Business

The Zimbabwe dollar eased by a marginal 0,39 percent against the US dollar in yesterday’s Reserve Bank of Zimbabwe (RBZ) foreign currency auction, with the exchange rate for US$1 shifting to $81,67 from $81,35 the previous week. But the movement, while the largest weekly shift for seven weeks, was still …

Toll fees are to be reviewed as current ones are no longer adequate for the Zimbabwe National Road Administration (Zinara) to fund required road maintenance, legislators were told yesterday. Transport and Infrastructural Development Permanent Secretary, Engineer Amos Marahwa, told Parliament’s Portfolio Committee on Transport and Infrastructural Development chaired by Shamva …

Zimbabwe’s mining industry contributed half of the US$4,8 billion export revenues generated during the third quarter ended September 30, 2020, the Reserve Bank of Zimbabwe (RBZ) has said. RBZ governor John Mangudya said mining industry export receipts rose by 14% to US$2,4 billion during the period. “I want to assure …

ZIMBABWE Stock Exchange Food and dairy products processor Dairibord Zimbabwe Limited (DZL) has recorded a 50 % foreign currency earnings increase as the firm’s export strategy continues to deliver dividends. Several manufacturers are still grappling to secure foreign exchange to supplement the gaps left behind by the Reserve Bank of …

THE National Railways of Zimbabwe (NRZ) has accumulated a huge debt which has left the giant state-owned transport utility on the verge of collapse, a cabinet minister has revealed. Speaking at the commissioning of the company’s museum as a National Tourism Development site in Bulawayo Friday, Transport and Infrastructure Development …

Zimbabwe’s construction industry looks set to be the hardest hit by the outbreak of the Covid-19 pandemic with an expected contraction of -11.4 percent, Finance and Economic Development minister Mthuli Ncube has said. The tourism and distribution industry is expected to contract -7.5 percent, education (-7.2%), financial sector (-7.1%) and …

Facebook is being sued for failing to protect users’ personal data in the Cambridge Analytica breach. The scandal involved harvested Facebook data of 87 million people being used for advertising during elections. Mass legal action is being launched against Facebook for misuse of information from almost one million users in …

One of the more curious trends in the weekly Reserve Bank of Zimbabwe (RBZ) foreign currency auctions is the rise in the top bid over the last couple of weeks, while the weighted average moves by a fraction of a Zimbabwean cent. The minute shifts in the weighted average, a …

The National Railways of Zimbabwe (NRZ) is resuming its commuter train service in Bulawayo which was suspended in March following the outbreak of Covid-19. The commuter train service will start operating on Monday 2 November 2020, the NRZ said in a statement on Wednesday. In addition to the City-Cowdray Park …

The Zimbabwe dollar moved marginally by less than a third of a Zimbabwean cent, against the US dollar at yesterday’s Reserve Bank of Zimbabwe (RBZ) foreign currency auction, trading 0,004 percent higher at 81,3531 compared to last week’s 81,3499. Although both the lowest bid and the highest bid moved upwards, …