Major International Business Headlines Brief::: 10 August 2018

Bulls n Bears bulls at bulls.co.zw
Fri Aug 10 10:36:19 CAT 2018




 

	
 


 

 <http://www.bulls.co.zw/> Bulls.co.zw        <mailto:bulls at bulls.co.zw>
Views & Comments        <http://www.bulls.co.zw/blog> Bullish Thoughts
<http://www.twitter.com/BullsBears2010> Twitter
<https://www.facebook.com/BullsBearsZimbabwe> Facebook
<http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn
<mailto:info at bulls.co.zw?subject=Unsubscribe> Unsubscribe

 


 

 


Major International Business Headlines Brief::: 10 August 2018

 


 

 


 <http://www.nedbank.co.zw/> 

 


 

 


 

 

*  Egypt's annual urban consumer price inflation falls to 13.5 pct in July

*  Randgold's Q2 profit, output inch higher

*  Nigeria's Notore drops 8.8 pct in one week after debut listing

*  Nigerian stocks drop to 9-month low on mixed earnings, political risk

*  Vedanta's suspends operations at Zambian unit after worker killed in
accident

*  Sonatrach in talks with 14 foreign firms on trading venture -CEO

*  Randgold expects full production at Tongon mine in mid-August

*  Tunisia's tourism revenues jump by 42 percent until July 31

*  Uber rival Taxify bets on motorcycles and rickshaws in East Africa

*  South Africa's Eskom reaches "in principle" wage deal with unions

*  Ryanair strike: One in six flights cancelled in pilot walkout

*  Immigration: Scrap targets after Brexit, CBI urges

*  Japan's economy rebounds in the second quarter

*  House of Fraser calls in administrators

*  Apple removes 'wrong apps' in gambling purge

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

Egypt's annual urban consumer price inflation falls to 13.5 pct in July

CAIRO (Reuters) - Egypt’s urban consumer price inflation fell to an annual
13.5 percent in July from 14.4 percent in June, the official statistics
agency CAPMAS said on Thursday.

 

Prices had soared after the import-dependent country floated its currency in
November 2016, reaching a record 33 percent in July 2017. Inflation rates
have since gradually eased, reaching their lowest levels in almost two years
in March.

 

But in June, annual urban consumer inflation surged to 14.4 percent, as cuts
to energy subsidies imposed under an International Monetary Fund loan
agreement hit the economy more than expected.

 

“We expected the hike to be fully apparent in June and the reduced spending
levels would let the impact fade away in July,” said Alia Mamdouh, lead
economist at Beltone Financial.

 

Egypt has raised fuel, electricity and transportation prices over the past
months to help meet the terms of the $12 billion IMF loan programme it
agreed to in late 2016. The programme calls for tax increases and deep cuts
to energy subsidies.

 

 

 

 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

Randgold's Q2 profit, output inch higher

LONDON (Reuters) - African miner Randgold Resources maintained its 2018
targets on Thursday after it reported a rise in second-quarter profit and
production, citing a good performance at its Kibali mine in the Democratic
Republic of Congo.

 

In the three months to June 30, production rose 9 percent compared to the
previous quarter to 313,302 ounces of gold while profit from mining
increased by 6 percent, the London-listed miner said in a statement.

 

Randgold maintained its annual targets of gold production reaching between
1.3-1.35 million ounces at a cost of between $590-$640 per ounce.

 

A strike at Randgold’s Tongon mine in Ivory Coast, which started on July 13,
has crippled production and followed similar stoppages at the operation
earlier this year.

 

“The Tongon work stoppage is obviously a challenge, but we take comfort from
the government’s leadership in ensuring measures are taken to protect the
assets and that they are dealing with the situation,” Chief Executive Mark
Bristow said.

 

He said Randgold was still assessing the strike’s impact but that annual
targets for the group were maintained due to a strong performance at the
Kibali mine.

 

Tongon, which accounted for 22 percent of Randgold’s 2017 total production,
recorded a 12 percent increase in output in the second quarter but its 2018
target was lowered to 250,000 ounces from 290,000 ounces previously.

 

 

Nigeria's Notore drops 8.8 pct in one week after debut listing

LAGOS (Reuters) - Nigeria’s Notore Chemical shares dropped to 57 naira each
in Thursday’s session, losing 8.8 percent in a week after its debut stock
market listing in Lagos.

 

The stock quickly rose to 62.50 naira, its listing price, on thin volumes.

 

The fertiliser company on Thursday said loss before tax for the nine-month
widened to 3.94 billion naira.

 

 

Nigerian stocks drop to 9-month low on mixed earnings, political risk

LAGOS (Reuters) - Nigerian stocks dropped to a more than nine-month low on
Thursday, hurt by mixed second-quarter earnings and worries about political
risk in the run-up to next year’s presidential election.

 

The stock index fell for the fifth straight session, down 0.4 percent to
36,154 points. Stocks have fallen 5.1 percent so far this year, after
climbing 42 percent last year.

 

Second-quarter earnings have been mixed, with most lenders posting declines
in loan growth, citing a weak economy, while several consumer goods
companies have recorded lower profits.

 

Newly-listed fertiliser firm Notore reported a wider loss before taxes for
the nine-months to June. Its shares have dropped 8.8 percent in the week
after listing.

 

Political developments ahead of an election next year, in which President
Muhammadu Buhari is seeking re-election, have also dented investor
sentiment, analysts say.

 

“Recent declines have been concentrated on a few large-cap stocks. Pressure
on Nigerian Breweries may be on the back of slightly disappointing H1’18
earnings, but Dangote Cement numbers were in line with expectations,” said
Michael Famoroti, chief economist at Vetiva Capital.

 

Last week, Senate President Bukola Saraki, Nigeria’s third most senior
elected official, defected from Buhari’s ruling party to the main opposition
and is fast becoming a leading critic of the president.

 

Top decliners were FBN Holdings, Fidelity Bank Transcorp, Diamond Bank and
FCMB, all down more than 4 percent. Nigerian Breweries, the local unit of
Dutch brewer Heineken, shed 2.9 percent.

 

 

Vedanta's suspends operations at Zambian unit after worker killed in
accident

LUSAKA (Reuters) - Vedanta Resources’ Zambian unit said on Thursday work at
its Konkola Copper Mine was stopped after one miner was killed in an
underground accident to allow for investigations into the incident, the
company said. In July production was halted at the same shaft, shaft 4,
after a miner died in an accident. Vedanta said in June it planned to double
copper production at Konkola to 200,000 tonnes in 2019.

 

 

Sonatrach in talks with 14 foreign firms on trading venture -CEO

BEJAIA, Algeria (Reuters) - Algerian state energy firm Sonatrach is in talks
with 14 international firms for a joint venture to trade oil and gas
products after agreeing to buy its first overseas refinery, its CEO said on
Thursday.

 

“I am happy to say that 14 firms are on the list to do a JV on trading with
us,” Abdelmoumen Ould Kaddour told reporters during a visit to the port city
of Bejaia, without giving details or names.

 

The trading JV will also include gas sales.

 

Potential partners, which have held talks with Sonatrach in recent weeks,
include BP, Total, Royal Dutch Shell, Chevron, Repsol and Vitol, the world’s
biggest independent oil trader, sources told Reuters last month.

 

Sonatrach’s move to form a venture is one of several steps aimed at easing
the burden of its hefty fuel import bill that tripled year-on-year in 2017
to a record $2.5 billion.

 

Sonatrach earlier this year reached a deal to buy Exxon Mobil’s 175,000
barrel-per-day Augusta refinery in Sicily.

 

Kaddour also said Sonatrach had received a request from Exxon Mobile to work
on petrochemicals.

 

“They want to do business with us on petrochemicals, this is good news
because Sonatrach has become more attractive,” he said, without giving
details.

 

 

Randgold expects full production at Tongon mine in mid-August

LONDON (Reuters) - African miner Randgold Resources said on Thursday it
expects its Tongon mine in Ivory Coast to return to full production in
mid-August after a recent stoppage.

 

“The team is back and we are ramping up as we speak. We should be back to
full production by the middle of the month,” said Chief Executive Mark
Bristow.

 

A strike at the mine which started on July 13 has crippled production and
followed similar stoppages there earlier this year.

 

Tongon accounted for 22 percent of Randgold’s 2017 total production.

 

 

 

Tunisia's tourism revenues jump by 42 percent until July 31

TUNIS (Reuters) - Tunisia’s tourism revenues rose by 42 percent to $554
million in the first seven months, its country’s tourism minister said on
Thursday as the sector recovers three years after two major militant
attacks.

 

After shunning the North African country in the wake of 2015 gun attacks on
a beach in Sousse that killed 39 tourists and one at the Bardo National
Museum in Tunis that killed 21, major European tour operators have started
to return this year.

 

The number of foreign visitors rose by 23 percent to 4.4 million until July
31 compared with the same period a year earlier, tourism minister Salma
Loumi told a conference.

 

Officials have predicted some 8 million tourists will come this year, above
the pre-attack level of 7.1 million seen in 2014.

 

The return of European visitors would give a strong boost to the struggling
economy and support the country’s fledgling currency.

 

 

Uber rival Taxify bets on motorcycles and rickshaws in East Africa

NAIROBI (Reuters) - Taxify, an Estonian ride-hailing company aiming to take
on Uber in emerging markets, will invest millions of euros in East Africa in
the next five years with a strategy focused on motorised rickshaws and
motorcycles, it said on Thursday.

 

The company, which already operates in five cities in Kenya, Uganda and
Tanzania and will continue to offer regular car rides, said it saw the best
opportunity for growth via taxi services in locally popular forms of
motorised transport.

 

In East Africa, that means “boda bodas” and “bajajis”, also called “tuk
tuks”, - local terms for motorcycles and rickshaws, respectively.

 

“Our focus is on providing the most appropriate means of transport for the
customers and in East Africa we can see that boda bodas are getting the
highest value for us,” Karl Aru, Taxify’s Expansion Manager for Africa, said
in an interview.

 

Taxify has picked off business from Uber in central and eastern Europe and
major African cities. It raised $175 million in May in a funding round that
included German automaker Daimler and brought its valuation to $1 billion.

 

The company says it has hundreds of thousands of drivers in sub-Saharan
Africa, with roughly a third in East Africa. It also operates in Nigeria and
South Africa, and has a total of five million active users on the continent
as a whole. Close to half of Taxify’s business is in Africa, the company
said.

 

It recently expanded to Mwanza, a northern city in Tanzania, a country of 55
million people.

 

Aru said the company was exploring other markets in the region. “We are
looking into Ethiopia, and a number of other countries also in East Africa,”
he said in a phone interview from Tallinn, Estonia, where Taxify is
headquartered.

 

He did not give a timeline, but said the immediate focus was on expanding in
markets where Taxify already operates.

 

Challenges the company faces in East Africa include low smartphone
penetration, internet connectivity and safety, he said, adding Taxify’s
safety features included a “share your ETA (Estimated Time of Arrival)”
function.

 

In Kenya, East Africa’s richest economy per capita, Taxify also competes
against Little, which has a partnership with telecoms operator Safaricom,
and the Nairobi-based Mondo Ride.

 

Taxify differentiates itself from rivals by offering locally popular modes
of transport, and also working to take less commission from drivers, Aru
said.

 

“Of course, we have several different products, we have the regular cars,
sedans, we have a comfort service or like a premium service and we also have
an affordable option, called ‘GO’ which is small vehicles for deliveries and
daily pick-ups.”

 

Aru said Taxify on average took a commission of about 15 percent from
drivers, which he said compared with 25-30 percent at competitors.

 

 

 

South Africa's Eskom reaches "in principle" wage deal with unions

JOHANNESBURG (Reuters) - South African power utility Eskom and trade unions
reached an “in principle” wage deal, the company said late on Wednesday,
potentially ending weeks of tense negotiations that have lead to power
outages in Africa’s most industrialised economy.

 

Last week Eskom offered the three main unions a salary increase of 7.5
percent this year and 7 percent next year and in 2020, plus an
inflation-linked increase in housing allowances and a one-off cash payment
of 5,000 rand ($370).

 

The offer was accepted by the Solidarity union last week while the two
larger unions, National Union of Mineworkers (NUM) and National Union of
Metalworkers of South Africa (NUMSA) said they would consider it.

 

“Wage talks between Eskom and trade unions, primarily NUM and Numsa, ended
without a signed agreement although the unions have in principle accepted
Eskom’s offer,” said Eskom spokesperson Khulu Phasiwe.

 

In a statement released late on Wednesday the power firm said the two unions
wanted members who participated in an illegal strike to not face
disciplinary action, a condition Eskom rejected.

 

Eskom did however agree to a request by the unions for a meeting with
minister of state firms Pravin Gordhan and the firm’s board.

 

The cash-strapped power utility, which generates more than 90 percent of the
country’s power, is desperate to end the work stoppages and push ahead with
a turnaround plan that is entrepiece of President Cyril Ramaphosa’s pledge
to reform the economy.

 

 

Ryanair strike: One in six flights cancelled in pilot walkout

Ryanair pilots are striking in five European countries, forcing the
cancellation of a sixth of the firm's flights during the holiday season
peak.

 

The 24-hour walk-out involves staff in Germany, Sweden, Ireland, Belgium and
the Netherlands. About 50,000 passengers are understood to have been told of
cancellations on 400 flights.

 

The action is the largest in a series of strikes over pay and conditions.

 

Ryanair says it has made every effort to resolve the dispute.

 

The Irish airline, Europe's largest low-cost carrier, averted widespread
strikes before Christmas by agreeing to recognise unions for the first time
in its 30-year history.

 

But there have been protests ever since over the negotiating of collective
labour agreements.

 

About 300 Ryanair flights were cancelled in July when cabin crews in
Belgium, Portugal and Spain went on strike for 48 hours.

 

'I'm going to miss my best friend's wedding'

Emily Dutton was due to fly to Gothenburg in Sweden for a wedding, with her
boyfriend Craig.

 

But the "once in a lifetime experience" of being at her best friend
Justine's wedding seems impossible now, after Ryanair cancelled her flight
with two days notice.

 

The 27-year-old project manager from Letchworth was due to fly from Stansted
Airport, and was told there were no alternative flights for the rest of the
day.

 

"The only reason I found this out was through a reminder email about
checking in being sent to my email account.

 

"Had I not checked, I would have arrived at the airport only to find my
flight being cancelled.

 

"I spent about four hours [yesterday] calling them and trying to find my own
travel options to see how to get to Sweden.

 

"They couldn't find us any alternative flights until Sunday. Great news, the
wedding is on Saturday so that was absolutely no use."

 

She tried to find any other flights to Sweden from other UK airports, and
even asked if she could fly to Copenhagen in Denmark, and get a train to
Gothenburg instead.

 

"My only options were to get a refund or to go down the route - which I have
done - to claim compensation."

 

The airline in recent days announced the cancellations of 250 flights in and
out Germany, 104 to and from Belgium and another 42 affecting Sweden and
Ireland.

 

A Dutch court on Thursday evening rejected a case from Ryanair seeking to
block pilots in the Netherlands from joining the strike, affecting about 22
flights. But at about the same time Ryanair issued a statement saying there
would be no cancellations.

 

The unions want the contracts of Ryanair employees to be governed by the
laws of the nation where they are based, not by Irish legislation.

 

Ryanair has described the strike action as "regrettable and unjustified",
claiming its pilots are paid more than other budget airlines.

 

It said it has taken every step to minimise the disruption, adding: "The
majority of customers affected have already been reaccommodated on another
Ryanair flight."--BBC

 

 

Immigration: Scrap targets after Brexit, CBI urges

Net migration targets should be scrapped after Brexit, the Confederation of
British Industry says.

 

Targets should be replaced with a system that ensures people coming to the
UK make a positive contribution to the economy, the business group said.

 

Schools and hospitals should receive extra funding where demand is increased
by immigration, the CBI added.

 

But the Home Office said it was committed to bringing net migration down to
"tens of thousands".

 

The contribution of EU workers to the UK economy was "profoundly important
and will be needed in the future", after the free movement of EU citizens
comes to an end as part of Brexit, the CBI said.

 

It said EU citizens should be registered on arrival to the UK and restrict
their visit to three months "unless they can prove that they are working,
studying or are self-sufficient".

 

It would be "entirely unworkable" to move EU nationals into the existing
non-EU immigration system, which the CBI described as "highly complex,
time-consuming and expensive, particularly for small businesses".

 

European fruit pickers shun Britain

Construction bodies warn of Brexit 'cliff edge' skills gap

Carney: No-deal Brexit risk 'uncomfortably high'

The CBI said immigration had been shown time and again to bring net economic
benefits to the UK, yet people had legitimate concerns about the pressures
immigration could have on public services and society.

 

The answer was to shift away from numbers and instead to focus on who could
benefit the UK. This need not just be high earners, but anyone who could
contribute.

 

There is an impetus to overhaul UK immigration policy after Brexit to make
sure the system allows skilled people to come into the country from around
the world, the CBI said.

 

"The stakes are high. Get it wrong, and the UK risks having too few people
to run the health service, pick food crops or deliver products to stores
around the country," it added.

 

"We also risk harming our future as a global innovation hub, rooted in our
longstanding ability to attract talented people the world over."

 

'No uncontrolled immigration'

However, the Home Office said it had no plans to scrap immigration targets.

 

The target of reducing net migration to tens of thousands was set by David
Cameron in 2010. But the goal has never been met, with recent annual net
migration to the UK at about 240,000.

 

There is "no consent in Britain for uncontrolled immigration", the Home
Office said.

 

"After we leave the EU, we will end free movement and put in place a system
which works in the best interests of the whole of the UK," the Home Office
said.

 

"We are considering a range of options that will ensure that we are in
control of our borders and managing migration, while continuing to attract
and retain people who come here to work and bring significant benefits."

 

The government has asked the Migration Advisory Committee, a
non-departmental public body, to assess the contribution that EU citizens
make to the UK.

 

The body has been talking to businesses, the NHS and universities, and is
due to bring out a report in September.

 

The government will then set out its plans, taking into account "the UK's
social and economic circumstances and our discussions with the EU around our
future relationship", the Home Office said.

 

The department added that the government had already reached agreements on
EU citizens' rights, while its White Paper proposed visa-free travel for
tourists and short-term business travellers.--BBC

 

 

Japan's economy rebounds in the second quarter

Japan's economy rebounded in the second quarter, returning to growth despite
growing global trade tensions.

 

The economy expanded by a faster-than-expected annualised pace of 1.9%,
supported by private consumption.

 

The growth came after Japan's economy shrank in the first quarter of 2018
for the first time in two years.

 

The release of the data comes as Japanese officials are in Washington
discussing trade amid rising global trade tensions with the US.

 

Momentum 'slowing'

Japan's rate of growth in the April-to-June period beat analysts'
expectations of an annualised rate of 1.4%, and came after the world's
third-largest economy contracted by a revised 0.9% in the first quarter.

 

Consumer spending underpinned the economy between April and June, but
external demand - exports minus imports - weighed on growth.

 

"While real GDP growth in Q2 was both strong and higher than the consensus
forecast, we believe it is reasonable to conclude that growth momentum for
the Japanese economy as a whole is gradually starting to slow," Nomura said
in a research note.

 

The figures came as Japan's Minister for Economic Revitalisation Toshimitsu
Motegi met US Trade Representative Robert Lighthizer in Washington.

 

Mr Motegi said they had a "frank exchange of views" but reiterated Japan's
position that multilateral talks were the best ways to address trade issues,
according to Reuters.

 

Last year, the Trump administration abandoned the Trans-Pacific Partnership
trade deal, of which Japan is a key stakeholder, as Mr Trump carried out a
protectionist agenda after taking office in 2016.

 

The US has since imposed tariffs on many of its major trading partners, and
threatened to slap tariffs on all Chinese imports into the US.

 

As a result, Japan has been focusing on other markets. Last month, Japan and
the European Union signed one of the world's biggest free trade deals,
covering nearly a third of the world's gross domestic product.--BBC

 

 

House of Fraser calls in administrators

Department store chain House of Fraser is to appoint administrators after
giving up the fight to save the business.

 

In a statement, it said that talks with investors and creditors had "not
concluded in a solvent solution".

 

House of Fraser employs 17,500 people, including 11,500 concession staff.

 

Its fate was sealed earlier this month, when Chinese firm C.banner pulled
out of a rescue deal that would have brought much-needed investment.

 

House of Fraser said administrators Ernst & Young had confirmed that the
business would continue trading, including all stores and offices, while
they attempted to complete a sale.

 

All 59 shops are set to open as usual on Friday, including 31 that have
already been earmarked for closure as part of a restructuring agreement.

 

House of Fraser: Five things that went wrong

The firm said: "Significant progress has been made towards completing a sale
of the group's business and assets.

 

"The proposed administrators are expected to continue to progress those
discussions with a view to concluding a transaction shortly after their
appointment."

 

What is administration?

Administration is a formal procedure that happens when a company becomes
insolvent - that is, its debts are bigger than its assets

 

The unfortunate firm is put under the management of insolvency practitioners

 

Once an administration order is granted, all legal action against the
insolvent company is frozen for a period of about eight weeks

 

During that time, the administrator can draw up a plan of action and propose
it to creditors during a creditors' meeting

 

The administrator takes control of all assets and business operations

 

Its aim is to act in the best interest of the firm's creditors, in order to
repay as much as possible

 

Chief executive Alex Williamson said: "We are hopeful that the current
negotiations will shortly be concluded. An acquisition of the 169-year-old
retail business will see House of Fraser regain stability, certainty and
financial strength.

 

"In the two weeks since the Cenbest and C.banner transaction ceased, the
directors have brought forward a number of potential buyers and the group's
financial advisers have run a comprehensive M&A process to identify and then
develop other third-party interest that has culminated in the senior secured
creditors leading negotiations with parties at a critical pace."

 

Chairman Frank Slevin said: "This has been an extraordinarily challenging
six months in which the business has delivered so many critical elements of
the turnaround plan.

 

"Despite the very recent termination of the transaction between Cenbest and
C.banner, I am confident House of Fraser is close to securing its
future."--BBC

 

 

 

Apple removes 'wrong apps' in gambling purge

Apple has been accused of accidentally removing apps from the App Store in a
crackdown on gambling content.

 

Several developers complained via social media that their apps, which they
said had nothing to do with gambling, were taken down.

 

The affected apps included a Polish magazine, a gif-sharing service and a
platform for sending clips of Xbox games to friends.

 

The BBC has contacted Apple for comment.

 

A message sent to affected developers said that Apple was removing
gambling-related apps made by individuals in an effort to "reduce fraudulent
activity... and comply with government requests to address illegal online
gambling activity".

 

Recently, Norway succeeded in getting Apple to ban all gambling apps from
its App Store in the country, although the recent removals appear to have
been effected worldwide.

 

Some of the removed apps are now coming back online.

 

"Apple says these apps contain gambling but they don't reveal how they have
detected this," said Simon Stovring, a Copenhagen-based developer behind a
gif-sharing app called Gifferent.

 

"It seems like an unfortunate but honest mistake," he told the BBC.

 

Mr Stovring said about 10 fellow-developers had contacted him to say that
they too had been hit by the ban.

 

Wojtek Pietrusiewicz, co-owner of the Polish app iMagazine, said it had also
been "caught in the crossfire".

 

'Angry comment'

He said he thought the removal might have occurred because the app contains
access to the wider internet, which allows users to potentially click
through to gambling content.

 

The app, which has thousands of users, was down for a total of 15 hours.

 

While it didn't cause any serious issues, Mr Pietrusiewicz said it did
result in "one angry comment from a reader and a lot of stress for our
team".

 

Another developer, Niall Watchorn, also watched as his app for sharing Xbox
game footage was reinstated after several hours.

 

"It was very frustrating though, as my app has just started gaining
traction," he told the BBC.--BBC

 

 

 

 

 

 

 

 


 

 


 

INVESTORS DIARY 2018

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


NicozDiamond

shares delist from the ZSE

 

06/07/2018

 


Zimbabwe

Heroes’ Day

Zimbabwe

13/08/2018

 


Zimbabwe

Defence Forces Day

Zimbabwe

14/08/2018

 


The Harare Agricultural Show

The Harare Agricultural Show

The Harare Agricultural Show

August 27- September 1

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from sources believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and sourced from third parties.

 


 

 


(c) 2018 Web: <http:// www.bulls.co.zw >  www.bulls.co.zw Email:
<mailto:info at bulls.co.zw> info at bulls.co.zw Tel: +263 4 2927658 Cell: +263 77
344 1674

 


 

 

 

 

 

Invest Wisely!

Bulls n Bears 

 

Telephone:      <tel:%2B263%204%202927658> +263 4 2927658

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:
<http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw&sa=D&sntz=1&usg=AF
QjCNH8LYgdY55h-XKseuM8Kpr-JKdfhQ> www.bulls.co.zw 

Blog:
<http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw%2Fblog&sa=D&sntz=1
&usg=AFQjCNFoIy6F9IXAiYnSoPSgWDYsr8Sqtw> www.bulls.co.zw/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:
<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
bwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA>
www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 



 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180810/d54c1db7/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 3653 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180810/d54c1db7/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 8312 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180810/d54c1db7/attachment-0007.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 29391 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180810/d54c1db7/attachment-0008.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 29401 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180810/d54c1db7/attachment-0009.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 29420 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180810/d54c1db7/attachment-0010.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image006.jpg
Type: image/jpeg
Size: 4846 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180810/d54c1db7/attachment-0011.jpg>


More information about the Bulls mailing list