Story of the Day:
LUSE listed ZANACO Bank Plc has advised shareholders that it will record higher than expected earnings when it reports its 2021 half year financial results to the market compared to the same period in the previous financial year, according to a statement from the bank. Read more
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Zambia said on Friday it would host a technical staff visit from the International Monetary Fund from Sep 27 to Oct 1. According to a statement issued by the treasury, the IMF staff will work with the ministry to understand the key policies and specific reform measures prioritised by the new dawn Administration. Read more: ZNBC
Government has suspended the harvesting and export of Mukula trees with immediate effect. Lands and Natural Resources Minister Elijah Muchima says this has been done to verify the documentation of those exempted and the impact of the 2017 ban. Mr. Muchima notes that Mukula trees continues to be harvested and exported in excess of the authorized amounts. Read more: ZNBC
Government says it will partner with stakeholders in the science and technology industry on the country’s journey towards transformation of the economy. Minister of Technology and Science, Felix Mutati notes that Zambia has the right prototypes and critical thinkers that are creating solutions ,but that the missing link is how to move the prototype to the market and how to create value. Read more: Lusaka Times
Zambia has unveiled a US$38 billion four-year-tourism sector revival masterplan that will be pivotal to the country’s post-pandemic economic recovery. The Zambia Tourism Association, the Events Professional Association and the soon-to-be established Conference Bureau will devise strategies that ensure the country becomes an attractive destination for international business and leisure travellers. Read more: The Southern Times
International Business and Finance
Stock futures climbed in early morning trading on Monday as investors braced for the last week of a volatile September. Futures on the Dow Jones Industrial Average rose 145 points. S&P 500 futures and Nasdaq 100 futures both traded in positive territory. Read more: CNBC
European stocks are set to rise on Monday, with German election results seen eliminating a key market risk for investors in the region. The German DAX is set to rally by 107 points to 15,527, while the U.K.’s FTSE 100 is set to climb by 59 points to 709, and France’s CAC 40 is set to rise by 43 points to 6,675, according to IG. Read more: CNBC
A total of 25 Chinese economic and trade cooperation zones have been established in 16 African countries, according to the China-Africa Economic and Trade Relationship Annual Report (2021) released on Saturday. The report came ahead of the second China-Africa Economic and Trade Expo in Changsha, capital of central China’s Hunan Province, from September 26 to 29. Read more: CGTN
Angola and the Democratic Republic of Congo (DRC) intend to boost their existing joint oil exploration project, officials announced here Wednesday. Read more: CGTN
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In 22 trades recorded yesterday, 351,543 shares were transacted resulting in a turnover of K6,215,829. Trading activity was recorded in PUMA, SHOP, ZAMEFA, and Zambia Sugar. The LuSE All Share Index (LASI) maintained its close at 4,895.54 points, as there were no share price movements.
Chart of the Day: