Story of the Day
Property group Real Estate Investments Zambia Plc anticipates to report weaker earnings at half-year 2019 following unrealized exchange losses among other reasons, according to a statement from the company. Read more
Domestic Business and Finance
Kafubu Water and Sewerage Company will in a few months time start generating electricity using sewer waste to treat its water. Read more: ZNBC
Government and KfW Development Bank of Germany have signed a 41.5 million Euro grant for the rehabilitation and extension of Chishimba Falls Hydro power plant in the Northern Province. Read more: ZNBC
The construction of the 449 million U.S. dollars Kafulafuta Water Supply System Project by China National Complete Engineering Corporation is 55 percent complete, an official with Zambia’s Ministry of Water and Sanitation Development said Wednesday. Read more: ECNS
The Zambia Chamber of Mines says it hopes that the forthcoming 2020 national budget will help restore the mining sector’s productivity and return Zambia to its previous position as one of the world’s leading copper producers. Read more: Diggers
International Business and Finance
The World Bank has backed Somalia’s economy to grow above expectations for the next three-to-five years, if the country can sustain its current economic reform momentum. Read more: Africa News
The company that owns Hong Kong’s main stock exchange has made a £32 billion bid to buy its rival in London. Shares in the London Stock Exchange Group jumped by more than 15% on news of the offer, but fell back later. Read more: BBC News
US President Donald Trump will delay a planned tariff hike on $250 billion of Chinese goods as a “gesture of good will”. Read more: Bloomberg
Apple Inc. reclaimed its status as a trillion-dollar company Wednesday, hitting that level for the first time since last November on the day after it showed off its next iPhones. Read more: Market Watch
India’s markets could “easily” see a 10% return in the next six months, and that’s a buying opportunity for investors, according to a strategist from Credit Suisse. Read more: CNBC
China’s Ministry of Finance announced plans to exempt 16 types of U.S. products from additional tariffs on Wednesday, including food for livestock, cancer drugs and lubricants. The exemption, which is scheduled to go into effect from September 17, will be valid for a year through to September 16, 2020. Read more: CNBC
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