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Simbisa cuts diesel need by 15%

BY TATIRA ZWINOIRA FAST food company, Simbisa Brands Limited (SBL) says importation of more efficient machinery has seen the firm reduce its diesel usage by 15% to about 110 000 litres monthly. In August, Simbisa reported that it was spending $780 000 on diesel monthly to run generators at its …

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Fuel Finder application launched for motorists

BY TATIRA ZWINOIRA LOCAL ride sharing service, TODA Zimbabwe has launched “Fuel Finder”, a mobile application to provide motorists with fuel stations that are stocked amid nationwide shortages. “The Fuel Finder application which we are launching today, seeks to eliminate most other challenges faced by motorists, especially during the season …

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Exchange Traded Funds

Exchange Traded Funds (ETFs) are professionally managed, pooled and listed investments funds. The investment fund typically invests in a basket of shares, currencies, commodities or other securities and investors buy units from the fund, which units are listed on an exchange. This makes an ETF a basic derivative as the …

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Bailey appointed Bank of England governor

Andrew Bailey has been appointed as the next governor of the Bank of England. Mr Bailey, aged 60, is currently chief executive of the Financial Conduct Authority (FCA), the City watchdog. He will become the 121st governor of the Bank of England, taking over from Mark Carney, and will serve …

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Palladium gains 60pc

This year has been good for commodities, with palladium leading the way with a gain of nearly 60 percent. The precious metal has continued to notch new highs, stealing the spotlight from cheese and milk prices. Commodities’ performance in 2019 has been affected by distortions created by protectionist tariffs, moderation …

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NSSA appoints interim GM

Public Service, Labour and Social Welfare Minister Professor Paul Mavima on Friday announced the appointment of Arthur Manase as acting general manager for the state controlled pension fund, the National Social Security Authority (NSSA). Manase, who is an experienced legal practitioner, is a member of the current NSSA board, which …

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ART records 12pc volume increase

Michael Tome and Panashe Chikonyora AMALGAMATED Regional Trading (ART)’s solar and Industrial batteries division recorded 12 percent volume increase for the year up to 30 September 2019 compared to the same period in 2018 on the back of power outages that saw domestic and business electricity consumers sourcing alternative sources. …

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Land reform not root cause of Zim’s food crisis

Jeffrey Gogo Anna Brazier, a respected sustainable development expert from Harare, has rejected claims the fast-track land reform is to blame for the current food shortages in Zimbabwe — at least not in large parts. “It (food security crisis) has deep historical, political, economic and ecological roots,” Brazier opined, in …

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Gold price forecast 2020

Gold looks set to end the year with double-digit gains and is likely to maintain its upward trajectory in 2020. At press time, the yellow metal is trading at $1 477 per Oz, representing 15,25percent gains on a year-to-date basis. Anything above 13,2percent would be the biggest yearly gain since …

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Project Crystal to rescue Hippo Valley

Fradreck Gorwe Zimbabwe Stock Exchange listed sugar producing company – Hippo Valley Estates – is geared to pursue a game-changing turnaround strategy code named “Project Crystal.” The holding company, Tongaat Hulett, promulgated the strategy meant to reduce costs, increase value and reposition all sub-Saharan operations and bring them back to …

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