self-correction mode as consumer demand is said to have declined by at least 40 percent. Just last week, listed beverages giant Delta Corporation, announced it was reducing retail prices for its soft drinks, which have …

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IMF speaks on Zim relations, economic progress

The International Monetary Fund (IMF) says the Staff Monitored Programme between the fund and Zimbabwe will put the country on a sustainable growth trajectory and help build a track record of sound economic policies as it seeks to normalise its relations with external creditors. The international fund also spoke on …

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Zesa to increase power imports

Golden Sibanda Senior Business Reporter State power utility Zesa Holdings is working on processes to increase power imports as part of concerted efforts to ameliorate the shortage of electricity due to reduced generation at Kariba South. Zesa is also reportedly weighing the possibility of using the 200 megawatt Dema diesel …

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WorldRemit records surge in diaspora remittances

INTERNATIONAL money transfer service, WorldRemit, has seen a 40% surge in customers sending money to Zimbabwe for cash collection through ZB Bank. In a statement, country director of Zimbabwe and head of sub-Saharan Africa at WorldRemit, Pardon Mujakachi said diaspora contributions are vital to upholding the education of children across …

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Factories’ pre-Brexit rush boosts UK economy

LONDON. — Britain’s economy got a sharp one-off boost in the first three months of 2019, official figures showed on Friday, as manufacturers rushed to deliver orders before a Brexit that never came. Gross domestic product grew at a quarterly rate of 0,5 percent in the first quarter of 2019 …

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