Story of the Day:
The Lusaka Securities and Exchange Business Development Manager, Phil Daka has left the bourse after over five years of service. Read more
Local Business and Finance
The 300MW coal-fired power plant of Maamba Collieries Limited has resumed full capacity operations and is supplying the full contracted power to ZESCO. Read more: Zambia Reports
Government has sent a team of experts to examine the liquid substance coming from a mountain in Chisanga area in Gwembe district of southern province which is suspect to be crude oil. Read more: ZNBC
Zambia will benefit from the International Fund for Agricultural Development (IFAD) US$12 million aimed at helping rural farmers adapt to the changing climate and reduce greenhouse gas emissions. Read more: Zambia Daily Mail
Easing of energy bottlenecks could help in improving growth prospects in the region, which were subdued last year, the World Bank says. Read more: Zambia Daily Mail
International Business and Finance
After failing to halt rolling electricity blackouts that have added to the country’s economic woes, Eskom suffered another blow on Friday, 10 January 2020 as the state-owned enterprise lost its chairman of the past two years. Read more: News Diggers
US regulators are seeking to fine Boeing $5.4million for “knowingly” installing faulty parts on 737 Max planes. Read more: BBC News
Another Bank of England policy-maker has floated the idea of cutting the central bank’s main interest rate. Read more: BBC News
The world’s biggest initial public offering got even bigger on Sunday, as Saudi Aramco sold an additional 450 million shares to increase the proceeds from its recent stock market debut to $29.4 billion. Read more: Financial Times
Eased trade tensions between the United States and China and signs of a strengthening global economy could be good news for international equities and European stocks in particular, according to market strategists. Read more: CNBC
South Africa’s Reserve Bank will keep interest rates unchanged on Thursday as it awaits a February budget and a ratings review by Moody’s due in the next few months, but will cut by 25 basis points in May, a Reuters poll found on Friday. Read more: Reuters
In 2018, the largest US banks made more than $120 billion, an all-time high. Last year may have been even better. This week, the top six US banks; JPMorgan Chase, Wells Fargo, Bank of America. Citigroup, Morgan Stanley and Goldman Sachs are scheduled to report earnings for the final three months of 2019. Read more: CNN
Capital Markets Report
There were no trades on Friday. The LuSE All Share Index (LASI) closed at 4,256.69 points. The market closed on a capitalization of K56,523,055,412 including Shoprite Holdings and K22,283,849,432 excluding Shoprite Holdings.
Chart of the Day: