Story of the Day:
How far we have with accelerating inflation. On 28th January 2021, Acting Director of Census and Statistics, Daniel Daka announced that annual inflation for January 2021 now stood at 21.5%. Followers of inflation will recall that in January of 2019, annual inflation stood at 7.9%. Read more
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Zambia and Ethiopia are the countries most likely to follow in Chad’s footsteps and seek a debt restructuring under a new G20 common framework, a French finance ministry source said on Thursday. Read more: MSN
The government says over K4 billion has been collected from the 27 toll gates countrywide since 2014. Read more: Lusaka Times
Mines Minister Richard Musukwa has disclosed that a number of international investors have expressed interest to partner with ZCCM-IH in running Mopani Copper Mine. Mr. Musukwa says the investors are from China, Qatar, South Africa, the United Kingdom and the United States of America. Read more: ZNBC
Construction of the Kasomeno-Mwenda toll road and Luapula Bridge, to connect Zambia and the Democratic Republic of Congo (DRC), will start this March. Read more: ZNBC
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The US economy shrank by 3.5% last year faring better than many other countries despite the heavy economic toll caused by the pandemic. Output increased at an annual rate of 4% in the last three months of 2020. Read more: BBC News
Toyota is now the world’s largest carmaker. The Japanese company has reclaimed its place as the world’s best-selling automaker, with its latest results showing an edge over Volkswagen Group. Toyota sold 9.5 million vehicles around the world in 2020. Read more: CNN
For the first time in five years, the Apple brand is the most valuable in the world at $263.4 billion, surpassing Amazon and Google, according to a ranking from Brand Finance Global 500. Apple’s diversification strategy paid off, as the brand increased 87% in value last year. Read more: Business Insider
U.S. stock futures moved lower in overnight trading on Thursday, as Wall Street’s volatile week continued, fueled by market volatility spurred by speculative trading from retail investors. Dow futures fell 300 points. S&P 500 futures and Nasdaq 100 futures also traded in negative territory. Read more: CNBC
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In 15 trades recorded yesterday, 196,694 shares were transacted yielding a market turnover of K346,720. A share price gain of K0.01 was recorded in Copperbelt Energy Corporation. Share price losses were recorded in Standard Chartered Zambia of K0.03 and SHOP of K0.01. Trading activity was also recorded in Lafarge, and Zanaco. The LuSE All Share Index (LASI) closed at 3,904.59 points, 0.20% down from its previous close of 3,912.33 points. The market closed on a capitalization of K57,319,772,494 including Shoprite Holdings and K23,086,001,308 excluding Shoprite Holdings.
Chart of the Day: