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TPB Bank has almost doubled pretax profit in quarter one of this year thanks to net interest, thus cementing further its bid to list on Dar es Salaam Stock Exchange (DSE) main market.

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THE East African Community Secretariat has saved 3.4 m/ US dollar by cutting down travel expenses in 10 month period. The EAC secretariat said in a statement on Wednesday that it had significantly reduced traveling expenses in the period running from May 2016 to February 2017 compared to a similar period from May 2015 to February 2016.

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MAJOR cement producers struggled in the market last year with declining profit after sales revenue slumped due to intense competition and lower government spending on infrastructure projects.

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ABOUT 800,000 graduates enter the labour market each year and most of them fail to secure jobs; it is on this backdrop that the Entrepreneurship, Management and Development (IMED) Foundation is inviting potential young entrepreneurs for incubation programmes.

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THE Managing Director of National Insurance Corporation (NIC), Sam Kamanga has emphasized to member states of the Common Market for Eastern and Southern Africa (COMESA) to ensure that hitches hampering use of Yellow Card Scheme are removed.

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THE business community need to focus on ways of fighting poverty and create a favourable business environment, the Chairman of the Tanzania Private Sector Foundation (TPSF), Reginald Mengi has appealed ahead of the national business council slated for next week.

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THE government raised 166.86bn/- from its 15-year Treasury bonds offered for sale yesterday resulting to oversubscription, signalling improved liquidity situation among main bond investors.

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TANZANIA, with the second highest livestock population in Africa after Ethiopia, ironically gains very little from the hides and skins industry because it exports them in raw form.

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THE DCB Bank has inaugurated its new branch in the designate capital-Dodoma, with a call to entrepreneurs and the entire business community in the region to use the opportunity to expand their activities.

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DOMESTIC manufacturers need to boost production to fill in the gap created by falling imports, a Confederation of Tanzania Industries (CTI) officer says.

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PRESIDENT John Magufuli is expected to chair the Tanzania National Business Council (TNBC) slated for next week with a focus on improving business environment in the promotion of economic social development.

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CREDIT to private sector has gone down by almost five times to register a lowest growth in decades, as banks struggle to recover bad loans.

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MONEY MATTERS

Business

AS you know we are living in a dynamic world where things are changing not just by days but by seconds or even milliseconds. Something which was a best investment option last year could turn out to be the least viable option during the current year.

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NATIONAL Microfinance Bank (NMB) yesterday handed over a new outpatient waiting bay at the Jakaya Kikwete Cardiac Institute (JKCI) with a capacity of 100 seats.

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ACACIA Mining and Petra Diamonds are said to engage with the government regarding offloading 30 per cent to public as stipulated by new law.

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NATIONAL Economic Empowerment Council (NEEC) in partnership with basket trust funds plan to expand their services to benefit and facilitate the financially underserved rural population access loans for development.

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THE current account balance narrowed by nearly a half to a deficit of 1,811.6 million US dollars in the year ending February 2017 on account of a 15 per cent decline in imports of goods and services combined with increase in exports.

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TOL Gases, a leading industrial and medical gases manufacturer, has posted a pretax profit increase of 40 per cent, shedding hopes of announcing a first dividend.

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THREE customers have won various solar appliances from the German based firm, Mobisol Solar Energy firm energy that provides services in unconnected areas to the national grid.

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IITA, Eastern Africa Hub Director, Dr Victor Manyong

Business

INTERNATIONAL Institute of Tropical Agriculture (IITA) embarked on empowering unemployed university graduates into commercial farmers, an initiative that will transform them into agripreneurs.

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TANZANIA has featured in a list of top ten most attractive for investment flowing destination into African continent, emerging the only state from East Africa bloc.

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ACACIA Mining has announced gold production drop by almost 35,000 ounces in this year’s quarter one.

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OVER 400 stakeholders from public and private sectors will deliberate on the nexus between application of local content requirements and EAC industrialisation.

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PRIME Minister Kassim Majaliwa has counseled the national basket trust funds to observe integrity and prudence lending for the scarce resources to reach more people particularly the financially underserved population.

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VICE President, Ms Samia Suluhu Hassan has ordered the Tanzania Revenue Authority (TRA) commissioner general, Charles Kichere to set a schedule that will enable his office to meet traders from time to time so as to resolve challenges that face them.

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NATIONAL Microfinance Bank (NMB) has opened a new business centre in Kahama District, to serve the Western Zone regions of Shinyanga, Tabora and Kigoma.

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CAPITAL Markets and Securities Authority (CMSA) has extended Vodacom’s 476bn/- initial public offers by three more weeks to May 11.

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FORMER Israel Prime Minister, Ehud Barak has pledged to arrange another tour after being impressed by Tanzania’s unique tourist attractions.

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THE Dar es Salaam Stock Exchange (DSE) has celebrated Easter holiday strongly after closing last week trading on higher note.

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DEMAND for the five-year treasury bonds was high in an auction attracting bids worth 143.58bn/-, which is an oversubscription compared to the preceding session held in February, this year.

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THE completion of all the gasfired power projects will bring the Mtwara-Dar es Salaam gas pipeline into almost full capacity, the Tanzania Petroleum Development Corporation (TPDC) Acting Managing Director, Mr Kapuulya Musomba, said in Dar es Salaam yesterday.

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TATEPA Group has managed to post a slim pretax profit of 22.45m/- for the year ending 2016 from the loss of 5.69bn/- of same period in previous year.

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THE construction of 1,219-kilometre, Dar es Salaam- Mwanza- Kigoma Standard Gauge Railway (SGR) has commenced amid high expectation among Tanzanians who wish to see the railway recording good performance and contributing greatly to the nation’s economy.

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