Story of the Day:
ZCCM IH has conveyed a message of condolences to the family of its former Chairman and Chief Executive Francis Kaunda, according to a statement from the group. Read more
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Dual-listed Jubilee Metals Group has successfully concluded further transactions to secure the rights to an additional about 115 million tonnes of copper and cobalt-containing surface tailings in Zambia. These transactions are in line with its stated strategy to expand operations in the country and are in addition to the about 155 million tonnes of tailings that have already been secured. Read more: Mining Weekly
Zambia has been selected to host the first-ever World Communication Forum Africa Conference where professional communicators will meet, a government spokesperson said on Thursday. Minister of Information and Broadcasting Services Dora Siliya said the forum will be held from Nov. 24 to Nov. 25 in Lusaka, the country’s capital. Read more: Xinhua
Government says enhanced partnerships with the private sector is key to drive development and empowerment for women. Commerce, Trade and Industry Minister Christopher Yaluma says women focused initiatives are key in ensuring they effectively participate in economic development. Read more: ZNBC
Standard Chartered Bank Zambia has committed US$50,000 to support the growth of women-led businesses by harnessing technology. Read more: Zambia Daily Mail
Zambia’s largest jeweler, Jewel of Africa, has embarked on an ambitious programme that will enable it to accelerate the gemstone value chain. The concept, dubbed ‘mine to you’, will enable the company to accelerate the mining of precious stones, jewelry manufacturing and retailing of the jeweler, thus helping to increase revenue earned from exports of finished products. Read more: Zambia Daily Mail
Zambia on Thursday launched three technical reports aimed at promoting sustainable development by ensuring that natural resources were mainstreamed in development planning. The World Bank-led Wealth Accounting and the Valuation of Ecosystem Services (WAVES) calls for sustainable utilization of natural resources for development planning and national economic accounts. Read more: CGTN
International Business and Finance
The U.S. Federal Reserve left interest rates unchanged at ultra-low levels Thursday, and warned that the Covid-19 pandemic will continue weighing on the economy in the short term. Read more: CNN
Bitcoin soared more than 7% Thursday and was trading above $15,000 — its highest level in nearly three years — as mainstream interest in the cryptocurrency builds and the US dollar weakens. Read more: CNN
Luxury carmaker Bentley has unveiled plans to go fully electric by 2030. Before then, the brand will be switching its model range to offer only plug-in hybrid or battery electric cars by 2026. Read more: BBC News
Uber shares dropped as much as 4% Thursday as the company reported third quarter revenue that missed expectations, but picked up when the CEO said there are early signs it would fully recover from the Covid 19 pandemic. Overall, Uber lost $1.09 billion on a GAAP basis during the quarter, an improvement from a year ago when their losses amounted to $1.16 billion. Read more: CNBC
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In 29 trades recorded yesterday, 11,767 shares were transacted yielding a market turnover of K31,118. Trading activity was recorded in AEL Zambia, Copperbelt Energy Corporation, Lafarge, Standard Chartered Zambia, Zambia Breweries and Zambeef. The LuSE All Share Index (LASI) maintained its close at 3,757.83 points, as there were no share price movements. The market closed on a capitalization of K56,866,110,668 including Shoprite Holdings and K22,626,904,688 excluding Shoprite Holdings.
Chart of the Day: