Story of the Day:
ZCCM IH Chief Executive Officer, Mabvuto Chipata concluded his dividend cheque presentation week at the headquarters of the Industrial Development Corporation (IDC) in Lusaka, Zambia by presenting the largest cheque by value of approximately K27.2 million to Chief Executive Officer Mateyo Kaluba, on Thursday 13th February 2020, after two others were presented to shareholders NAPSA and Ministry of Finance earlier in the week. Read more
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Canada’s First Quantum Minerals Ltd does not require any expansion at its Kansanshi copper mine in Zambia to start operating until the end of 2024, Chief Executive Officer Philip Pascall said on Friday. Read more: Reuters
Zambia and Turkey have held the first ministerial session of the Joint Economic Commission (JEC) aimed at growing the economic bilateral relations, according to a statement by the Zambian Embassy in Turkey. At the meeting held in the capital Lusaka on Thursday, Zambia was represented by Foreign Minister Joseph Malanji while the Turkish government was represented by Zehra Zümrüt Selçuk, the family, labour and social services minister, the statement said. Read more: Hurriyet Daily News
Commonwealth Secretary-General BaronessPatricia Scotland QC, has urged Zambia to take advantage of the forthcoming Commonwealth Heads of Government Meeting (CHOGM) that will be held in Rwandato forge and enhance trade partnerships with Commonwealth Member States. Read more: Independent Observer
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Over the years, human resource management has become more and more complex because just like technology, people are evolving at an incredible rate. Read more
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Zimbabwe’s inflation rate fell sharply to 2.23% month on month in January, from 16.55% the previous month, driven down by smaller increases in the price of food and non-alcoholic drinks, statistics agency Zimstat said on Sunday. Read more: Reuters
The challenges to South Africa’s credit outlook were highlighted by President Cyril Ramaphosa’s state-of-the-nation address, Fitch Ratings said. While Ramaphosa promised progress in his speech on Thursday, he offered only partial detail on key policy areas, including stabilizing the electricity sector, improving public finances, accelerating economic growth and land reform, the ratings company said in an emailed statement on Friday. Read more: Bloomberg
The German economy had another very weak three months at the end of last year, according to official figures. Compared with the same period in 2018, GDP was higher by just 0.4%. Read more: BBC News
As Chinese authorities rush to support businesses struggling to survive the effects of the new coronavirus, blockchain technology is showing its potential in an archaic financing system. Read more: CNBC
The Trump administration announced it would follow through with threats to slap steep tariffs on the European Union on Friday, the latest effort to penalize the bloc in a long-running dispute over aircraft subsidies. Read more: Business Insider
China could expand at the slowest pace since the 2008 global financial crisis this quarter, as a deadly viral outbreak drags on activity in the second-largest economy, a poll showed on Friday. Read more: Business Insider
Two top executives at British Airways, the U.K. flag carrier, are leaving the company in the wake of a damaging pilot walkout last year and amid a transition at the carrier’s parent to a new chief executive. Read more: Market Watch
UBS Group is searching for a successor to Chief Executive Sergio Ermotti, making it the latest European bank to consider changes at the top in an industry beset by sluggish growth. Read more: Investment News
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There were no trades recorded on Friday. The LuSE All Share Index (LASI) maintained its close at 4,254.82 points as there were no share price movements. The market closed on a capitalization of K57,338,664,618 including Shoprite Holdings and K23,099,458,638 excluding Shoprite Holdings. Kindly note that the change to the market capitalization is due to the new listing of the LuSE’s 23rd company, Zambia Forestry and Forest Industries Corporation (Zaffico/ZFCO).
Chart of the Day: