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Platinum strike: R13bn lost and counting
Unions are seeking a big increase in miners’ salariesJohannesburg. — About a fifth of South Africa’s annual platinum production has been lost to an eight-week strike that has cost the country more than...
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Dairibord still bullish
ANTHONY MANDIWANZAGolden Sibanda Senior Business Reporter DAIRIBORD Zimbabwe Holdings says it has an ace up the sleeve and contends its 2014 prospects look bright despite posting depressing results...
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starafrica, Sefalana in share deal
Happiness Zengeni Business Editor BOTSWANA Stock Exchange-listed Sefalana Holdings intends to buy starafrica corporation’s 33 percent stake in Tongaat Hullet in a deal that could be worth $6 million....
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Implats shows interest in Zim refinery
Golden Sibanda Senior Business Reporter Zimplats controlling shareholders, South Africa’s Impala Platinum, have “interesting” ideas regarding establishment of a precious metals refinery, a senior...
View ArticleUS economy’s outlook bright
Washington.-US big banks have enough capital buffers to withstand a drastic economic downturn, the Federal Reserve said on Thursday, announcing that 29 out of 30 major banks met the minimum hurdle in...
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Greece maintains credit rate
Christos StaikourasNew York — Greece’s credit rating was maintained at six steps below investment grade by Standard & Poor’s, which said the country’s debt remains large even as its government’s...
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EU shuts failing euro-zone banks
Mario DraghiBrussels — Europe took the final step to complete a banking union last Thursday with an agency to shut failing euro zone-banks, but there will be no joint government back-up to pay the...
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US unemployment falls
Janet YellenWashington. – The number of Americans filing for jobless benefits hovered near three-month lows last week and factory activity in the Mid-Atlantic region rebounded this month, suggesting...
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Radar replacement can revolutionise disaster response
Jeffry Gogo Climate Story THE Meteorological Services Department has revealed it needs at least US$12 million purchase and replace four essential weather radars that can revolutionise the manner that...
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Cheap imports costing Zim $120m annually
Tinashe Makichi Business Reporter Zimbabwe could be losing about $120 million in potential revenue annually through relaxed duty on imported fabric and smuggling, the Zimbabwe Clothing Manufacturers...
View ArticleSluggishness hits insurance sector
Business Reporter Short-term insurers have recorded a marked drop in annual growth in the volume of business written due to low liquidity levels and depressed industry capacity utilisation. According...
View ArticleSedco courts investors for SME bank
Business Reporter SEDCO is courting investment partners to raise capital required for setting up an SME bank, Small and Medium enterprises, Co-operative Development Minister Sithembiso Nyoni said. In...
View ArticleNSSA sweats over $4,2m investment
Business Reporter The National Social Security Authority is struggling to realise a return on the $4,2 million pumped into Ekusileni Medical Centre as general manager Mr James Matiza acknowledged the...
View ArticleIs it time to divest from Turnall?
Linda Tsarwe After the so called “lost decade” banks found it difficult to rebuild public confidence in a dollarised economy. It was difficult for the public to trust the banking system after they lost...
View ArticleChinese-Zim joint venture on track
A LEADING Chinese-Zimbabwean joint venture is on track to complete a massive facility upgrade with $5 million invested by the Chinese share-holder, a senior company official revealed. After the...
View ArticleZimplats dam construction on course
ZIMPLATS is set to complete the construction of a dam at a cost of more than $20 million to be used to boost water supply for its new concentrator, an official has said. Zimplats head of corporate...
View ArticleGovt cuts most mining fees
Business Reporter Zimbabwe has significantly cut most mining fees while scrapping the $5 million registration fees for diamonds, according to a Government notice published last week. According to the...
View ArticleNSSA gives $5,3m to Star Africa
The National Social Security Authority (NSSA) says it has advanced about $5,3 million to Star Africa Corporation for the firm to acquire new sugar processing equipment. Star Africa, the country’s only...
View ArticleFinally, the right person for the job!
Golden Sibanda Business Reporter Government was always never going to look further than seasoned banker and economist, Dr John Panonetsa Mangudya, to fill in the position of substantive Governor of the...
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ZSE trading on a free fall
Sentiment on the Zimbabwe Stock Exchange has gone on a free fall, bearing testimony to the dwindling appetite for local shares, affecting the viability of stockbroking companies. The ZSE is at the...
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