Story of the Day:
Listed tree processing company, ZAFICCO, has issued a statement to shareholders indicating that the company expects to record higher than expected earnings when it reports its half year performance for 2021, according to a statement from the company. Read more
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Following the August election, the new government of Zambia invited the International Monetary Fund (IMF) for a virtual staff visit to share their key policies and reform measures. The IMF team, led by Ms. Allison Holland, Mission Chief for Zambia, held virtual meetings from September 27 to October 1, 2021. Read more: IMF
Officials from Zambia’s Finance and National Planning Ministry on Monday held bilateral talks with officials from the European Union (EU) on enhancing development cooperation. Read more: China.org
The Italian government says it is working to create workshops for small and medium enterprises that will allow more Italian companies to come to Zambia to stimulate innovation. Read more: ZNBC
The Auditor General’s on the Accounts of Parastatal Bodies and other Statutory Institutions for the financial year ended 31st December 2019 has revealed that Zesco Limited owed local and cross border power suppliers in amounts totalling $797,902,517.54 as at 31st December 2020. Read more: News Diggers
International Business and Finance
African airlines are set to see a slight improvement in their financial performances in 2022 from 2021, as countries continue to vaccinate their populations and open up their economies. According to the International Air Transport Association (IATA), African carriers will recover from a 1.9 billion U.S. dollar loss in 2021 to a 1.5 billion in 2022. Read more: CGTN
Shares in Evergrande were suspended Monday amid reports that a rival Chinese real estate developer was preparing to buy its property management business — a move that could inject much needed cash into the ailing conglomerate. Read more: CNN
Facebook is continuing to battle US regulators that are calling for the company to be broken up, this time asking a court to dismiss an amended antitrust complaint against it filed by the Federal Trade Commission. Read more: CNN
Stock futures were muted in overnight trading on Monday following a tech-led sell-off as investors continued to dump high-flying shares in the face of rising rates. Futures on the Dow Jones Industrial Average slipped 30 points. S&P 500 futures were little changed while Nasdaq 100 futures traded in mildly positive territory. Read more: CNBC
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In 10 trades recorded yesterday, 2,451 shares were transacted resulting in a turnover of K20,863.11. Trading activity was recorded in Lafarge, Pamodzi and Puma. The LuSE All Share Index (LASI) remained at 4,978.43 points, with a percentage change of 0.92.
Chart of the Day: