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Gold eases, extends fall

Gold prices eased yesterday, extending falls for a third session as optimism surrounding US-China trade talks increased risk appetite, while a slight uptick in the dollar also weighed on prices. Spot gold dropped 0,1 percent to $1 487,81 per ounce as of 0729 GMT, having shed 1 percent in the …

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Fuel price unchanged

The price of fuel has not been reviewed this week, for the first time in weeks, the Zimbabwe Energy Regulatory Authority (Zera) said yesterday. Prices of fuel have, from August this year, been reviewed on a weekly basis, a move that consumers have questioned, arguing they not only kept the …

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In gold we trust: 2019 Report

Very few South Africans have not been affected in some way or another by mining, specifically gold mining. Many of my generation were intimately tied to gold mining: families migrating from one site to another in the heady gold boom days of the 50s and 60s when new shafts were …

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ZCDC searches for new CEO

The Zimbabwe Consolidated Diamond Company (ZCDC) on Sunday began its search for a new chief executive to replace Dr Morris Mpofu who was fired five months ago amid allegations of corruption and abuse of office. The axe fell on Dr Mpofu and six other top managers at the diamond mining …

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Trade deficit narrows by 63%

ZIMBABWE’S trade deficit narrowed by 63% to US$644 million between February and August this year compared to the same period last year, due to shortages of foreign currency for imports. BY MTHANDAZO NYONI Figures released by the Zimbabwe Statistics Agency (ZimStat) show that between February and August, the country imported …

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We are here to stay — Stanchart

Business Reporter Standard Chartered remains committed to maintaining presence in Zimbabwe and its digitisation strategy — which has seen the country’s oldest bank closing most of its branches — should not be interpreted as a deliberate move to wind down operations. The bank, which is left with only three branches …

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Zimtrade rallies industry to export

THE need to increase Zimbabwe’s exports will come under the spotlight when government, local exporters, industry players, academia and researchers among others meet in Bulawayo on Thursday for the ZimTrade annual exporters’ conference. BY MTHANDAZO NYONI The conference, taking place under the theme, Rethink, Reform, Export is set to discuss …

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High Court orders bunching of Equity/Shah cases

Golden Sibanda Senior Business Reporter High Court Judge Justice Edith Mushore last week ordered consolidation of cases relating to the dispute between businessman Jayesh Shah’s Al Shams Global BVI Limited and local firm Equity Properties, saying the duplicitous nature of the contested issues warrants treating them as a single case. …

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Zim adopts hyperinflation reporting

Zimbabwe’s listed companies will start presenting their financial statements using the hyperinflationary economies standard (IAS) following approval by the Public Accountants Board (PAAB). BY FIDELITY MHLANGA According to a circular by the accountants’ apex board, usage of the new reporting model covers financial periods ended on or after July 1, …

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SADC develops regional mobile money platform

Tawanda Musarurwa Senior Reporter The Southern African Development Community (Sadc) region is working to introduce a mobile money transfer system for the bloc. Mobile money has evolved as a utility to provide financial services largely to the unbanked population. According to Zimbabwean banker and chairman of the Sadc Payments Scheme …

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