Story of the Day:
The final week of corporate bond trading for December 2019 was meet with the opening week of trading for January 2020. It was the last week of December that recorded sales with no sales recorded in 2020 thus far. Read more
Local Business and Finance
Canadian miner First Quantum Minerals Ltd. is weighing investment of around US$1 billion to lift output at Africa’s biggest copper mine in Zambia. Read more: Financial Post
Zesco said on Saturday that it was placing its hope on the completion of a hydro power station funded by the Chinese government to boost electricity generation. Read more: Xinhua
A proposed transaction between regional lender Equity Group Holding and Atlas Mara Ltd (ATMA) has collapsed after the parties failed to reach an agreement on the valuation of four banks in Zambia, Mozambique, Tanzania and Rwanda. Read more: The East African
Zambia Consolidated Copper Mines – Investment Holdings (IH) has partnered with Instinct Energy Limited, an Australian company, to carry out exploration of coal bed methane (CBM) in Southern Province. Read more: Zambia Daily Mail
ZESCO will not renew the Bulk Supply Agreement with Copperbelt Energy Corporation (CEC) Plc because it is not beneficial to the company and Zambian people, company director for strategy and corporate services Patrick Mwila has said. Read more: Zambian Observer
Minister of Finance Dr. Bwalya Ng’andu has announced the release of K300 million to the National Road Fund Agency (NRFA) to clear outstanding arrears for local road contractors and consultants. Read more: Zambia Reports
Zambia National Building Society (ZNBS) has announced the exiting of its Chief Executive Joseph Chikolwa. Read more: The Business Telegraph
Policy Research and Monitoring Center (PMRC) has called on financial institutions to take advantage of newly developed public infrastructure in rural areas, to extend financial services to the areas. Read more: ZNBC
International Business and Finance
Oil prices have risen sharply after the killing of a top Iranian general in Iraq.
Analysts warned the action could escalate tensions in the region and affect global oil production. Read more: BBC News
The U.S. manufacturing sector fell into its deepest slump in more than a decade in December as the U.S.-China trade war kept a lid on factory output, orders and employment, although the long-awaited Phase 1 deal between Washington and Beijing could limit further downside. Read more: Reuters
Two Federal Reserve officials said Friday that broad structural changes in the global economy have held down interest rates, inflation and economic growth in ways that are difficult for central bankers to address. Read more: Wall Street Journal
Fiat Chrysler Automobiles will unveil plug-in hybrid versions of the Jeep Wrangler, Cherokee and Compass. Read more: CNN
Consumer and tech companies are broadly overvalued and Apple is likely to give up a big chunk of its 2019 gain, according to Goldman Sachs. Read more: Business Insider
Capital Markets Report
There were no trades on Friday. The LuSE All Share Index (LASI) maintained it previous close of 4,264.51 points. The market closed on a capitalization of K56,516,055,827 including Shoprite Holdings and K22,276,849,847 excluding Shoprite Holdings.
Chart of the Day: