Stories

The government is working on taking back the Cotton Company of Zimbabwe to revitalise the cotton industry which has seen production plummet from 350 000 tonnes in 2012 to an estimated 90 000 last year, Vice-President Emmerson Mnangagwa said.

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Higher Education Minister Jonathan Moyo says current job cuts are painful but they are lawful and represent the necessary self-correction to enable takeoff.

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Old Mutual Zimbabwe says it intends to provide infrastructure for the country’s growing informal sector as the company adjusts its products range to suit the changing economic environment, an official has said.

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The Movement for Democratic Change yesterday said the concern and grief that the world had shown for Cecil the lion that was killed by an American dentist last month should be transferred to activist Itai Dzamara who disappeared in March.

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Zimbabwe’s annualised inflation rate rose by 0.04 percentage points to -2.77 percent in July, compared to the June rate of -2.81 percent, the national statistics agency said yesterday.

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Sugar refiner starafricacorporation has narrowed its full-year loss to $7.2 million from $12 million in the prior year but its auditors have raised alarm over the group’s going concern status after it reported significant losses for the sixth year running, with its current liabilities exceeding assets by $52.2 million.

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Parliament, which had adjourned to 1 September, has been recalled to pass the Labour Amendment Bill which seeks to reverse the unilateral dismissal of employees that has been going on for the past month since the Supreme Court judgment which allowed employers to give workers only three months’ notice without any retrenchment packages.

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Gweru City Council is looking to set up a bio gas project from waste material to avert power problems at the city’s major pump stations, Amapongokwe and Gwenoro, which have disrupted water supplies, a council official has said.

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President Robert Mugabe’s government today issued new labour regulations that seek to reverse a July 17 Supreme Court ruling allowing employers to terminate contracts on notice, but analysts said the proposals could lead to more confusion and are open to legal challenge in their current form.

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Ousted former chief executive of resources group Mwana Africa, Kalaa Mpinga, and the firm’s former director Ngoni Kudenga have declined re-election to the board of  its 75 percent owned subsidiary, Bindura Nickel Corporation (BNC) at its annual general meeting to be held at the end of the month, BNC said today.

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