Supreme Court Judgment Repercusions: Financial Gazette To Cut Staff By 35%,

Supreme Court Judgment Repercusions:  Financial Gazette To Cut Staff By 35%,

Local media houses like all other sectors of the economy continue fire workers with the Financial Gazette’s editor-in-chief Sunsleey Chamunorwa being the latest in a long list of causalities. Owned by former Reserve Bank of Zimbabwe Governor Gideon Gono, the Financial Gazette announced in its latest edition that it would cut staff by 35%, sending shockwaves across the industry. Early this week, Alpha Media Holdings publishers of The Standard, NewsDay and The Zimbabwe Independent cut…

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US Government To Build New ($199 million) Embassy Compound In The Bluff Hill Area

US Government To Build New ($199 million)  Embassy Compound  In The Bluff Hill Area

THE US government will this year begin the construction of a new Embassy compound in Harare valued at $199 million. This comes after the Department of State Bureau of Overseas Buildings Operations (OBO) awarded a tender to B.L. Harbert, International of Birmingham, Alabama for the construction work. The new Embassy will be located on a 16.5-acre site in the Bluff Hill area. The complex will include an office building and associated support facilities. US ambassador…

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‘Ongoing Job losses , Good For The Industry’-Industry &Commerce Minister, Mike Bimha

‘Ongoing Job losses , Good For The Industry’-Industry &Commerce Minister, Mike Bimha

Industry and commerce minister, Mike Bimha said the ongoing wave of job losses is good for the industry. The minister said local companies had been saddled with ‘excess workforce’ before a recent Supreme Court ruling gave employers leeway to fire workers without the costs associated with retrenchment packages. President Robert Mugabe said on Wednesday that over 9,000 workers had lost their jobs since the Supreme Court’s July 17 ruling which allowed employers to dismiss workers…

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Gvt To Cut Public Sector Wage Bill From Current 80 % Down To 40% Of Total Revenue

Gvt To Cut Public Sector Wage Bill From Current 80 %  Down To 40% Of Total Revenue

Finance minister on Thursday said government plans to cut the public sector wage bill to 40 percent of total revenue from the current 80 percent. The development signals a move to reduce the government’s bloated civil service, amid a lower economic growth forecast of 1,5 percent from the initial 3,2 percent. Presenting the Mid-Term Fiscal Review in Parliament on Thursday, Patrick Chinamasa said 83 percent of government’s $2 billion costs were going to the salaries of…

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‘Goats Will Not Roam In Zimbabwe’s Urban Areas Like West African Chaos’

‘Goats Will Not Roam In Zimbabwe’s Urban Areas Like West African Chaos’

Goats will not be allowed to roam in central Harare, President Robert Mugabe vowed Wednesday, insisting that his government would not tolerate the sort of chaos he has witnessed travelling in West Africa. The veteran leader was addressing a small enterprises expo in the capital when he declared that vendors who have flooded towns and cities across the country will be forcibly moved to designated trading places. Thousands of people have besieged city centres across…

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‘Demon Posessed UK and Britain , Are funding Vendor Resistance’ -Mugabe

‘Demon Posessed UK and Britain , Are funding Vendor Resistance’ -Mugabe

President Robert Mugabe has accused Britain and the United States of sponsoring vendors to resist government orders to move out of the country’s city centres. The 91-year-old leader always blames everything that goes wrong with the country on former coloniser Britain and its ally, the US. He insists the economic crisis which has collapsed formal industry and crippled the country was triggered by spiteful sanctions imposed by the West. On Wednesday he said the UK and…

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‘Zimbabwe’s Tax Collections 6% Below Target’-Zimbabwe Revenue Authority (ZIMRA)

‘Zimbabwe’s Tax Collections 6% Below Target’-Zimbabwe Revenue Authority (ZIMRA)

Zimbabwe’s tax collections were six percent below target during the first half of the year while mining royalties and value added tax plunged, reflecting a struggling economy, the tax agency said on Wednesday. The economy, where mining contributes around 17% to gross domestic product, is expected to struggle this year due to low commodity prices and a poor farming season. Willia Bonyongwe, the chairperson of the Zimbabwe Revenue Authority (ZIMRA) said tax collections between January…

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Groceries Taken Off Travellers Rebate, Used Clothing & Shoes Import Banned

Groceries Taken Off Travellers Rebate, Used Clothing & Shoes Import Banned

Zimbabwe’s finance minister, Patrick Chinamasa has revealed plans to reduce the wage bill by 40% from the current 80% as the government struggles to reduce its expenditure. In his presentation of the Mid-term Fiscal Review in Parliament on Thursday, Chinamasa the move would free fiscal space to cover projects under the Zimbabwe Agenda for Sustainable Socio Economic Transformation. Chinamasa said revenue for 2015 would be $3,6 billion against a target of $3,99 billion. Expenditure would…

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‘9 000 People Dismissed Since Controversial Supreme Court Ruling’-Mugabe

‘9 000 People Dismissed Since Controversial Supreme Court Ruling’-Mugabe

President Robert Mugabe yesterday disclosed that at least 9 000 people have lost their jobs since the controversial Supreme Court ruling that gave employers the leeway to terminate contracts after giving three months’ notice. Mugabe told delegates at the inaugural Small To Medium Enterprises International Expo in Harare that labour laws will be reviewed because the ruling had “created problems for people”. “If the law is going to create problems for the people, that law…

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‘Mugabe Is Unmoved By Obama Snub’-Mugabe’s spokesperson ‘George Charamba’

‘Mugabe Is Unmoved  By Obama Snub’-Mugabe’s spokesperson ‘George Charamba’

President Robert Mugabe’s spokesperson has reportedly described President Barack Obama’s visit to the African Union (AU) headquarters as “just a visit by another visitor”. George Charamba said this after Mugabe, who is the current AU chairperson was excluded from meeting Obama during his visit at the AU headquarters in Addis Ababa, Ethiopia on Tuesday. Mugabe also chairs the Southern African Development Community (SADC). Charamba said Mugabe was “unmoved” by Obama’s visit to the AU headquarters,…

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