Stories

Industry minister Mike Bimha says the lifting of sanctions by the European Union has broadened the scope for local industry to do business with the bloc and access to foreign investment.

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Bindura Nickel Corporation (BNC) yesterday reported a 117 percent surge in revenue to $46.4 million for the six months to September 30, compared to $21.4 million recorded in the same period last year on rising demand and firmer prices.

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Zimbabwe’s largest platinum miner Zimplats has begun redeveloping its biggest underground mine, which was shut down after one of its sections collapsed early this year, the company announced today.

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Bulawayo-based textile firm Merlin has secured an investor to pour in $30 million to resuscitate operations at the troubled textile company, major shareholder Delma Lupepe has said.

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Government will carry out due diligence audits for 15 out of the 91 state-owned enterprises and parastatals as treasury seeks to reform the largely loss-making entities that continue to drain the fiscus, Finance Minister Patrick Chinamasa said today.

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President Robert Mugabe has announced a new politburo in which he has abolished the post of national chairman with previous chairman, Simon Khaya Moyo being dropped to secretary for information and publicity. Here is the line-up:

(281 VIEWS)

The World Bank has extended a $75 million grant to Zimbabwe under its International Development Association to rehabilitate the country’s largest man-made lake and boost its energy generating capacity.

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Zimbabwe’s fuel price level cannot be compared with other countries as they have different cost structures, the state energy regulatory authority has said.

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Zimbabwe’s public sector is perceived to be one of the most corrupt in sub-Saharan Africa, only coming second to Angola in the southern African region, a report has shown.

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A unit of Redcliff-based steel manufacturer, Steelmakers is seeking a $155 million loan to increase its sponge iron output to 300 000 tonnes from the current 30 000, a company official has said.

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