ZIMBABWE NEWS ON FASTMOVING

Zimbabwe Stock Exchange-listed household and appliance retailer, Pelhams Limited, is forecasting a loss in the first half to September due to subdued consumer spending on the back of an underperforming economy, a company official has said. read more

Edgars Stores Limited after-tax profit for the 26 weeks ended July 6 was up 17% to $1,1 million, buoyed by growth in revenue.  read more

VENTURES AFRICA – Sugar prices continue to slide in Tongaat Hulett’s (Tongaat) regional markets, CEO Peter Staude, admitted on Wednesday, adding the global prices have been their lowest in several years. read more

Zimbabwe Stock Exchange-listed industrial concern Delta Corporation Limited, an associate of SAB Miller of South Africa, says it is still waiting for a response from government on an indigenisation plan submitted three years ago, the group chief executive has said. read more

The injection of long-term capital into Victoria Foods and the debt restructuring initiative is projected to induce positive performance for diversified CFI Holdings Limited. read more

Speaking at the Buy Zimbabwe procurement conference in Harare yesterday, Kasukuwere said companies should comply with the stipulated procurement regulations, in which local firms should be granted at least 50% contracts on procurement deals. read more

Harare - Chinese Vice Premier Wang Yang arrived in Zimbabwe on Tuesday on a business visit praising Beijing's ties with the southern African country. read more

Harare - Delta Beverages, the Zimbabwe-based subsidiary of SABMiller [JSE:SAB], continued to defy the odds in the economically ravaged country with forecast-beating earnings for the year ended December 31 2012. read more

Diversified company Lifestyle Holdings has introduced a TN Virtual Mart — where it will deliver groceries to its clientele’s doorstep, as competition in the country’s retail sector intensifies. read more

Experts contend that the introduction of the multiple-currency system in 2009 has seen low income retail shops which thrived during the years of economic meltdown scale down their operations due to heightened competition. read more

Harare - South African investors are considering investing at least $1.6bn (R13.37bn) in capital projects in various sectors of the Zimbabwean economy, a Zimbabwean government minister said on Monday. read more

Zimbabwe's TM Supermarkets, in which Pick n Pay is a partner, has invested a further $25m into the retail chain, with the money aimed at transforming its retail outlets through refurbishment of the group’s 50 stores across the country. read more

Harare - Zimbabwe is working on putting stringent measures on meat imports from South Africa amid concerns of contaminated meat products from the country.  read more

Zimbabwe Stock Exchange-listed diversified entity Meikles Limited is this week set to unveil is its second state-of-the-art Pick ’n’ Pay supermarket bringing to two such branches in the country. read more

(Reuters) - SABMiller's Zimbabwe unit reported a 41 percent jump in half-year earnings on Wednesday, driven by strong beverage sales growth in the recovering economy.  read more

Harare - Zimbabwe's manufacturing industry is in crisis with firms under-performing due to erratic power supplies and lack of capital, an industry body said on Wednesday. read more

SABMiller planned to take its African beer brand, Chibuku, to 10 countries across the continent, as part of its strategy to produce more affordable beer for lower-income consumers while taking market share from the “informal” alcohol sector, the brewer said last week.  read more

Turnover at Meikles for the quarter to 30 June 2012 was up 15% to $89m compared to the same period in 2011.  read more

Retailer Pick n Pay opened its first supermarket in Kamfinsa, Zimbabwe, on Thursday.  read more

Despite growing concerns over Zimbabwe’s continuing 51% indigenisation programme that has ruffled the feathers of foreign investors, South African retail giant Pick n Pay is expanding in Zimbabwe, with plans to open a new supermarket in Harare at the end of the month. read more

Zimbabwe Stock Exchange-listed conglomerate Meikles Limited is set to open the first Pick’n Pay Supermarket in Kamfinsa, Harare, this month following the injection of $13 million into the group. read more

A ground-breaking one-stop border post (OSBP) at Chirundu between Zambia and Zimbabwe has demonstrated how the cost of trading in Southern Africa can be substantially reduced by streamlining border procedures. read more

Spar, Shoprite and Pick n Pay have shrugged off an indigenisation broadside from the Zimbabwean government, which was reported to have issued a directive yesterday that licences for foreign-based chains not be renewed to facilitate localisation of the businesses. read more

Harare - Zimbabwe's competition regulator approved Pick n Pay Stores [JSE:PIK] plans to raise its stake in that country’s biggest grocery merchant, a $13m deal that forms part of the South African food retailer’s expansion plans across the continent. read more

Johannesburg - Sugar producer Tongaat Hulett [JSE:TON] advised on Friday that its headline earnings per share for the half-year ended September 2011 are expected to be 474 cents per share compared with 482c for the six months to September 2010. read more