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Seed Co Invests Us$10m in Dryers

By Enacy Mapakame ZIMBABWE’s largest seed producer, Seed Co Limited is investing US$10 million towards development of seed-drying facilities to expedite delivery of seed to the market and reduce losses. The seed-drying technology, to be piloted in Zimbabwe first before being introduced in Seed Co’s other regional markets, is expected …

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Barcelos Opens Shop in Harare

By Princess Ncube South African fast-food giant Barcelos Flame Grilled Chicken restaurant is set to open its first Harare branch this week, following the opening of another outlet in Bulawayo. Barcelos is a renowned international restaurant worldwide famous for marinated Portuguese styled peri-peri chicken. Company director Benson Muneri said the …

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Aurex Revises Pricing Structures

JEWELLERY consumers are warming up to Aurex (Pvt) Limited’s new pricing structure of 70 percent foreign currency and 30 percent RTGS, bond notes or mobile money, amid indications that the firm recorded sales of US$30 000 in November. Aurex, a top jewellery manufacturer set up in 1992, revised its pricing …

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Ecobank Gives Back to Society

By Africa Moyo ECOBANK Zimbabwe officials have invested thousands of dollars back into the community in line with the pan-African financial institution’s philosophy. The bank’s staffers recently spent a day at Mother of Peace Children’s Home in Mutoko and Sigombe Primary School in Nkulumane, Bulawayo. At Mother of Peace Children’s …

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LG Foods plans to boost capacity

Africa Moyo Senior Business Reporter GOVERNMENT’S drive to reindustrialise Bulawayo is gathering pace, with LG Foods Industries planning to ramp up production to 100 percent by Mach next year, from the current 40 percent capacity utilisation. LG Foods, which is into laundry soap and concentrates making, wants Government to resolve …

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Zim explores markets for lithium carbonates

Zimbabwe is on the verge of attaining global prominence through the widely sought after lithium after fledgling lithium mining company, Prospect Resources, recently exported 100 kilogrammes of lithium carbonate — used in the production of electric vehicles batteries — to Australia. The lithium carbonate consignment is reportedly ready for distribution …

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Oil prices edge up

Oil prices edged higher on Thursday, after data showed inventory declines in the United States and as investors began to expect that the global oil market could have a deficit sooner than they had previously thought. OPEC’s output agreement with Russia and Canada’s decision to mandate production cuts could create …

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Mining sector revolution gathers pace

The transformation of the mining sector is gathering momentum as the country seeks to generate more revenue from value addition, with President Emmerson Mnangagwa expected to commission Anglo-Platinum’s smelter at Unki Mine in Shurugwi next week. Zimbabwe, just like a host of other third world countries, has been feeding off …

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Gold prices flat as dollar steadies, equities tick up

Gold was little changed on Thursday as the dollar steadied and equities climbed on signs of easing trade tensions between the United States and China, while palladium rose to a record high, trading at a premium to the bullion. Spot gold was steady at $1,245.55 per ounce at 0806 GMT, …

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Intratrek wins $25m ZPC lawsuit

The Zimbabwe Power Company (ZPC) has lost a High Court case in which local private firm, Intratrek Zimbabwe, had sought an order declaring a multi-million dollar contract signed between the parties on the Gwanda solar project valid or alternative payment of $25 million damages for contract breach. This comes after …

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