Don’t write off Iran’s president yet

ISTANBUL. — The Iranian president’s signature achievement, a landmark nuclear deal with world powers, is starting to unravel, and his economy is in distress even before renewed US sanctions begin to bite, with Iran’s currency swooning to record lows against the dollar. His domestic opponents are clamouring for his resignation. …

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Caledonia targets 80 000 ounces by 2021

Caledonia Mining Corporations says it is on course to achieve gold production output of 80 000 troy ounces (about 2,4 tonnes) by 2021 at its Blanket Mine, although production during the quarter to March 2018 remained flat. Caledonia is also targeting to meet Blanket Mine’s production guidance of 55 000 …

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Nigeria leads on pan-African free trade

LAGOS. — Nigeria is in a position of leadership on a proposed Africa-wide trading bloc despite not having signed up to the agreement, the managing director of commercial lender Ecobank Nigeria told CNBC. Nigeria has “shifted the balance of power,” and “put itself in the situation where they now have …

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Govt to build 10 hospitals

Livingstone Marufu Property Reporter Government has revived plans to construct 10 state-of-the-art memorial hospitals for war veterans in each province as it seeks to improve the welfare of former freedom fighters, collaborators, detainees and other groups that participated in the country’s liberation struggle. This comes after President Mnangagwa’s administration said …

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Zimra surpasses April target

Livingstone Marufu THE Zimbabwe Revenue Authority (Zimra) says it surpassed its gross revenue target for April 2018 by 9,81 percent to reach $361,88 million. Zimra acting corporate communications head Taungana Ndoro, said the strong performance was on account of a number of measures the authority put in place to improve …

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No winter blackouts

Business Reporter Power utility Zesa Holdings, says it has put in place measures to ensure that there will be no blackouts during winter when demand for electricity increases. Zimbabwe has not experienced major power blackouts since December 2015 and the supply is expected to remain stable in the foreseeable future, …

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New dispensation real boon for tourism

Isdore Guvamombe recently in DURBAN, South Africa Since the coming in of the new political dispensation in Zimbabwe, tourism receipts have dramatically increased and statistics from the Victoria Falls alone, can confirm, captains of the tourism industry have said. Hotels in the Victoria Falls, it emerged, are now fully booked …

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Govt eyes one-stop-shop investment centre

Herald Business Correspondent GOVERNMENT has started gathering input from the private sector on the possible merger of six entities to form a one-stop shop investment centre. According to preliminary work, eight entities have been proposed to be part of the one-stop-shop, but only three are likely to be wholly merged …

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10pc export incentive for cotton farmers

Livingstone Marufu Business Reporter The Reserve Bank of Zimbabwe (RBZ) has extended its export incentive to cotton farmers who are set to receive an additional 10 percent over and above proceeds for the crop delivered to registered private companies who provided them farmers with inputs. Since 2016, the central bank …

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Central bank enhances measures for external capital flows

Tawanda Musarurwa Senior Business Reporter The Reserve Bank of Zimbabwe (RBZ) is working on strengthening its legal, institutional and regulatory frameworks to effectively ring-fence foreign investments to enable investors to repatriate funds without difficulty. This is further progress to the announcement made by RBZ governor Dr John Mangudya in the …

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