Story of the Day:
In the first week of February 2020, trading on the LuSE. We see the continuance pattern between the bond market and the equities market, as nothing changes in comparison to the first week of January. With the bond market scoring 100% of the sales in the Zambian capital market. Read more
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The cost of living as measured by the Jesuits Centre for Theological Reflections Basic Needs and Nutrition Basket for the month of January 2020 has increased to K7,410.96 for a family of five compared to K5,395.35 in January 2019. Read more: Zambia Reports
Zambia’s copper production, which stands at 723,000 tonnes per annum, is expected to increase with the coming on stream of new mining projects, Ministry of Mines and Mineral Development director of mining Fred Banda has said. Mr Banda said the US$30 million Sino Kasempa, which will start operating in the second quarter of this year, is expected to produce 25,000 tonnes annually in the first phase. Read more: Zambia Daily Mail
Farmers need to consider investing in renewable energy to help reduce the cost of production and mitigate effects of climate change, JK Biotech director John Kaponde has said. Read more: Zambia Daily Mail
The Pensions and Insurance Authority – PIA has disclosed that the authority anticipates to raise about K1.3 million (about US$93,000) from the disposal of Focus Life Assurance assets and a further K332,000 (about US$24,000) from the disposal of A-Plus Life Assurance assets. Read more: Zambian Business Times
The Economics Association of Zambia (EAZ) will this May host the Zambia Wakanda One Diaspora Summit whose aim is to boost diaspora investment into Zambia. Read more: ZNBC
Zambia National Marketeers Credit Association (ZANAMACA) has urged the Corporate world to supplement Government’s efforts in the construction of markets across the country. Read more: ZNBC
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The 2020 national budget aims, in the face of the cataloged challenges that the country is going through, to stimulate the domestic economy. Read more
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President Trump released a $4.8 trillion budget proposal on Monday that includes a familiar list of deep cuts to student loan assistance, affordable housing efforts, food stamps and Medicaid, reflecting Mr. Trump’s election-year effort to continue shrinking the federal safety net. Read more: New York Times
The government has told businesses frictionless trade with the EU will end this year with the introduction of import checks at the UK border. EU trade will not be waved through with zero checks which had been the plan under a no-deal Brexit. Read more: BBC News
The World Bank is offering technical assistance to China to help battle the coronavirus epidemic but no new loans, the development lender’s president, David Malpass, said on Monday. Read more: CNBC
Eskom’s urgent bid for larger electricity tariff increases was rejected by the Pretoria High Court on Monday, in a fresh setback for the cash-strapped South African power utility. Read more: Reuters
Amazon has asked a federal court for permission to get testimony from President Donald Trump and Defense Secretary Mark Esper as part of its ongoing protest over the Defense Department’s handling of a multibillion-dollar cloud computing contract, according to a court filing unsealed Monday. Read more: CNN
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In 4 trades recorded yesterday, 1,201,500 shares were transacted, yielding a market turnover of K602,212. A share price gain of K0.01 was recorded in Copperbelt Energy Corporation. Trading activity was also recorded in Lafarge and Zanaco. The LuSE All Share Index (LASI) closed at 4,258.14 points 0.09% up from its previous close of 4,254.23 points. The market closed on a capitalization of K56,529,102,118 including Shoprite Holdings and K22,289,896,138 excluding Shoprite Holdings.
Chart of the Day: