Story of the Day
Cement manufacturer Lafarge Zambia Plc announced its anticipation of a lower EPS when it publishes its six-month financial performance at the end of September 2019, according to a statement from the company. Read more
Domestic Business and Finance
Zimbabwean companies in the mining supplies sector are being encouraged by the country’s national trade development and promotion organisation ZimTrade to take advantage of opportunities in the Zambian market. Read more: Mining Weekly
Arc Minerals Ltd has received further “excellent” drilling results from the Cheyeza East target in Zambia, it said on Thursday. One hole found 1.3% copper over 32.5 metres, including segments with grades of 2.1% copper and 2.8% copper. Another found 1.0% copper over 17 metres, including 1.6% copper within that. Read more: Proactive Investors
Energy Minister Matthew Nkhuwa has disclosed that there is a team currently in South Africa to negotiate on the power purchasing agreement to enable the country to start importing 300 megawatts. Read more: ZNBC
The Zambia Airports Corporation Limited (ZACL) has declared K5 million dividend to the Government through the ministry of finance as a shareholder for the period ending December 2018. Read more: Zambian Business Times
The Bank of Zambia has said the proposal to reintroduce deputy ministers would lead to government incurring huge costs. Read more: Zambian Observer
International Business and Finance
The Federal Executive Council (FEC), presided over by President Muhammadu Buhari, yesterday approved a 2 per cent increase in Value Added Tax (VAT) to 7 per cent from 5 percent. It also approved the 2020 budget of N10.07 trillion and the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Read more: MSN
Some 300 new mining sites were discovered in Cameroon in the past five years, Cameroon’s Minister of Mining, Industries and Technological Development Gabriel Dodo Ndoke said on Tuesday. Read more: China.org
France says it will block development of Facebook’s Libra digital currency in Europe because it threatens the “monetary sovereignty” of governments. Read more: BBC News
Huawei’s chief executive has proposed selling its current 5G know-how to a Western firm as a way to address security concerns voiced by the US and others about its business. Read more: New York Times
Tariffs imposed or threatened by the United States and China could shave 0.8% off global economic output in 2020 and trigger more losses in future years, the International Monetary Fund said on Thursday. Read more: Reuters
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