HARARE – Listed furniture retailer Pelhams Limited (Pelhams)’s losses widened to $3,3 million from $1,7 million in the year to March 2014 as sales declined by 69 percent to $2,62 million. The group chairperson Tawanda Nyambirai said the decline in sales was due to a combination of factors which included stocking challenges and declining demand….
HARARE – Zimbabweans must re-establish the saving culture and also practice trading on the stock market, the Securities Commission of Zimbabwe (SecZim) has urged. This comes as most Zimbabweans — earning way below the poverty datum line and consumer basket of around $588 per month — are failing to save as they lead a hand-to-mouth…
HARARE – Aquarius Platinum (Aquarius)’s Zimbabwean unit Mimosa Mine revenue increased by 26 percent to $79 million in the quarter to June 2014 from $63 million realised in previous comparable period. During the period, gross cash profit margin increased to 30 percent from 26 percent. Production went up nine percent to 648 944 tonnes, quarter-on-quarter,…
HARARE – A Chiwoniso Maraire tribute concert without the spontaneity and verve that was abundant on Thursday night at the Book Café would have been out of sync with the late mbira star’s legacy. The well-attended concert and the induction of Chiwoniso into the Book Café Hall of Fame, was indeed in keeping with the…
HARARE – Music legend Oliver Mtukudzi and Zimbabwe’s self-proclaimed dancehall king Winky D will represent Zimbabwe at the three-day Jameson Vic falls Carnival that will kick off in the resort town on December 29. The two highly-acclaimed Zimbabwean artistes will be part of an exciting bill that includes an electronic duo called Goldfish Live and…
HARARE – Shoko Festival is going to grace our capital city once again this year in September. It will be running under the theme “Re-Inspire Re-Imagine” at Alex Sports Club. This year the Festival requires the public to rethink creatively, to look at the way they see themselves, the country and the future, to breathe…
ALGIERS – There are no survivors from the Air Algerie AH5017 passenger jet that crashed in Mali, says the French President, Francois Hollande. Mr Hollande said one flight data recorder had been recovered, after French troops reached the crash site near Mali’s border with Burkina Faso. Air traffic controllers lost contact with the plane early…
HARARE – It’s inconceivable that there are people in the Democratic Republic of the Congo who celebrate the life of Moise Tshombe, whose name is synonymous with “sellout”. Yet there are Germans who today still celebrate the life of Adolf Hitler, whose Nazi campaign caused millions of deaths in World War II. Tshombe was characterised…
HARARE – Two more indigenous banks face collapse due to the persisting liquidity crisis’ systemic risk inherent in the financial sector, a report released this week indicated. In a 2014 first half analysis of Zimbabwe’s economy, Econometer Global Capital (Econometer) warned that the country’s financial sector was far from being solid. “Contrary to the official…
HARARE – Zimbabwe’s largest platinum producer Zimplats plans to construct two declines that enable access to an underground ore belt following the collapse of its Bimha Mine (Bimha). The move is aimed at meeting the miner’s target to produce two million tonnes of platinum ore per annum. However, its mining general manager Simbarashe Goto could…
