Story of the Day:
The dominance of the corporate bond market continues to prevail in the second week of trading on the LuSE in the first month of 2020. Read more
Local Business and Finance
Zambia is already restructuring, renegotiating or refinancing its extensive Chinese project finance debt, and Chinese companies are playing hardball, according to new research. Read more: CNBC
Economist Chibamba Kanyama says the ongoing tension between the United States and Iran may have a negative impact on Zambia’s economy as the country’s level of investment in foreign countries could be affected. Read more: News Diggers
The Kariba Dam, one of Zimbabwe’s main sources of hydropower, has seen an increase in water level, the reports confirmed on Monday. Read more: Zambian Observer
Labour Minister Joyce Simukoko has appealed to the Japanese government to partner with Zambia by sharing best practices on how it addresses post retirement pension schemes. Read more: ZNBC
Southern Province Minister Edify Hamukale says there is urgent need for Zambia to invest in the development of computer software and research that will promote smart agriculture in the wake of climate change. Read more: ZNBC
International Business and Finance
Growth in Sub-Saharan Africa is expected to rise to 2.9 percent in 2020, the World Bank said Tuesday in its January 2020 Global Economic Prospect report. Read more: Africa News
Wells Fargo’s fourth-quarter results missed analyst expectations. Although the bank wants to improve its financial results, its priority is getting out from under the thumb of regulators. Read more: CNN
Boeing reported final order numbers and deliveries for 2019 Tuesday and they were as bad expected. Read more: CNN
Concerns about climate change will drive a “fundamental reshaping of finance”, one of the world’s biggest money managers has said. Read more: BBC News
Investment in the U.K.’s technology sector grew at a faster pace than in the U.S. and China last year, according to new research released Wednesday. Read more: CNBC
Capital Markets Report
In 23 trades recorded yesterday, 13,866 shares were transacted, yielding a market turnover of K8,883. Trading was recorded in FQM Zambia, Copperbelt Energy Corporation, Standard Chartered Bank Limited, Zambia Consolidated Copper Mines, ZAMEFA and Zanaco. The LuSE All Share Index (LASI) maintained its close of 4,252.42 points. The market closed on a capitalization of K56,505,322,077 including Shoprite Holdings and K22,266,116,097 excluding Shoprite Holdings.
Chart of the Day: