Business

Business

INNSCOR Africa Limited has raised bread prices to $2,45 (wholesale) and $2,70 (retail) for a loaf at its subsidiary, Bakers Inn. The prices went into effect yesterday. ...

The Supreme Court has delivered a landmark ruling allowing managers to unionise, paving way for the registration of the Banking and Finance Manager’ Union of Zimbabwe (BFMUZ) to form a union. ...

Market analysts expect a self-correction of the price of stocks listed on the Zimbabwe Stock Exchange (ZSE) following the establishment of the real time gross settlement dollar (ZWR) and floating of the exchange rate. ...

TOURISM workers and employers representatives are this month expected to meet in the capital to review their salaries following the sharp increase in the cost of living, an official has said. ...

ZIMBABWEAN businesses have been urged to strengthen their participation in the global e-commerce space to promote diversification and increase exports. ...

Uganda Airlines is expected to soon join a host of other regional airlines flying into Harare. ...

ZIMBABWE has the second worst attractive mining policies in Africa, ranking better than the Democratic Republic of Congo (DRC), a new report has shown. ...

PEPSI Zimbabwe, the local unit of Varun Beverages, says it plans to spend some $150 million in capital expenditure over the next five years. ...

State-run pension fund, the National Social Security Authority (Nssa) says it will soon be conducting site visits to companies to demand outstanding contributions. ...

The Supreme Court has ruled in favour of the Zimbabwe Textile Workers’ Union which had sought to have Merlin and Merspin Limited put under corporate rescue proceedings. ...

ZIMBABWE should introduce an independent currency board which would stop the Reserve Bank of Zimbabwe (RBZ) from controlling the foreign currency exchange rate, an industry expert has said. ...

Listed hardware retail chain, Powerspeed Electrical seeks to embark on a branch expansion drive to consolidate its market share. ...

In the context of increasing the number of multinational companies, the number of related party transactions increases as well and therefore transfer pricing has begun to be considered as one of the most important aspects in terms of tax matters. ...

Access to financial services is a key goal that has motivated the government and private companies to advance financial inclusion. Fintech companies are creating and rolling out a wide range of solutions that impact nearly everyone, drastically broadening the reach, flexibility and level of innovation in financial services. ...

STATE-OWNED telecoms operator TelOne says its debt to foreign suppliers has accumulated to more than $20 million, a situation that is crippling its operations. ...

TOBACCO farmers are pushing for the tobacco marketing season to be opened at a later date to allow farmers to finalise the harvesting of the crop and to put in place logistical arrangements before the season kicks off. ...

Ecocash (Pvt) Ltd, whose property had been set for attachment by Dr Dish (Pvt) Ltd over a subscription fee debt, has petitioned the High Court seeking an order to interdict and restrain Dr Dish from interfering with its business operations, accusing the latter of executing wrong property. ...

Micro-finance institution Get Bucks reported a 16 % increase in net profit to $3 million in the six months to December 30, 2018, driven by an increase in net income of $8,3 million from $6,4 million achieved in the prior year. ...

BULAWAYO business community yesterday welcomed the Companies and Other Business Entities Bill and proposed that the law should, among other things, set aside sectors reserved for participation by locals. ...

ZIMBABWE’S insurance sector should design products that respond to the changing needs of farmers and their suppliers, Zimnat CEO Mustafa Sachak has said. ...

SOUTH African banks have blocked their Zimbabwe counterparts from importing United States dollars as a measure to mitigate the risk associated with dealing with Harare-based institutions, a senior Reserve Bank of Zimbabwe (RBZ) official has said. ...

THE Zimbabwe Electricity Transmission and Distribution Company (Zetdc) is struggling to complete its prepaid electricity meter project due to foreign currency challenges, an official has said. ...

ZIMBABWE is producing close to 100 tonnes of gold, but the bulk of that is being lost to the black market as small-scale miners, who are the main producers in the country, shun official channels, a government official has said. ...

PRESIDENT Emmerson Mnangagwa, using the Presidential (Temporary Measures) Powers Act, introduced a virtual currency, the real-time gross settlement systems (RTGS) dollar, which will remain legal tender for six months if it’s not made substantive through an Act of Parliament. ...

PRIVATE coal miner Makomo Resources says it expects to produce 350 000 tonnes of coal per month this year on the back of an anticipated increase in demand from the Zimbabwe Power Company (ZPC). ...

Gloria Zvaravanhu was recently appointed chief executive of the Institute of Chartered Accountants of Zimbabwe (ICAZ). NewsDay reporter Melody Chikono (ND) caught up with Zvaravanhu (GZ) to talk about her new role at the helm of the accountants body. ...

The Grain Millers Association of Zimbabwe (GMAZ) says it is working on a contract farming scheme targeted at increasing the country’s wheat output in order to cut back the country’s reliance on imports for the commodity. ...

Quick service restraint chain Simbisa Brands says it will invest about $10 million in setting up 21 new outlets across the country this year, as it forges ahead to consolidate its share of the local market. ...

FINANCE minister Mthuli Ncube says the process of modifying 99-year leases to be bankable instruments needs to be brought to finality so as to unlock funding to the agriculture sector and make it more productive. ...

Automobile manufacturer Quest motors has urged government departments and local authorities to put a stop to the importation of its vehicles and procure locally to support the local motor industry. ...