Daily FiZ – Wednesday 11/19
Economy

Story of the Day:

Investrust Bank has recorded a loss after tax of K39.74 million for the financial half-year ended 30 June 2019, according to a statement from the bank. Read more

Domestic Business and Finance
MTN Group announced that MTN Zambia CEO Philip van Dalsen will be leaving MTN at the end of September. Read more: Reuters

Zura Southern Africa, an American company, is set to establish a US$160 million multi-model international trade hub for Zimbabwe, Mozambique and Zambia. The trade hub, which will be the first of its kind, is set to be constructed in Kanyemba, Zimbabwe, and is expected to boost business and trading relations amongst the three countries. Read more: Southern Times Africa

Fitch Solutions Group Ltd, a UK affiliate of Fitch Ratings has projected that the Bank of Zambia (BoZ) will implement further monetary tightening over the coming quarters in an effort to contain inflationary and exchange rate pressures. Read more: Lusaka Times

Finance Minister Dr Bwalya Ng’andu has appointed a new board of the Financial Intelligence Centre, replacing the one led by Mr John Kasanga. Read more: Zambian Observer

The Business Confidence Index – BCI for the second quarter (Q2) of 2019 has shown a further decline from the first quarter (Q1) of 2019 mainly due to the depreciation of the local unit, the Kwacha, leading to negative sentiment among the business community. Read more: Zambian Business Times

Konkola Copper Mine (KCM) Chief Executive Officer Christopher Sheppard says the mine is making strides to build capacity for Small and Medium Enterprises in areas of operation. Read more: The Independent Observer

International Business and Finance
The European Union is bracing for a review of its strict fiscal rules as the bloc’s economy slows, while monetary stimulus is seen as being close to its limits, according to an EU document and officials. Read more: CNBC

Boeing Co handed over around a quarter as many planes in August as it did a year ago, pushing total deliveries so far this year down more than 40%, as the worldwide grounding of its best-selling 737 MAX jet enters its seventh month. Read more: Reuters

British wages have continued to grow at a strong pace and employment remains at record highs, official figures show. Read more: BBC News

Chart of the Day:

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For any feedback on the storiies captured on the Daily FiZ, email Natasha on dailyfiz@fizambia.com

 

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