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Govt Avails $7m for Drugs

Government has availed nearly US$7 million for the purchase of medicines, a development set to ease drug shortages and price distortions. Some pharmacies were closed last week and those still operational resorted to charging in US dollars while some increased their prices by up to 500 percent. The worst affected …

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Zim Must Import Machinery – Makandiwa

Zimbabwe will only achieve sustainable economic recovery and growth if it imports machinery to boost production in agriculture, mining and other sectors of the economy, instead of borrowing money, United Family International Church founder Prophet Emmanuel Makandiwa has said. Giving a prophecy on the economy to thousands of people who …

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SADC Trade Unions Blast Zim Govt Over ZCTU Arrests

By Alois Vinga The Southern African Trade Union Coordination Council (SATUCC) has condemned last week’s arrest of union leaders and activists in Harare. Zimbabwe Congress of Trade Unions (ZCTU) leaders and several activists were arrested in clashes with riot police last Thursday as they protested new recently taxation imposed by …

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Regional Workers Group Slams Zim Crackdown On ZCTU

THE Southern African Trade Union Coordination Council (SATUCC) has “strongly condemned” the arrest and detention of Zimbabwe Congress of Trade Unions (ZCTU) leaders and activists during a foiled demonstration against government’s 2 percent tax on electronic transfers Thursday. In a statement, SATUCC executive secretary, Austin Muneku described the police action …

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Inconsistent policies draining Zim business confidence: Hanke

Renowned American economist, Steve Hanke says Zimbabwe’s new fiscal and monetary measures have left the market in a state of confusion, and opined that the country’s annual inflation rate had topped 200%. BY TATIRA ZWINOIRA Finance minister Mthuli Ncube on October 1 raised tax on electronic transactions to 2% from …

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First Capital Bank to focus on growing lending book

First Capital Bank Limited Zimbabwe will focus on aggressive lending going forward to grow its net interest income, its managing director Samuel Matsekete has said. BY TATIRA ZWINOIRA On Tuesday, the bank started operating under its dual brand name, First Capital Bank Limited in association with Barclays, to reflect the …

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Good times beckon for Zim mining sector

Golden Sibanda  Senior Business Reporter Zimbabwe’s mining sector is headed for exciting times with foreign investors reportedly reaching lofty heights since the new dispensation rose to power, subsequently staging peaceful and successful harmonised polls, according to Mines and Mining Development Minister Winston Chitando. Minister Chitando told delegates at Mine Entra 2018, …

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US tightens controls on China imports of nuclear components

The United States is tightening controls on China’s imports of civil nuclear technology to prevent use for military or other unauthorised purposes, the US Department of Energy said on Thursday amid increased trade tensions. Last month, US President Donald Trump imposed tariffs on nearly $200 billion of Chinese imports and …

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