Business

Business

McDonald’s unveils plan for cutting antibiotics in beef

By AFP McDonald’s announced a plan on Tuesday for a phased reduction of antibiotics in beef, expanding a health-oriented reform to a new meat source other than chicken. The fast-food giant described a three-stage process where it would first undertake a study of its top 10 beef sourcing markets of current antibiotic use in livestock

Pardon Mujakachi

WorldRemit partners BancABC to boost cash-based remittances

By Business Reporter LEADING digital money transfer service WorldRemit has partnered with BancABC, a part of Atlas Mara, for digital money transfers to Zimbabwe. Using the WorldRemit app or website, the estimated three million Zimbabweans living in over 50 countries such as the United Kingdom, the United States, Canada and Australia, can now send money

Chinese businesses prepare to open shop in Zimbabwe

By African News Agency Chinese businesses are preparing to open shop in Zimbabwe which could boost the country’s desperate need for foreign investment. The acting Chinese Ambassador to Zimbabwe, Zhao Baogang, confirmed that his country was ready to enter into deals with companies in Zimbabwe, Pindula News reported on Tuesday. Baogang made the comments when

Reserve Bank of Zimbabwe

Tetrad Investment Bank moves out of judicial management

By Alois Vinga TETRAD Investment Bank (TIB) has been moved out of provisional judicial management and has now been handed over to its new management in a development that will see the troubled financial institution return to its normal business operations. Under Zimbabwean laws, judicial management is when a company’s management functions are taken over

Minister Prisca Mupfumira

Zim launches mobile application travel guide

By Alois Vinga ZIMBABWE has launched a mobile application which captures information on the country’s premier leisure sports and accommodation facilities in a development that aims to make it easier for tourists to plan their visits to the country. Briefing the media at a Harare hotel on Monday, Tourism Minister Prisca Mupfumira described the development

Chicken Inn’s parent firm picks Zimbabwean to run Kenya units

By Agencies ZIMBABWE’S largest fast-food restaurant operator, Simbisa Brands, has picked Zimbabwean national Salim Eceolaza as managing director of Simbisa Brands in Kenya. Eceolaza replaces Katja Berlee who has been at the helm of the Kenyan unit. Prior to his appointment Eceolaza was serving as the fast food chain’s group finance director. “We congratulate him

National Geographic Traveller lists Zimbabwe in Top 10 ‘must-see’ destinations

By African News Agency HARARE: National Geographic Traveller, one of the world’s leading travel magazines, has listed Zimbabwe as one of the 19 must see destinations in the world in 2019. Zimbabwe was placed at number nine, the highest ranking for any African country. Lonely Planet, another leading travel organisation, listed Zimbabwe as the third

ZIMTRADE secures exhibiting space at top Egypt trade fair

By Alois Vinga ZIMTRADE has secured space for Zimbabwean business people who would like to showcase their wares at the inaugural high level Intra-African Trade Fair (IATF) that will take place in Egypt next month. The ZIMTRADE board chairperson, Lance Jena said that locals intending to take advantage of the exhibition will be assisted. “We

Union besieges Stanchart bank HQ over job cuts; vows to take matter to ED

By Alois Vinga THE Zimbabwe Banks and Allied Workers Union (ZIBAWU) says it will approach parliament and President Emmerson Mnangagwa in a bid to stop Standard Chartered Bank from cutting jobs by transferring operations to foreign nations. Briefing NewZimbabwe.com on the sidelines of a demonstration staged at the bank’s headquarters in central Harare Thursday afternoon,

Industry and Commerce Minister Nqobizita Mangaliso Ndlovu

Government promises Zimchem bailout

By Kwekwe Correspondent THE government has pledged to assist struggling chemical producing firm Zimchem Refiners return to operating at full capacity. Industry and Commerce Minister Nqobizita Mangaliso Ndlovu recently told Zimchem senior management that government is committed to ensuring that the country’s industries are operating at full throttle. Zimchem is currently battling serious challenges with

UK-based Vast Resources reports solid quarter for Zimbabwe gold mine

By Agencies LONDON listed Vast Resources PLC has reported a solid third quarter for its Pickstone-Peerless gold mine in Zimbabwe with tonnes mined and milled beating the record achieved in the last three-month period. The mine delivered a 3% increase in tonnes of ore mined to 104,156 in the three months to September 30 from

Marlboro maker places $2.4 billion bet on marijuana

By Associated Press NEW YORK: One of the world’s biggest tobacco companies is diving into the cannabis market with a $2.4 billion buy-in. Marlboro maker Altria Group Inc. is taking a 45 percent stake in Cronos Group, the Canadian medical and recreational marijuana provider said Friday. Altria will pay another $1.4 billion for warrants that

Oil producers join forces and cut production again

By Associated Press VIENNA: Oil prices spiked sharply higher Friday as major oil producers, including the OPEC cartel, agreed to cut global oil production by 1.2 million barrels a day to reduce oversupply. Following two days of meetings, the Organization of the Petroleum Exporting Countries that includes the likes of Saudi Arabia and Iraq said

Indian diamond processors engage Zimbabwe over prices

By Alois Vinga INDIAN diamond processors have urged the Zimbabwe to consider scrapping the reserve price on its diamonds and, instead, come up with a flexible system, it has emerged. The Gems and Jewellery Export Promotion Council (GJEPC) of India made representations on the matter during meetings with Zimbabwe’s deputy industry minister Rajesh Modi who

Zim gold production in surprise slump

By Fin24.com Zimbabwe’s gold production has nosedived, if the latest official figures from the country’s sole buyer, Fidelity Printers, are anything to go by. Having breached last year’s gold production levels of 28 tons and this year’s target of 30 tons, the Zimbabwe authorities projected year-end gold output to reach an unprecedented output of 34