Daily FiZ- Thursday 25/02

Story of the Day:

Honouring its commitment to the health and safety of its employees and customers, Emirates today has become among the first airlines in the world to operate a flight with fully vaccinated frontline teams servicing customers at every touchpoint of the travel journey. Read more 

Local Business and Finance Sponsored By Liquid Telecom

The Association of Mine Suppliers and Contractors President Augustine Mubanga has called on government to issue a one-month ultimatum to the Eurasia Resources Group – ERG to re-open Chambishi Metals or declare them as a hostile investor who just wants to ruin the asset. Read more: Zambian Business Times 

The Copperbelt Energy Corporation – CEC woes have deepened following the exit of Glencore and the 100% acquisition of Mopani Copper Mines – MCM by state owned investment company – ZCCM IH. Mopani happens to be one of the top customers of CEC. Read more: Zambian Business Times 

Government says the Africa Continental Free Trade Area (AfCFTA) provides opportunities capable of changing Zambia’s economic profile. Commerce, Trade and Industry Minister Christopher Yaluma says AfCFTA will enable Zambia generate numerous jobs and sufficient wealth to propel the economy to greater heights. Read more: ZNBC 

First Quantum Minerals (FQM) Limited has posted an increased gross profit of over US $1.1 billion during its 2020 financial year ending December 31, mainly boosted by higher sales volumes of copper and gold. Read more: News Diggers 

International Business and Finance

Central banks from China, Thailand, United Arab Emirates and Hong Kong are exploring a digital currency cross-border payment project together. Read more: CNBC

Standard Chartered PLC on Thursday restored its dividend and reaffirmed its long-term profit goals, in a show of confidence about its ability to recover from the impact of the COVID-19 pandemic even as its annual profit more than halved. Read more: Reuters

Two of Britain’s biggest banks have announcedplans to dump expensive office space, a bet that remote work is here to stay even after the pandemic ends. Read more: CNN

Central Bank of Nigeria Governor Mr. Godwin Emefiele believes bitcoin should remain banned. “Cryptocurrency has no place in our monetary system at this time, and cryptocurrency transactions should not be carried out through the Nigerian banking system,” he said. He also said cryptocurrency was being used as a channel for funding violence and terrorism in Nigeria. Read more: Business Insider

Capital Markets Report Sponsored By ZCCM-IH

In 8 trades recorded yesterday, 5,527 shares were transacted yielding a market turnover of K5,598. Trading activity was recorded in Copperbelt Energy Corporation and Zanaco. The LuSE All Share Index (LASI) maintained its close at 3,983.90 points, as there were no share price movements. The market closed on a capitalization of K57,665,804,485 including Shoprite Holdings and K23,432,033,300 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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