Story of the Day
Two weeks into the month of January 2022 trading on the Lusaka Stock Exchange and there is still no much hope for the bond market as there were no bonds traded throughout the week. The equities market recorded a 100% to 0% on the bond market. Read more
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Zambia’s Annual inflation rate for January has decreased to 15.1 percent from last month’s 16.4 percent. Zambia Statistics Agency Interim Statistician General Mulenga Musepa says the decrease means that prices of goods and services decreased by 15.1 percent between January 2022 and January 2021. Mr. MUSEPA also attributes the slowdown in annual inflation to favourable price movements in food items. Read more: ZNBC
The Zambia Bureau of Standards (ZABS) has urged companies in the public and private sector to implement the Quality Management System standard (ISO 9001). ZABS executive director Manuel Mutale said in a statement issued by ZABS communications and public relations manager Nzali Chella, that businesses should develop a continuous improvement culture to eliminate substandard products and services and enhance customer satisfaction. Read more: Times of Zambia
ZCCM Investments Holdings (ZCCM-IH) has agreed to provide a corporate guarantee to Zanaco worth US$10 million for the provision of working capital to Konkola Copper Mine (KCM) Plc. Company secretary Chabby Chabala said in a statement on Tuesday that the provision of US$10 million corporate guarantee to Zanaco Plc will be used for procurement of concentrates from Trafigura to sustain operations and is valid until December 31, 2022. Read more: Zambia Daily Mail
The Zambia Revenue Authority (ZRA) says due to Tropical Storm Ana currently being experienced in Mozambique and other parts of Southern Africa, the flow of international traffic at some borders has been affected, slowing the importation and exportation of goods on the routes. Read more: News Diggers
International Business and Finance
Apple sales soared in the key Christmas shopping season, despite constraints due to a global shortage of microchips. Sales at the iPhone giant rose 11% to a record $123.9bn (£92.6bn) in the October to December period, beating forecasts. Shares jumped more than 4% in after-hours trade, as the report suggested the firm’s pandemic boom is continuing. Read more: CNN
The US economy expanded at its fastest rate in decades last year as it roared back from pandemic lockdowns. Official figures from the Commerce Department showed the economy grew by 5.7% – its best performance since 1984. But analysts are expecting growth to slow this year, as the government scales back stimulus spending and the Federal Reserve raises interest rates. Read more: BBC News
Newzoo has released its latest report, which looks at consumer spending within the games industry in Africa for 2021. According to the report, revenue generated by the video game industry in Africa rose to $590 million as the number of gamers in the continent doubled over the last five years. The report added that Sub-Saharan Africa is the fastest-growing region globally for mobile gamers and people who pay for games. Read more: Business Insider
Stocks have slumped this year. So has bitcoin. But gold, by comparison, has had a fairly solid start to the year. The price of the yellow metal is roughly unchanged, hovering just below $1,800 an ounce. Read more: CNN
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In 153 trades recorded yesterday, 21,756 shares were transacted resulting in a turnover of K50,023. A share price loss of K1.93 was recorded in CHIL. Trading activity was also recorded in Airtel, Bata, Copperbelt Energy Corporation, CHIL, Madison Financial Services, National Breweries, PUMA, Zambeef, Zanaco, Zambia Sugar, ZAFFICO and CEC Africa on the quoted tier. The LuSE All Share Index (LASI) closed at 6,015.46 points,-1.47% down from its previous close of 6,103.94 points.The market closed on a capitalization of K66,989,879,391 including Shoprite Holdings and K32,207,193,951 excluding Shoprite Holdings.