ZACCI DAILY BUSINESS NEWS THURSDAY AUGUST 06, 2020

FOREIGN EXCHANGE: ZMW:

BID OFFER
USD/ZMW 18.2387 18.2887
ZAR/ZMW 1.0599 1.0632
GBP/ZMW 23.9602 24.0332
EUR/ZMW 21.6603 21.7215 (BOZ)
ZAMBIA REVENUE AUTHORITY EXCHANGE RATES 01-15 AUGUST

US DOLLAR                  ZMW 18.2571 EURO                 ZMW 21.6810
SOUTH AFRICAN RAND ZMW   1.0906 BRITISH POUND  ZMW 23.9641
AGRICULTURE COMMODITY PRICES
GTAZ reference prices

Commodity Purchase(USD) Sell (USD)  
Soya beans 310         337
Wheat 425           445
Maize 143 171
Sun flower 265 300
Cowpeas 190 200
G/nuts shelled 828 994
Unshelled G/nuts
Rice

Source: Grain Traders Association of Zambia (GTAZ) Secretariat

INTERNATIONAL COMMODITY MARKETS

 COMMODITY CURRENT   PREVIOUS
Oil (BRENT) ($/barrel)  45.42   44.62
COPPER ($/ton)  6,525.50   6,440.00
COBALT ($/ton)  33,000.00   33,000.00
NICKEL ($/ton)  14,250.00   13,888.00
ALUMINIUM ($/ton)   1,709.50   1,709.50
LEAD ($/ton)   1,739.00    1,834.00
ZINC ($/ton)   2,370.00   2,304.00
STEEL ($/ton)     447.50    443.00
ZAMBIA ECONOMIC INDICATORS

CURRENT  PREVIOUS
Inflation (%) 16.6% (JUNE, 2020) 15.9% (MAY, 2020)
Annual GDP (%) 2.30% (2019)              3.0% (2018)  (BOZ)
Gross Reserves (US$ Billion) 1.45 1.41
BOZ Policy Rate (%) 9.25%  11.5%
 LOCAL BUSINESS NEWS

ZCF engages ZDA on cooperative stores formation

THE Zambia Cooperative Federation (ZCF) have engaged the Zambia Development Agency (ZDA) on the possibility of creating cooperative tors that will boost production of local goods.
Read more in daily mail

Cement price up by 20%

Commodity fetching between K118, K120 in Lusaka. Cement prices in the capital city have increased by an average of 20% and the rise has been attributed to the coronavirus.
Read more in daily mail

Huawei talks partnerships in expanding ICT

IN AN effort to provide cheap internet services, Huawei is ready to partner with mobile operators and regulators to expand information and communications technology (ICT) infrastructure in Zambia. Huawei Zambia public relations director Hansen He said cheap internet connectivity is possible with collective effort from all ICT players. Mr Hansen said in response to a query that affordable internet services should be accessed by all subscribers in the country. “It is also important to note the more a particular country invests in the expansion of ICT infrastructure and other technology-related solutions, the more it is highly likely to increase and afford cheap accessibility to any form of connectivity for its communities,” he said.
Read more
INTERNATIONAL BUSINESS NEWS

Goldman Warns Covid-19 Vaccine Approval Could Upend Markets

Investors should consider the risk of a successful coronavirus vaccine unsettling markets by sparking a sell-off in bonds and rotation out of technology into cyclical stocks, warned Goldman Sachs Group Inc. The increased probability of an approved vaccine by the end of November is underpriced by equity markets and by that time the result of the U.S. election will be known, wrote strategists including Kamakshya Trivedi in a note Wednesday. Investors will also know how the start of the school year will have impacted the spread of the coronavirus, they said. Approval of a vaccine could “challenge market assumptions both about cyclicality and about eternally negative real rates,” the team wrote, adding such a scenario may support steeper yield curves, traditional cyclicals and banks, while challenging the leadership of technology stocks.

 

 
 
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