The increase represents 23% spike. As Zambia seek to boost its foreign reserves through gold storage, bullion price on the international market has risen by 5.01 percent to US$1,891 per ounce from last week’s US$1,800.
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Contractors gear up for Kariba Dam rehab
GE Hydro France with Freyssinet International, a foreign contracor engaged to refurbish the spillway gate a Kariba Dam, is putting up a construction site and fabricated electro-mechanical equipment in readiness for he rehabilitation of spillway gates.
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TIYE Enterprises scouts for factory funds
TIYE Social Business Enterprises is scouting for US$350,000 to set up a leather factory to process products for both local and international markets. Once established, the factory will produce goods such as wallets, shoes, handbags, hats, jackets, belts, sandals and carpets, among others. It is targeting the Democratic Republic of Congo, Angola and Malawi for its export markets. Company chief executive officer Angela Mulenga is confident that once fully operational, the factory will create over 10,000 jobs in the next three years.
Futures, Stocks Pare Gains; Gold Rally Cools: Markets Wrap
U.S. and European futures pared gains with Asian stocks on Tuesday as caution returned after the rally in gold cooled. The dollar narrowed losses after falling to a 22-month low. Asian shares began the day on the front foot on expectations the Federal Reserve will reinforce its dovish message this week and as U.S. stimulus talks got underway. Japanese and Australian shares later fell, with stocks in Hong Kong and China logging modest gains. S&P 500 futures fluctuated after the benchmark erased last week’s drop Monday. European futures erased an advance and Treasuries dipped.
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