Story of the Day
In the penultimate week of trading in September, a turnover of K20 million was recorded in the Zambian capital markets. 94% of that turnover was on the corporate bond market with the balance on the equities market. Read more
Local Business and Finance
Zesco has announced that it will effect a 200 percent tariff hike with effect from October 1, 2019. The increment according to Director of Strategy Patrick Mwila has been necessitated by the finalization of the importation of electricity from Eskom for six months. Read more: Zambia Reports
France’s largest fresh produce market Rungis has pledged to work with the Paris Mission to foster partnership cooperation with Lusaka City Council (LCC) and Local Farmers in Zambia. Read more: Lusaka Times
Trade relations and cooperation between Zimbabwe’s Mashonaland West province and the Southern Province of Zambia are set to deepen following the signing of a twinning Memorandum of Understanding. Read more: The Herald
WITH consistent power supply to the mines, Zambia Chamber of Mines (ZCM) envisages annual copper production to go to around 850,000 metric tonnes this year. Read more: Zambia Daily Mail
Consumers and retailers have expressed fear that the cost of mealie meal is likely to skyrocket following the hike in fuel prices. Some traders states that the cost of production which is already high will further shoot up. Read more: Zambian Observer
Vice President Inonge Wina has held talks with India’s Shree Vagmi Cotton Limited, which will invest US $7 million in the next three years to build a factory that would process cotton lint in 2019 alone. Read more: The Independent Observer
International Business and Finance
Families who lost relatives in fatal Boeing 737 Max air crashes are set to receive about $144,500 each from the company. Read more: BBC News
The head of China’s central bank said that the country’s interest rates were appropriate and that it wouldn’t aggressively ease monetary policy, even as other central banks lower borrowing rates in a bid to spur growth. Read more: Wall Street Journal
London transport authorities on Tuesday gave Uber just two months to continue operating in the city rather than the full five-year license the ride-hailing company had sought. Read more: New York Times
Chinese government officials are to be sent to work inside 100 private companies such as Alibaba, working in the tech hub of Hangzhou, in an attempt to boost manufacturing and bolster the local economy. Read more: CNBC
The dollar fell against a basket of currencies on Tuesday after data showed in U.S. consumer confidence fell in September, raising worries about the strength of the U.S. economy. Read more: Reuters
U.S. President Donald Trump on Tuesday called on nations around the globe to embrace nationalism and reject globalism, saying wise leaders put their own people and countries first. Read more: Reuters
Capital Markets Report
In 29 trades recorded yesterday, 1,910 shares were transacted, yielding a market turnover of K2,524. Trading activity was recorded in Copperbelt Energy Corporation and Standard Chartered Bank Limited. The LuSE All Share Index (LASI) maintained its previous close of 4,371.04 point as there were no price movements. The market remained on a capitalization of K56,998,673,690.57 including Shoprite Holdings and K22,759,467,710.57 excluding Shoprite Holdings.
Chart of the Day: