News

A visiting United States trade delegation, which is in the country on a rare trade visit, says it is impressed by the business opportunities in Zimbabwe and promised a follow-up visit next month for further talks.

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Defence Minister Sydney Sekeramayi yesterday said that the army will not move in to drive illegal vendors out of cities and towns.

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Zimbabwe’s largest short-term insurer NicozDiamond says performance for the first four months of the year is on par with last year, but future growth will be driven by greenfield projects and a strong performance by its Malawi unit.

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Information Minister Jonathan Moyo has told former Vice-President Joice Mujuru that she is free to play with fire if she so wishes but “mhosva haiwori”.

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Zimbabwe’s second largest apple farm, Nyanga Downs, which at its peak accounted for a third of the country’s total output, has been offered to a German investor in a bid to clear debt owed by its troubled parent company, currently under administration, the High Court has heard.

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Mashonaland Holdings’ profit after tax fell 40 percent to $930 000 in the six months to March 31 due to falling rental income and weakening occupancy levels, the company said.

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The excessive tariffs being imposed on Independent Power Producers (IPPs) by several government departments are preventing energy projects from taking off, an industry expert has said.

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Turnover on the Zimbabwe Stock Exchange for the five months to May fell 40 percent to $122 million compared to the same period last year, official figures have shown, with analysts attributing the poor performance to weakening stock prices and anaemic economic fundamentals.

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First Mutual Life Holdings’ health insurance arm has received over $1.5 million in fraudulent claims in the first four months of the year as cases of scamming in the sector increase, chief executive Douglas Hoto has said.

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