Story of the Day:
The dominance of the corporate bond market is being weakened by the force of government bonds and tightened liquidity. Investors are seeking out higher-yielding assets. However, the equities market also showed a rebound as securities trading surged. Read more
Local Business and Finance
The Zambia Revenue Authority (ZRA) says it will implement the Value Added Tax with renewed initiatives based on smart technologies. Read more: ZNBC
The Energy Regulation Board (ERB) has selected Energy Markets and Regulatory Consultants from the United Kingdom to undertake the Cost of Service Study. This exercise is being done with support from the African Development Bank. Read more: ZNBC
Zambia should consider marketing its water transport to Chinese enterprises who are interested in investing in the industry, a senior government official said on Wednesday. Nickson Chilangwa, Minister for Luapula Province, said the provincial administration is considering marketing the water bodies in the province, especially to the Chinese enterprises. Read more: China.org
A new project which is aimed to improve Small Scale Entrepreneurs (SMEs) activities in South Africa, Zambia and Tanzania has been launched. The project will focus on identifying major challenges facing SMEs, providing training and enabling them access the markets in the SADC member states. Read more: IPP Media
International Business and Finance
Africa’s largest pan African Financial institution Standard Bank just bagged 19 awards across 10 of its operational subsidiaries. Standard bank was recognized for innovation, best debt and equity house, investment banking, mortgage provider and foreign exchange trading. Read more: The Business Telegraph
The International Monetary Fund has warned that risks to global financial stability remain high. In its latest economic assessments, the IMF says lower interest rates are encouraging financial risk-taking. Read more: BBC News
State-owned enterprise, South African Airways (SAA) has indicated that it is opened to foreign investment with the Ethiopian Airlines Group indicating interest in acquiring a stake in the struggling carrier. Read more: Ventures Africa
Netflix Inc added more-than-expected paid subscribers in the third quarter, boosted by the launch of new seasons of “Stranger Things” and “13 Reasons Why”, sending its shares up 5% in trading after the bell. Read more: Reuters
The central bank is buying short-term Treasury debt, but officials say the purchases are nothing like the bond-buying stimulus unleashed by the central bank between 2008 and 2014 to support the economy. Read more: Wall Street Journal
Richard Branson’s space tourism venture is closer to listing its shares publicly than some may expect and, once it begins flying regularly, the billionaire founder told CNBC, Virgin Galactic will look to expand its business around the world. While the company has said it plans to list in the fourth quarter of this year, Branson hinted on Wednesday that it may be in the early part of the quarter. Read more: CNBC
Capital Markets Report
In 4 trades recorded yesterday, 4,400 shares were transacted, resulting in a market turnover of K5,962. Trading activity was also recorded in Copperbely Energy Corporation and Standard Chartered Bank Limited. The LuSE All Share Index (LASI) maintained its previous close of 4,365.93 points as there were no price movement. The market remained on a capitalization of K56,977,423,685 including Shoprite Holdings and K22,738,217,705 excluding Shoprite Holdings.
Chart of the Day: