Browsing: Business

Business
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JUST IN: Gold miners get 100pc USD

State gold buying entity, Fidelity Printers and Refineries (FPR), has finally yielded to pressure from gold miners and will with immediate effect settle payments 100 percent in US Dollars.

Business
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RBZ directs banks to relax terms for borrowers

The Reserve Bank of Zimbabwe has directed banks to relax credit granting requirements as it moves to provide credit support to firms that have been hit by the coronavirus pandemic and the subsequent national economic lockdown. The Covid-19 pandemic and the subsequent national lockdown undermined the viability of business concerns and naturally banks are likely […]

Business
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Govt surpasses revenue target collection

Herald Reporter GOVERNMENT has surpassed its revenue collection target for the first quarter of 2020 by more than 10 percent netting over $14 billion against a set target of $12,81 billion. This was revealed by Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa during a post-Cabinet meeting briefing in Harare on Thursday night. “The Minister […]

Business
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Zesa cancels US$217 million deals

Golden Sibanda Zimbabwe Power Company (ZPC), a unit of state power utility ZESA Holdings, has cancelled two multi-million dollar contracts signed with Indian electrical engineering firm, Jaguar Overseas Limited, for the re-powering of its Harare and Munyati thermal power plants. Our sister publication, Business Weekly, has it on good authority that ZPC cancelled the contracts  […]

Business
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Zimplow’s Q1 in target range

Business Reporter Listed agricultural implements manufacturer Zimplow Holdings’ business, was largely unaffected by Covid-19 during the first three months of year although a difficult operating environment took some toll. Locally, Covid-19’s impact was felt at the very end of the quarter when Government moved to impose an initial three-week lockdown from March 30. But the […]

Business
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Biggest power demand plunge since Great Depression

Mark Chediak, Chris Martin and Rachel Morison The global plunge in electricity demand will drag on long after nations lift stay-at-home orders, leading to the biggest annual drop since the Great Depression and fundamentally reshaping power markets. As economies struggle to recover, worldwide electricity consumption will decline 5 percent in 2020, the most in more […]

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