adminEuropean stocks, euro retreat amid Greece uncertainty
LONDON. – European stocks and the euro declined on Friday as investors banked recent profits ahead of the weekend and amid uncertainty surrounding Greece’s bid to strike deals over its debt mountain. In European midday trade, the Paris CAC 40 fell 0,50 percent to 3 312,23 points, Frankfurt’s DAX 30 slid 0,46 percent to 6 387,09 points and London’s FTSE 100
Early warning critical in drought mitigation
Jeffrey Gogo Climate Story
THE current unpredictable rainfall patterns in Zimbabwe, compounded by unreliable observations from climate meteorologists, requires policymakers to establish early drought warning and tracking systems to minimise damage and
Iran donates to Mt Darwin District Hospital
Business Reporter
ZIMBABWE can draw lessons from Iran’s experience in use of indigenous knowledge and skills, the Iranian Ambassador to Zimbabwe, Mr Mohammad Pournajaf, has said. The Iranian ambassador was speaking at the donation of an assortment of
Construction of US$3bn power plant set to begin soon
The French consortium granted a licence by Government to set up a US$3 billion thermal power plant in the country is finalising preparations to commence construction, a Cabinet minister has said. When complete, the 2 000MW project to be rolled out over the next four years is expected to alleviate the country’s power woes that have been worsening over the years. The Government
ICTs — Opportunity for women empowerment
ZWRCN Desk Women Empowerment
When the Zimbabwe Women Resource Centre and Network issued out a call for women to register for basic computer skills training in November last year, the response was overwhelming, highlighting the hunger for technology among women in
New taxes insensitive
Jeff Gogo
THE euphemism of protecting and promoting the domestic manufacturing industry through raising taxes on imported goods is now predominantly tired, weak and, perhaps, out of time. Protectionism as a policy for encouraging and improving local
Greece pushes for debt deal, Italy unleashes reforms
ATHENS. – Greece raced last week to clinch debt and bailout funding deals as Italy was set to launch a vast programme of liberalisation reforms aimed at breathing new life into the economy. Greek Prime Minister Lucas Papademos was scheduled to meet again with global bank group representatives after talks last Thursday as his finance minister held discussions with
Moody’s downdrades Japan’s Sony, Panasonic
TOKYO. – Ratings agency Moody’s on Friday downgraded Japanese electronics titans Sony and Panasonic, giving both companies a negative outlook. The agency lowered its assessment on debt issued by Sony to Baa1 from A3, citing “weak and volatile” earnings. It downgraded Panasonic to A2 from A1, saying its analysts were concerned “that the weakness in Panasonic’s
West Group eyes debt-free Red Star
Golden Sibanda Senior Business Reporter
WEST GROUP is now waiting for starafrica to conclude the liquidation of Red Star Holdings Limited, as it considers acquiring the firm as a debt-free shell. It is also planning to reactivate its listing on the Zimbabwe Stock Exchange. While
Firms urged to start paying dividends
Bright Madera Senior Business Reporter
ECONOMIC challenges of the hyperinflationary period, characterised by liquidity problems, declining output and reduced profitability have prevented many companies from paying dividends. Most companies were concentrating on value