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UN puts Zim unemployment at 5%

JOHANNESBURG -Zimbabwe’s unemployment rate is 5.42 percent, the United Nations said on Tuesday.Unemployment rates in Zimbabwe are often reported to be between 80 and 90 percent, but these rates did not take into account the vast numbers of people in informal employment. According to a chart published by the International Labour Organisation (ILO), a UN agency, on its website Zimbabwe’s ... Read More »

Why a Samsung takeover of Blackberry would make sense

SEOUL – SOUTH  Korea January Samsung and Blackberry have splashed frigid water on a report that Samsung wants to make a $7.5 billion takeover offer for the struggling Canadian device maker. That, however, did not stop tech industry watchers from dissecting all the possibilities. Once strong in mobile devices, Blackberry is now an also ran, overtaken by the touchscreen offerings ... Read More »

Zim follows SA’s lead and orders fuel price slash

HARARE – GOVERNMENT has ordered all fuel dealers to reduce fuel prices by at least 20 cents by next week following a massive 60% drop in the prices of oil on the international market. Energy minister Samuel Undenge announced the directive saying the reduction should be done not later than Wednesday next week. Addressing journalists in the capital, Undenge said ... Read More »

US investor Peter Thiel buys in marijuana business

NEW YORK – THE pros are getting into pot. Founders Fund, the $US 2 billion San Francisco venture capital firm run by Silicon Valley stars including Peter Thiel, co-founder and former CEO of Paypal, said Thursday it is investing in Privateer Holdings, a marijuana company that owns several pot-related brands. Founders Fund, the $US 2 billion San Francisco venture capital firm ... Read More »

Record fuel price decrease for SA tomorrow

JOHANNESBURG – THE record drop in the price of all grades of fuel and diesel will give deeply indebted consumers an opportunity to reduce their debt load and start saving for a rainy day. The largest petrol price drop yet scheduled for Wednesday will see 95 octane petrol drop by R1.23 a litre while 93 octane will decrease by R1.27 ... Read More »

Zim unveils new coins

Harare – ZIMBABWE’s  today  unveiled four new coins in what some locals speculated was an attempt to test the waters ahead of a possible return of the Zimbabwe dollar. The coins, dubbed Bond Coins, are in denominations of one, five, 10, and 25 cents. They will be released into circulation on 18 December, the state ZBC radio reported. Their value ... Read More »

Air fares to go down, thanks to oil slump

GENEVA -FLYING could get cheaper next year as airlines say they will finally start passing on some of the savings made on plummeting oil prices. Carriers are forecasting record profits for 2015 thanks to cheaper fuel and rising demand. As a result, they expect to cut the average ticket price by 5 percent in 2015, excluding surcharges and taxes. That ... Read More »

Zim to launch SA produced coins on December 18

HARARE – Zimbabwe will issue a set of special coins this month to alleviate the shortage of change caused by the use of US dollars in place of Zimbabwe dollars in 2009. But  the country’s central bank says it  has no plan to reintroduce the Zimbabwe dollar in the near future. This set of coins, including one cent, five cents, ... Read More »

SAA increases flights to Harare and other key African destinations

JOHANNESBURG – SOUTH African Airways (SAA) with effect from today has added one more flight to  Harare and  four more  to Maputo as part of its drive to increase  air services to some of its key African routes. With effect from yesterday the national carrier increased its flights to Harare from 18 to 19  per week . “The strengthening of ... Read More »

More power cuts this weekend, warns Eskom

JOHANNESBUR - POWER  cuts are expected over the weekend as electricity supply remained constrained, Eskom said on Thursday. “While the demand for electricity is expected to be met today and tomorrow, there is a very high risk of load-shedding over the weekend,” the power utility said in a statement. “Eskom has targeted the weekend to conduct load shedding, should the need ... Read More »

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