Daily FiZ – Wednesday 06/01
Economy

Story of the Day:

Emirates is taking its signature A380 experience to the next level with the unveil of a brand new Premium Economy cabin product, together with enhancements and a refreshed look across all cabins onboard its newest A380 aircraft. Read more

Local Business and Finance Sponsored By Liquid Telecom

Lawrence Sikutwa & Associates Limited and ZFI Holdings Limited, the two largest shareholders in Madison Financial Services, have separately executed Share Purchase Agreements with XYLEM Trading Limited, relinquishing their combined 72.05 per cent shareholding in the insurance giant. Read more: News Diggers 

Airtel Networks Zambia Limited has been awarded 20 MHz of radio spectrum by the Zambia Information and Communications Technology Authority (ZICTA) in the 800MHz frequency band. The cost of the spectrum, according to independent news website Zambia Reports, is said to be $12.5 million. The move is expected to boost the telecommunications company’s 5G service rollout. Read more: Developing Telecoms

The Bank of Zambia (BoZ) has commenced the accumulation of gold as part of its reserves assets. BoZ disclosed that this was after the purchase of 47 kilogrammes of Dore Gold from the Zambia Gold Company Limited operating under ZCCM-IH. The bank is also expecting supply of gold bullion within the first quarter of 2021 from Kansanshi Mines. Read more: Lusaka Times

ZESCO limited says load-shedding is slowly coming to an end. ZESCO Corporate Affairs Manager John Kunda says the country has migrated from level 4 of load-shedding which was lasting 12 hours in a day, to level one which is between Zero to 4 hours. Read more: ZNBC

International Business and Finance Sponsored By Royal Zambian Airlines

US President Donald Trump has signed an executive order banning transactions with eight Chinese apps. The apps include popular payments platform Alipay, as well as QQ Wallet and WeChat Pay. The order, which takes effect in 45 days, says that the apps are being banned because they are a threat to US national security. Read more: BBC News 

Oil prices climbed nearly five percent on Tuesday after news that Saudi Arabia will make voluntary cuts to its oil output. Global benchmark Brent crude futures rose $2.51, or 4.9 percent, to settle at $53.60 a barrel. United States benchmark West Texas Intermediate crude rose $2.31, or 4.9 percent, to settle at $49.93 a barrel. Read more: Al Jazeera 

Bitcoin’s remarkable ascent past $30,000 has stunned Wall Street — and one of the biggest U.S. investment banks thinks the digital currency could have much further to run. In a note published Monday, JPMorgan made a bold long-term price target for bitcoin, claiming the red-hot cryptocurrency could rally as high as $146,000 as it competes with gold as an “alternative” currency. Read more: CNBC

British government announced around $6 billion in stimulus to help businesses weather the new lockdown aimed at curbing the spread of the variant strain of COVID-19. Read more: Business Insider 

Capital Markets Report Sponsored By ZCCM-IH

In 15 trades recorded yesterday, 29,338 shares were transacted yielding a market turnover of K15,591. A share price gain of K0.01 was recorded in Cavmont Capital Holdings Zambia on the quoted tier. Trading activity was also recorded in AEL Zambia, Copperbelt Energy Corporation and PUMA. The LuSE All Share Index (LASI) closed at 3,912.33 points. The market closed on a capitalization of K57,508,103,642 including Shoprite Holdings and K23,268,897,662 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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