Story of the Day:
In the fourth week of trading on the LuSE, nothing changes as the Corporate bond market maintains its dominance and remains prominent with only one more week left in the month of January 2020. Maintaining its core of 100%. Read more
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The largest by asset size and most profitable bank in Africa’s red metal hotspot Zambia, Stanbic has just set a new earnings high watermark level when it grew its FY19 after tax profit by an astronomical 95.7% margin to K449.3million. Read more: The Business Telegraph
Mines and Minerals Development Minister, Richard Musukwa announced that a company to explore oil in Gwembe has already been given an exploration license. Read more: Zambian Observer
The creation of Multi Facility Economic Zones in Zambia by Chinese entrepreneurs will play a role in the economic growth of Zambia, a government official said on Wednesday. Read more: Xinhua
Special Assistant to the President for Project Monitoring Andrew Chellah has brokered a deal were small scale gemstone miners will
get funding and equipment support from major gemstone miners in Lufwanyama. Read more: ZNBC
In a unique, intergenerational and gender business partnership, a 60 year old father and his 30 year old daughter have come up with a digital solution to youth unemployment. Read more: Lusaka Times
KPMG Featured Article
The introduction of Mobile Money Services by various mobile money service providers to customers has become a way of gaining competitive advantage through diversification, maintaining customer loyalty and increasing the market share in order to grow their profitability and improve their financial position. Read more
International Business and Finance Sponsored By Royal Air Charters
European lawmakers have voted through the U.K.‘s departure from the EU, paving the way for Brexit in two days’ time. Read more: CNBC
An acceleration in growth for Microsoft’s cloud business pushed revenues well ahead of expectations in the final quarter of last year, adding $50 billion to its market value in after-market trading on Wednesday. Read more: Financial Times
Shares in Facebook dropped by more than 7 per cent in after-hours trade on Wednesday, following the company posting its weakest pace of growth since going public as its business matures and privacy initiatives take hold. Read more: Financial Times
US President Donald Trump has formally signed a new trade pact with Mexico and Canada, bringing his campaign promise to replace the three countries’ existing deal closer to fruition. Read more: BBC News
Microsoft reported better-than-expected earnings and revenue for the three months ending in December, easily beating analysts’ estimates and sending its stock up 3% in after-hours trading Wednesday. Read more: CNN
Tesla said Wednesday that it turned a profit in the fourth quarter of 2019 and was ahead of schedule on its latest model, offering renewed confidence as it enters what could be a pivotal year. The electric-car maker reported $105 million in net income for the quarter. Read more: New York Times
The cost of the 737 Max crisis at Boeing has doubled to more than $18 billion, plunging the US aerospace giant into the red for the first time in over two decades. Read more: The Telegraph
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There were no trades recorded yesterday. The LuSE All Share Index (LASI) maintained its previous close of 4,255.55 points, as there were no share price movements. The market closed on a capitalization of K56,516,311,713 including Shoprite Holdings and K22,277,105,733 excluding Shoprite Holdings.
Chart of the Day: