Business
Published on: 1st March, 2010
ZCTU President Lovemore Matombo"Although the principle of the law is good, we fear that this could lead to a creation of new minority blacks who will just replace the minority whites," Lovemore Matombo president of Zimbabwe Congress of Trade Unions told AFP. |
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BULAWAYO, Zimbabwe — Zimbabwe’s new local ownership law, requiring locals to own 51 percent of major foreign firms, could hurt the nation’s economic recovery, the main labour body said Monday.
The law took effect Monday, giving companies valued at more than 500,000 US dollars 45 days to inform the government of the racial make-up of their [...]
Published on: 20th February, 2010
Power cuts worsen after plant shutdown |
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HARARE (Reuters) – Zimbabwe’s state power utility ZESA Holdings has extended electricity cuts after a complete loss of generation at the Hwange thermal plant, the company said in a statement on Saturday.
Most urban areas have for the past week experienced prolonged electricity cuts, sometimes lasting more than 24 hours.
ZESA said Hwange, with a design capacity [...]
Published on: 20th February, 2010
IMF restores Zim voting rights after 7 yrs |
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WASHINGTON, Feb 19 (Reuters) – International Monetary Fund member countries on Friday restored Zimbabwe’s voting rights after a seven-year suspension but said it could not have access to IMF funds until it had paid off $1.3 billion in arrears.
While the move is more symbolic, it is also a step by the international community to recognize [...]
Published on: 18th February, 2010
Court blocks govt mining in Marange |
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HARARE — Zimbabwe’s Supreme Court has ordered two government mining firms to stop operations on British-owned diamond mining fields plagued by human rights abuses, state newspapers reported Thursday.
The case was brought to the court by British-based African Consolidated Resources (ACR) in a bid to win back its mining rights which were suspended in 2006. The [...]
Published on: 12th February, 2010
The Zimbabwe Dollar reached record infaltion levels before it was eventually scrapped. |
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By Jason Moyo
The answer to the question of how Zimbabwe’s economy has fared under its unity government lies somewhere between its much improved economic data, and the growing frustration of the country’s workers.
The statistics tell a story of a remarkable recovery from years of decay, but a crippling strike by government workers shows how little [...]
Published on: 11th February, 2010
Minister Saviour KasukuwereMinister Saviour Kasukuwere, whose ministry is yet to explain how it illegally foisted 13 000 Zanu PF youths on the government payroll, has decided to rail-road controversial, anti-investment regulations without the knowledge of Cabinet and the Head of Government, the Prime Minister. |
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The MDC dismisses the clandestine and nicodemous gazetting of regulations calling for all foreign investors to cede 51 percent of their investment to ‘indigenous people.’
Minister Saviour Kasukuwere, whose ministry is yet to explain how it illegally foisted 13 000 Zanu PF youths on the government payroll, has decided to rail-road controversial, anti-investment regulations without the [...]
Published on: 9th February, 2010
Judge tells SA to pay for Mugabe sins |
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By Karen Breytenbach
The South African government has been hauled over the coals by a Pretoria High Court judge for not protecting its citizens from Robert Mugabe’s land expropriations.
The government was ordered to pay damages to a South African farmer to whom it failed to provide diplomatic protection after Mugabe’s government seized 11 of his farms [...]
Published on: 7th February, 2010
Mines Minister Obert Mpofu |
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Harare – A 29kg consignment of diamonds from Zimbabwe’s controversial Chiadzwa diamond field has disappeared after being removed on Thursday night by police from the central bank, in violation of orders by the country’s supreme court, lawyers said at the weekend.
The incident is the latest turn in the long-running legal dispute between British-registered mining company [...]
Published on: 4th February, 2010
Sizing screen at MurowaMining giant Rio Tinto is content with its Zimbabwe diamond operation and intends to push forwards with the Murowa venture, Harry Kenyon-Slaney, Rio's chief executive of diamonds and minerals said. |
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Mining giant Rio Tinto is content with its Zimbabwe diamond operation and intends to push forwards with the Murowa venture, Harry Kenyon-Slaney, Rio’s chief executive of diamonds and minerals said.
Speaking at the Mining Indaba conference, Kenyon-Slaney told Mining Weekly that he would be visiting Zimbabwe this week in order to meet with local mining industry [...]
Published on: 4th February, 2010
Marange AirfieldA secret airstrip, apparently for clandestine weapons shipments, is being built in a diamond field illegally seized by the Zimbabwean army.
Diplomats believe the arms shipments will probably come from China, for which President Robert Mugabe's troops will pay on the spot with gemstones from the Chiadzwa diamond mines.
Aerial pictures show a newly built control tower and a runway nearly ready for surfacing. |
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Harare – The Zimbabwe Mail can reveal that the armed group behind the attack on a British-Diamond company African Consolidated Resource’s (ACR) in Harare on Tuesday night belongs to a Zanu PF faction led by Retired Army General Solomon Mujuru, a Senior Zanu PF source said last night.
State media linked the incident to much-publicised [...]
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