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THE government plans to establish a commercial hub and dry port in Dodoma for anticipated rise in commercial activities after completion of upgrading of the airport in the designated capital.

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DECLINING foreign exchange reserves should not be a cause for alarm as it is still within the appropriate levels which will be boosted further by rising exports from the manufacturing sector, the Central Bank Governor has said.

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THE government has guaranteed local and foreign investors full support and promised to continue improving the business environment.

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DRY money in the circulation has continued to haunt the trading of the debt instrument making the 15 years treasury bonds to end up under subscribed. Despite the tight monetary squeeze, the Bank of Tanzania (BoT) said the money currently in circulation is enough to make the economy lubricant.

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TCCIA Investment Company is expecting to list its share on Dar es Salaam Stock Exchange (DSE) in the next three months after shareholders endorsed the move.

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CASH squeeze in circulation should be nothing to worry much about as it is part of measures undertaken to control the economy, a senior Central Bank official has said.

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ABOUT 14 Villages around Bulyanhulu Gold Mine site in Msalala and Nyang’wale Districts of Geita and Shinyanga regions will benefit from entrepreneurship skills project aimed at engaging youth groups in self-help economic activities instead of relying on small-scale mining only.

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TIGO Tanzania has donated 350 desks worth 58mil/- to 12 primary schools in Tabora, Urambo and Nzega to support government’s effort to ease shortage of desks for primary school in the country.

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NATIONAL Microfinance Bank (NMB) shares rallied by 5.2 per cent after listing its three-year 41.4bn/- bond on the Dar es Salaam Stock Exchange (DSE) yesterday.

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LOCAL Liquefied Petroleum Gas (LPG) distributors have expressed satisfaction with the government move to adopt the bulk procurement system in importing LPG. Oryx Energies’ Retail Sales Manager (Inland), Mr Mohamed Mohamed told the ‘Daily News ‘that local distributors were happy with the decision and that they expect changes in the business starting September, this year.

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TANZANIA leather industry faces bleak future as global commodity price slump lowered demand for value added leather products from major importers.

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MICROFINANCE institutions are failing to extend financial services to cover more areas due to their internal weaknesses, an industry player has suggested.

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TANZANIA Forest Industries Federation (SHIVIMITA) has hailed the government for suspending issuing of timber harvesting permits as that will pave the way for forest plantation review.

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TREASURY Registrar (TR) Lawrence Mafuru has said Twiga Bancorp customers’ savings were safe and the bank was steady to offer its services.

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DAR ES SALAAM Stock Exchange (DSE) has shown signs of recovery from bearish trend gripped the market since the beginning of this year. Stockbrokers are predicting the bourse turnaround after high demand noticed on industry and allied sectors fuelled by foreign investors.

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THE Tanzania Portland Cement Company (TPCC) Limited customers are set to benefit from various prizes worth 116m/- in a lottery launched in Dar es Salaam yesterday.

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THE desire to raise 139bn/- through Treasury Bills auction was not met with the trading session closing up undersubscribed after attracting bids worth 120.07bn/- largely due to tight liquidity in the market.

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TANZANIA Distilleries Limited (TDL) over the weekend added a new brand to its Dodoma Wine Range – Dodoma Rose Wine. The wine which is made from locally produced grapes will be available nationwide.

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THE Tanzania-Zambia Railway Authority (TAZARA) has landed another big deal to transport 18 million litres (18,000 metric tonnes) of petroleum products to the Democratic Republic of Congo (DRC) in the next one year.

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MOSHI Municipal Council will start using EFD receipts to all the people and institutions that will be offering different services to the council so as to boost revenue collection and reduce reliance of funds from the central government.

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AN Oman Air plane with 158 passengers and six crew members on board from Muscat, suffered a tyre burst during landing at Julius Nyerere International Airport in Dar es Salaam on Saturday.

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STANBIC Bank Tanzania has handed over a 50m/- project to Magomeni Primary School in Mtwara Region, being part of the firm’s efforts towards educational development in the country.

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AIRTEL and Vocational Education and Training Authority (VETA) launched their Vsomo vocational training programme in Mbeya Region over the weekend as the programme continues to attract many youth.

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STARWOOD Hotels & Resorts Worldwide, Inc. have announced it will introduce its Four Points by Sheraton brand in Tanzania with the signing of Four Points By Sheraton Arusha and Four Points by Sheraton Dar es Salaam.

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IN a move aimed to attract more investors, the government will maintain conducive environment for investment to facilitate the implementation of its agenda of industrial transformation.

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ACCESSBANK Tanzania has introduced to the market a new savings account specifically tailored for Village Savings and Loan Associations (VSLAs) or most commonly known as informal savings groups.

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DAR ES SALAAM Stock Exchange (DSE) local share index (TSI) has gone up by 6.21 points to close at 3,710.95 points pushed by DSE share price appreciation.

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Swissport Tanzania Plc Chief Executive Officer, Mr Gaudence Temu

Business

HORTICULTURAL, fish and meat exports are set for a massive boost after upgrading of cold storage facilities at Julius Nyerere International Airport (JNIA) in Dar es Salaam. The facilities under Swissport Tanzania were inaugurated yesterday after undergoing expansion and modification to meet demands of the export business of perishable items.

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LIQUEFIED Petroleum Gas (LPG) producers and distributers across Africa are scheduled to meet Dar es Salaam for a three-day summit to discuss barriers to growth and distribution of LPG in the continent.

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KCB Bank Tanzania launched a Biashara Club to provide Small and Medium Sized Enterprise (SMEs) with banking and enterprise development services.

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ZANTEL is this year planning to invest around 15million US dollars to improve significantly the quality of Voice and Data services for its customers.

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BARCLAYS Bank Tanzania through its foreign exchange trading platform dubbed BARX Africa has launched a three-month campaign to offer its customers a value pack of foreign exchange services.

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DAR ES SALAAM Stock Exchange (DSE) share price rallied by 100 per cent to 1,000/- each yesterday immediately after self listing as was predicted. This was double the price offered during the initial public offer.

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