Business

Strike looms as bankers rebuff salary demands

Fri, 03 Sep 2010 13:34:23 +0000

THE Bankers Association of Zimbabwe (Baz) has refused to give in to salary demands by bank employees, saying the workers could go ahead with the industrial action planned for next week because their demands were unsustainable.

Hunyani slashes profit margin after ‘forgery’

Fri, 03 Sep 2010 13:17:09 +0000

YOU can only see who has been swimming naked when the tide is gone. In Zimbabwe you can only see which companies are performing very badly when hyperinflation is gone.

New billing system, a relief to subscribers

Fri, 03 Sep 2010 12:59:49 +0000

AMONGST some of the positives to come from the economic reforms in 2009 was the rollout of more mobile phone lines by the three networks.

Financial results fail to rouse ZSE

Fri, 03 Sep 2010 12:58:29 +0000

TRADING on the Zimbabwe Stock Exchange opened the week bearish with the key industrial index shedding 0,45 points to close at 132,48 points, as interim financial results fail to stimulate the local bourse.

Chemco closes subsidiaries

Fri, 03 Sep 2010 12:47:02 +0000

CHEMCO Holdings has closed its two subsidiaries — Farma A Rama Retail and Farma A Rama Transport —due to viability problems.

Guvamatanga new Bankers Association VP

Fri, 03 Sep 2010 12:40:42 +0000

BARCLAYS Bank of Zimbabwe Limited MD George Guvamatanga has been appointed vice president of the Bankers Association of Zimbabwe (BAZ), replacing former BancABC MD Zandile Shaba who has left the banking sector.

New Dawn loans US$2m to Central African Gold

Fri, 03 Sep 2010 12:35:51 +0000

NEW Dawn Mining has extended a US$2 million loan facility to Central African Gold (CAG), a company it acquired in June, as interim financing to meet the firm’s cash requirements.

Time bank prejudiced of US$30m — Tande

Thu, 26 Aug 2010 16:43:24 +0000

VITAL information was stolen from Time Bank when it was under curatorship, prejudicing the financial institution of US$30 million, a senior bank official has said.

Of hyperinflation hangover and insatiable greed

Thu, 26 Aug 2010 16:42:23 +0000

THERE are several issues which can lead to failure of a country’s currency; from weak economic fundamentals to political unrest. In Zimbabwe, inflation figures started to soar to uncomfortable levels in early 2000 and reached a climax in 2008.

PG Industries to recapitalise

Thu, 26 Aug 2010 16:40:43 +0000

PG INDUSTRIES will return to the market for recapitalisation before the end of the financial year to pay off its US$6,6 million debt, CEO Hillary Munyati has said.