Story of the Day:
Enygma Ventures has opened up applications for investment in its final call of the year. Female entrepreneurs and innovators who are problem solvers with existing businesses or new business ideas in SADC are encouraged to make an application for funding to fuel growth. Read more
Local Business and Finance Sponsored By Liquid Telecom
The Ministry of Tourism and Arts of Zambia (MoTA) is gearing up for the implementation strategy of the Zambia Tourism Master Plan. Read more: ETurbo News
Government has secured 500 Million Kwacha to help clear outstanding debts for civil servants through swapping of what government owes workers such as leave benefits and settling allowances among others, Public Service Management Division,(PSMD) Permanent Secretary, Boniface Chimbwali has announced. Read more: Lusaka Times
Scores of former Konkola Copper Mines (KCM) workers have objected the proposed date of arbitration proceedings between ZCCM -IH and Vedanta Resources. The miners who stormed offices for Nchanga Member of Parliament Chali Chilombo say there is need to hold the proceedings before November 2021. Read more: ZNBC
United Bank for Africa (UBA) Zambia Limited has been named bank of the year 2020 for its investment in digital technology, adherence to world-class customer services offering and positive community-based interventions. Read more: Zambia Daily Mail
International Business and Finance Sponsored By Royal Zambian Airlines
Japan’s Prime Minister Yoshihide Suga has announced a fresh round of stimulus for the Japanese economy. The 73.6tr yen ($708bn) package is expected to include subsidies for green investment and spending on digitalisation. The additional spending is aimed at pulling the country out of its coronavirus-induced economic slump. Read more: BBC News
A no-deal Brexit would reduce output by an additional 2% in 2021, or some £40 billion ($53 billion), and consign more than 300,000 people to the unemployment line by the second half of next year, according to the OBR. Read more: CNN
Airbnb Inc expects to raise up to $3.09 billion in a stock market launch later this week after boosting its price range. The U.S. home rental firm plans to sell 51.6 million shares at between $56 and $60 apiece, it said in a regulatory filing on Monday. It had earlier targeted a price range of between $44 and $50 per share for 51.9 million shares. Read more: Reuters
Assessment by ratings agency, Fitch and JP Morgan Emerging Market Bond Index (EMBI) shows that sub-Saharan African countries with credit ratings of B with a stable outlook which will want to raise funds on the international market in 2021 will face some challenges. Read more: Business Insider
Capital Markets Report Sponsored By ZCCM-IH
In 21 trades recorded yesterday, 652,619 shares were transacted yielding a market turnover of K1,265,493. A share price loss of K0.01 was recorded in Zanaco. Trading activity was also recorded in CCHZ, PUMA, Real Estate Investments Zambia and Standard Chartered Zambia. The LuSE All Share Index (LASI) closed at 3,844.68 points, 0.09% down from its previous close of 3,847.99 points. The market closed on a capitalization of K57,212,886,928 including Shoprite Holdings and K22,973,680,948 excluding Shoprite Holdings.
Chart of the Day: