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Saudis, Kuwait spat ends

Saudi Arabia and Kuwait are this week set to end a five-year dispute over oil fields in a territory shared between the two countries, people familiar with the matter said yesterday, paving the way for the return of half a million barrels a day of output. The move would be …

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Tanganda records tea export increase

Enacy Mapakame Zimbabwe’s biggest grower and producer of tea and coffee, Tanganda Tea Company Limited — a subsidiary of Meikles Limited — says bulk tea exports marginally increased although production suffered a significant decline during the half year to September 30, 2019. According to Meikles group executive chairman John Moxon, …

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‘Vic Falls best investment destination

Ishemunyoro Chingwere,Business Reporter South African television personality and entrepreneur, Maps Maponyane, says is impressed by the number of projects underway in the resort town of Victoria Falls adding Zimbabwe is currently the best investment destination in the region. Mr Maponyane arrived in Victoria Falls on Saturday at the invitation of …

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Old Mutual, Moyo feud threatens growth

Roxanne Henderson Old Mutual homecoming may get even rockier next year as an ongoing battle with its former head risks distracting the South African insurer from handling weak economic growth and rising competition. The firm will end 2019 still sparring with former chief executive officer Peter Moyo. The dispute has …

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Toda launches fuel finder application

Panashe Chikonyora and Chipo Chaumba Fintech company Toda Zimbabwe, on Friday, launched a new fuel finder application to help motorists in accessing fuel easily. The new application is in line with global trends aimed at improving the situation of motorists in the country who now spend more productive hours in …

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Positive outlook for gold

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 US$1 477 per Oz, representing 15,25 percent gains on a year-to-date basis. Anything above 13, 2 percent would be the biggest …

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Humans have longer life expectancy than their money

Carin Smith One of the consequences of people increasingly living longer, is that it has changed the number of working years compared to those eventually spent in retirement. Pension funds today should be investing for a “horizon” of 80 years or more, as technology and medical research advances at a …

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Government to capacitate Ipec

Ishemunyoro Chingwere,Business Reporter Government is committed to capacitate the Insurance and Pensions Commission (IPEC) so that it plays a critical role towards achieving growth of the insurance penetration rate to about 20 percent, Finance and Economic Development Minister Professor Mthuli Ncube has said. Minister Ncube said this while addressing IPEC …

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Firm to get $143m for lithium battery project

Golden Sibanda Australia Stock Exchange (ASX) listed miner, Prospect Resources, developer of the Arcadia lithium mine near Harare, has appointed African Export and Import Bank (Afreximbank) as lead arranger for a US$143 million syndicated loan facility it needs to finance the lithium-ion batteries project. The open-pit lithium mining project, regarded …

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Starafrica’s Sugar Production Down 4 000 Tonnes Due to Power Shortages

By Alois Vinga LISTED sugar producer, StarAfrica Corporation Limited’s (SACL) sugar production went down 3 744 tonnes in the firm’s first half ended September 30 2019 owing to choking electricity shortages obtaining nationwide. Speaking during the presentation of financial performance recently, SACL chairman, Joseph Mutizwa said power shortages had seriously …

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