adminART Corporation records $1,16m loss
Walter Muchinguri Harare Bureau Diversified group, ART Corporation recorded a $1,16 million loss in the half year period ended March 31, 2014 from a profit of $236,000 a year earlier…
AfrAsia Bank misses deadline
Conrad Mwanawashe Harare Bureau AFRASIA Bank has failed to beat the deadline to settle the $12,5 million for shares held through banker Nigel Chanakira’s Crustmoon which would have concluded the…
South Africa’s largest union threatens strike
JOHANNESBURG — South Africa’s largest union yesterday warned of an imminent strike that could hit the country’s struggling manufacturing sector, amid a deadlock over wage increases. More than 200,000 members…
ECB tests Scandinavian-style negative rates
STOCKHOLM — With its decision yesterday to introduce a negative bank deposit rate the European Central Bank has become the first major central bank to experiment with a mechanism pioneered…
Kenya Airways historic flight lands in France
NAIROBI — Kenya Airways’ inaugural B787 Dreamliner flight has landed in France. The B787 Dreamliner flight services the Nairobi-Paris route. According to a statement by the airline, the Dreamliner has…
Mega-fine on BNP Paribas unsettling
PARIS — A mega-fine of more than $10 billion by US authorities on France’s BNP Paribas bank could have damaging knock-on effects which are worrying European policymakers, but analysts said…
Pie’s the limit for Chinese presidential lookalike
BEIJING — Business is booming for one meat-pie vendor in central China, but it is the trader’s uncanny likeness to President Xi Jinping that sets him apart from the competition.…
Shoprite expands to Ibadan
LAGOS — Shoprite, the South African-headquartered group, said it would commission a new outlet in Ibadan, Oyo State, as part of its ongoing expansion plans. The company said that the…
Oil prices dip on hopes of Ukraine crisis easing
SINGAPORE — Oil prices dipped in Asia yesterday after Russian President Vladimir Putin held out a hand to crisis-hit Ukraine, raising hopes of an easing in the worst East-West standoff…
Rand snaps four-day losing run, awaits ECB outcomes
JOHANNESBURG — The rand edged up for the first time to the dollar in five sessions yesterday as the recent sell-off in emerging market currencies abated ahead of the crucial…