August 2024

Klarna: AI lets us cut thousands of jobs – but pay more

The buy now, pay later firm Klarna is seeking to get rid of almost half its employees in the coming years through efficiencies it says arise out of its investment in artificial intelligence (AI). The firm has already cut its workforce from 5,000 to 3,800 in the past year, and…

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August 29, 2024

National Report

Zimplats ups capex by 45pct

PLATINUM group metals (PGMs) miner Zimplats Holdings (Zimplats) spent US$440 million in capital expenditure during the financial year ended June 30, 2024 on a series of stay-in-business, mine replacement and expansion projects, which was 45 percent above previous year’s spending of US$304 million. (more…)

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August 29, 2024

CZR seeks cuts in bank charges

THE Confederation of Zimbabwe Retailers (CZR) has urged the central bank to reduce and standardise bank charges to make digital transactions more attractive and curb the growing shift towards a cash economy. (more…)

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August 29, 2024

Forex receipts up, current account in ‘the green’

ZIMBABWE’S foreign currency receipts have risen to US$6,2 billion in the six months to June and which has positively impacted the current account deficit, Finance secretary George Guvamatanga has said. (more…)

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August 29, 2024

Companies & Markets

CBZ secures US$20m exporters’ credit line

CBZ Holdings has secured a US$20 million credit line from the Trade and Development Bank Group (TDB) to be channelled to exporting companies. (more…)

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August 29, 2024

Mixed rainfall forecast for Zimbabwe

THE Southern Africa Regional Climate Outlook Forum (SARCOF) has predicted an increased likelihood of normal to below-normal rains in the October to December period in Zimbabwe. (more…)

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August 29, 2024

International News

Warren Buffett sells more BofA shares, reaping $982m

Warren Buffett sold an additional $982 million of Bank of America Corp stock as his conglomerate continues to shrink its investment in the second-largest US bank.…

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August 29, 2024

International News

Vodacom request to appeal ‘please call me’ ruling heads to court

South Africa’s top court will hear an application from Vodacom Group for leave to appeal a ruling that it pay a former employee billions of rands in compensation for an idea he proposed more than two decades ago.…

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August 29, 2024

Companies & Markets

Time Bank races to meet core capital requirement

By Kudzanai Gerede Companies and Markets Editor TIME Bank of Zimbabwe Limited (Time Bank) says it has up to December 31, 2024 to shore up its capital base to US$30 million in line with tier one bank minimum requirements after getting a reprieve from the regulator. (more…)

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August 29, 2024

Companies & Markets

Government gazettes self-listing rules

Kudzanai Gerede Companies and Markets Editor Government has gazetted self-listing regulations through Statutory Instrument (S.I) 147 of 2024 which could pave the way for the Zimbabwe Stock Exchange (ZSE) to list on any of its bourses in future. (more…)

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August 29, 2024

Wednesday, 18 September 2024

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