Story of the Day:
The listed Standard Chartered Bank Zambia Plc has advised shareholders that it expects an improvement in earnings, compared to the same period last year, when it reports its half year results for 2021, according to a statement from the Bank. Read more
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Exactly 13 months after being laid off as central bank governor, Dr. Denny Kalyalya has bounced back as monetary policy head at the Bank of Zambia (BOZ). This follows a press release from state house confirming his appointment on September 27. Read more: The Business Telegraph
The price of Copper on the London Metal Exchange has risen from 8,975 dollars per tonne to 9,332 dollars a tonne in the last three trading days. The price of copper sharply declined from a high of 9,700 dollars on September 13th, 2021 to a low of 8,975 dollars per tonne on September 21, 2021. Read more: The Independent Observer
Green Economy and Environment Minister Collins Nzovu says the creation of the ministry will ensure the preservation of green growth while addressing social and economic development. Read more: ZNBC
The National Health Insurance Management Authority (NHIMA) has signed a partnership with Atlas Mara Bank to use its digital platforms for contributions. NHIMA Director General James Kapesa says the e-NHIMA platform has been developed for quality digital service delivery. Read more: ZNBC
International Business and Finance
Egypt, Nigeria, Kenya and South Africa accounted for more than a third of the incubators and accelerators and 80 per cent of investment in Africa. Egypt, Nigeria, and South Africa were also among the top three countries that attracted the highest foreign direct investment in the past 10 years. Read more: Business Insider
Goldman Sachs has become the latest banking giant to cut its growth forecast for China, as the country struggles with energy shortages. It now expects the world’s second largest economy to expand by 7.8% this year, down from its previous prediction of 8.2%. Read more: BBC News
Afghanistan’s banking system is near to collapse, the boss of one of the nation’s biggest lenders has told the BBC. Syed Moosa Kaleem Al-Falahi, the Chief Executive of the Islamic Bank of Afghanistan, said the country’s financial industry is in the grip of an “existential crisis” as customers panic. Read more: BBC News
Ford Motor Co. and South Korea-based energy company SK Innovations are investing $11.4 billion to build two new enormous manufacturing campuses for electric vehicles, creating more than 10,000 new jobs and representing Ford’s largest-ever single manufacturing investment in the company’s 118-year history. Ford’s share of the investment will be $7 billion, Ford executives said. Read more: CNN
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In 22 trades recorded yesterday, 351,543 shares were transacted resulting in a turnover of K6,215,829. Trading activity was recorded in PUMA, SHOP, ZAMEFA, and Zambia Sugar. The LuSE All Share Index (LASI) maintained its close at 4,895.54 points, as there were no share price movements.