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Fidelity dangles incentive for gold

BY MISHMA CHAKANYUKA Fidelity Printers and Refiners Limited (FPR) says it will pay an incentive for gold deliveries as government tries to ramp up output of the yellow metal. In a statement, FPR, a subsidiary of the Reserve Bank of Zimbabwe (RBZ) mandated to buy gold on behalf of the …

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Business, homes urged to turn to renewable energy

BY MTHANDAZO NYONI INDUSTRIALISTS have called on the business sector and individuals to adopt renewable energy sources as a long-term solution to the country’s power shortages. Power utility, Zesa Holdings last week started a load-shedding regime that has seen businesses and households going for at least 10 hours without electricity …

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Oil supply crunch

Oil production capacity could fall to under 1 percent of global oil demand by the end of the year if OPEC compensates falling production from Iran and Venezuela, leaving oil prices exposed to sharp swings in the event of unplanned outages, analysts say. Spare capacity is the extra oil a …

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Zimbabwe hosts inaugural Investor Day Conference

Enacy Mapakame Business Reporter Zimbabwe will tomorrow host the inaugural Investor Day Conference in Harare to foster interactions on unlocking economic value through capital markets. Over 300 delegates comprising market intermediaries, regulatory bodies, high net worth investors, retail investors, potential investors and government officials are expected to participate at the …

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Industry cries foul over load-shedding

Kudakwashe Mhundwa Business Reporter CRIPPLING power cuts being experienced across the country might worsen the plight of local industries that are already battling to remain afloat given the challenging macro-economic environment, the country’s biggest industrial lobby group, Confederation of Zimbabwe Industries (CZI) has said. Zimbabwe is facing renewed challenges around …

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Prices slide as ‘customer is king’ kicks back

Tawanda Musarurwa Senior Business Reporter Prices of some local products appear to have entered a self-correction mode as consumer demand is said to have declined by at least 40 percent. Just last week, listed beverages giant Delta Corporation, announced it was reducing retail prices for its soft drinks, which have …

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IMF speaks on Zim relations, economic progress

The International Monetary Fund (IMF) says the Staff Monitored Programme between the fund and Zimbabwe will put the country on a sustainable growth trajectory and help build a track record of sound economic policies as it seeks to normalise its relations with external creditors. The international fund also spoke on …

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Zesa to increase power imports

Golden Sibanda Senior Business Reporter State power utility Zesa Holdings is working on processes to increase power imports as part of concerted efforts to ameliorate the shortage of electricity due to reduced generation at Kariba South. Zesa is also reportedly weighing the possibility of using the 200 megawatt Dema diesel …

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Cottco to Introduce New Seed Variety

Cottco is set to introduce a new seed variety as it seeks to ramp up production from 140 000 tonnes to 504 000 tonnes per year and generate US$2 billion in revenue from next year, the Deputy Minister of Lands, Agriculture, Climate and Rural Resettlement Cde Douglas Karoro has said. …

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