Story of the Day:
The COVID-19 pandemic has not spared British American tobacco Zambia (BATZ) as it put to test the Company’s agility and its capacity to react, adapt and administer crisis management mechanisms to ensure sustainability in a volatile business environment. Read more
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Malawi High Commissioner to Zambia Warren Gunda says the newly-constructed one-stop border-post at Mchinji/Mwami border will boost trade between the two countries. The diplomat made the remarks on Monday during an inspection tour of the new facility in Mchinji. Read more: Trade Mark
UBA Zambia has appointed former Deputy Governor Administration Dr. Tukiya Kankasa Mabula to head its board defying the gender odds making her the first female chairperson of the banks board. Read more: The Business Telegraph
An Egyptian firm, Gaber Group Mining Services Limited has signed an agreement with Federation of Small-Scale Mining Associations of Zambia to facilitate the acquisition of mining equipment at a lower cost. Read more: ZNBC
Ministry of Agriculture Permanent Secretary Sangowayo Zyambo has said, Government is undertaking policy reforms targeted at unlocking growth for specific commodities. Mr. Zyambo urged people living in the diaspora to invest in the production of wheat, saying that the commodity was of strategic importance, thereby providing key input in the production of bread and other confectionaries. Read more: Lusaka Times
International Business and Finance
The US has warned it could put tariffs of up to 25% on a host of UK exports in retaliation for a UK tax on tech firms. The duties are designed to raise $325m, the amount the US believes the UK will raise from US tech firms. Read more: BBC News
Index provider FTSE Russell gave final approval on Monday for inclusion of Chinese sovereign bonds in its flagship bond index, starting later this year, setting the stage for billions of dollars of inflows into the world’s second-largest economy. The index provider also said India and Saudi Arabia were being considered for potential inclusion. Read more: CNBC
U.S. Supreme Court justices on Monday struggled in a case involving Goldman Sachs Group Inc over how judges should determine when shareholders can collectively sue publicly traded companies for fraudulent statements that keep their stock prices artificially high. Read more: Reuters
European stocks edged higher in a choppy session on Monday, weighed down by Credit Suisse shares, which slumped following a warning of “significant” losses from exiting positions after U.S.-based hedge fund Archegos defaulted on margin calls. Read more: Reuters
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There were no trades recorded yesterday. The LuSE All Share Index (LASI) maintained its close at 4,021.07 points, as there were no share price movements. The market closed on a capitalization of K57,838,837,980 including Shoprite Holdings and K23,594,197,206 excluding Shoprite Holdings.
Chart of the Day: