The Sunday News
LOCAL companies must start to innovate to counter the effects of imports which has now been fueled by the continued slid of regional currencies against the dollar.
The dollar has been firming among major currencies in the region resulting in imports getting cheap. However, this has put local accompanies in a fix as they are now competing with cheap imports while their exports goods are now deemed expensive in the region.
Meanwhile, the Industrial index retreated 0.33 points (0,32 percent) to close at 103.05 points. Innscor dropped by $0,0053 to trade at $0,2050; Barclays put off $0,0025 to $0,0385 while Delta shed $0,0007 to settle at $0,5493. Econet was $0,0005 weaker at $0,1955.
Trading in the positive, Turnall rose by $0,0010 to close at $0,0110, Zimre Holdings added an insignificant $0,0002 to $0,0130 while Nicoz Diamond inched up $0,0001 to trade at $0,0162.
Week on week Industrial index dropped 6.83 points (6,22 percent).
The Mining index lost 1.97 points (9,06 percent) to settle at 19.77 points as Bindura went down by $0,0025 to $0,0103. Falgold,
Hwange and RioZim maintained previous price levels at $0,0050, $0,0300 and $0,1040 respectively.
Week on week Mining index retreated 1.97 points (9,06 percent).
