HARARE – Former Finance minister Tendai Biti has said he would never study for a doctorate degree because it has lost its status. Subtly taking a dig at First Lady Grace Mugabe who has just been awarded a PhD after allegedly registering for the degree in July, Biti told a public meeting called to critique…
HARARE – President Robert Mugabe’s Zanu PF has ruled out the possibility of the party splitting as a result of the current factional strife. Party spokesperson Rugare Gumbo was responding to assertions by Mugabe’s nephew, Patrick Zhuwao, who raised the spectre of a palace coup when he said the escalating factional fights in the ruling…
HARARE – Government has confirmed dispatching a team of lawyers to Belgium seeking to recover $45 million seized at the Antwerp World Diamond Centre in Belgium last week. As first exclusively revealed by the Daily News this week, Amari Platinum Holdings Limited (Amari) won a temporary relief to freeze the Antwerp diamond auction proceeds, in…
HARARE – A petrol bomb was thrown at the family home of a Zanu PF youth leader in Harare, fuelling speculation that the attack was faction-related. Penelope Makomeya, the Zanu PF Mbuya Nehanda district chairperson, was yesterday targeted in a petrol bomb attack on her home in Highfield. Makomeya, one of the youths beaten up…
HARARE – After China and Russia’s much-celebrated economic interest in Zimbabwe — over the last few weeks — we believe that this significant foreign direct investment (FDI) must be welcomed with a great deal of circumspection. While it is true that some of the offered projects could positively impact on our troubled economy, it might…
HARARE – Zimbabwe’s love for fried chickens has seen the recently opened KFC outlet recording encouraging business despite a decrease in disposable income for most locals. KFC marked its return in July after a five-year absence amid long queues, signalling increased competition in a fast food sector traditionally dominated by Innnscor Africa and Chicken Slice….
HARARE – The trial of three Navistar Insurance Brokers (Private) Limited (Navistar) bosses, whose insurance brokerage services were illegally acquired by Air Zimbabwe without seeking approval from the State Procurement Board, has been postponed to October 15. Givemore Nderere, 45, and Vukile Hlupo, 45, were released by High Court judge Justice Joseph Musakwa on $5…
HARARE – Zimbabwe Stock Exchange-listed financial group, First Mutual Holdings Limited (FMHL), has lost $1,8 million to collapsed banks. The group, which incurred a $4,1 million loss in the half year to June 2014 compared to a $2,4 million post tax profit realised in prior comparable period, said the funds were money market investments with…
HARARE – International lenders are reluctant to advance Zimbabwe credit lines because the country is heavily indebted and does not have capacity to repay, Finance minister Patrick Chinamasa has said. He said Zimbabwe’s debt reputation made it difficult for the hard pressed country to secure loans. “Wherever I go to ask for money I am…
HARARE – Walter Magaya, the Prophetic Healing and Deliverance (PHD) Ministries leader, has escaped a $500 000 adultery lawsuit after Denford Mutashu withdrew accusations that he committed adultery with his wife. After Mutashu sued for adultery damages, his wife Memory Nomsa Ruvazhe deposited an affidavit denying the adultery claims. The Daily News understands that Mutashu…
