Domestic
The Zambia Revenue Authority has entered into a tax settlement with First Quantum over a K76.5 billion tax bill. Read more: Lusaka Times
Vedanta Resources said on Wednesday it had notified its Zambian joint venture partner ZCCM-IH that it had launched arbitration proceedings related to an attempt by the Zambian government to liquidate Vedanta’s majority-owned Konkola Copper Mines. Read more: Reuters
The Zambian government attaches great importance to its bilateral cooperation with China, which will benefit the people of Zambia through improved economic growth, says a Zambian business expert to Xinhua. Read more: Xinhua
International
The Ministry of Investment and International Cooperation (MIIC) in Egypt on Sunday, 28. July 2019 signed a US$600,000 grant with African Development Bank to develop the environmental system for entrepreneurship. Read more: Africa Business Chief
Cattle have long been considered a measure of wealth across Africa but it is not just farmers cashing in. A pioneering app in South Africa allows investors, eager to benefit from rising global beef demand, buy shares in a cow from their mobile phone for as little as $41. Read more: Africa News
U.S. Federal Reserve on Wednesday lowered interest rates for the first time since the 2008 global financial crisis, amid rising concerns over trade tensions, a slowing global economy and muted inflation pressures. Read more: Xinhua
The government has announced an extra £2.1billion worth of funding to prepare for a no-deal Brexit – doubling the amount of money it has set aside this year. Read more: BBC News
The British car industry has been written off before. It now faces its biggest challenge since the 1970s. UK auto production dropped by a fifth in the first half of the year and investment plunged 70% as carmakers spent money on Brexit contingency plans instead of the technology they need to survive the disruption reshaping the global industry. Read more: CNN