Story of the Day:
Zambian commercial bank Cavmont Capital has announced the appointment of Christiaan Petrus De Vries to its effective 5th November 2019, according to a statement from the bank. Read more
Local Business and Finance
Parliament has approved the K106 billion 2020 National Budget and adjourned Sine die. Read more: ZNBC
Government through the Industrial Development Corporation (IDC) and three other shareholders of Indo Zambia Bank have for the first time in 35 years signed a shareholders agreement that will further stimulate growth for the financial institution. Read more: ZNBC
The Mineworkers Union of Zambia (MUZ) has appealed to government to increase its shareholding in the mines. Read more: Zambia Reports
The Zambian government was considering marketing of the dormant coffee plantation to foreign investors that includes Chinese to help revive the coffee growing in Zambia’s Copperbelt region, a government official said on Tuesday. Read more: News Ghana
International Business and Finance
The Bank of England has launched one of the most ambitious attempts to date to quantify the risk that climate change poses to the financial system. Read more: BBC News
Boeing’s 737 Max crisis will weigh on the United States’ GDP growth, decreasing it by about 0.6% in 2020, according to JP Morgan. Read more: CNN
The first-stage trade pact reached by the U.S. and China last week could be a boon to American farmers hard hit by the trade war, but the agricultural sector’s relief over a deal is being tempered by skepticism over the ambitious targets set by U.S. negotiators. Read more: Wall Street Journal
Budget deficits that are projected to rise for years are straining the plumbing of the U.S. financial system, making it harder for the Fed to manage interest rates. Read more: Wall Street Journal
Tesla Inc. stock soared to a closing record Wednesday, the culmination of a late-year rally that started in October when the Silicon Valley car maker surprised investors by showing a profit for its third quarter. Read more: Market Watch
Capital Markets Report
In 5 trades recorded yesterday, 714 shares were transacted, resulting in a market turnover of K893. Trading activity was recorded in Copperbelt Energy Corporation. The LuSE All Share Index (LASI) maintained its previous close of 4,250.62 as there were no share price movements. The market remained on a capitalization of K56,497,805,422 including Shoprite Holdings and K22,258,599,442 excluding Shoprite Holdings.
Chart of the day: