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/ 5 October 2007

Zim to press ahead with foreign-business seizures

The Zimbabwe government said it is pressing ahead with legislation to seize a controlling share of foreign-owned mining interests in the country, the official media reported on Friday. Police also said a total of 23 585 corporate executives, store managers, traders, street vendors and bus drivers were arrested for overcharging since a prize freeze was ordered.

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/ 27 September 2007

Foreign firms assess new Zimbabwe ownership Bill

Foreign-owned companies in Zimbabwe said on Thursday they were assessing the likely effects on their business of a new law forcing them to give local owners majority holdings. The Empowerment Bill, pushed through Parliament by the government on Wednesday, will give Zimbabweans a 51% stake in foreign firms, including the important mining and banking sectors.