Divided nation, broken economy face Zim’s new leader

President Emmerson Mnangagwa’s tenure as Zimbabwe’s newly-elected president got off to a rocky start. President-elect Emmerson Mnangagwa He narrowly secured a five-year term in an election marred by opposition allegations of rigging and the deaths of six people when soldiers fired live rounds at protesters in the capital, Harare. Details …

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AirZim, Zim Airways merger in limbo

Africa Moyo Business Reporter GOVERNMENT is understood to have abandoned its plan to merge the boards of Air Zimbabwe and Zimbabwe Airways amid indications that a new strategy to revive the national airline has been crafted. Details of the new initiative to turnaround Air Zimbabwe, which is burdened by legacy …

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EMA softens for miners

Ishemunyoro Chingwere Business Reporter Small-scale miners will no longer need to pay high environmental consultation fees and go through a lengthy process to obtain Environmental Impact Assessment licences after the Environmental Management Agency and the Zimbabwe Miners’ Federation reached an agreement to simplify the exercise. The move is part of …

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Gold extends rally

Gold prices inched higher yesterday, extending their recovery from a 17-month low, amid lingering worries over the US-China trade conflict, while a stronger US dollar capped the safe haven’s gains. Spot gold was up 0,2 percent at $1,215.71 an ounce at0410 GMT, building on its 0,5 percent gain on Friday. …

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Industry ready to complement new Govt

Michael Magoronga Midlands Correspondent THE manufacturing industry has expressed readiness to work with the incoming Government led by President-elect, Emerson Mnangagwa in turning around the fortunes of the country’s economy. According to Confederation for Zimbabwe Industries (CZI) President Mr Sifelani Jabangwe, the manufacturing industry is ready to engage the new …

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fastjet enhances services

Business Reporter BUDGET airline, fastjet yesterday announced that it will include the first item of checked luggage as well as a snack on all tickets sold. Previously, fastjet charged all luggage and on-board snacks separately. The move follows several months of research into market trends and customer expectations with the …

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Private sector could demand salary hike

Tawanda Musarurwa Senior Reporter The civil service salary increment may prompt workers in the private sector to demand pay hikes, according to analysts at IH Securities. Earlier this year, the Government increased civil servants’ salaries by 15 percent. And the analysts are of the opinion that employees in the private …

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Oil gains

LONDON. — Oil rose yesterday after Saudi crude production unexpectedly fell in July and US drilling appeared to slow, although the price is still almost 10 percent below its 2018 high of more than $80 a barrel. Markets also anticipated an announcement from Washington later yesterday on renewed US sanctions …

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Retailers hail ED’s elections victory

Golden Sibanda Senior Business Reporter The Confederation of Zimbabwe Retailers (CZR) has congratulated President Mnangagwa following his victory in the July 30, 2018 harmonised elections and said focus should now shift to the number one challenge facing Zimbabwe — the economy. Deep seated economic challenges, CZR said, that faced the …

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New hotel facility for CBD

Tawanda Musarurwa Property Reporter Zimbabwe’s capital city is set for a major facelift, in view of plans by a yet to be named developer expected to construct a multi-use complex in Harare’s central business district (CBD). The piece of land where the proposed development is supposed to take place is …

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