Thursday, 9th April 2020


Articles related to business

‘Foreign banks to divest from Zim’

The Economist Intelligence Unit (EIU), an international think-tank, has warned that some foreign-owned banks operating in Zimbabwe could close shop after Indigenisation and Empowerment minister Saviour Kasukuwere recently gazetted regulations for their takeovers.
According to a Government Gazette published two weeks ago, Indigenisation ministry…

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Angola's oil exports set to rise 14.5 pct in Aug

Angola is set to export 1.81 million barrels of crude oil per day (bpd) in August, up about 14.5 percent from July, a provisional loading schedule showed on Monday, which traders said could depress futures prices and spot differentials.
Traders said the expected completion of maintenance at the Girassol oilfield boosted the export volume of…

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Zim banks grab illegal, says central bank

Zimbabwe's central bank chief Gideon Gono on Thursday warned the government against its planned seizure of majority stakes in foreign-owned banks, saying the move breached the country's own banking laws.

"There is no law that provides for arbitrariness on the part of anyone and or expropriation of banking assets in Zimbabwe yesterday, today or…

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SA: Current account deficit seen widening

South Africa’s current account deficit is likely to have swollen to 4.5% of GDP in the first quarter of this year from 3.6% the previous quarter, a Reuters poll showed.
The 10 economists surveyed forecast that the deficit, due to be reported on Thursday, will have widened due mainly to reduced exports to Europe - South Africa’s largest trading…

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Zim moves to seize foreign banks

The Zimbabwean government has gazetted new regulations to force banks and other sensitive sectors of the economy to cede the majority of their shareholding to locals.

The new thresholds would also compel foreign-owned tourism players, educational institutions, engineering companies; energy; telecoms, transport and motor industry companies to…

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Rand in ranges, eyes Greek polls

The rand steadied against the dollar on Wednesday and was expected to trade in a tight range ahead of a crucial weekend election that will determine Greece’s future in the eurozone.
At 06:37 GMT, the rand ticked down to R8.391, largely unchanged from Tuesday’s New York close of R8.39. The currency is expected to trade within R8.35 to R8.50 per…

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