Zim ramps up efforts to boost trade

Enacy Mapakame Business Reporter Zimbabwe is working on several economic initiatives aimed at boosting the country’s competitiveness in the region, facilitate trade and attract the much needed foreign direct investment (FDI). This was said by Finance and Economic Development Minister Professor Mthuli Ncube, who also said that establishment of one-stop …

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Seed Co promotion delivers weighty results

Tawanda Musarurwa Senior Reporter Listed seed processor, Seed Co’s Eleven Tonne Plus Club Promotion, is delivering significant results, with maize farmers under the promotion achieving significant yields. The Eleven Tonne Plus Club Promotion is a programme targeting commercial farmers for soya bean, maize and other seeds in a bid to …

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‘Domestic resource mobilisation key to middle income economy’

Michael Tome Business Reporter Secretary for Finance and Economic Development George Guvamatanga says domestic resource mobilisation will play a pivotal role towards attainment of an upper middle income economy by 2030. Domestic resource mobilisation refers to the generation of savings from domestic resources and their allocation to economically and socially …

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Govt fight forex outflows

Africa Moyo Senior Business Reporter Soya bean hactarage has been increased by 11 000 hectares in the 2018 /2019 cropping season from the almost 22 000ha planted in the prior season, as Government battles to stem surging demand for foreign currency. Government is spending an average of $20 million per …

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Gold eases off

BENGALURU. — Gold prices inched lower yesterday, with some investors taking advantage of a recent surge in prices to lock in profits. Spot gold was down 0,2 percent at $1 231,41 an ounce at 1136 GMT. On Tuesday, it hit a more than three-month high of $1 239,68 as a …

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Rand, euro exchange rate drops 0,6pc

Tension among EUR traders leads to EUR/ZAR exchange rate losses. The Euro (EUR) has fallen by 0,6 percent against the South African Rand (ZAR) today, ahead of a key meeting of European Central Bank (ECB) policymakers. It should be noted that the Euro is trading positively against other peers, so …

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Indonesian-owned firm eyes exports

Africa Moyo Senior Business Reporter The first Indonesian firm in Zimbabwe, Amazing Shine Indozim, is set to start earning foreign currency for the country from exports of its products that include instant noodles and medical drugs. This was said by Deputy Ambassador of Indonesia in Zimbabwe, Dr Partogi Samosir while …

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‘Financial sector key in money laundering fight’

Tawanda Musarurwa Senior Reporter Zimbabwe’s financial services sector is critical in the battle against money-laundering, an expert has said. Money laundering basically refers to the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses. Addressing participants at a Macroeconomic and …

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ZimTrade, 9 firms ready to take on Botswana market

Bulawayo Bureau TRADE promotion organisation, ZimTrade, is facilitating the participation of nine Zimbabwean manufacturers at the Global Expo Botswana next week. The expo is one of the neighbouring country’s premium annual trade events and will be taking place from October 30 to November 2, 2018, in Gaborone. In a statement …

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Gold hits high

Gold prices spurted by Rs 150 to trade at this year’s high of Rs 32,500 per 10 grams at the bullion market yesterday on persistent buying by local jewellers amid a firm trend overseas. Silver, however, shed Rs 20 to Rs 39,730 per kg owing to reduced off-take by industrial …

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