Browsing: Business

Business
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Life assurers bury funeral companies

Tawanda Musarurwa Senior Business Reporter Zimbabwe’s funeral assurance companies might struggle to remain viable as they continue to lose business to life assurers, the Insurance and Pensions Commission (IPEC) has warned. Although life assurers are within their rights to write funeral business, the impact of traditional funeral assurers cannot be ignored. The trend has been […]

Business
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RBZ rejects $50m TBs

Golden Sibanda Senior Business Report The Reserve Bank of Zimbabwe (RBZ) last week rejected all $50 million worth of bids for the 364-day Treasury Bills (TBs) the apex bank had floated in order to raise funding to cover Government’s expenditure needs arising from the coronavirus. Although the bank managed to raise only $70 million, far short […]

Business
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Procurement authority seeks wider powers

The Procurement Regulatory Authority  of Zimbabwe (PRAZ) said yesterday it was seeking increased powers to enable it to effectively monitor public procurement processes and to  also punish entities who flout tender procedures. PRAZ (formerly the State Procurement Board) was created through an Act of Parliament in 2017 and is mandated with supervising public  procurement proceedings […]

Business
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Huawei remains ‘open to discussions’ with UK

LONDON. — Chinese technology firm Huawei said it remains “open to discussions” with the British government and is working closely with its customers to find ways of managing the proposed US restrictions so Britain can maintain its current lead in 5G. The US Department of Commerce has announced that it will impose new restrictions on […]

Business
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Shanghai stocks soar on economic optimism

Shanghai stocks surged yesterday to a more than two-year high as investors piled in following a combination of rosy predictions for the market and strong economic data. The benchmark Shanghai Composite Index gained 5,71 percent, or 180,07 points, to 3 332,88, its best close since March 2018, while the Shenzhen Composite Index, which tracks shares […]

Business
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China’s economy to expand

BEIJING. — China’s economy will return to positive growth in the second quarter of this year in fresh signs of post-epidemic restoration, experts said. Li Chao, an economist with Zheshang Securities, expects the country’s GDP to begin expansion in Q2 and rise by more than 6 percent in both Q3 and Q4, following a GDP […]

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