Markets

Markets

The GAC Entranze concept electric vehicle is unveiled at the North American International Auto Show on Monday

Trade war delaying Chinese automaker’s US plans

By Associated Press DETROIT: The U.S.-China trade war has delayed but not derailed Chinese automaker GAC Motor’s plans to enter the American market, company officials said Monday. Company President Yu Jun, speaking at Detroit’s North American International Auto Show, said the dispute is a factor in moving its U.S. product launch from the end of

Cement and beverage sales down by 50 percent

By Alois Vinga PLAYERS in the retail sector have reported that cement and beverages sales have gone down by 50 percent owing to the ongoing challenges linked to foreign currency shortages affecting the economy. Briefing delegates at a retailers breakfast meeting this week, N. Richards Group managing director, Archie Dongo revealed that the two products

South Korea orders seizure of Japan assets over forced labor

By Associated Press SEOUL: A South Korean court said Wednesday it has ordered the seizure of local assets of a Japanese company after it refused to compensate several wartime forced labourers, in an escalation of a diplomatic brawl between the Asian neighbours. Japan called the decision “extremely regrettable” and said it will push for talks

US negotiators in Beijing for trade war talks

By AFP US negotiators on Monday headed into talks with Chinese counterparts as the two countries seek a deal to end a trade war that has raised fears of global economic turmoil. The visiting delegation, led by Deputy US Trade Representative Jeffrey Gerrish, left its hotel in Beijing without speaking to reporters. President Donald Trump

Trump says ‘big progress’ made in talks with China

By Associated Press WASHINGTON: President Donald Trump says “big progress” is being made in talks between the U.S. and China to head off further escalation in a yearlong trade war. Trump says Saturday that he had a “long and very good call” with Chinese President Xi Jinping to discuss the talks, which stemmed from their

Global stocks gain after Wall Street rally, Japan falls

By Associated Press BEIJING: Most global stock markets advanced Friday while Japan edged down following Wall Street’s rally after a turbulent week. KEEPING SCORE: In early trading, Germany’s DAX rose 0.7 percent to 10,454.51 points and France’s CAC 40 advanced 0.7 percent to 4,627.44. London’s FTSE 100 added 0.1 percent to 6,655.09. On Thursday, the

North Korea’s ‘Singapore shops’ expose gap in sanctions push

By Associated Press PYONGYANG: Despite the unwanted publicity of a criminal trial for one of their main suppliers, business is booming at Pyongyang’s ‘Singapore shops,’ which sell everything from Ukrainian vodka to brand-name knock-offs from China. The stores stock many of the very things United Nations’ sanctions banning trade in luxury goods are intended to

At 20 years-old, euro is currency giant on fragile footing

By AFP The euro turns 20 on Tuesday, marking two tumultuous decades that saw the single currency survive a make-or-break crisis and become a fixture in financial markets and Europeans’ wallets. But it is destined to remain a fragile giant without closer eurozone integration, observers say. Born on January 1, 1999, the euro initially existed

Legal marijuana industry had banner year in 2018

By Associated Press PORTLAND: The last year was a 12-month champagne toast for the legal marijuana industry as the global market exploded and cannabis pushed its way further into the financial and cultural mainstream. Liberal California became the largest legal U.S. marketplace, while conservative Utah and Oklahoma embraced medical marijuana. Canada ushered in broad legalization , and

China says plans made for US trade talks in January

By Associated Press BEIJING: China’s government said Thursday it has made plans with Washington for talks in January aimed at ending a tariff battle that threatens to depress global trade. The two sides have “made specific arrangements for face-to-face meetings” and are talking by phone, said a Ministry of Commerce spokesman, Gao Feng. Gao gave

Henrietta Rushwaya

Fidelity Refiners to buy gold directly from artisanal miners

By Alois Vinga FIDELITY Printers and Refiners (FPR) has put in place arrangements for purchasing gold direct from artisanal and small scale gold miners amid hopes this will minimise the illegal exportation of the precious mineral. In a statement, dated December 19 2018, FPR general manager, Fradreck Kunaka confirmed the development. “Fidelity Printers and Refiners

Diaspora remittances stagnant at US$1.85bln – World Bank

By Alois Vinga ZIMBABWE has been receiving $1.85 billion from the diaspora over the past three years, a recent World Bank report has revealed. The report, Migration and Remittances, Recent Developments and Outlook, estimates that remittances for this year would be well under US$1.9bln, the same as in 2017 and 2016. This is down from

President Emmerson Mnangagwa

ED warns ‘gluttonous’ business operators for price hikes

By Alois Vinga PRESIDENT Emmerson Mnangagwa has warned the business community against hiking prices without justification hinting that his administration will continue to engage and work on the fundamentals that are necessary for the introduction of a national currency. Addressing delegates to a Zanu PF 17thannual conference in Esigodini Friday, Mnangagwa bemoaned the recent surge

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

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