Story of the Day:
In the first week of the month of February 20 bond trading, bonds of total face value of K107,998,000 were transacted in 31 trades, yielding a market value sales of K63,697,000. Tuesdays’ bond trading was the best performance of the week. The bond market continues to dominate the equities market, with the equities market continuous recording of meagre scores. Read more
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Germany has been urged to escalate agro business relations with Zambia to create jobs and reduce poverty, reveals honorary consul Victor Khune. Read more: Zambia Daily Mail
The securities regulator in Africa’s copper hotspot Zambia, on February 04, delegated regulatory status to the Capital Markets Association (CMA) by recognizing it as Self-Regulatory Organization (SRO). Read more: The Business Telegraph
The Centre for Trade Policy and Development (CTPD) has urged government to continue negotiations with creditors in the hope of securing a debt service standstill. CTPD Senior Researcher-Legal Chileshe Mange says this should be done whilst putting in place the necessary fundamentals for the economy to rebound. Read more: ZNBC
Energy Minister Matthew Nkhuwa has disclosed that the country is expected to complete the electricity cost-of-service study by March month end this year. He says the cost-of-service study will enable the country to establish cost reflective tariffs and help settle several disputes within the sector. Read more: ZNBC
International Business and Finance
African Development Bank (AfDB) President Akinwumi Adesina said he was optimistic about the outlook for Africa’s economic recovery despite the current challenges facing the continent, particularly the coronavirus pandemic. “There is a light at the end of the tunnel. I’m very positive that African economies will bounce back over the next two years,” he said.Read more: CGTN
Shares of Hyundai and Kia plunged on Monday after the South Korean automakers said they were not in talks with Apple to develop self-driving cars after all. “We are not having talks with Apple about developing self-driving cars,” Hyundai said in a statement. Read more: CNN
Tesla is betting big on bitcoin, saying it may soon accept the digital currency as payment for its cars. And the most valuable car company on the stock market said it is holding some of its cash in bitcoin rather than traditional currency. The price of bitcoin was up 12% in morning trading on the news. Shares of Tesla were up 2% in early trading. Read more: CNN
As Google prepares to return workers to offices in 2021, it is warning it may take a productivity and financial hit in the process, according to the company’s annual 10-K report. The company, known for its competitive, perks-fueled culture, employs 135,301 full-time workers and an equally large contingent workforce through third-party contracting firms. Read more: CNBC
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In 9 trades recorded yesterday, 71,200 shares were transacted yielding a market turnover of K86,740. A share price loss of K0.01 was recorded in Copperbelt Energy Corporation. Trading activity was also in Zambeef. The LuSE All Share Index (LASI) closed at 3,900.87 points, 0.10% down from its previous close of 3,904.59 points. The market closed on a capitalization of K57,303,522,488 including Shoprite Holdings and K23,069,751,302 excluding Shoprite Holdings.
Chart of the Day: