Business

Business

Listed wines and spirits maker, African Distillers (Afdis), aims to remain profitable and deliver value to all shareholders in the short, medium and long term, despite the harsh economic environment obtaining in the country. ...

A bull market or a bull run refers to a stock market that is characterised by a sustained rise in share prices with most counters trending upwards. ...

Yesterday, NewsDay Business examined the losers of last month’s Supreme Court ruling that upheld Statutory Instrument (SI) 33 of 2019 legislated in February 2019. ...

GOVERNMENT say it will release a National, Micro, Small and Medium Enterprises (MSMEs) policy covering the period 2020 to 2024 in the next six months. ...

MIDLANDS farmers should leverage on favourable climatic conditions in the province and start producing citrus products that could feed into the export value chain for cordials, ZimTrade has said. ...

STATE-OWNED telecommunications company, NetOne has entered into a partnership with Zimbabwe Revenue Authority (Zimra) that will allow corporates and individuals to use the mobile financial services firm payment platform, OneMoney when remitting taxes. ...

“THERE are winners and losers,” said Information permanent secretary Ndavaningi Mangwana about the controversial ruling made by the Supreme Court of Zimbabwe last month which allows for the settling of US debts, acquired before February 22, 2019, in ZWL at a 1:1 rate. ...

GOVERNMENT has reclaimed more than 500 mining claims in Matabeleland South province following failure by owners to pay inspection fees, with Blanket Mine being the most affected, losing about 53 claims. ...

LEGAL and ICT experts have raised eyebrows over government’s recent move to backdate Chinese tech conglomerate, Huawei Technologies’ income tax exemption to 2009 from 2014. ...

POWERSPEED Electrical Limited (PEL) will seek to adopt a share option scheme involving 10% of the company’s shares for the purpose of employees and directors at its annual ...

THE Zimbabwe Energy Regulatory Authority (Zera) has for the second time extended the duration of fuel licences by one month, saying it is consulting with its stakeholders on ...

LOCAL women’s empowerment group, the Red Lipstick Revolution, has set up an inaugural two-day conference in Dubai that has been self-funded to the tune of US$100 000 to ...

GOVERNMENT should take full responsibility for the losses incurred following a landmark ruling declaring that a debt owed in United States dollars incurred on or before February 22 ...

THE Zimbabwe Clothing Manufacturers’ Association (Zcma) has urged government to use the clothing industry as a driver of employment and economic growth, just like what other developing countries ...

NATIONAL maize supplies are critically low as a result of the poor 2019 harvest and limited ability for imports, USAid’s food security arm has said. ...

ASX-listed lithium company, Prospect Resources (Prospect) says discussions with Uranium One are still ongoing, but there is no guarantee that they will result in a formal binding agreement or any transaction. ...

SEED Co Limited posted a 24% reduction in its sales volumes for the nine months ended December 31, 2019, reflecting Zimbabwe’s ongoing economic challenges and drought. The reduction in sales volumes saw the group register a reduced profit of $309 million for the period, down from US$23,2 million ($414,35 million, based on current forex rates) in the comparative 2018 period, a decrease of nearly 25,5%. ...

THE Zimbabwe International Trade Fair (ZITF) Company has sold 78% of its exhibition space, as preparations for this year’s edition of the trade showcase gather pace, an official has said. ...

AGRO firm, CFI Holdings has announced that its subsidiary, the Crest Poultry Group exited judicial management shortly after the reporting period, last month. ...

Drought, Cyclone Idai and “policy missteps” drove Zimbabwe’s economic contraction in 2019, the first in over a decade, the International Monetary Fund (IMF) says. ...

THE Zimbabwe Revenue Authority (Zimra) has said couples intending to sell their jointly-owned matrimonial houses are obliged to pay double Capital Gains Tax, with each of the parties taxed separately. ...

CALEDONIA Mining Corporation (Caledonia) says adjusted earnings per share for 2019 are expected to be up in the range of US$1,55 to US$1,75 due to the continued strengthening of the gold price, among other factors. ...

BY FIDELITY MHLANGA ZIMBABWE Stock Exchange-listed beverages producer, Delta Corporation has continued to sing the blues with trading volumes of almost all products taking a plunge in the ...

ZIMBABWEANS should brace for extreme and unmitigated hardships this year due to a looming drought and economic meltdown, the National Consumer Rights Association (Nacora) has said. ...

GOVERNMENT and the European Union (EU) have launched a project that will see Zimbabwe access 80% of goods from the EU with no tariffs, making them cheaper. ...

Zimbabwe’s tax agency on Monday ordered businesses charging their customers in foreign currency to also settle their tax obligations in foreign currency, as the government aims to raise ...

DELTA Corporation has injected more than $11 million into its Beverages Sorghum Contract Farming Scheme (BSCFS) during the 2019/2020 farming season, as it moves to support local farmers. ...

ADVOCACY group, the Sadc Tribunal Rights Watch (STRW) has called the recent Supreme Court ruling allowing for the settling of US debts incurred before February 22, 2019 in the local currency, theft. ...

PRESSURE to finance the importation of grain, electricity, fuel and agricultural inputs is expected to push the government to print money to buy foreign currency and increasing money supply, a stock broking firm has said. ...

THE European Union-funded Bulawayo leather cluster is looking forward to increasing exports of its products into the region after successfully securing a market in Namibia recently, an official has said. ...