Daily FiZ – Tuesday 28/07
Economy

Story of the Day:

Liquid Telecom Zambia has entered into a neighborhood identification memorandum of understanding with Lusaka City Council. The project will ensure clear demarcation of the areas in Lusaka and falls under Liquid’s CSR initiatives around Health, Safety, and Education. Read more

Local Business and Finance Sponsored By Liquid Telecom 

The Policy Monitoring and Research Centre (PMRC) says the 2020 national budget performed more favourably in the first quarter of the year than expected as domestic financing, grants and revenues were above target by less than a percentage. But PMRC data shows that 73.5 per cent of government’s total expenditure in the first quarter of this year went to debt servicing and personal emoluments. Read more: News Diggers

Luapula Province Permanent Secretary Charles Mushota says government is determined to help the business community deal with Covid-19 through the COVID-19 Bond. Mr. Mushota has encouraged eligible businessmen and women in the province to subscribe and access 8 billion Kwacha COVID-19 Bond as long as they follow the stated guidelines. Read more: ZNBC

Tobacco Board of Zambia – TBZ has invested in a farmer electronic registration and monitoring system called the “Bright Leaf System” aimed at enhancing its regulatory role in the production, buying and selling of tobacco in the country. Read more: Zambian Business Times 

There is a need for Zambia to create economic partnerships and linkages with Chinese enterprises for investments in various economic sectors in Zambia that will enhance the creation of jobs for Zambians, Zambian entrepreneurs said on Sunday. Read more: News Ghana

International Business and Finance 

A pandemic-delayed African free trade deal, if fully implemented, could boost incomes across the continent, pull millions out of poverty and cushion against the negative fallout from COVID-19, the World Bank wrote in a report on Monday. Read more: Reuters

Gold soared over 2% to its highest ever on Monday as heightened U.S.-China tensions hammered the dollar and sped up a flight to safety among investors concerned that the spat could amplify the economic hit from the coronavirus pandemic. Read more: Reuters

Republicans have proposed spending an additional $1 trillion to address the economic damage caused by the coronavirus pandemic. The plan includes $100bn for schools and issuing stimulus payments of up to $1,200 to most Americans. Under the plan, the payment would replace a $600 boost to unemployment benefits during the pandemic. Read more: BBC News

The UK economy could take until 2024 to return to the size it was before the coronavirus lockdown, according to analysis from the EY Item Club. The forecasters, who use a similar economic model to the Treasury, suggest unemployment will rise to 9% from 3.9%. Read more: BBC News

Google will let employees work from home until at least July 2021, a company spokesperson said on Monday. The decision to extend the remote work policy well into next year indicates that one of the world’s largest tech companies is bracing for a long pandemic — and could prompt other businesses to follow suit. Read more: CNN

European equities could jump 10% on the back of a historic agreement over fiscal stimulus in the European Union, Morgan Stanley said in a note Tuesday. Read more: CNBC

Capital Markets Report Sponsored By ZCCM-IH

In 1 trade recorded yesterday, 600 shares were transacted yielding a market turnover of K462. A share price gain of K0.06 was recorded in Copperbelt Energy Corporation. The LuSE All Share Index (LASI) closed at 3,859.94 points, 0.58% up from its previous close of 3,837.54 points. The market closed on a capitalization of K55,621,451,258 including Shoprite Holdings and K21,382,245,278 excluding Shoprite Holdings.

Chart of the Day:

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For any feedback on the stories captured on the Daily FiZ, email Natasha on dailyfiz@fizambia.com

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