Domestic
Zambia has started to look for a new investor in Vedanta-controlled Konkola Copper Mines (KCM), President Edgar Lungu said on Monday, in a move likely to stoke international miners’ concerns about rising government intervention in the sector. Read more: Reuters
According to Finance Minister Margaret Mwanakatwe, the new Sales Tax would enable Government collect enough resources to better its provision of public services and promote local revenue collection to support sustainable economic development. Read more: Lusaka Times
The Zambia Chamber of Commerce and Industry (ZACCI) has called on government to be consistent in the implementation of policies in order to ensure a predictable business environment as well as to allow for better planning. Read more: Lusaka Times
International
Ethiopia has become the latest African nation to ration electricity for domestic and industrial customers after a drop in water levels in hydroelectric dams led to a production deficit. Read more: Africa News
Microsoft has announced that it plans to collaborate with universities and colleges in order to encourage and teach the use of technology. This move from Microsoft will strengthen its presence in Kenya, and prepare younger generations for the next wave of technological advancements. Read more: Business Chief
Google has barred the world’s second biggest smartphone maker, Huawei, from some updates to the Android operating system, dealing a blow to the Chinese company. Read more: BBC News
Japan’s economy unexpectedly grew in the three months to March, shrugging off forecasts for a contraction in the world’s third largest economy. Read more: BBC News
British finance minister Philip Hammond will on Tuesday warn that those pushing for Britain to leave the European Union without a deal would be doing deliberate damage to the British economy. Read more: Reuters
US carmaker Ford announced plans to cut 7,000 jobs worldwide, shedding about 10 per cent of its salaried workforce and inflicting deep cuts in its home market as part of an $11 billion overhaul. Read more: Financial Times
Tesla’s stock and bonds tumbled on Monday as investors worried about the automaker’s cash burn and problems with an Autopilot system that CEO Elon Musk has held out as key to the electric car maker’s future. Read more: Reuters