Story of the Day:
Despite corporate bond market sales slipping by 63% in week 3, the fixed income market dominated the capital markets by 92% compared to the equities market despite the over 2200% surge in turnover during the week. Read more
Local Business and Finance
Standard Bank Group which operates in Zambia as Stanbic Bank has predicted that the Bank of Zambia will today raise its monetary policy rate to 11.25%. Read more: Lusaka Times
The African Development Bank, the European Investment Bank, German Development Bank and the World Bank have invested a total of $243 million for the Lusaka Sanitation Program (LSP). The project is being executed under the Lusaka Sanitation Master Plan, which aims to provide citywide sanitation services by 2035 and transform the lives of more than a million Lusaka residents by 2021. Read more: African Development Bank
UPND leader Hakainde Hichilema has written to the International Monetary Fund’s country office in Lusaka, presenting a multi-faceted approach and view on how he believes the Zambian economy can be resuscitated. Read more: Zambian Observer
The cost of living for a family of five in Lusaka increased by K28.41 to K6, 355.69 in October from K6, 327.28 in September. Read more: Zambia Reports
Economics Association of Zambia president Dr Lubinda Haabazoka has advised the government and the Bank of Zambia to quickly act appropriately to arrest the current economy challenges in the country by employing workable tactics. Read more: Zambia Reports
International Business and Finance
The Republic of Ghana and Boeing signed a provisional order for three 787-9 Dreamliners on Tuesday at the Dubai Airshow. Ghana intends to launch a new airline, the minister of aviation, Joseph Kofi Adda, told reporters, in which the government will hold a 10% stake and the rest will be held by the private sector. Read more: Africa News
Political and business leaders on Tuesday lauded innovation as an important driver of growth as the 2019 Global Business Forum comes to an end in Dubai. African and Emirati leaders agreed that both sides need to take advantage of the rise in technology to further open up space for innovators, for the continent to realize its dream of becoming the next big growth and investment frontier. Read more: Africa News
Federal Reserve Bank of New York President John Williams said the central bank isn’t committed to any particular policy path in the months ahead, even though he and his colleagues are comfortable right now with keeping rates steady after cutting them three times this year. Read more: Wall Street Journal
Alibaba has set a likely price for shares for institutional investors in its upcoming Hong Kong listing, a source with direct knowledge of the matter told CNBC. The e-commerce giant’s shares will likely be priced at 176 Hong Kong dollars ($22.48), the source said. Read more: CNBC
President Donald Trump threatened higher tariffs on Chinese goods if that country does not make a deal on trade. Read more: CNBC
Fewer international students are coming to the United States. That’s hurting American universities and the economy. The continued decline in international student enrollment since the fall of 2016 has cost the US economy $11.8 billion and more than 65,000 jobs, according to estimates from NAFSA: Association of International Educators, an international association of professional educators. Read more: CNN
Capital Markets Report
In 9 trades recorded yesterday, 4,292 shares were transacted, resulting in a market turnover of K16,932. Trading activity was recorded in AEL Zambia, CEC Zambia, Lafarge and Zambia Sugar. The LuSE All Share Index (LASI) maintained its previous close of 4,247.69 points as there were no price movements. The market remained on a capitalization of K56,485,586,027 including Shoprite Holdings and K22,246,380,047 excluding Shoprite Holdings
Chart of the Day: