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Nedbank Mutare Branch Bank Tellers in U.S.$80,000 Fraud

Mutare — Three Nedbank Zimbabwe employees stationed at a bank branch here Thursday appeared before a Mutare magistrates’ court facing charges of swapping depositors US dollar bank balances with electronic money (RTGS). The suspects, Stella Nyabadza, Yuhzel Mumba and Stanley Mabiza reportedly prejudiced the bank of more than US$80 000. …

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‘Zim not reforming fast’

BY Fidelity Mhlanga The World Bank says Zimbabwe is not reforming fast enough to improve its ease-of-doing business. Authorities in the southern African nation together with the World Bank are working on a reform agenda which seeks to improve transparency, efficiency and regulation. According to the latest World Bank annual …

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Belarus companies to exhibit at ZITF

BY MTHANDAZO NYONI THE Belarusian Chamber of Commerce and Industry will bring in four companies to exhibit at the Zimbabwe International Trade Fair (ZITF) this year as the east European country makes its debut at the fair. In a statement yesterday, the Republic of Belarus said it will introduce its …

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Shepco Group plans $2 million CAPEX

by Fungai Nyaungwa The ZSE rebounded further during the week-ended April12, 2019 on moderate buyers’ aggression leading to a 1,74% uplift in total market capitalisation to $16,548,17 million. The bulls dominated the bears, as all equity benchmarks ended the week in the black. The All Share Index and the Top …

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US-China trade talks spur stock markets

Progress in the US-China trade talks helped propel world stock markets to a 6-month high on Friday and steered investors away from save havens such as the Japanese yen. In early European trades, the pan-region Euro Stoxx 50 futures, German DAX futures and London’s FTSE futures each rose about 0,1 …

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Oil prices halted

Oil prices halted their rally yesterday with Brent futures falling below $71 per barrel on signals that Russia may exit production cuts. Losses were limited by a tightening of global supplies, as output has fallen in Iran and Venezuela amid signs the United States will further toughen sanctions on those …

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Gold delivery declines 10 percent

Ishemunyoro Chingwere Business Reporter Gold deliveries in the first quarter of the year to State gold buying entity, Fidelity Printers and Refineries (FPR), took a 10 percent knock compared to the same period last year, statistics availed to The Herald Business have shown. Deliveries in the first three months of …

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Ease of doing business to improve

Enacy Mapakame Business Reporter Zimbabwe is targeting to improve its ease of doing business ranking to below 100 as it puts more efforts on reforms that should enhance the business environment. This will complement the “Zimbabwe is Open for Business” agenda. Currently Zimbabwe is number 155 on the World Bank’s …

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Firms receive fuel refunds

Business Reporter Government has started processing refunds on the fuel Excise duty component of higher fuel prices incurred by businesses after the Government hiked fuel prices in January to curb speculative buying that was worsening fuel shortages. The Zimbabwe Revenue Authority, which is the processing agent, said the refund follows …

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Exports to UK up 276 percent

Business Reporter Zimbabwe’s exports to the UK have increased by 276 percent to US$112 million in 2018 from US$30 million in 2012, according to ZimTrade, with Harare now working on strengthening bilateral and trade ties with London in preparation for BREXIT. The UK is preparing to leave the European Union …

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