Story of the Day:
As part of its ongoing efforts to promote financial literacy, Stanbic Bank Zambia has launched a Financial Fitness Academy.
The academy is designed to provide bank employees with the skills to manage their personal finances and achieve their financial goals. These skills will then be transferred to people across the country through Stanbic’s community-based financial literacy programmes. Read more
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Parliament has adopted a Report of the Committee on National Economy, Trade and Labour Matters on the proposal to ratify the agreement to establish the Tripartite Free Trade Area among COMESA, East African Community and SADC. Earlier, Chairperson for the Parliamentary Committee on National Economy, Trade and Labour Matters, Situmbeko Musokotwane said most stakeholders have supported the country’s decision to ratify the Tripartite Free Trade Area. Read more: ZNBC
Zambia yesterday represented by Minister of Commerce, Trade and industry Christopher Yaluma participated in the 2020 China International Import Expo (CIIE) through a visual meeting. The CIIE is a global event and has earned itself great recognition of being a viable platform for promoting investment and deepening multilateral trade and economic integration. Read more: Lusaka Times
Interlands Motors Limited trading as Puma Filling Station has dragged Disabled Multi Purpose Association of Zambia to the Lusaka High Court, claiming payment of over K1.5 million accrued by the defendant on its fuel and lubricants account. Read more: News Diggers
Zambia’s customer body on Wednesday, November 4, voiced worry over the unpredictable supply of oil in the country, stating that the situation could produce an upsurge in the prices of necessary commodities if not manage. Read more: MENA FN
International Business and Finance
US stock markets have recorded their biggest post-election leap in decades despite continuing uncertainty over which candidate will win the race. Tech and health firms, now seen as less likely to face new regulation, led the gains. Facebook rose more than 8%, while major health insurance firms saw double-digit jumps. The Dow closed up more than 1.3%, while the wider S&P 500 climbed 2.2%. The tech-heavy Nasdaq gained nearly 3.9%. Read more: BBC News
The UK and EU have said serious differences remain over a post-Brexit trade deal, as the latest talks came to an end in Brussels. UK negotiator Lord David Frost said “wide divergences” remained in some areas, despite progress being made. His EU counterpart, Michel Barnier, said there were “serious divergences” over fishing and competition rules. Read more: BBC News
BMW’s third-quarter profit rose almost 10% thanks to Chinese demand for luxury cars, but the German automaker warned a new wave of coronavirus infections sweeping Europe and the United states posed a “considerable” risk to its business. Read more: Reuters
The Bank of England is set to pump up its huge bond-buying stimulus plan to more than $1 trillion (£771 billion) on Thursday as Britain’s economy takes a fresh hit from new coronavirus lockdowns and another possible blow from a no-deal Brexit. Read more: Yahoo Finance
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In 48 trades recorded yesterday, 1,739,798 shares were transacted yielding a market turnover of K787,349. Trading activity was recorded in AEL Zambia, Standard Chartered Bank Limited, Real Estate Investments Zambia, Lafarge, Zanaco and CEC Zambia on the quoted tier. The LuSE All Share Index (LASI) maintained its close at 3,809.22 points, as there were no share price movements. The market closed on a capitalization of K57,090,342,990 including Shoprite Holdings and K22,851,137,010 excluding Shoprite Holdings.
Chart of the Day: