Story of the Day:
Gratuity: Protection of workers or killer of business in Zambia. Read more
Local Business and Finance
Waning sentiment in Zambia is eclipsing the autopsy effects of the central banks monetary policy sterilization measures. Read more: The Business Telegraph
Zambia’s Konkola Copper Mines (KCM) smelter could restart next week after a delay of around a fortnight, mines minister Richard Masukwa told Reuters. Read more: Reuters
President Edgar Lungu on Tuesday said his two-day working visit to the United Arab Emirates will result in tangible benefits for Zambia. Read more: Xinhua
Government has with immediate effect dissolved the Zambia Information and Communications Authority (ZICTA) and ZAMPOST Boards. Read more: ZNBC
Minister of Mines and Mineral Development Richard Musukwa on Monday addressed Europe’s largest Mining Investment event, and invited investors to take advantage of the stable polices and vast mineral resource potential in Zambia. Read more: Lusaka Times
World Bank senior private sector specialist Ellen Olafsen says strong partnerships with the private sector in improving technology are essential in helping Zambia achieve a digital economy. Read more: Zambia Daily Mail
Zambia needs to focus on industrialisation, economic diversification and education to overcome economic problems, French Ambassador to Zambia Sylvain Berger has said. Read more: Zambia Daily Mail
Zambia Chamber of Mines president Goodwell Mateyo says Zambia’s reduced copper export earnings as recorded by the Bank of Zambia (BoZ) is as a result of government’s excessive taxation on mining companies. Read more: News Diggers
International Business and Finance
China raised $6 billion in its biggest ever international sovereign bond sale on Tuesday, as it pounced on the year’s sharp dive in borrowing costs. Read more: CNBC
German carmaker Audi has revealed it will cut 9,500 of its 61,000 jobs in Germany by 2025 to free up funds to invest in electric vehicles. Read more: Forbes
The price of bitcoin has fallen to a six-month low following the second major crash in the space of just three days. The latest dip in value took bitcoin below $7,000, wiping nearly $20 billion from its overall market capitalisation since this time last week. Read more: The Independent
UK car production could be cut by more than a third if the UK withdraws from the EU without an “ambitious” trade deal, an industry body has warned. Analysis commissioned by the Society of Motor Manufacturers and Traders (SMMT) predicts that falling back on World Trade Organisation (WTO) rules would add £3.2bn a year to car making costs. Read more: BBC News
For years, Google was seen as the gold standard of office life. But it’s now developing a very different reputation as it confronts a mounting backlash from its own employees. Google’s internal critics have targeted a growing list of concerns in recent years, ranging from its handling of sexual misconduct allegations to its business dealings with the military. Workers have also questioned Google over a secret project, now shuttered, to develop a search engine built to satisfy China’s censorship regime. Read more: CNN
Huawei CEO and founder Ren Zhengfei believes his company can still become the world’s top smartphone brand, even if it remains cut off from Google’s software and apps. Read more: CNN
Capital Markets Report
In 11 trades recorded yesterday, 26,452 shares were transacted, resulting in a market turnover of K5,262. Trading activity was recorded in Copperbelt Energy Corporation, Standard Chartered Bank Limited and CEC Africa on the quoted tier. The LuSE All Share Index (LASI) maintained its previous close of 4,259.50 points. The market remained on a capitalization of K56,534,726,027 including Shoprite Holdings and K22,295,520,047 excluding Shoprite Holdings.
Chart of the Day:
