Story of the Day:
At the epilogue of 2019, ZCCM IH and Karma Mining Services & Rural Development Company signed a Joint Venture that will see the investment group further cement its case as an investor in mining services, according to a statement from the group. Read more
Local Business and Finance
Zambia has embarked on an aggressive campaign to market its tourism potential in Brazil, a government official said on Monday. Read more: CGTN Africa
Ministry of Mines and Mineral Development Permanent Secretary Barnaby Mulenga is upbeat Zambia will bounce back as Africa’s top copper producer as the country continues to undertake various exploration projects. Read more: Zambia Daily Mail
Eastern Province will hold a two-day mini investment expo ahead of next month’s Nc’wala ceremony in an effort to attract local and foreign investors. Read more: Zambia Daily Mail
The Zambia Association of Manufacturers (ZAM) says the Zambia Revenue Authority’s decision to start implementing the Digital Tax Stamp (DTS) to enhance tax compliance on all excisable products has the potential to increase the cost of doing business. Read more: News Diggers
Auditor General, Dick Sichembe says the audits carried out this year will reflect the aspirations of Government as Outlined in the Seventh National Development Plan. Read more: ZNBC
International Business and Finance
The stock market value of Google parent Alphabet is on the brink of hitting $1 trillion for the first time, making it the fourth of the big tech groups to reach the milestone. Read more: Financial Times
The UK’s economy grew by just 0.1% in the three months to November, according to the Office for National Statistics. Read more: BBC News
Amazon will ask a federal court to temporarily block Microsoft from working on a $10 billion cloud computing contract for the military, according to a court filing Monday. Read more: CNN
China’s car sales are stuck in a major slump that shows little sign of ending as the country’s massive economy slows. Read more: CNN
The Trump administration formally removed China’s designation as a currency manipulator on Monday, offering a major concession to the Chinese government as senior officials arrived in Washington to sign a trade agreement with President Trump. Read more: The New York Times
Swiss wealth giant UBS has predicted that the U.S. Federal Reserve could lower interest rates three times in 2020 — a forecast that differs widely from many other projections calling for no change or just one rate cut this year. Read more: CNBC
Capital Markets Report
In 11 trades recorded yesterday, 3,342 shares were transacted, yielding a market turnover of K26,021. There was a share price loss of K0.87 and trading activity in AELZ. Trading activity was also recorded in ZSUG. The LuSE All Share Index (LASI) closed at 4,252.42 points, 0.10% down from its previous close of 4,256.69 points. The market closed on a capitalization of K56,505,322,076 including Shoprite Holdings and K22,266,116,096 excluding Shoprite Holdings.
Chart of the Day: