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Dollar remains dominant

NEW YORK. — The US dollar will remain the world’s leading reserve currency over the next 25 years, with the euro and renminbi expected to further increase their share of total central bank reserves, according to UBS’ survey of sovereign institutions including major central banks released yesterday. Global reserves are …

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Caledonia to invest in solar plant

Business Reporter Toronto Stock Exchange-listed Caledonia Mining Corporation, is looking at investing in a solar farm at its Blanket Mine in an effort to deal with the crippling power cuts being experienced in the country. Zimbabwe is experiencing increased power shortfalls due to low water levels at Kariba Power Station, …

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Old Mutual tables new retrenchment package

Panashe Chikonyora Old Mutual Zimbabwe Limited has been forced to table an improved voluntary retrenchment package to its employees after the first one got a lukewarm response, according to group chief executive officer Jonas Mushosho in a memo to employees. Mr Mushosho said the company had to make a new …

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ZSE loses $2bn total market value

Golden Sibanda Senior Business Reporter THE Zimbabwe Stock Exchange (ZSE) has lost about $2 billion of total market value over the last two and half weeks, as investors took profits after stocks had a brief period of sustained gains in September. The domestic stock market had risen in just over …

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Us$12bn Mining Target Achievable – – Experts

By Africa Moyo Deputy News Editor THE US$12 billion mining industry strategic roadmap launched by President Mnangagwa on Monday represents a great opportunity for Zimbabwe to transform the economy, while also setting the stage for the attainment of an upper middle income society by 2030, experts have said. The experts …

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Wadyajena Withdraws $3,6m Tagwirei Suit

By Fidelis Munyoro Chief Businessman and legislator Mr Justice Mayor Wadyajena has withdrawn a $3,6 million suit against fellow businessman Mr Kudakwashe Tagwirei over some fuel tankers’ rental debt that had spilled into the High Court. Mr Wadyajena had sued Mr Tagwirei, accusing him of being an extortionist. He also …

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5 Public Entities Face Reform

By Africa Moyo Deputy News Editor Government is targeting to reform five public entities this year, and the processes are now at an advanced stage, Finance and Economic Development Minister Professor Mthuli Ncube has said. He said this in a document titled “Key milestones and progress on policy reforms”, released …

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Govt Tells Doctors – No Work, No Dialogue

By Zvamaida Murwira and Nesia Mhaka Government remains open to dialogue with striking doctors to find a lasting solution, but those discussions should be carried out while health workers are at work, Health and Child Care Minister Dr Obadiah Moyo said yesterday. Crucially, Government will implement the 60 percent salary …

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