Business

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, …

ZIMBABWE expects its average annual inflation to slow to 134% in 2020, according to a finance ministry document published on Friday, more than halving the central bank’s previous forecast. The country is grappling with its worst economic crisis in more than a decade, with runaway inflation of 659.4% year-on-year in …

MIMOSA Mining Company is determined to improve the human conditions and quality of life of people living in communities they operate in, the company’s managing director Fungai Makoni has said. Makoni’s remarks follow the recent commissioning by President Emmerson Mnangagwa of a 20-bed state-of-the-art private ward at Zvishavane District Hospital …

One of the evicted tenants holds a baby while her property is piled up behind her SEVERAL former Zimasco employees in Shurugwi town were left homeless after they were evicted from the company houses they have been occupying. Many of the former employees and their families are now living in …