Business

Oil holds firm

LONDON. – Oil prices held near three-month highs yesterday, supported by last week’s announcement of an initial trade deal between the United States and China. Brent crude oil futures LCOc1 were up 19 cents, or 0,29 percent, to $65,41 a barrel by 1305 GMT, while West Texas Intermediate crude CLc1 …

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ZB to focus on cost management

Michael Tome Business Reporter ZB Financial Holdings (ZBFH) says it will be focusing more on cost management and investment in real estate business as the financial institution moves towards capital preservation given the prevailing turbulent economic environment. The group said in the trading update up to September 2019 that the …

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Harare hotel occupancy falls

Ishemunyoro Chingwere Harare’s hotel room occupancy for the first 11 months of the year declined by seven percent compared to the same period in the corresponding year, the Hospitality Association of Zimbabwe (HAZ) has said. The statistics under review are for the capital’s eight major hotels – Crown Plaza Monomotapa, …

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NMB head office nears completion

Enacy Mapakame Construction of NMBZ Holdings Limited’s new head office in Harare nears completion with the group expected to move in during the first half of financial year 2020. The new head office is sitting on a land in Borrowdale that was acquired more than 15 years ago for the …

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Fidelity Life Assurance income surges

Enacy Mapakame Insurance group, Fidelity Life Assurance Zimbabwe’s revenues for the nine months to September 30, 2019, surged 154 percent to $45 million compared to the same period in the prior year, despite a challenging business environment characterised by inflationary pressures. Although the business environment was tough, the Malawi business …

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Zimpapers revenue doubles

Tawanda Musarurwa Diversified and listed media group Zimpapers Limited doubled its revenues in the quarter ended September 30, 2019, to $65,5 million from $32,2 million in the same period last year, despite the challenging operating environment during the period under review. Notwithstanding the economic challenges, the Zimbabwe Stock Exchange-listed media …

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Bulls dominate equities market

Enacy Mapakame Bulls have dominated the equities market spurred by increased activity in heavy cap counters although turnover weakened week-on-week. During the week to November 8, all four indicators closed in the positive, rising by highest margins in the past six weeks on the back of increased demand and increased …

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SA rand firms

The rand was slightly firmer early yesterday, as investors awaited a speech on trade by US President Donald Trump amid his country’s long-running tariff war with China. At 0728 GMT, the rand traded at R14,8520 versus the dollar, around 0,2 percent stronger than its previous close. Government bonds were also …

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Gold prices ease

Gold prices eased yesterday as expectations of positive trade talks between the United States and China bolstered risk appetite, while investors booked profits. Spot gold slipped 0,2 percent to US$1 453 per ounce, extending declines into a fourth straight session. US gold futures also dropped 0,2 percent to US$1 454 …

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Oil loses ground

US oil prices fell for a second day yesterday, weighed down by uncertainty over whether US-China trade talks are making much progress, while higher Saudi Arabian crude output reinforced concerns about oversupply. US West Texas Intermediate (WTI) crude was down 18c, or 0,3 percent, at US$56,68 a barrel. The contract …

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