adminTata Motors’ quarterly profit up 12pc
MUMBAI. — India’s top vehicle maker Tata Motors yesterday posted a 12,2 percent rise in quarterly profit, but missed forecasts, even as strong sales of British brands Jaguar and Land Rover offset weak local demand.Most major world economies slowing: OECD
PARIS. — Most of the major world economies are slowing, with Britain the only country to see tentative signs of a pick-up, the OECD said yesterday.The Organisation for Economic Cooperation and Development said its composite leading indicators continued to point to “an easing of economic
Mine to hand over Mt Darwin clinic
Business ReporterRoserock Mine will tomorrow officially hand over a fully equipped clinic to the community of Mount Darwin West. Vice President Joice Mujuru, who is also the constituency’s Member of Parliament, will be the guest of honour at the event. The clinic, whose construction started in August last year, will
Kwacha devaluation hurts Dairibord
Tawanda Musarurwa Business Reporter
DAIRIBORD Zimbabwe Ltd has announced a decline in net profit for the half year to June 30, 2012, to US$1,9 million from US$2,3 million. The company attributed the knock on net profits to exchange losses suffered from its Malawi subsidiary. During the period under review, the Malawi
Cambria clears listing hurdles
Business Reporter
CAMBRIA Africa plc yesterday said it had fulfilled all conditions precedent to its secondary listing on the Zimbabwe Stock Exchange. The conditions include regulatory approvals from the relevant authorities. Cambria, which bought out Celsys minority shareholders in May, said the move would allow
CBZ nets US$18m
Golden Sibanda Senior Business Reporter
CBZ Holdings basic earnings per share jumped 34 percent to US2,92c after the group posted US$18,3 million in after-tax profits in the interim period to June 30, 2012. The growth in profits comes on the back of a 19 percent increase in deposits as advances moved a mere 0,7 percent against 42,2
Robber gunned down in police shootout
Daniel Nemukuyu Senior Reporter
AN armed robber was seriously injured, while his accomplice was arrested unhurt after a five-hour shootout and hide-and-seek with the police in Vainona, Harare, yesterday.
The robber, who is yet to be identified, was shot while on the roof of a house along Tarvey Road where he reportedly attempted to rob Mr Jacobs Lobbs and his wife.
Police recovered a pistol that was being used by the robber and 10 spent cartridges.
Takudzwa Wiseman (23) was arrested while his accomplice was rushed to hospital.
Witnesses thought the robber was dead, but sources said when the body was about to be placed into a metal coffin, there were signs of life.
As a result, the metal coffin could not be used.
Police spokesman Chief Inspector James Sabau confirmed the incident, saying the two had held hostage Mr Lobbs demanding cash when the police reinforcement came, prompting the robbers to hide in the ceiling.
“There was an exchange of fire between the robber and a police detail before officers from Borrowdale Police, CID Homicide and the Support Unit’s Armed Response Unit arrived.