Story of the Day:
First Quantum Minerals (FQM) is determined and motivated in its mission to increase local content across its mining operations. Read more
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Zambia will place its sole 24,000 barrel per day Indeni Petroleum Refinery on care and maintenance under reforms aimed at increasing security of fuel supply, Energy Minister Peter Kapala said on Friday. Read more: Nasdaq
The Two Mine Suppliers and Contractors Associations on the Copperbelt have merged with a view of having a stronger voice in addressing issues affecting them. The Association of Mine Suppliers and Contractors and the Mine Suppliers and Contractors Association merged at a press briefing held in Kitwe facilitated by Kitwe Chamber of Commerce, Trade and Industry President Anthony Kabaghe. Read more: ZNBC
Finance Minister, Situmbeko Musokotwane, says the government is determined to create a business environment where both the public and private sector enterprises will thrive. Speaking at the fifth Industrial Development Corporation (IDC) Group Conference, Dr. Musokotwane assured that the new dawn government will make the business environment in the country as easy and friendly as possible. Read more: ZNBC
For the first time, Zambia is eligible to graduate from the category of a least developed country (LDC) after meeting two key indicators that show the country’s capacity to deal with structural challenges and vulnerabilities. Read more: Zambia Daily Mail
International Business and Finance
South African Airways and Kenya Airways have entered into a strategic partnership with each other, with the aim of establishing a pan-African airline carrier. Business Insider Africa understands that a Strategic Partnership Framework was signed earlier this week by both parties. Read more: Business Insider
Sales on Black Friday increased 29.8% from a year ago, according to estimates through 3 p.m. ET from Mastercard, which tracks payment data in stores and online, excluding car sales. E-commerce sales grew 10.6% from last year, while in-store sales increased 42.9%. Read more: CNN
The greenback is breaking out. The U.S. dollar this week climbed to highs not seen since July 2020 after Federal Reserve Chair Jerome Powell was renominated to the position. That decision gave a somewhat clearer outlook for monetary policy in the year ahead, including the likelihood of coming rate hikes. Read more: CNBC
European stocks are expected to start the new trading week far higher, despite extensive concerns over the newly discovered omicron Covid variant. The U.K.’s FTSE index is seen opening 97 points higher at 7,137, Germany’s DAX 191 points higher at 15,437, France’s CAC 40 up 99 points at 6,824 and Italy’s FTSE MIB up 324 points at 26,167, according to data from IG. Read more: CNBC
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In 21 trades recorded on Friday, 43,929 shares were transacted resulting in a turnover of K164,820.61. Trading activity was recorded in British American Tobacco Zambia, Copperbelt Energy Corporation, Lafarge. The LuSE All Share Index (LASI) remained at 5,433.44 with a percentage change of -0.14.
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