Story of the Day:
Three weeks into the final month of the year, after five consecutive weeks of recording trades on the bond market we revert back to our old pattern of not recording trades on the bond market, there were no bonds traded throughout the week. The equities market completely dominated the bond market recording a score of 100% to 0%. Read more
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Parliament has approved the k173.0 billion 2022 national budget which is equivalent to 37.1% of the country’s gross domestic product (GDP), surpassing the 2021 Budget, which equalled 32.6% of GDP forecast for that year. Read more: Lusaka Times
The government is eyeing a positive copper production of up to 1.3 Million metric tonnes for the 2022 fiscal year as the country begins taking steps towards achieving its target of 3 Million metric tons of copper annually within the next 10 years. Read more: Lusaka Times
Mines Minister Paul Kabuswe says government will soon create a data base for all areas where Gold mining is taking place. Mr Kabuswe says he will ensure government reaps maximum benefits from the resource. Read more: ZNBC
Energy Regulation Board (ERB) has exceeded its treasury target of non-tax revenue by over 50% this year. Acting Director General Fred Han’Gandu says ERB collected in excess of over K330 Million above the set annual target of K200 million for the year 2021. Mr. Han’Gandu has attributed the increase to ERB’s proactive debt management interventions implemented in the period under review. Read more: ZNBC
International Business and Finance
Canada’s economy was humming in the final weeks of 2021 at about pre-pandemic levels, before the country was hit by a wave of Covid-19 cases and fresh lockdowns. GDP rose by 0.3% last month, extending the streak of monthly gains to six, according to a preliminary estimate from Statistics Canada published Thursday. In October, the economy expanded by 0.8%, the agency said. Read more: Al Jazeera
The United States economy grew at a slightly faster pace in the three months ending September than originally thought, revised government figures released on Wednesday show. Real gross domestic product (GDP), which measures the nation’s total output of goods and services, increased at a 2.3 percent annualised rate in the third quarter, said the Commerce Department. Read more: Al Jazeera
Electric cars are taking over the streets, big companies are trying to be nicer to the environment and people are taking action to stop climate change. But here’s a reality check: The world could consume more oil in 2022 than ever before. Global energy demand rebounded strongly this year as pandemic restrictions eased, and it’s expected to rise further in 2022. The International Energy Agency predicts that global oil demand will increase by 3.3 million barrels per day next year to 99.5 million barrels per day. Read more: CNN
International air travel will likely remain sluggish in the near term as uncertainties over the omicron Covid variant linger, according to an aviation analyst. Brendan Sobie, independent analyst at Sobie Aviation, said omicron has hit passenger confidence in “travel right now because things are changing every day.” Read more: CNBC
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In 45 trades recorded yesterday, 13,851 shares were transacted resulting in a turnover of K47,697.52. Trading activity was recorded in AECI, Copperbelt Energy Corporation, Lafarge, National Breweries, Pamodzi, ZAMEFA, Zanaco and Zambia Sugar. The LuSE All Share Index (LASI) closed at 5,787.37 with a percentage change of -0.13.
Chart of the Day:
