Stories

State owned enterprises are sitting on idle assets which could be listed on the newly demutualized Zimbabwe Stock Exchange (ZSE) for the benefit of the economy, Finance Minister Patrick Chinamasa has said.

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Zimbabwe’s exports are this year seen recovering by a marginal three percent, after declining by nearly 13 percent in 2013, but output of primary commodities is likely to remain weak with the manufacturing sector underperforming, according to a report by the country’s trade agency.

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Zimbabwe’s Special Court for Income Tax Appeals has ruled that platinum miner Zimplats must pay additional profit tax incurred in the last 10 years to 2014, ending the long running dispute, the company reported today.

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President Robert Mugabe is still not free to travel to Europe even on African Union business, Britain’s Minister of State (Foreign and Commonwealth Office) Baroness Anelay of St Johns told the House of Lords yesterday.

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The government should negotiate packages for civil servants before retrenching them, the Tsvangirai faction of the Movement for Democratic Change said in a statement today.

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Creditors of the collapsed Royal Bank who are owed $9 million will only get $3 million from the sale of the bank’s assets and today passed a resolution for a forensic audit which could lead to the prosecution of its directors if found guilty of its failure.

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Zimre Property Investments (ZPI) reported a 600 percent fall in after tax profit to $253 000 for the full year to December on rising voids and a fall in demand for real estate, a symptom of an underperforming economy.

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Chimurenga music guru Thomas Mapfumo is not a member of the Movement for Democratic Change-Tsvangirai so to allege that he has been roped in by the MDC in carrying out treasonous activities is the height of insanity and incredulity, MDC-T spokesman Obert Gutu said in a statement today.

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Quest Motors Corporation (QMC) has secured multi-million dollar contracts to assemble and supply a wide-range of vehicles to the government, a development which will breathe life into the struggling company, an official has said.

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The Tsvangirai faction of the Movement for Democratic Change today said that it was worried about President Robert Mugabe’s frequent absence from Zimbabwe while the economy continues to nosedive.

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