Story of the Day:
Zambeef has announced it expects turnaround results for the year ending September 2019 with group revenue and income well over K3 billion and K18 million respectively following a half year “scare” following concerns of the impact of both macroeconomic factors and the forces of nature. Read more
Local Business and Finance
Zambia’s kwacha fell the most against the dollar in four years and may continue to slide to record lows as “panic buying” of the U.S. currency sets in, according to FNB Zambia, the local unit of FirstRand Bank Ltd. Read more: Bloomberg
Zambian Vice-President Inonge Wina said on Friday that plans for the re-launch of the national airline were still active. Read more: Xinhua
Government has moved a step closer to enacting a law that will tax internet services. Read more: Lusaka Times
Chinese tech giant Huawei has been granted a go ahead to mount security cameras across Lusaka in a project to turn Lusaka into a Smart City. Read more: Lusaka Times
President Edgar Lungu has called for partnerships between the Zambia National Service (ZNS), local and foreign investors to enhance food security in the country. Read more: Zambia Daily Mail
International Business and Finance
The Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia on Thursday agreed to one of the deepest output cuts this decade to support crude prices and prevent a glut, though they are still debating how long the curbs will last into next year. Read more: Al Jazeera
The aggregate potential cost savings for banks from AI applications is estimated at $447 billion by 2023, with the front and middle office accounting for $416 billion of that total. Read more: Business Insider
Uber launched in Ivory Coast’s commercial capital Abidjan on Thursday, part of its expansion into African markets with low levels of car ownership and limited mass transport. Read more: Africa News
Carbon-intensive firms are likely to lose 43% of their value thanks to policies designed to combat climate change, a report says. Meanwhile the most progressive companies will see an uplift of 33% in their value. The forecast was commissioned by the UN-backed Principles for Responsible Investment (PRI). Read more: BBC News
When President Donald Trump arrived in the United Kingdom this week, he landed bang in the middle of a huge political fight about the country’s National Health Service. One of the biggest issues in the UK election slated for December 12 is what a trade deal with the United States after Brexit might look like, and whether or not it would allow American pharmaceutical companies to charge the NHS more for their drugs. Read more: CNN
U.S. equities have been the best place to invest during the past 10 years, but that dominance could shift in 2020. Read more: CNBC
The U.S. job market strengthened in November, as employers added 266,000 jobs and unemployment matched a 50-year low, fueling the economic expansion. Read more: Wall Street Journal
Japan’s economy grew at a much faster pace than initially estimated in the July-September quarter thanks to stronger-than-expected spending by companies, government data showed Monday. Read more: Market Watch
Capital Markets Report
In 53 trades recorded yesterday, 82,497 shares were transacted, resulting in a market turnover of K101,802. Trading activity was recorded in Copperbelt Energy Corporation, Lafarge, PUMA, Standard Chartered Bank Limited, Zanaco and Zambia Sugar. The LuSE All Share Index (LASI) closed at 4,268.90 points down from its previous close of 4,272.91 points. The market closed on a capitalization of K56,573,805,829 including Shoprite Holdings and K22,334,599,849 excluding Shoprite Holdings.
Chart of the Day: