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  • MASVINGO EVICTS 20 SMEs newsdzeZimbabweNewsdzeZimbabwe

    July 22, 2017 7:52 AM 3

    Nearly 20 people running small to medium enterprises (SMEs) at Masvingo’s People’s Shop have been evicted over non-payment of rentals amounting to more than $50 000. Masvingo Informal Traders’ Association (MITA) director Mr Gilbert Chikwata who had a lease agreement with council for the use of the premises said they stopped paying rentals in 2015 after

  • Reliance Industries' Triple Play

    July 21, 2017 11:29 AM 6

    Reliance Industries Ltd.'s unexpected 1-for-1 bonus issue, which Chairman Mukesh Ambani unveiled at the company's 40th annual general meeting on Friday, gave a further boost to shares that are already the second-best performing this year on India's benchmark index. The last time India's most-valuable company gave one free share for each held was in October

  • Cabinet moves to plug financial leakages

    July 21, 2017 12:23 AM 6

    By their nature, illicit financial flows take complex structures and also use non convention practices such as physical smuggling of cash out of the borders, making it difficult for authorities to monitor and plug leakages. The complexities of the world of illicit financial flows will however not deter the Zimbabwean Government as it emerged Cabinet

  • Facebook to launch news subscription model later this year

    July 19, 2017 9:22 AM 14 1

    Speaking at the Digital Publishing Innovation Summit yesterday, Facebook's head of news partnerships Campbell Brown said that the platform was launching a subscription product to satisfy newspaper and digital publishers. The plan is to steer readers to the publisher's home page so they can subscribe, and to erect a paywall that will require readers to subscribe

  • UK inflation surprises with June slowdown, easing pressure on Bank of England

    July 18, 2017 8:36 AM 5

    British inflation unexpectedly slowed for the first time since October last month, adding to the likelihood that the Bank of England will keep interest rates at a record low in August. Consumer prices rose by 2.6 percent compared with a year earlier, the Office for National Statistics said on Tuesday, down from a nearly four-year high of 2.9 percent

  • IMF raises red flag over cash crisis

    July 16, 2017 6:08 AM 3

    The International Monetary Fund (IMF) has blamed Zimbabwe’s unrelenting cash shortages on government’s runaway spending and a comatose economy. IMF’s outgoing mission chief for Zimbabwe Anna Lucia Coronel, speaking after the fund’s recently concluded country consultations, said the Reserve Bank of Zimbabwe’s cash reserves were critically low. The IMF delegation

  • Metallon Gold Zimbabwe in court for externalising $31m

    July 15, 2017 3:01 AM 3

    METALLON Gold Zimbabwe (Pvt) Ltd yesterday appeared at the Harare Magistrates’ Court charged with contravening sections of the Exchange Control Act after allegedly externalising $31 million. The company, which was represented by its secretary, Hapson Makotore, appeared before magistrate Josephine Sande, who remanded the matter to August 30 pending finalisation

  • Angry Food Outlets Defy Govt’s Ban Of Kaylite Packaging

    July 14, 2017 12:31 PM 3

    The Environmental Management Agency on Wednesday invoked Statutory 84 of 2012 which prohibits the manufacturing or importation of expanded polystyrene (kaylite) for or commercial distribution within Zimbabwe.Businesses that continue using kaylite face a $5 000 fine and or up to one year in prison. “We were shocked when we read about the ban in this morning

  • Zimra surpasses revenue target by 8,5%

    July 14, 2017 3:31 AM 22

    THE Zimbabwe Revenue Authority (Zimra) has surpassed its revenue target by 8,5%, collecting $1,789 billion for the first half of the year, from a target of $1,656 billion, which has been attributed to enhanced revenue collection initiatives implemented during the period. During the corresponding period last year, Zimra collected $1,55 billion. In a statement

  • Zimra collects $1.7bln in H1, surpasses target

    July 13, 2017 11:43 AM 20

    HARARE, – Zimbabwe’s state net revenues amounted to $1,7 billion in the half year to June 30, 2,72 percent above target and 9,74 percent higher than the comparable period last year, the tax agency said on Thursday. Zimbabwe Revenue Authority (ZIMRA) chairperson, Willia Bonyongwe said gross collections for the first half stood at $1,789 billion , 8,05 percent