The Insider

Zambia says local companies could boost bilateral trade by investing in its insurance sector with its resources driven economy maintaining strong economic growth rates, Zambia’s ambassador to Zimbabwe Ndiyoi Mutiti said.

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Movement for Democratic Change leader Morgan Tsvangirai today unveiled his state-of-the-nation address in which he said the return to legitimacy through a credible election is the only durable and acceptable answer to the crisis facing the country.

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Vice-President Emmerson Mnangagwa says he never takes newspaper articles seriously.

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Global giant Rio Tinto Plc yesterday announced the sale of its diamond and coal mining assets in Zimbabwe to RZ Murowa Holdings, marking the withdrawal of one the world’s iconic mining firms from the country after a 60 year presence.

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Listed property developer Zimre Property Investments(ZPI) has reported a 29 percent decline in operating profit in the five months to May on reduced occupancy levels.

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Listed manufacturer of conveyor belts, General Beltings Holdings says a deal with Zimplats to provide the platinum miner with specialized equipment has allowed it to improve production levels, improving its capacity utilisation to 66 percent.

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A Zimbabwean state-owned asset management company has so far taken nearly $100 million in bad loans from banks to help restore viability in the financial sector, finance minister Patrick Chinamasa has said.

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Movement for Democratic Change leader Morgan Tsvangirai is expected to present his state of the nation address at the Exhibition Park in Harare tomorrow.

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Former Masvingo Provincial Affairs Minister Kudakwashe Bhasikiti has won the first round of challenging his expulsion from the Zimbabwe African National Union-Patriotic Front which led to his expulsion from Parliament.

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Zimbabwe’s tax agency says unpaid levies have doubled to over $1 billion over the last two years as the economy tilts towards the informal sector due to company closures, warning that it could miss this year’s revenue targets with dire repercussions for Treasury.

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