Story of the Day:
Zambian Breweries’ recycling initiative – Manja Pamodzi Limited – has signed a Memorandum of Understanding with Java Foods to collect recyclable waste from its factory as part of the food processor’s contribution to the Extended Producer Responsibility (EPR) framework designed to increase manufacturers’ roles in building a green economy. Read more
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The World Bank on Thursday announced that it was providing Zambia with additional funding of 105 million U.S. dollars to help secure the livelihoods of about 300,000 of the poorest and most vulnerable households. Read more: Xinhua
Authorities from Zimbabwe and Zambia are in an urgent cross border migration management meeting in Chirundu. The meeting seeks to enhance cross border coordination between the two countries, identify challenges around trade and protection of people. Read more: ZimEye
China Non Ferrous Metal Company (CNMC) Luanshya Copper Mines (LCM), is to consider the reopening of Shaft 28 and Lufubu mines owing to the increased copper prices on the international market, Patriotic Front aspiring Roan parliamentarian Nathan Chanda has disclosed. Read more: Lusaka Times
The prices of different brands of cement are still ranging between K135 and K145 for a 50-kilogramme bag, over a month after Competition and Consumer Protection Commission (CCPC) directed that prices should reduce to K110. Read more: Zambia Daily Mail
International Business and Finance
New research has shown that invasive species of weeds, insects and worms cost Africa $3.66 trillion every year. The researchers based in Ghana, Kenya, Britain, and Switzerland showed the severe effects of species introduced by human activity. The cost of the invasive species is about 1.5 times the combined Gross Domestic Product (GDP) of all African countries. Read more: Business Insider
Office-sharing startup WeWork has posted a $2.06bn quarterly loss after being hit hard by Covid-19. The announcement comes as WeWork prepares for its stock market debut. Read more: BBC News
Almost exactly 20 years to the day after Apple opened its first retail store, Google is finally following suit. The company announced Thursday that it is opening its first physical retail store, called Google Store, this summer in New York City. Read more: CNN
The end is finally near for Internet Explorer, one of Microsoft’s most-reviled products that refused to die. Microsoft announced this week that it will end support for Internet Explorer 11 on June 15, 2022. That final nail in the coffin came after years of flirting with IE’s demise. Read more: CNN
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In 33 trades recorded yesterday, 5,111,246 shares were transacted resulting in a turnover of K4,600,481. Share price gains were recorded in Lafarge of K0.61 and in Zanaco of K0.15. Trading activity was also Copperbelt Energy Corporation, First Quantum Minerals and ZAMEFA. The LuSE All Share Index (LASI) closed at 4,218.25 points, 1.84% up from its previous close of 4,140.66 points. The market closed on a capitalization of K58,570,656,394 including Shoprite Holdings and K24,326,015,619 excluding Shoprite Holdings.
Chart of the Day: