Domestic
Mining company Vedanta said on Thursday that it is seeking an urgent court order in South Africa to prevent Zambia’s mining investment arm ZCCM from winding up its disputed Konkola Copper Mines (KCM) business. Read more: Reuters
Zambia Railways says it is in the market seeking US$922 million capitalization for its 5 year rehabilitation plan. Read more: Lusaka Times
Minister of Tourism and Arts Charles Banda says a Spanish Chamber of Commerce delegation is expected in the country on July 8th 2019 to explore areas of investment in tourism. Read more: Lusaka Times
Finance Minister Margaret Mwanakatwe says government will take on board concerns raised by various stakeholders over the proposed nine percent sales tax. Read more: ZNBC
Government is concerned that only a paltry 10 percent of the four billion dollars spent on procuring goods and services annually by mining firms goes to Zambian companies. Read more: ZNBC
International
Kenya received a $750 million loan from the World Bank last week and will be starting talks on a new facility as early as the fourth quarter of the year. Read more: Bloomberg
Oil companies are under increasing pressure to bring fuel to market faster and cheaper, leading BP Plc to conclude some of its resources “won’t see the light of day.” Read more: Yahoo Finance
Vedanta Ltd Wednesday said it will invest US$245 million for finding oil and natural gas over the next 3-4 years in the 10 areas it won in the latest licensing round. Read more: Times of India
The United States hit back against Huawei on Wednesday, asking a federal court in Texas to dismiss the Chinese firm’s lawsuit against a US government ban on its products. Read more: CNN