Story of the Day:
Thanks to the Netflix Africa team over in SA we have been given privy access to the upcoming titles for the Zambian version of Netflix. There is surely something for everyones taste this month with shows ranging from anime to ultra reality. We’ll give everyone a brief summary of each title and we will begin reviewing the shows over the coming month. Read more
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The Economics Association of Zambia (EAZ) says the country’s economy has performed well despite the effects of the COVID-19 pandemic. EAZ President Lubinda Habazoka says the economy has been resilient and that there is need to support government’s efforts. Read more: ZNBC
Zambia is in talks with the Democratic Republic of Congo (DRC) on the operationalization of the Mokambo and Kasumbalesa border post on a 24 hour- basis. This is in view of the expected increase in trade, once the new international airport in Ndola on the Copperbelt, is commissioned, as well as the improvement of connectivity between the two countries. Read more: ZNBC
Government plans to introduce statutory instruments that will spell out the minimum wage by sector. Labour and Social Security Minister Joyce Simukoko says some of the sector that will be consider will include the Media and mining sector. Read more: Lusaka Times
Minister of Agriculture Michael Katambo has expressed optimism that the country is poised for a bumper harvest this year. Mr. Katambo says despite flush floods recorded in most farming areas, he is confident that the country will record a favorable harvest. Read more: Lusaka Times
International Business and Finance
The 10-year Treasury Note yield may be on the verge of breaking out of its slump. After stabilizing over the past several weeks, Wells Fargo Securities’ Michael Schumacher predicts the current risk backdrop will re-energize yields in the coming weeks. Read more: CNBC
Huawei is boosting its efforts in software areas like cloud computing and smart cars as U.S. sanctions hurt its hardware business. Last week, Arcfox, a brand under automaker BAIC Group, launched a car with Huawei’s vehicle technology. Read more: CNBC
The national carriers of Kenya and the Democratic Republic of Congo – Kenya Airways and Congo Airways – signed a two-year partnership agreement on Thursday with the overall objectives of viability and sustainability of the two airlines. Read more: CGTN
South Korean car manufacturers, Hyundai Motor Company and KIA Motors will set up a car manufacturing unit in Ghana, the country’s minister for trade said in a statement. This will create over 6,000 jobs in the nation. Read more: Business Insider
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In 78 trades recorded on Friday, 469,391 shares were transacted resulting in a turnover of K441,057.35. Share price gains were recorded in Puma, First Quantum Minerals Zambia, Zanaco, ZAFFICO and in Copperbelt Energy Corporation. The LuSE All Share Index (LASI) closed at 4,089.24 points, up 0.31% from its previous close of 4,076.64 points. The market closed on a capitalization of K57,975,092,793 including Shoprite Holdings and K23,730,452,019 excluding Shoprite Holdings.
Chart of the Day: