News

Listed property developer Zimre Property Investments(ZPI) has reported a 29 percent decline in operating profit in the five months to May on reduced occupancy levels.

(225 VIEWS)

Listed manufacturer of conveyor belts, General Beltings Holdings says a deal with Zimplats to provide the platinum miner with specialized equipment has allowed it to improve production levels, improving its capacity utilisation to 66 percent.

(237 VIEWS)

A Zimbabwean state-owned asset management company has so far taken nearly $100 million in bad loans from banks to help restore viability in the financial sector, finance minister Patrick Chinamasa has said.

(218 VIEWS)

Movement for Democratic Change leader Morgan Tsvangirai is expected to present his state of the nation address at the Exhibition Park in Harare tomorrow.

(517 VIEWS)

Former Masvingo Provincial Affairs Minister Kudakwashe Bhasikiti has won the first round of challenging his expulsion from the Zimbabwe African National Union-Patriotic Front which led to his expulsion from Parliament.

(335 VIEWS)

Zimbabwe’s tax agency says unpaid levies have doubled to over $1 billion over the last two years as the economy tilts towards the informal sector due to company closures, warning that it could miss this year’s revenue targets with dire repercussions for Treasury.

(238 VIEWS)

Zimbabwe has ruled out shutting down companies failing to comply with its indigenisation law, opting for engagement but admits failing to enforce the legislation with some firms ignoring it completely, a junior minister told Parliament today.

(319 VIEWS)

British tycoon Nicholas van Hoogstraten planned to give global commodities giant Glencore Plc a management contract to turn around Zimbabwe’s struggling Hwange Colliery Company as part of a $50 million rescue package in 2013, a local financial newspaper reported today.

(421 VIEWS)

Zimbabwe’s foreign direct investment leapt to $545 million in 2014 – less than 5 percent of the country’s GDP —  from $400 million in the previous year, driven by interest in mining, infrastructure and services but still lags regional rivals, the latest United Nations world investment report has shown.

(331 VIEWS)

Zimbabwe has marshalled nearly $400 million towards water and sanitation since the introduction of the multiple currency system in 2009 but huge funding gap remains, with $4 billion required to upgrade infrastructure, Treasury secretary Willard Manungo said yesterday.

(283 VIEWS)