Domestic
Zambia’s President Edgar Lungu said that he will go ahead with a new non-refundable sales tax in place of Value Added Tax, despite criticism from mining companies. Read more: Reuters
President Edgar Lungu says the executive has made a final decision to intervene into the deteriorating situation at the Konkola Copper Mines (KCM) following its failure to develop its mines despite several empty promises. Read more: The Independent Observer
The World Bank has approved a concessional loan of $100 million for Zambia to improve its natural resource management, it said on Friday. Read more: Nasdaq
The Zambian Embassy in Ethiopia has partnered with the Addis Ababa Chamber of Commerce and Sectoral Associations to accelerate the work of the Zambia-Ethiopia Business Forum in fostering trade and business between the two countries. Read more: Lusaka Times
International
Zimbabwe’s central bank has secured a $500 million loan from unspecified international banks to support interbank currency trading from Monday and ease a dollar crunch that has brought fuel and medicine shortages, Governor John Mangudya said. Read more: Reuters
MTN Nigeria, owned by South Africa’s MTN Group, listed on Nigerian Stock Exchange (NSE) in a $6.54 billion flotation. Read more: Africa News
New US measures that restrict exports to Huawei could cost Silicon Valley billions in lost revenue. Read more: CNN
Theresa May has promised to set out a “new and improved” Brexit deal next month as she tries to stitch together a cross-party coalition of MPs to pass her EU withdrawal treaty at the fourth attempt. Read more: Financial Times
Donald Trump is easing trade tensions with US allies, bowing to mounting domestic pressure to rein in commercial conflicts across the world and focus on an escalating tariff battle with China. Read more: Financial Times
Saudi Energy Minister Khalid al-Falih said on Sunday there was consensus among OPEC and allied oil producers to drive down crude inventories “gently” but his country would remain responsive to the needs of what he called a fragile market. Read more: Reuters
