Story of the Day:
The year 2020 came and went like bad dream. Some of us thought we had survived the worst of it. Sadly, following a planning meeting, the Founder of this website contracted the ubiquitous COVID 19. This was despite practicing all the techniques on covid prevention that were aptly practiced in the year to forget. Read more
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Debt-laden Zambia will hold discussions with the International Monetary Fund (IMF) from Feb. 11 to March 3 on a formal relief programme, the Finance Ministry said on Friday. Read more: Reuters
According to a notice of intention of price hike of cement by the country’s largest cement manufacturer Lafarge, a rise in energy, gypsum and exchange rate denominated costs were key drivers of the 18% proposed on its products. Read more: The Business Telegraph
Barrick Gold Lumwana has recorded increased copper production of around 35,380 metric tonnes in the last quarter of 2020, up from 28,576 tonnes in the corresponding period in 2019. Read more: News Diggers
Zambia and the Democratic Republic of Congo (DRC) are this week expected to hold high level bilateral talks over the expeditious implementation of the long- awaited Kasomeno-Mwenda toll road and Luapula bridge project in 2021. Read more: Lusaka Times
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Direct investment in the US by foreign companies plummeted 49% to $134 billion last year, according to the United Nations Conference on Trade and Development. By contrast, foreign direct investment in China grew by 4% to $163 billion in 2020. 2020 marked the first year in history that foreign direct investment in China overtook that of the US. Read more: CNN
South Africa may be forced to revise its tax increase targets as its budget shortfall is set to breach wartime levels for a second consecutive year. The budget deficit will reach 11% of gross domestic product in the fiscal year through March 2022, according to the median estimate of 13 economists in a Bloomberg survey. Read more: Ghana Web
Alibaba shares jumped 5% at market open as founder Jack Ma resurfaced in a 50-second video clip on Wednesday after he was suspected missing for weeks. Read more: Business Insider
Morgan Stanley boosted both its short and long-term operating targets on Wednesday after coronavirus-induced volatility in financial markets helped the Wall Street bank post a quarterly profit that sailed past estimates. Read more: Reuters
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There were no trades recorded on Friday. The LuSE All Share Index (LASI) maintained its close at 3,912.33 points, as there were no share price movements. The market closed on a capitalization of K57,358,966,682 including Shoprite Holdings and K23,119,760,702 excluding Shoprite Holdings.
Chart of the Day:
