News

Tourism Minister Walter Mzembi said this week it is still possible for Zimbabwe to host the 2034 Soccer World Cup.

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The number of Chinese visitors to Zimbabwe shot up by 62 percent from 1 202 in the first quarter of last year to 1 952 during the same period this year, the Chinese news agency Xinhua reported.

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Zimbabwe is still committed to paying Rhodesian pensioners but it currently does not have the money.

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Total banking sector credit to the domestic economy increased by 16 percent to $4.8 billion in May, from $4.5 billion in April 2015 as the banks increased exposure to agriculture and individual borrowings, latest central bank figures have shown.

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Zimbabwe’s PER Lusulu Power has signed an agreement with China State Construction Engineering Corp Ltd to build a coal power station in April next year, company officials said yesterday.

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Courier firms operating in Zimbabwe say  illegal cross border runners are dominating the courier business and the country could be losing millions of dollars in untaxed informal transactions.

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ZB Financial Holdings says it has secured $20 million in interest free loan from one of its major shareholders its subsidiary, ZB Bank Limited, to boost its capital base and that its performance in the first four months of the year were above budget.

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The parliamentary portfolio committee on indigenisation yesterday quizzed three mining firms about their dealings with advisory firm Brainworks Capital in controversial indigenisation deals, most of which failed to succeed.

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Tobacco processor and exporter, Mashonaland Tobacco Company (MTC) today lost tobacco worth millions of dollars after a fire broke out at one of its warehouses, officials said.

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The government has passed a new law that shields the country’s largest medical aid society from facing litigation from its creditors as it restructures the parastatal’s debt.

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