Story of the Day:
When will the vaccine be in Zambia? This year has become synonymous with the pandemic and with Pfizer’s reported breakthrough we began to see the end of the tunnel, the potential return back to life before the virus. However, a study into the history of mass vaccinations indicates people in developing countries may have to wait longer to access the vaccine. Read more
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The Energy Regulation Board (ERB) says some oil marketing companies have been holding on to fuel to create an artificial shortage. Read more: ZNBC
The Zambeef Group posted a loss of K102 million during the financial year ended 30th September 2020 against a profit of K18.5 million in the previous period. It said the year 2020 was characterised by a difficult operating and economic environment due to adverse macro-economic fundamentals and the Covid-19 pandemic. Read more: Lusaka Times
The Centre for Trade Policy and Development (CTPD) says it will be extremely challenging to implement Zambia’s 2021 national budget as the country will find it almost impossible to borrow funds to finance 43% of the budget following the debt default. Read more: News Diggers
National Technology Business Centre (NTBC) Director Chitundu Kasase has urged women and youths to participate in the National innovational fair. The fair is aimed at identifying the innovations that will promote technologies transfer and bring technology seekers and users together to improve quality production of goods and services. Read more: Lusaka Times
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Saudi Arabia, Russia and other oil producing countries have agreed to start tentatively increasing output next month even as the coronavirus pandemic continues to cloud the outlook for demand. The Organization of Petroleum Exporting Countries said on Thursday that existing production curbs would be relaxed slightly from January 1 by members of the OPEC+ alliance. Read more: CNN
China’s largest chipmaker and national offshore oil and gas producer were added Thursday to a blacklist of alleged Chinese military companies, the Pentagon said in an evening statement. The Department of Defense designated a total of four companies as being either owned or controlled by the People’s Liberation Army. Read more: CNBC
Increasing hopes that an eleventh-hour trade deal will be agreed between the UK and the EU has sent the pound to its highest level against the dollar in almost a year. With an agreement between London and Brussels thought to be close, sterling rose to $1.35 against a generally weak US currency for the first time since 13 December 2019. Read more: The Guardian
The US Department of Justice has accused Facebook of discriminating against American workers by giving hiring preferences to immigrants. A lawsuit alleges the social media firm refused to recruit, consider or hire qualified and available Americans for more than 2,600 positions. Read more: BBC News
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There were no trades recorded yesterday. The LuSE All Share Index (LASI) maintained its close at 3,777.65 points, as there were no share price movements. The market closed on a capitalization of K56,920,386,821 including Shoprite Holdings and K22,681,180,841 excluding Shoprite Holdings.
Chart of the Day: