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Tuesday, August 20, 2019

Business

Mail and Telegraph Business News

A CHIPINGE man of “extraordinary luck” has dismissed accusations he uses black magic to win prizes after he won a car at the 2019 OK Grand Challenge which came to an end over the weekend. Clemence Muhle, who last year baffled the nation after a bizarre feat in which he won three...
Zimbabwe’s largest hydroelectric plant, Kariba Dam, will suspend output in 14 weeks if water levels continue to fall at the current rate, the energy minister said on Thursday, paving the way for deeper power cuts in the country. Shortages of foreign currency have hampered Zimbabwe’s ability to import fuel –...
Zimbabwe Energy Regulatory Authority (ZERA) Senior Engineer Samuel Zaranyika said they are pursuing to put into effect an act that will not allow any house plan to be approved without solar gysers. Speaking on a workshop which was hosted by Guarantee Risk Solar Energy in Harare, Zaranyika said ZERA discourages...
The fuel situation in the country remained critical yesterday despite the hike in prices on Tuesday, triggering transport blues in Harare and Bulawayo as “the revitalised” Zimbabwe United Passenger Company (Zupco), with slashed fares, failed to cope with demand. There were long queues at fuel stations in Harare and Bulawayo...
Former finance minister Tendai Biti says the country's inflation was the second highest in the world  after Venezuela. Debating on the consumer protection bill in the national assembly, Biti said the country's consumers were exposed to abuse by business and state actors. "I rise to give my qualified support to this...
Government has reduced import duty on diesel and petrol in an effort to avoid further fuel increases. In an interview, Permanent Secretary in the Ministry of Finance and Economic Development George Guvamatanga said duty on petrol and diesel had been reduced from $2.05 and $2.30 to $1.15 and $0.90. "Government has...
THE Zimbabwe Energy Regulatory Authority (ZERA) has gazetted new maximum retail prices of fuel reflecting average increases of 46 percent for blend petrol and 49 percent for diesel, with the new prices effective from today. ZERA said the new prices were premised on the interbank market rate and will see...
Zimbabwe Energy Regulatory Authority (ZERA) has not changed fuel prices despite the change in foreign currency rates. In a press statement,  ZERA Acting Chief Executive Officer Edington Mazambani said the petroleum Industry was advised that prices of fuel had not changed and operators were expected to continue selling fuel into...
The Reserve Bank of Zimbabwe has announced the removal of subsidy on the importation of fuel-a warning of a price hike to the commodity. In a statement issued Monday, Reserve Bank of Zimbabwe governor, John Mangudya said the procurement of fuel which for long has been on 1:1 basis, will...
Zimbabwe exports have increased by at least 15%, Finance minister Mthuli Ncube has said. Delivering his state of the economy in the national assembly, Ncune said in the first quarter of 2019, exports have increased by at least from $880 million to more than $1 billion. "Turning to exports, during the...
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