Business

HARARE – Zimbabwe hosts the inaugural Diamond Conference this month in Victoria Falls where 300 delegates are expected to attend giving the country an opportunity to consolidate relations with the international diamond community. Kimberly Process monitor for Zimbabwe Abbey Chikane acknowledged that the conference will serve to shed light on the country’s diamond mining activities….

HARARE – Anglo Platinum’s (Amplats) Unki Mine has agreed to cede a controlling 51 percent stake to locals, Indigenisation minister Saviour Kasukuwere has announced. “I am pleased that they have fully complied and we have managed to establish a win-win situation,” Kasukuwere said. According to the National Indigenisation Board (Nieeb), the deal valued at $142,…

HWANGE – Coal miner Hwange Colliery Company Ltd (HCCL) has reinstated more than 200 of its retrenched workers after failing to settle a $6,4 million bill in retrenchment packages. HCCL is reported to have retrenched about 204 workers in June this year, in a move that was meant to cut soaring operational costs. According to…

HARARE – The International Monetary Fund (IMF) on Tuesday relaxed restrictions on technical assistance to Zimbabwe, opening the way for an IMF staff-monitored economic programme. The move marks a major step toward normalising relations with the southern African country. “The executive board has decided to resume IMF technical assistance in certain new areas to support…

HARARE – LAM Mozambique, which made its first flight to Zimbabwe in 13 years on Tuesday, says it will seek a strategic partnership with Air Zimbabwe as a way of strengthening ties between the two countries. Air Zimbabwe has for some time now been seeking a strategic partner to restore viability of its operations lost…

HARARE – Delta Corporation, Zimbabwe’s biggest brewer and company by market value, will next week commission its new $17 million beverages bottling plant that has a capacity to produce 700 000 hectolitres (70 million litres) per annum. The new beer plant is expected to be more efficient on utilities like water and electricity which will…

HARARE – Finance minister Tendai Biti says Zimbabwe is faced with a 400 000 tonnes fertiliser shortage for the coming farming season. The input shortages are sparking fears of another poor harvest in a country that has experienced acute food shortages over the past decade. Biti yesterday told journalists after meeting with fertiliser companies that…

BULAWAYO – Financially-troubled National Railways of Zimbabwe (NRZ) has reportedly decided to offload all contract employees, as the parastatal seeks to slash its wage bill. The transport and freight utility has been battling to timeously pay its employees. A number of employees found themselves out of employment at the beginning of September and this month…

HARARE – Prime Minister Morgan Tsvangirai says government is forging ahead with the Medium Term Plan (MTP) amid slowing economic growth and the first signs of coalition tensions over missed fiscal targets. Senior Zanu PF officials have roundly blamed Tsvangirai’s MDC for failing to maintain the upward economic trajectory as promised at the start of…

HARARE – KLM Royal Dutch Airlines (KLM) says it will not be increasing the frequency of its flights on the Harare route until high landing fees charged by the Civil Aviation Authority are amended. Pieter Bootsma, vice president of KLM, said the airline had raised its concerns over the fee structure, a position confirmed by…