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ZSE down again

The Zimbabwe Stock Exchange (ZSE) continued in the negative in the week’s opening session as the market completed a fifth consecutive session in losses. All the benchmark indices closed yesterday’s session in the red. The ZSE TOP 10 Index was the hardest hit losing 1,03 percent to 144,66 points sliding …

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Oil rises

Oil prices rose yesterday after Saudi Arabia, the world’s largest exporter of crude, named oil veteran Prince Abdulaziz bin Salman as its new energy minister, a move seen strengthening an output-cutting deal between OPEC and other producers. Prince Abdulaziz, son of Saudi King Salman and a member of the Saudi …

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lDCZ avails funding for industry

Ishemunyoro Chingwere Business Reporter The Industrial Development Corporation of Zimbabwe Limited (IDCZ) has begun availing loans to local industry in a move set to breathe life in some faltering firms as well as kick-start several greenfield bankable projects. The funding, which will see successful companies getting anything between $1 million …

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IPEC reforms progressive

Tawanda Musarurwa The Insurance and Pensions Commission (IPEC) says it has made “significant progress” on institutional and regulatory reforms in keeping with recommendations of the Justice Smith-led Commission of Inquiry. The Commission of Inquiry focused on the conversion of insurance and pensions values from Zimbabwe dollar to the United States …

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GMOs need more State control, not less

Jeffrey Gogo Climate Story A recent hard news article by The Sunday Mail, “No To GMOs, Position Unchanged,” presents common arguments on why the State should allow the growing of genetically-modified crops (GMOs). Underlying the arguments is an assumption: genetically-modified crops can provide the necessary wherewithal to boost food output, …

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Business Briefs

Old Mutual loses The High Court in Johannesburg on Friday upheld an earlier ruling allowing axed Old Mutual CEO Peter Moyo to return to work. Judge Brian Mashile dismissed Old Mutual’s application with costs and granted the company leave to appeal. In his ruling, Mashile addressed the “irreparable harm” argued …

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Proplastics’ new factory complete

Fradreck Gorwe Zimbabwe Stock Exchange-listed paramount producer of piping material, Proplastics, has finally completed its factory, with the plant expected to start operating by the end of the third quarter after the completion of pending minor electric works. The firm manufactures a variety of piping products for usage in mining, …

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Decentralise export permits: ZimTrade

Tawanda Musarurwa Senior Business Reporter The country’s trade promotion body, ZimTrade has asked Government to decentralise the issuance of export permits as part of the latest round of Ease of Doing Business reforms. ZimTrade manager for export development Mr Tatenda Marume said such a move was in tandem with Government’s …

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Time ripe for Zimbabwe to craft a new system

DECADES after former President Robert Mugabe, who died last week, is long gone, his legacy will continue to trigger spirited and heated debate anywhere on this earth because of what this man stood for and practiced. Fundamentally though, while those who remain behind find time to discuss the merits and …

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