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Businessman and diplomat Mr Kamal Khalfan says he will only drop his US$10 million lawsuit against the Daily News if the paper apologises for publishing a series of allegedly defamatory articles implicating him in illegal diamond dealings and money laundering. He wants a full apology on the front page, naming …

MASHONALAND Holdings Limited has recorded a 28% decline in after tax profit to $1,6 million for the half year ended March 31 2014 as compared to $2,7 million over the same period last year. Business Reporter In a statement accompanying the group’s unaudited results, the company attributed the decline to …

ZIMBABWE’S largest beverages producer Delta Corporation Limited, has announced plans to upgrade its plant and machinery at a cost of $54 million in a programme expected to run until next March. Company secretary Alex Makamure told journalists during a tour of the beverage maker’s Harare factory last week that several …

Cairns Holdings prospective investor Vasari Global has requested to renegotiate a number of issues with major creditors amid fears the deal could collapse over undisclosed differences. In an update to creditors and members dated May 13 2014, judicial manager Mr Reggie Saruchera of Grant Thornton Camelsa said negotiations with the …

More retrenchments are looming at PG Industries as the group seeks to turn around its fortune after sinking deeper into the red, posting a $11,3 million loss for the year ended December 2013. The group’s acting chairman Mr Francis Dzanya said the group is expecting to have completed the retrenchments …