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FBC’s bottomline uo 21% in F16 as Mushayavanhu says TBs wont strain financial sector

00FBC’s bottomline uo 21% in F16 as Mushayavanhu says TBs wont strain financial sector HARARE – FBC group chief executive, John Mushayavanhu, has the argument dominating the market on government’s inability to pay for treasury bills (TBs) on maturity does not hold water, as past experiences have proven government’s ability to pay both interest and…

Truworths suffers $1m loss as demand weakens

00Truworths suffers $1m loss as demand weakens HARARE – Traditionally, the December peak season drives Truworths first half performance, which would eventually have a bearing on the group’s profitability at year end. The last period was however more broadly characterized by salary reduction, delayed monthly payments – which resulted in subdued trading conditions. According to…

Billions flow unaccounted through capital flight in Zimbabwe – Report

00Billions flow unaccounted through capital flight in Zimbabwe – Report HARARE – Hostile policies, macroeconomic and political instability have largely contributed to capital flight and left the minerals sector vulnerable to smuggling and illicit flows out of Zimbabwe, a new research says. The report, Capital Flight and Trade Misinvoicing in Zimbabwe, conducted by Zimbabwe Economic…

Zim incapable of maintaining US dollar: Chakravati

00Zim incapable of maintaining US dollar: Chakravati HARARE – ZIMBABWE could soon be forced to adopt the South African Rand as it is incapable of maintaining a strong US dollar, an economist said on Wednesday. Speaking at the Confederation of Zimbabwe Retailers (CZR) symposium to mark 100 days of bond notes circulation, economist, Ashok Chakvarati said…

Zimbabwe has a Happiness deficit – report

00Zimbabwe has a Happiness deficit – report Very few Zimbabweans knew that it was International Day of Happiness yesterday. The day was just like any other to the majority of the country’s citizenry. While the United Nations says “it’s a day to be happy, of course!”, some were probably not happy at all, perhaps frustrated…

Non-life insurance companies report $216m GPW in FY2016

00Non-life insurance companies report $216m GPW in FY2016 HARARE – Non-life assurers recorded a modest growth of 1.19 percent in gross premium written (GPW) last year. GPW increased marginally from $213.44 realised in 2015 to $215.97 in 2016, data released by the Insurance and Pensions Commission show. Business Written Trend Since 2012 ipec “The slight…

Of Inflation and Interest Rates

00Of Inflation and Interest Rates HARARE – In the United States, the Fed increased interest rates to try and control inflation. The Fed wants inflation to stay suppressed after rising to 2.7 percent. In Zimbabwe, the Reserve Bank of Zimbabwe is trying to cut down interest rates, to make borrowing cheaper, to encourage consumers to…

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