Story of the Day:
In the bid to achieve the 2030 agenda, the Zambian government has overwhelmingly, welcomed the 160 million euros worth in funding from the Dutch Government through Dutch Fund for Climate and Development (DFCD) working with the private sector to catalyse over 500 million euros in additional funding for sustainable bankable projects across the world. Read more
Local Business and Finance
The mining sector has this year produced 667,173 tonnes of copper compared with 741,560 tonnes produced in 2018. Read more: Zambia Daily Mail
In an effort to enhance financial inclusion, the Zambia Information and Communications Technology Authority (ZICTA) has been advised to address regulatory impediments choking the growth of digital financial services. Read more: Zambia Daily Mail
Government says it is reconsidering importing more power from South Africa’s Eskom Company because of the promising rain pattern. Read more: Zambian Observer
The cost of living for a family of five in Lusaka has gone up by over K140 to K6, 418.17 in November from K6, 338.79 in October. Read more: Zambia Reports
Zambia’s staple food, mealie meal, is now fetching K200 for a 25kg in some places, reports. Read more: Zambian Observer
International Business and Finance
Shares in Saudi Aramco surged 10 percent as the world’s largest oil producer began trading in its home country on Wednesday, following its record initial public offering (IPO). The state-controlled oil giant’s shares opened at 35.2 riyals ($9.39) on Wednesday, 10 percent above their IPO price of 32 riyals to give it a market value of $1.88 trillion. Read more: Al Jazeera
The Federal Reserve held interest rates steady following its two-day meeting this week and indicated that no action is likely next year amid persistently low inflation. Read more: Investment News
The Boeing 737 Max will not be approved to fly again before the end of this year, according to the head of the Federal Aviation Administration. Read more: CNN
Post-Brexit trade deals will not make up for the economic damage inflicted on the UK from leaving the EU, analysis for BBC Newsnight has suggested. Read more: BBC News
South Africa’s state utility Eskom will work to stabilise the national power grid by the end of March in the wake of the country’s most severe blackouts in a decade, President Cyril Ramaphosa said on Wednesday. Read more: Reuters
Telefonica Deutschland, one of Germany’s top mobile carriers, has picked Huawei and Nokia to build out its 5G network. The move is a potential snub to the U.S. government which has been campaigning for its allies to keep the Chinese telecoms equipment giant out of 5G networks. Read more: CNBC
Capital Markets Report
In 7 trades recorded yesterday, 4,543 shares were transacted, resulting in a market turnover of K65,793. Trading activity was recorded in Zambia Breweries, AEL Zambia, Zanaco and Zambeef. The LuSE All Share Index (LASI) maintained its close of 4,269.90 points. The market closed on a capitalization of this K56,532,725,628 including Shoprite Holdings and K22,293,519,648 excluding Shoprite Holdings.
Chart of the Day: