Story of the Day:
Commercial Bank Atlas Mara Zambia has announced that it has signed a term sheet that will see the bank transition ownership structure to Equity Bank of East Africa. Read more
Local Business and Finance
Zambia Chamber of Mines president Goodwell Mateyo has projected a rise in the price of copper this year following the calming down of the trade war between the United States of America and China. Read more: News Diggers
The Zambian government is keen to see increased trade and investment ties with the United Kingdom (UK), a senior government official said on Monday. Read more: News Ghana
MTN Zambia announced on Monday, 20 January 2020, the appointment of Komba Malukutila as Chief FinTech Officer effective 1st February 2020. Read more: IT News Africa
ZImbabwe and Zambia are planning a joint industrialisation programme building on the experiences and lessons from the existing collaborative ventures. Read more: The Chronicle
Zambia Forestry and Forest Industry Corporation (ZAFFICO) 2020 debut listing on the Lusaka Securities Exchange (LuSE) may be delayed following an approval by Securities Exchange Commission to extend the share subscription window by an additional week according to sources close to the matter. Read more: The Business Telegraph
Gwembe’s Chisanga Ward Councillor, Teddy Chamoto has disclosed that there are three spots with a liquid substance in his area that could possibly be crude oil. Read more: Zambian Observer
International Business and Finance
Global economic growth for this year has been revised downwards from 3.4% to 3.3%, according to the International Monetary Fund. Read more: CNBC
Boeing is in talks with banks to secure a loan of $10 billion or more, according to people familiar with the matter, as the company faces rising costs stemming from two fatal crashes of its 737 Max planes. Read more: CNN
Facebook is to create 1,000 new jobs in London by the end of the year. The new posts will take the tech giant’s total number of UK employees to more than 4,000. Read more: BBC News
South Africa’s rand dipped early on Tuesday, as a weak economic outlook dented appetite for local assets. Read more: Nasdaq
Proposals to invest in ailing Malaysia Airlines include one from Air France-KLM which wants as much as 49% while Japan Airlines is looking at a 25% stake, sources with knowledge of the matter said. Read more: Reuters
Capital Markets Report
There were no trades yesterday. The LuSE All Share Index (LASI) maintained its close of 4,257.65 points, as there were no share price movements. The market closed on a capitalization of K56,527,056,210 including Shoprite Holdings and K22,287,850,230 excluding Shoprite Holdings.
Chart of the Day: