Authority impound alcohol declared as steel. Zambia Revenue Authority (ZRA) and Zambia Police Service Officer on Monday evening fought running battles with smugglers who wanted to assist a driver whose truck was impounded for carrying alcoholic beverages which were declared as steel.
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BoZ bond auctio attracts K1.09bn
Last week’ Bank of Zambia (BoZ) bond auction was marginally under-subscribed attracting bids amounting to K1.09 billion against an offer of K1.5 billion. This means that there was lees demand for financial securities below the total initial target that was offered.
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State engages Spar on smooth exit
Government has engaged Spar Zambia and other potential investors to explore corporate finance strategies on how to manage a smooth exit from the local market. Spar Zambia Limited recently closed its retail outlets across the country after operating in Zambia for over 16 years.
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INTERNATIONAL BUSINESS NEWS
Stocks Mixed Before Fed; Treasuries Keep Advance: Markets Wrap
Asian stocks struggled for a clear direction on Wednesday as investors awaited the conclusion of the Federal Reserve’s policy meeting. Treasuries held overnight gains and the dollar steadied. Shares slipped in Japan, where Fitch Ratings lowered its outlook on the country’s debt and earnings at Canon Inc. disappointed. Stocks saw modest gains in Hong Kong and South Korea, and outperformed in China on low volumes. S&P 500 futures fluctuated after the benchmark closed lower, with worse-than-estimated results from the likes of McDonald’s Corp. and 3M Co. weighing on shares. Gold slipped toward $1,950 an ounce.
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