HARARE – The World Bank has predicted a gloomy economic outlook for Zimbabwe, showing the depth of a recession fuelled by a liquidity crunch and a sputtering agriculture-dependent economy dented by a devastating drought. The World Bank said the economy is again forecast to perform abysmally in 2016, with a 1,5 percent GDP growth projected…
HARARE – In a dramatic twist to one of the many battles around Capital Bank Corporation Limited (Capital), Kantor & Immerman (KI) has “renounced agency” from representing the National Social Security Authority in any matters linked to the ex-ReNaissance Merchant Bank (RMB). This also comes as ReNaissance Financial Holdings Limited (RFHL) has won a confirmation…
HARARE – Toronto Stock Exchange-listed miner Caledonia Mining Corporation (Caledonia) says it has entered into a six-month “cap and collar” hedge over 15 000 ounces of production using a “collar” value of $1,050 per ounce and a cap value of $1,080 per ounce. The hedge will provide Caledonia with greater certainty as to its cash…
HARARE – Determined efforts by Vice President Emmerson Mnangagwa’s allies at Wednesday’s marathon Zanu PF politburo meeting in Harare to bring down the Generation 40 (G40) group, that is rabidly opposed to the Midlands godfather succeeding President Robert Mugabe, came to nought. The Daily News — which has reported accurately and consistently on the ruling…
HARARE – The MDC has savaged President Robert Mugabe for insulting opposition leader Morgan Tsvangirai on Wednesday, instead of focussing on finding solutions for the country’s dying economy and Zanu PF’s seemingly-unstoppable factional and succession wars. Addressing Zanu PF supporters in Harare, ahead of the ruling party’s politburo meeting, Mugabe climbed all over Tsvangirai and…
HARARE – Vice President Emmerson Mnangagwa’s Team Lacoste faction is said to be preparing to launch an unprecedented media campaign against First Lady Grace Mugabe’s perceived sympathisers from the group calling itself Generation 40, which is opposed to the VP’s ambition of succeeding President Robert Mugabe. The Daily News was told last night the campaign,…
HARARE – Questions on the House of Assembly’s Order Paper had to be deferred on Wednesday after several Cabinet ministers bunked the question and answer session. The ministers were said to be tied up at the explosive politburo meeting preceded by mass protests outside the Zanu PF headquarters. The move sparked an outcry from opposition…
BULAWAYO – A High school here has been forced to release “O” Level results withheld for two students whose school fees and levies were in arrears. Townsend Girls High authorities buckled under pressure from the Zimbabwe Lawyers for Human Rights, and released the results of Tanaka Ngwasha and Takudzwa Ngwasha. The two students were in…
HARARE – A Reserve Bank of Zimbabwe (RBZ) head of security, who testified yesterday in the ongoing rape trial of Bikita West legislator Munyaradzi Kereke, claimed that his office was requested to backdate the time that the MP had returned a gun issued to him by the Central Bank. Kereke, a former advisor to the…
HARARE – In a shocking development, it has emerged that hawkish permanent secretary for the Information ministry, George Charamba, is apparently calling Daily News advertisers and threatening them not to do business with the country’s top daily newspaper. The Daily News, which only came back to the market five years ago after nearly eight years…
