Story of the Day:
Royal Zambian Airlines was officially incorporated in May of 2020, and now prepares to embark on its maiden voyage to Johannesburg, South Africa, on the 17th of December 2020. Read more
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Zambian authorities formally requested a financing arrangement from the International Monetary Fund (IMF), the Fund said on Tuesday, to help the southern African copper producer navigate a debt crisis. Read more: Reuters
Companies listed on the Lusaka Securities Exchange (LuSE) last week recorded a significant increase in overall turnover of K11.3 million from K2.8 million due to improved market activity. Of the overall turnover, Copperbelt Energy Corporation (CEC) accounted for a bulk of over K10.9 million while the rest was shared by seven companies that participated in 85 trades on the local bourse. Read more: Zambia Daily Mail
Ten small and medium-scale enterprises (SMEs) have been placed in a K34 million interest package under the Development Bank of Zambia (DBZ) coronavirus relief aimed at mitigating the impact of the pandemic on businesses. Read more: Zambia Daily Mail
The worlds largest law firm, Dentons, has successfully penetrated the Zambian market through combining with top legal firm Eric Silwamba Jalasi and Linyama legal practitioners. This is part of an aggressive strategy to increase its global footprint evidenced by the 25 new offices it has opened in 2020. This combination now makes Dentons Eric Silwamba Jalasi and Linyama legal practitioners the largest law firm in Zambia. Read more: The Business Telegraph
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Tesla on Tuesday unveiled a plan to raise $5 billion, its second such move in three months as the electric car maker cashes in on a meteoric rally in its shares this year. The additional shares will be sold “from time to time” and “at-the-market” prices. Read more: CNBC
South Africa’s gross domestic product saw an expected surge in growth between July and September this year. The country’s annual figures rose by 66.1 percent after the Covid-19 restrictions were uplifted. Read more: Ghana Web
Singapore’s economy is expected to contract this year at the same pace as a prior survey’s prediction, as faster growth in manufacturing and slower contraction in areas such as accommodation and food services offset steeper declines in construction and private consumption, a central bank survey showed Wednesday. Gross domestic product is expected to shrink 6.0% in 2020. Read more: Market Watch
Kenya Airways (KQ) through its cargo arm KQ Cargo, has unveiled an ultra-modern pharma facility at the Jomo Kenyatta International Airport (JKIA), to help meet the demand for medical shipments around the world. Read more: CGTN
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In 121 trades recorded yesterday, 1,185,403 shares were transacted yielding a market turnover of K1,225,281. A share price gain of K0.03 was recorded in Copperbelt Energy Corporation. Trading activity was also recorded in CCHZ. The LuSE All Share Index (LASI) closed at 3,855.85 points, 0.29% up from its previous close of 3,844.68 points. The market closed on a capitalization of K57,261,636,946 including Shoprite Holdings and K23,022,430,966 excluding Shoprite Holdings
Chart of the Day:
