Top Story
The property investment company, Real Estates Investment Zambia (REIZ) has announced the resignation of one of their directors, Dr. Elizabeth Nkumbula, from the board, according to a statement issued by the company: Read more on Financial Insight
Domestic Business and Finance
The Republic President Edgar Lungu has assured that national that government is determined to ensuring that mining continues to thrive in the country despite the current copper production levels not being favorable. Read more: Zambian Business Times
African Union Commissioner for Trade Albert Mudenda Muchanga says free trade across Africa’s borders will begin by June 2020. Read more: Lusaka Times
The heavy reliance on domestic financing of the fiscal deficit is likely to continue exerting an upward pressure on interest rates, thereby constraining credit to the private sector and ultimate growth, Bank of Zambia says. Read more: Zambia Daily Mail
The marketing of Zambia’s Eurobonds to the international market will boost investor confidence, Zambia Institute for Policy Analysis and Research (ZIPAR) says. Read more: Zambia Daily Mail
Minister of Energy Matthew Nkhuwa says the current power deficit in the country stands at 700 Mega Watts (MW) and has cautioned that government may not afford to import the electricity shortfall. Read more: Diggers
International Business and Finance
South Africa’s economic growth is unlikely to reach the treasury’s target of 1.5% in 2019 because conditions have changed and the country is facing increasing headwinds, Finance Minister Tito Mboweni said on Friday. Read more: Africa News
JPMorgan tells worried clients rising yields can help stocks. Read more: Bloomberg
The hotly-anticipated stock market listing of WeWork’s parent company could be delayed until at least October, according to reports. We Company’s planned flotation has been dogged by worries that investors are going cold on the office sharing firm, once valued at $47 billion. Read more: BBC News
Oil prices pulled back 1.5% during Asian trading hours today as investors remained wary and continued to watch for fallout from the weekend’s devastating attack on Saudi Arabia’s crude production. Read more: CNN
China’s economic slowdown keeps getting worse. That could give the country incentive to repair its trading relationship with the United States and take more steps to stimulate its economy. The country released data Monday that showed industrial production — an important indicator for China’s economy — increased by just 4.4% in August compared to a year earlier. Read more: CNN
While markets still see the U.S. central bank lowering its benchmark overnight lending rate by a quarter point at this week’s Federal Open Market Committee meeting, the case for another interest rate cut seemingly has gotten weaker. Read more: CNBC
A panel of international air-safety regulators is finishing a report, which is expected to criticize the initial U.S. approval process for Boeing Co’s 737 MAX jets. Read more: New York Times
Capital Markets Report
In 1 trade recorded yesterday, 31 shares were transacted, yielding a market turnover of K973. Trading activity was recorded in Airtel. The LuSE All Share Index (LASI) maintained its previous close of 4,406.72 points as there were no price movements. The market remained on a capitalization of K57,147,093,499 including Shoprite Holdings and K22,907,887,519.84 excluding Shoprite Holdings. Read more
The equities market posted a stronger performance in week 2 of September compared to the opening. The bond market marginally weakened in comparison. Despite edging up, Financial analytics Zambia indicates that the distribution of equities and bonds in week two in terms of turnover was 93% to 7%. Read more
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