BEIJING. – China’s consumer inflation eased in August alongside slowing growth in food prices, while factory-gate prices continued to moderate amid recovering industrial activities and market demand, official data showed on Wednesday. China’s consumer price index (CPI), the main gauge of inflation, grew 2,4 percent year-on-year last month, moderating from a 2,7 percent gain in […]
Leonard Ncube Victoria Falls Reporter PLAYERS in the tourism industry are excited by the resumption of domestic and international flights, which they say marks the restart of tourism. The Government on Tuesday lifted the ban on domestic and internationals travel after the country’s aviation sector came up with Covid-19 prevention measures. The country has been […]
Business Reporter FINANCIAL services institution, Stanbic Bank Zimbabwe, says it is ready to launch contactless debit cards and POS machines as it forges ahead with its highly innovative technology advancement approach accelerated by the Covid-19 new normal. The bank’s head of personal and business banking, Mr Patson Mahatchi, said the “Tap and Go” debit cards […]
Business Reporter THE Government has made progress in the implementation of the Zimbabwe Reconstruction Fund (ZIMREF) despite difficulties brought about by the Covid-19 necessitated lockdown. ZIMREF is a country-specific multi-donor trust fund that was approved by the World Bank in May 2014, which will run until December 2021. The fund is expected to contribute to […]
Business Reporter Leading horticultural firm, Nhimbe Fresh Produce, has secured US$15 million for its Stone Fruit project in Marondera in the Mashonaland East Province from a yet to be disclosed United Arab Emirates investor, the company’s chief executive Mr Edwin has said. The funds will be channelled towards development of other fruit crops including lemons, […]
Sitshengisiwe Ndlovu The Africa Continent Free Agreement AfCFTA is premised on existing regional economic blocs namely the COMESA, SADC, EAC, ECOWAS, IGAD, SEN-SAD, UMA and ECCA. Research reveals that whereas these Preferential Treaty Agreements (PTAs) were driven by adjustments on tariffs on industrial, agricultural and border measures, not much was covered on subsidies, countervailing measures, […]
Value Added Tax (VAT) is an invoice based tax. The tax invoice generated on both cash and credit transactions is the source document. Registered operators are allowed to deduct the VAT incurred on business expenses (input tax) from the VAT collected on the supplies made by the business. The VAT claim should be according to […]
Godknows Hofisi The Zimbabwe Investment and Development Agency (ZIDA) was established in terms of the Zimbabwe Investment and Development Agency Act (Chapter 14:37), “ZIDA Act” or “the Act”. The Act was published in the Government Gazette in February 2020, becoming effective then on. The purpose of the ZIDA Act is for the promotion, entry, protection […]
Business Reporter Sugarcane farmers in the country’s Lowveld are pushing for sweeping reforms in the sugar industry to break the monopoly held by Tongaat Hullets Zimbabwe. They are also seeking an “urgent review” of proceeds sharing ratio formula used to determine the sharing of revenue between sugarcane growers and millers, a group of farmer organisations […]
Oliver Kazunga ZIMBABWE has the potential to generate over US$1 billion from exporting horticultural products around the world riding on the country’s favourable climatic conditions and private sector participation. ZimTrade manager for export development, Mr Tatenda Marume, said this during the southern region horticulture export awareness virtual meeting held last Thursday. The meeting was organised […]