By Alois Vinga THE number of tourists visiting the country from the European Union (EU) has increased by 29 percent, the Zimbabwe Tourism Authority (ZTA) has revealed. According to the ZTA chief executive Karikoga Kaseke, the positive swing is indicative of the potential for recovering lost ground in what was previously a key source market
By Bloomberg News Zimbabwean banks urged the government to introduce wide-ranging reforms amid signs the country is facing an economic crisis reminiscent of a hyper-inflationary spiral a decade ago. Finance Minister Mthuli Ncube is preparing to announce the 2019 budget later this month. He’s juggling a ballooning budget deficit, foreign-exchange shortages that are fuelling inflation, and
By Associated Press BEIJING: China’s foreign currency reserves declined in October in a sign Beijing might be intervening in the market to keep its yuan from falling too far against the dollar and triggering a possible U.S. backlash amid a tariff battle. The reserves, the world’s largest, declined by about $34 billion to just over
By Associated Press BERLIN: The German government’s panel of independent economic advisers has cut its growth forecast for this year, citing a tougher foreign trade environment, among other issues. The five advisers on Wednesday predicted growth of 1.6 percent this year in Europe’s biggest economy, down sharply from the 2.3 percent they forecast in March.
By Alois Vinga THE Zimbabwe Tourism Authority (ZTA) has engaged global news network, Aljazeera in efforts to market the country as a suitable tourism destination for world tourists. ZTA did this through signing a Memorandum of Understanding with the world news giant. The arrangement will see Aljazeera’s English channel broadcasting and listing all the facilities
By Alois Vinga FINANCE Minister, Mthuli Ncube has revealed that 93 percent of the country’s exports are destined for the African market as he urged local industry to up its game and take advantage of the vast international opportunities. He was addressing delegates at an Afreximbank trade briefing in Harare Monday morning. “In 2017, 93
By Agencies ZIMBABWEAN companies can take advantage of the current high growth trajectory of the Indian economy, Vice President Venkaiah Naidu has said. Naidu was in Harare as part of a three-nation African tour that also includes Botswana and Malawi. He said India and Zimbabwe have shared a very cordial relationship that dates back to
By UK Bureau AUSTRALIAN exploration company, Invictus Energy, has moved swiftly to downplay media reports claiming the junior resource group had discovered oil and gas deposits in Zimbabwe. On Thursday, company management attended a high-powered press conference in Harare addressed by President Emmerson Mnangagwa. Also present at the briefing were Mnangagwa’s two deputies as well
By Associated Press MEXICO CITY: Mexico’s president-elect said Monday he will respect the result of a referendum that rejected a partly built new airport for Mexico City, effectively ending the $13 billion project. “The decision taken by the citizens is democratic, rational and efficient,” Andres Manuel Lopez Obrador said after 70 percent voted against the
By Bloomberg News China’s yuan slid to the weakest level since May 2008, moving closer to the key level of 7 per dollar, as the central bank cut its daily fixing and on signs that a trade war with the US may escalate. The currency declined as much as 0.15% to 6.9724 per dollar in
By Alois Vinga BAKERS reduced bread prices from $2.20 to the normal $1.10 per loaf in under 2 hours after announcing the hiked prices following an intervention by the government. Companies such as Lobels and Proton announced Friday that the new price would take effect the following day in notices that were widely circulated on
By AFP Tastemakers at Lonely Planet have released their picks for the best travel destinations of 2019, giving Sri Lanka and Copenhagen top billing. When it comes to proclaiming the world’s best destinations, there is literally and truly a world of possibilities. But Lonely Planet’s Best in Travel report is based on the nominations of editors, researchers, locals and influencers.
By Bulawayo Correspondent MATEBELELAND province Commercial Farmers Union (CFU) chair, Innocent Winston Baggage has warned the country was heading for a disastrous 2018-19 farming season if government did not put steps to protect farmers from current diesel shortages and the pricing of inputs in foreign currency. Speaking in an interview with NewZimbabwe.com, Baggage also said
AFP Frankfurt – Germany’s KBA transport authority said on Friday it had ordered carmaker Opel to recall 73 000 diesel vehicles worldwide that were configured to fool regulatory emissions tests. The authority “ordered an obligatory recall on October 17” for Opel Insignia, Cascada and Zafira diesels meeting the latest Euro 6 emissions standard manufactured between
By Agencies Botswana Diamonds and its joint venture partner in Zimbabwe Vast Resource, are stepping up exploration activity at their concession in the African nation’s Marange Fields area. The decision comes after the companies received Wednesday a preliminary geological assessmentof the property, which shows Heritage contains several targets for modern alluvial diamond placer deposits. It also
By AFP More than 50 European and Asian leaders backed free trade and the fight against climate change on Friday in a veiled swipe at US President Donald Trump and his increasingly protectionist approach. As disputes fester with Washington, the 12th summit of the Asia-Europe Meeting (ASEM) gave its support to the World Trade Organization
By Agencies THE subsidiary of German developer Soventix has bagged a contract to build one of the largest solar PV projects in Zimbabwe standing at 22MW. This month, Soventix South Africa will start constructing the Harava project across 40 hectares of land in the Bwoni Village, Seke Rural District which is located South West of
By Associated Press NUSA DUA: Global financial leaders wrapped up an annual meeting of the International Monetary Fund and World Bank on Saturday by urging countries to brace for potential risks from trade disputes and other tensions. The meetings in Bali, Indonesia, this week were overshadowed by a spate of financial market turmoil and by
By Staff Reporter ZIMBABWE is set to host the 8th edition of Innovation Africa Summit, with a special focus on finding ways of improving the country’s education infrastructure to meet international standards. The summit which will bring together government officials responsible for education and Information Communication Technology (ICT) across Africa, captains of industry and investors
By Associated Press NUSA DUA, Indonesia: Escalating trade tensions between the U.S. and China could undo global progress in helping end extreme poverty, World Bank President Jim Yong Kim said Thursday at the outset of bank’s annual meeting with the International Monetary Fund and other financial institutions. Threats to growth and the trade that helps
