Story of the Day:
The second beverage manufacturing company listed on the Lusaka Securities and Exchange (LuSE) has recorded a 6% increase in volume of products sold in the financial year ending March 2021, according to published financials from National Breweries Plc. Read more
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The southern Africa region received a boost to its trade, tourism and investment aspirations after Qatar Airways, one of the world’s leading airlines, made its inaugural flights to Zambia and Zimbabwe. The flights touched down on Friday, first at the Kenneth Kaunda International Airport (KKIA) in Lusaka, followed by the Robert Gabriel Mugabe International Airport in Harare. Read more: CGTN
Civil Service Commission Vice Chairperson, Hillary Chipango says government has extended the debt swap to workers in the local authorities to relieve them from financial pressure. Mr. Chipango says the technical committee after further deliberations decided that workers from local authorities also be brought on board. Read more: ZNBC
The Zambia Airways Board has set September 30, 2021 as the date for commercial operationalization of the National Airline. Zambia Airways Board Chairman Bonaventure Mutale explains that the Airline will start with two or three aircraft’s which will be operating locally and internationally. Read more: ZNBC
As a way of promoting the culture of saving, the National Assembly of Zambia has launched the Savings and Credit Cooperative Society Limited (SACCO). The National Assembly of Zambia SACCO (NAZSACCO) will encourage savings, use pooled funds to give loans to staff at reasonable interest rates and will providing related financial services. Read more: Zambia Daily Mail
Government has not paid over $100 million to Avic International, the contractor constructing the new Simon Mwansa Kapwepwe International Airport. Speaking during the commissioning of the new Simon Mwana Kapwepwe International Airport by President Edgar Lungu in Ndola yesterday, Avic representative Lei Yingqi disclosed that the construction firm is using borrowed funds with high interest to ensure works progress and employees are paid. Read more: Zambian Observer
International Business and Finance
US job openings hit a fresh record in June amid reports the country continues to face a labour shortage. Job vacancies jumped by 590,000 to 10.1 million on the last day of the month, according to figures from the Labor Department. That was up from a record 9.5 million openings in May and well above economists’ expectations. Read more: BBC News
U.S. stock futures were little changed on Monday night after the Dow Jones Industrial Average and S&P 500 fell from record highs in regular trading amid concerns about a resurgence in Covid-19 cases. Dow Jones Industrial Average futures rose 22 points, or 0.04%. S&P 500 futures ticked up 0.01% and Nasdaq 100 futures slid 0.03%. Read more: CNBC
The pan-European Stoxx 600 climbed 0.2% in early trade, with travel and leisure stocks adding 0.7% to lead gains while banks slipped 0.3% lower. The cautious optimism in Europe reflects similar sentiment emerging in Asia-Pacific, where shares tentatively rose in Tuesday trade while South Korean game developer Krafton plunged in its debut. Read more: CNBC
Two Federal Reserve officials said on Monday that the U.S. economy is growing rapidly and that while the labor market still has room for improvement, inflation is already at a level that could satisfy one leg of a key test for the beginning of interest rate hikes. Read more: Reuters
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In 20 trades recorded yesterday, 11,615 shares were transacted resulting in a turnover of K23,465. Share price gains were recorded in Copperbelt Energy Corporation of K0.05, in Standard Chartered Zambia of K0.01 and in Zanaco of K0.04. Trading activity was also recorded in Airtel, First Quantum Minerals, Lafarge and Pamodzi. The LuSE All Share Index (LASI) closed at 4,659.49 points, 0.77% up from its previous close of 4,623.82 points. The market closed on a capitalization of K61,076,178,097 including Shoprite Holdings and K26,293,492,657 excluding Shoprite Holdings.
Chart of the Day: