Domestic
Vedanta Resources, the mining company owned by Indian tycoon Anil Agarwal, has suffered a setback in its legal battle with the government of Zambia. Read more: Financial Times
Nestle SA said a reorganization of its operations in Zambia to help ensure the Swiss food and beverage company’s continued presence in the southern African nation may lead to job cuts. Read more: Bloomberg
President Edgar Lungu is optimistic that integration of the Free Trade Areas in the region will make Africa a prosperous continent. Read more: Lusaka Times
56 foreign companies are expected to exhibit at the Copperbelt Investment Exposition, which is starting on Monday, 24th June in Ndola. Read more: ZNBC
Ditec Engineering Limited, a Zambian engineering company has pledged to invest US$3.5 million (about K42 million) to build a mixed use shopping mall and business park and renovate a three-star hotel in Mansa district of Luapula Province. Read more: Zambian Business Times
International
Five African commercial banks are investing up to $375 million in the construction of a new diamond mining vessel for a subsidiary of Anglo American’s diamond unit De Beers. Read more: Africa News
Philip Hammond is set to warn that a no-deal Brexit would harm the British economy, devour a £26.6 billion Brexit war chest, and risk the break-up of the UK. Read more: BBC
Former Chairman of Goldman Sachs Asset Management, Jim O’Neill, said China could use its currency to gain an edge over the U.S. by expanding the role of the yuan globally to challenge the dominance of the U.S. dollar. Read more: CNBC
Technology companies are trying to avoid a proposed new round of tariffs that takes aim at many American tech products. Read more: CNN
