Story of the Day:
In one of the annual events, being the fourth annual Competition and Consumer Protection workshops, in alliance with competition Law held by MUSA DUDHIA & Co. on Friday, 27th November the matter being addressed at the workshop was how to understand Competition and Consumer Rights in the course of this Covid-19 pandemic. Read more
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The Zambezi River Authority (ZRA) on Tuesday said that it will give equal job opportunities to citizens of Zimbabwe and Zambia when construction of the 4.5-billion-U.S. dollar Batoka Gorge Hydro-Electric Scheme (BGHES) begins. Read more: Xinhua
Commerce, Trade and Industry Permanent Secretary Mushuma Mulenga says government has formulated policies to deal with most of the challenges affecting the business sector. He has called for enhanced working relations between Government and the private sector to ensure implementation is achieved. Read more: ZNBC
Musika has invested over US$1.3 million following the commercialisation of the cassava value chain. Head of corporate affairs Pamela Hamasaka said commitment by Government to diversify the economy and practical steps taken towards promoting agriculture as a key sector is commendable. Read more: Zambia Daily Mail
ZCCM-IH minority shareholders have requested government to withdraw gold mining licences granted to miners in Lusaka’s Rufunsa district. Read more: Zambian Observer
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HSBC has seen its share price rocket more than 50% since it hit a 25-year low in September. The UK’s biggest bank has been under increasing regulatory and economic pressure in its key markets, including Europe and Asia. But since September its fortunes have changed with its shares rising by more than 50% in Hong Kong and 48% in London, where it is listed. Read more: BBC News
Analysts at Goldman Sachs believe copper prices could soon test their existing record highs, saying the bull run for the industrial metal is now “fully underway.” Copper prices on Tuesday rose to their highest level since March 2013, touching $7,719 per metric ton following stronger-than-anticipated manufacturing activity in China and South Korea. Read more: CNBC
President-elect Joe Biden will not immediately remove tariffs imposed by President Donald Trump on China, a legacy of the outgoing administration’s trade war, as he moves to develop a strategy with U.S. allies on how to best deal with Beijing, according to The New York Times. Read more: CNBC
The Big Tech stocks have boomed thanks to strong gains in revenue, market share and earnings over the past few years — which has raised antitrust concerns and created intense regulatory scrutiny. But that dominance might be about to change. Read more: CNN
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In 15 trades recorded yesterday, 4,570,400 shares were transacted yielding a market turnover of K3,420,903. A share price loss of K0.16 was recorded in Real Estate Investments Zambia. Trading activity was also recorded in Copperbelt Energy Corporation and Zanaco. The LuSE All Share Index (LASI) closed at 3,777.65 points, 0.05% down from its previous close of 3,779.72 points. The market closed on a capitalization of K56,920,386,821 including Shoprite Holdings and K22,681,180,841 excluding Shoprite Holdings.
Chart of the Day: