Daily FiZ- Friday 20/11
Economy

Story of the Day:

Every functioning economic entity uses debt-financing for a variety of reasons. For a corporation, debt-financing may be used to facilitate growth and expansion or to invest in research and development which in the long-run improves the corporation’s competitiveness in the market. Read more 

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Local Business and Finance Sponsored By Liquid Telecom

Zambia is seeking a compromise solution with bondholders and does not expect them to seize its mining assets even though it defaulted on part of its debt last week, Mines Minister Richard Musukwa said on Thursday. Read more: Reuters

Zambia produced 646,111 tonnes of copper between January and September 2020, up from 590,321 tonnes in the same period last year, Mines Minister Richard Musukwa said on Thursday, attributing the 9.45% rise to increased mine output. Read more: Reuters

Though a relatively new concept in Zambia, weekend markets are gaining polarity among small-scale businesses that see them as launch pads for growth. For many small businesses looking to expand, weekend markets are providing a platform for traders to showcase their products as well as connecting them to bigger business opportunities. Read more: Xinhua

The First National Bank (FNB) has been named the SME Bank of the Year at the Global SME Finance Forum Virtual awards ceremony held on 27 October this year. Read more: Zambian Business Times

Economics Association of Zambia (EAZ) President Lubinda Haabazoka has called on stakeholders to come up with strategies and solutions for a way forward for the country’s economy. Dr. Haabazoka says laying a foundation for recovery is important for the country. He says now is the time for tangible solutions to be formulated. Read more: ZNBC

 

International Business and Finance Sponsored By Royal Zambian Airline

The global economic recovery may be losing momentum as coronavirus infections surge again, the International Monetary Fund has warned. Fund chief Kristalina Georgieva said more economic help is needed, and warned countries against withdrawing aid too soon. Read more: BBC News 

Carmaker Daimler plans to double sales of its luxury Maybach vehicles, buoyed by strong demand in China. Daimler, which also owns Mercedes-Benz, sold a record 12,000 luxury Maybachs last year. Read more: BBC News 

Apple has agreed to pay $113 million to 34 states over its controversial previous practice of deliberately slowing down older iPhones to extend their battery life. Read more: CNN

US Treasury Secretary Steve Mnuchin’s decision to allow several of the Fed’s emergency lending programs to expire on Dec. 31 will dramatically reduce the central bank’s ability to backstop the financial system. But people familiar with the situation say the Fed will still have considerable lending power in the event of a shock to the system. Read more: CNBC

Nissan Motor Co. is expected to soon begin assembling cars in Ghana. This is in response to new legislation that seeks to make Ghana an automotive hub in the West African sub-region. Read more: Business Insider  

Capital Markets Report Sponsored By ZCCM-IH

In 11 trades recorded yesterday, 1,526,830 shares were transacted yielding a market turnover of K1,093,413. A share price gain of K0.09 was recorded in Zanaco. Trading activity was also recorded in Copperbelt Energy Corporation, PUMA and CEC Africa on the quoted tier. The LuSE All Share Index (LASI) closed at 3,898.56 points, 0.76% up from its previous close of 3,868.78 points. The market closed on a capitalization of K57,447,993,287 including Shoprite Holdings and K23,208,787,307 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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