Story of the Day:
Two weeks into January 2021 trading on the LuSE, six companies’ securities recorded trades of which Tuesday was the best performing for the week only three days recorded trades. Read more
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President Edgar Lungu has said that the government will not shut down the economy as a way of fighting the pandemic. The President said that in the past some countries have shut down their economies and imposed curfews but this has not worked. Read more: Lusaka Times
The Bank of Zambia (BoZ) has ordered a top Zimbabwean banker George Manyere to exit from both controlling shareholding and directorship in the fintech company MyBucks after violating banking rules. Read more: Lusaka Times
Zambian businesses’ access to the United States (US) will be accelerated following the signing of a pact between the Zambia Chamber of Commerce and Industry (ZACCI) and the US-Africa Trade Council aimed at advancing trade and investment. Read more: Zambia Daily Mail
The Bankers Association of Zambia (BAZ) says the loan books across the banking sector remained flat last year owing to increased credit risks. BAZ Chief Executive Officer Leonard Mwanza has attributed this to the poor performance of the economy and outbreak of the Covid-19 pandemic. Mr. Mwanza says the credit risk across the industry remained high. Read more: ZNBC
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Singapore’s exports grew by 6.8 per cent year-on-year in December, the first expansion in two months and the latest signal that its economy is recovering after losses inflicted by the coronavirus pandemic and related curbs. Read more: News Ghana
WhatsApp has delayed a privacy policy update that caused confusion and backlash among users over fears it could mean broader data sharing with the messaging app’s owner Facebook. Read more: CNBC
Wall Street may be facing an uncomfortable four years after President-elect Joe Biden’s team confirmed on Monday it planned to nominate two consumer champions to lead top financial agencies, signaling a tougher stance on the industry than many had anticipated. Read more: Reuters
The head of the International Monetary Fund on Monday said the global lender needed more resources to help heavily indebted countries, citing a highly uncertain global economic outlook and a growing divergence between rich and poor countries. Read more: Reuters
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In 1 trade recorded yesterday, 300 shares were transacted yielding a market turnover of K420. Trading activity was recorded in Standard Chartered Zambia. The LuSE All Share Index (LASI) maintained its close at 3,912.33 points, as there were no share price movements. The market closed on a capitalization of K57,358,966,682 including Shoprite Holdings and K23,119,760,702 excluding Shoprite Holdings.
Chart of the Day: