THE cash-strapped National Railways of Zimbabwe (NRZ) is spending approximately US$3,5 million annually towards hiring locomotives from foreign companies, with revelations that the rail firm is currently battling a dwindling revenue base, the Zimbabwe Independent can report. The NRZ is the principal transporter of heavy cargo, and revenues have been …
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The National Employment Council had reinstated the 26 and NMB filed an appeal at the Labour Court where Justice Godfrey Musariri on March 22 ruled in favour of the employees. NMB, through its head of human capital Pamela Chinhoyi, has given notice to appeal at the Supreme Court, saying Justice …
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World football governing body FIFA has re-asserted that the ban on Zimbabwe will only be lifted when ZIFA president Felton Kamambo and his executive are restored in office. The Sports and Recreation Commission (SRC), which suspended the ZIFA executive in November leading to Zimbabwe’s ban from all international football, has …
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GOVERNMENT’S failure to provide Real Time Gross Settlement (RTGS) fuel and the increase in United States dollars fuel prices have triggered the latest rally in the cost of producing bread. As a result, a standard loaf of bread now costs more than US$2 after its price shot up by 30% …
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Cut off from international payments systems by Western-led sanctions, Russia has turned to China to obtain the microchips it needs to meet surging demand for its domestic bank cards. But while Chinese manufacturers may be able to provide a quick fix for Russia’s besieged financial institutions, they are unlikely to …
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THE price of a standard loaf of bread shot to US$2,27 in response to increases in raw material costs witnessed in the past weeks. A notice sent out to retailers by bakers Wednesday indicates a prime white loaf will now be sold at a wholesale price of ZW$310 while retailers …
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ZIMBABWEANS have blasted recent comments by South African Home Affairs minister Aaron Motsoaledi, who was quoted saying he would resign after all undocumented foreigners had been locked away. They described Motsoaledi’s utterances as tantamount to endorsing xenophobic attacks on foreigners. Addressing an African National Congress (ANC) regional conference in the …
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CIVIL servants have accused the Public Service Commission (PSC) of plotting to take over Premier Service Medical Aid Society (PSMAS). The Zimbabwe Confederation of Public Service Trade Unions (ZCPSTU), an umbrella body for civil servants unions, yesterday claimed it had evidence that PSC was out to take control of the …
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HARARE – The Reserve Bank of Zimbabwe (RBZ) on Wednesday banned MetBank from trading in foreign currency and suspended the bureau de change licence of Rolink Finance which was also fined US$120,000. MetBank is suspended from trading as an authorised dealer “pending a full investigation for breach of exchange control …
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HARARE – InnBucks, a popular money transfer service owned by Simbisa Brands was on Wednesday ordered to cease operations by the Reserve Bank of Zimbabwe (RBZ) which accused the company of failing to comply with regulations. The central bank said InnBucks customers had a 30-day window to withdraw their money, …
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