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Trade deficit widens by 34% in first half

ZIMBABWE’S trade deficit has risen by 34% to $1,26 billion for the period February to June 2018, an indication that efforts by government to correct trade imbalances were not bearing any fruits, latest trade data shows. BY MTHANDAZO NYONI During the same period last year, the trade deficit was $937,81 …

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Masiyiwa inks Cape to Cairo fibre network deal

Telecom Egypt has signed a memorandum of understanding with Liquid Telecom to enable the pan-African group to complete Africa’s terrestrial fibre network stretching across the African continent, the companies said on Saturday. Reuters Liquid Telecom, a subsidiary of Strive Masiyiwa’s Econet Wireless Global, has been building a fibre network across …

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CTC assessing Noic’s 50% acquisition of Petrozim

THE Competition and Tariffs Commission (CTC) has launched a probe into the acquisition of PetroZim’s 50% stake by the National Oil infrastructure Company of Zimbabwe (Noic), NewsDay has established. BY FIDELITY MHLANGA/TINOTENDA MUNYUKWI In an interview with NewsDay last week, CTC assistant director Benjamin Chinhengo confirmed the ongoing probe, but …

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RBZ increases cash injections to $150m

RESERVE Bank of Zimbabwe governor John Mangudya says the central bank has increased the foreign currency injections into the economy by 50% to $150 million a month to ease forex shortages. BY TATIRA ZWINOIRA This came amid reports that the exchange rate for the US dollar had hit the 100% …

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Access to clean energy: What role could the Chinese play?

Climate Story Jeffrey Gogo With the addition 300 megawatts more from the Kariba hydro-electric power plant earlier this year, new light was shed on the role of renewable energies not only as a means to improving electricity access in Zimbabwe, but also meeting national climate goals under the Paris Accord. …

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US stock futures drift

US equity-index futures struggled for traction as investors focused on second-quarter earnings, and as China’s record trade surplus with America served as a reminder that protectionist tensions aren’t going away. The pound fell as the Brexit quagmire deepened. Futures on the S&P 500, Dow Jones and Nasdaq fluctuated between gains …

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Afreximbank launches Africa’s due diligence data platform

ABUJA. — The African Export-Import Bank (Afreximbank) last week in Abuja launched “Mansa” — a pan-African customer due diligence platform that will facilitate African trade by providing the single trusted source of primary data required to conduct due diligence checks on counterparties in Africa. According to Afreximbank, the Mansa platform …

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UK stockbroker to woo FDI to Zim

Golden Sibanda Senior Business Reporter The Securities and Exchanges Commission of Zimbabwe (SECZ) has licensed a new strockbrocking firm, Morgan & Co, owned by British investors and two indigenous partners, which has pledged to influence the flow of foreign capital into Zimbabwe. The company, whose local partners are David Muchengeti …

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Zim Airways ready to fly

Africa Moyo Business Reporter Government says one of the four long haul planes acquired from Malaysia, the Boeing 777-200ER, has no mechanical problems and was only taken back to Kuala Lumpur for routine maintenance, which is a prerequisite even if it is not flying. Aeroplanes have a strict regime of …

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Cotton inputs distribution begins

Business Reporter About 400 000 households are set to benefit from the Presidential Cotton Input Scheme this year as Government continues supporting the recovery of the lucrative cotton industry. This was said by Lands, Agriculture and Rural Resettlement Minister Perrance Shiri, at the launch of this year’s scheme in Dande, …

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