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Data Tariffs Soar As Crisis Bites

Mobile network operators became the latest sector to increase prices for their products with an upward adjustment of tariffs for broadband services following the floating of the country’s local currency against the United States dollar. Zimbabwe liberalised its exchange rate on February 22 when it introduced an interbank market for …

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Business should pay back loans — Modi

BY MTHANDAZO NYONI Industry and Commerce deputy minister Raj Modi says business should uphold ethical standards and repay borrowed funds. Modi was speaking to captains of industry during the CZI/ZITF Buyers-Sellers Forum in Bulawayo yesterday, where he said companies that were seriously looking to expand production and venture into export …

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Stanchart posts 38% improvement in profit-after tax

BY TATIRA ZWINOIRA STANDARD Chartered Bank Zimbabwe (Stanchart) has posted a 38% increase in profit-after-tax to US$18,36 million in the full year ended December 31, 2018, driven by the bank’s digitisation strategy. The increase in the profit-after-tax for 2018 was from a previous of US$13,32 million earned over the comparative …

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SA rand dips

South Africa’s rand retreated yesterday, succumbing to a firming US dollar, as rising oil prices globally dented demand for emerging market currencies. At 0650 GMT the rand was 0,05 percent weaker at 14,4500 per dollar compared to an overnight close of 14,4450. The rand tumbled to 14,4525 late in the …

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Water supplies in Idai hit areas restored

THE Zimbabwe National Water Authority (Zinwa) has resuscitated all but one of its water supply stations that were affected or had equipment damaged by the recent Cyclone Idai. The authority has since restored normal service at Murambinda, Nyanyadzi, Matendeudze, Chibuwe, Tanganda, Birchenough Bridge, Rimbi, Odzi, Romsely, Zimunya, Checheche and Chipangayi …

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Oil prices fall

Oil prices fell yesterday as record US output and rising crude stockpiles dampened the impact on markets of tighter US sanctions on Iran and producer club OPEC’s continued curbs on supply. Brent crude futures were at $74,35 per barrel at 0037 GMT, down 22 cents, or 0,3 percent, from their …

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Ipec reads riot act to insurance firms

Oliver Kazunga Bulawayo Bureau Businesses in the insurance industry that fail or delay paying out claims of admitted liabilities under any policies risk having their operating licences cancelled as stipulated at law, according to the Insurance and Pensions Commission (IPEC) acting commissioner Mr Blessmore Kazengura. He revealed this during the …

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‘Economy needs simplified tax system’

Prosper Ndlovu Bulawayo Bureau GOVERNMENT has begun a process of simplifying its tax system while the Zimbabwe Revenue Authority (Zimra) continues to roll out operational reform strategies aimed at enhancing voluntary compliance and increasing domestic resource mobilisation, Finance and Economic Development Minister, Professor Mthuli Ncube, said yesterday. Addressing industry and …

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Turnall Explores Export Markets

Zimbabwe Stock Exchange (ZSE) listed roofing and building materials manufacturer, Turnall Holding, intends to increase its product range to include production and supply of non-asbestos roofing materials, as part of the group’s wider strategy to explore export markets. Asbestos products were blacklisted on the international market after concern had been …

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