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George Maponga in Masvingo An elite Masvingo school, Kyle Preparatory School, has given troubled AfriAsia Bank a 48-hour ultimatum to transfer nearly $4,000 and about R60,000 into their account with…
Local farmers suffer as China offloads cotton
Elita Chikwati Harare Bureau Cotton hectarage is set to go down this farming season after local cotton companies cut financial support to farmers owing to a poor pricing system that has…
Chiyangwa’s company loses bid to stop auctioning of property
Daniel Nemukuyu Harare Bureau The High Court on Monday threw out a bid by Crittal Hope Private Limited, a company linked to businessman Philip Chiyangwa, to stop the removal and auctioning…
Econet re-enters insurance market
MOBILE telecommunications firm Econet Wireless yesterday marked its re-entry into the insurance market through the launch of EcoSure, which will house a number of products. Econet once ventured into the insurance…
China plans hike in cigarette taxes, prices
BEIJING — China is considering raising cigarette prices and taxes, a health official said yesterday, as the world’s largest tobacco consumer fights to stub out a pervasive habit. Smoking is a…
Nigerian naira gains after oil firms, central bank sells dollars
LAGOS — Nigeria’s naira firmed 1.5 percent against the dollar yesterday after state-oil company NNPC sold around $200 million, coupled with a central bank intervention to boost interbank forex market…
European shares stabilise
PARIS — European stocks rose in a technical bounce yesterday after sliding 3 percent over two days, although energy stocks dropped again as Brent crude fell toward $65 a barrel. Greek…
South African inflation slows to 5,8pc
JOHANNESBURG — South Africa’s inflation rate fell to 5,8 percent in November, staying inside the central bank’s target band for a third month and giving it room to keep interest…
Anglo to axe 60,000 jobs
LONDON — Global miner Anglo American aims to cut around 60,000 jobs as part of a wider re-organisation, says chief executive Mark Cutifani. He said on Tuesday that the company was…
Oil dips below $62 US a barrel
OIL prices resumed their rout today, dipping below $62 US per barrel after OPEC cut its forecast for world demand for oil. On Tuesday, oil prices had stabilized and moved slightly…