Story of the Day:
PremierCredit is delighted to announce that its Peer to Peer lending platform is now live and offering investments in pre-vetted secured loans with attractive and guaranteed returns. Investments start from as low as ZMW500. Read more
Local Business and Finance Sponsored By Liquid Intelligent Technologies
The Zambia Revenue Authority (ZRA) has continued to dismantle Value Added Tax (VAT) refunds to reduce the backlog currently at about K37 billion. The Authority has in the month of November paid K1.3 billion in refunds surpassing the usual K850 million monthly allocation. Read more: Lusaka Times
Vice President Mutale Nalumango has called on critics of the Government not to mislead citizens by saying that the United Party for National Development (UPND) during campaigns pledged never to borrow. Mrs Nalumango said that the new dawn administration promised not to borrow recklessly and that it would restructure the country’s debt. Read more: Lusaka Times
The Gemstone Allied Workers Union has implored government to formalize the Small Scale Mining Industry. Union Secretary General Sifuniso Nyumbu says the informal status of the Small Scale Mining Industry poses a negative impact on economic development. Read more: ZNBC
Tourism Minister Rodney Sikumba says there is need to find projects in the sector where a component of Tourism Levy can be channeled to help market the country as a tourism destination. Speaking during a Hotel’s General Managers’ Association cocktail held in Lusaka , Mr. Sikumba said 70% of the Levy is collected in Lusaka and Livingstone hence the need to support Hotel operators. Read more: ZNBC
International Business and Finance
Stock futures rose slightly in overnight trading Sunday after the S&P 500 notched its best week since February at a fresh record close, rebounding from a big sell-off triggered by fears of the omicron coronavirus variant. Dow Jones Industrial Average futures traded 90 points higher. S&P 500 futures inched up 0.2% and Nasdaq 100 futures were up 0.3%. Read more: CNBC
The European Central Bank is set to halve the amount of assets it buys each month from April, according to a Reuters poll of ECB-watchers who judged that a reprieve from high euro zone inflation by late 2022 means an interest rate rise is years away. Read more: Yahoo Finance
Mercedes Benz Cars & Vans posted an adjusted return on sales of 11.9% for the first nine months of 2021. For the full year, the division targets an adjusted margin of between 10% and 12%. Read more: Reuters
Oil prices extended their rally on Monday as investor appetite improved amid growing relief the Omicron coronavirus variant may not cause severe illness and will likely have a limited impact on global fuel demand. Read more: Reuters
Capital Markets Report Sponsored By ZCCM-IH
In 51 trades recorded on Friday, 21,214 shares were transacted resulting in a turnover of K40,546.10. Trading activity was recorded in Copperbelt Energy Corporation, Lafarge, Standard Chartered Zambia and Zambeef. The LuSE All Share Index (LASI) closed at 5,590.72 with a percentage change of 0.
Chart of the Day: