Major International Business Headlines Brief::: 04 July 2018

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Major International Business Headlines Brief::: 04 July 2018

 


 

 


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*  South African private sector activity improves in June: PMI

*  Kenya private sector activity slows in June -PMI

*  S.Africa's Sasol senior employees want to strike over black employees'
scheme: union

*  Tullow told to pay Seadrill $254 mln over Ghana dispute

*  Ten African nations face $1 trillion infrastructure funding gap

*  Morocco’s growth slows to 3 pct in Q2

*  Egypt's economy grew 5.4 pct in 12 months to June 30: PM

*  Trump administration tells ZTE it can restart some operations

*  Glencore shares dive on money-laundering probe

*  Social media apps are 'deliberately' addictive to users

*  GSK director sued over US opioid crisis

*  KPMG's audit of collapsed drinks firm Conviviality faces probe

*  Eike Batista: Brazilian ex-billionaire jailed for bribery

*  Banks Conduct Cross-Border Trades on IBM-Powered Blockchain

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

South African private sector activity improves in June: PMI

(Reuters) - South African private-sector activity expanded modestly in June
after two months of stagnation, signalling a return of momentum to the
economy, a survey showed on Wednesday.

 

The Standard Bank Purchasing Managers’ Index (PMI), compiled by Markit,
inched up to 50.9 in June from 50.0 in May, with the sub-indexes for output,
new orders and employment all above the 50 mark that separates expansion
from contraction.

 

The overall reading was the highest since March. Economic activity has
stalled in recent months, with disappointing data stifling some of the
optimism generated by Cyril Ramaphosa’s rise to the presidency late last
year.

 

First-quarter gross domestic product figures last month showed the worst
quarterly contraction in nine years, while reading of business confidence
also sank. Economists believe the slump is temporary, however and predict
growth will rebound during the rest of 2018.

 

“This is in line with our view that the PMI will, during the remainder of
2018, largely show signs of improving domestic business conditions
influenced by domestic consumption expenditure and reasonable global
growth,” Standard Bank economist Thanda Sithole said.

 

The survey showed overall input costs had risen at an accelerated pace,
driven mainly by fuel prices, which hit an all-time high in April as
international oil prices spiked and the rand currency tumbled against the
dollar.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 

 

Kenya private sector activity slows in June -PMI

(Reuters) - Kenya’s private sector activity grew at a slower pace in June,
hit by slower expansion in output and new businesses, with higher food and
fuel prices posing a challenge to consumers, a survey showed on Wednesday.

 

The Markit Stanbic Bank Kenya Purchasing Managers’ Index(PMI) for
manufacturing and services fell to 55.0 in June from 55.4 in May. A reading
above 50 denotes growth.

 

Economic activity has picked up this year after political unrest and drought
cut growth last year to its lowest level in more than five years, and the
Kenyan economy is forecast to expand by 5.8 percent this year from 4.9
percent in 2017.

 

Uncertainty has subsided after President Uhuru Kenyatta and opposition
leader Raila Odinga reconciled in March and pledged to unite the country
after last year’s hotly contested elections.

 

Survey compiler Markit said food and fuel prices had risen during the month,
leading to the higher prices being passed to consumers.

 

- Detailed PMI data are only available under licence from Markit and
customers need to apply to Markit for a licence.

 

 

S.Africa's Sasol senior employees want to strike over black employees'
scheme: union

(Reuters) - South Africa’s trade union Solidarity has been given a mandate
by senior members to strike at energy giant Sasol over its plan to launch a
share ownership scheme exclusively to black staff, a union source said on
Tuesday.

 

South African government mediators last month cleared the Solidarity union,
which represents predominately white workers, to strike over the dispute.

 

“Our senior representatives gave us the mandate to go on strike today,” the
source told Reuters. “We will now start the process to do a strike vote with
all our members.”

 

Under black economic empowerment rules, South African companies are required
to meet quotas on black ownership, employment and procurement as part of a
drive to reverse decades of exclusion under apartheid.

 

 

 

Tullow told to pay Seadrill $254 mln over Ghana dispute

LONDON (Reuters) - A London judge ordered Tullow Oil to pay rig owner
Seadrill around $254 million saying Tullow was wrong to end a rig contract
in Ghana on grounds of force majeure over a maritime dispute, Tullow said on
Tuesday.

 

Tullow cancelled the contract for Seadrill’s West Leo rig in December 2016
after Ghana set a drilling moratorium on its TEN offshore oil and gas field
which is located in waters then claimed by both Ghana and Ivory Coast.

 

An international tribunal last year ruled in favour of Ghana, allowing
Tullow, the lead operator of the project, to resume drilling. Kosmos Energy,
Anadarko Petroleum Corporation, Ghana National Petroleum Corporation and
PetroSA also hold stakes.

 

“We are disappointed with the decision and maintain the view that it was
right to terminate the West Leo contract for force majeure. Tullow will now
examine its options, including seeking leave to appeal the judgment,” Tullow
said in a statement.

 

With Tullow’s 47 percent stake in TEN and its duty to pay costs for Ghana
National Petroleum Corporation’s (GNPC) stake, the British company expects
to pay around $140 million net, it said. It expects to get the rest of the
money back from its TEN partners.

 

 

Tullow said last week it had set aside $128 million for the dispute with
Seadrill. It will decide within the coming 21 days whether it will appeal
the ruling.

 

Meanwhile, Kosmos is in a separate dispute with Tullow over the contracting
of the rig at the International Chamber of Commerce which might result in
Tullow having to pay the fees for Kosmos’ 20 percent stake in the field.

 

A decision in the Kosmos case is due shortly. It would cost Tullow around
$50 million should it lose.

 

Tullow’s shares dropped as much as 4.3 percent on Tuesday, but recovered to
trade broadly flat.

 

RBC said in a note that Tullow’s projects in East Africa, including Uganda
and Kenya where final investment decisions are due late this year and 2019
respectively, outweigh the negative impact of Tuesday’s ruling.

 

Boosted by its Ghana output, Tullow last week raised its 2018 production
outlook to 86,000-92,000 barrels of oil per day.

 

 

 

Ten African nations face $1 trillion infrastructure funding gap

JOHANNESBURG (Reuters) - A group of 10 African nations, including some of
the continent’s rising economic stars, will fall $1 trillion short of the
infrastructure financing required to meet U.N. development goals by 2040, a
study released on Tuesday found.

 

The report by the Global Infrastructure Hub (GIH) of the G20 wealthy and
developing nations exposes the challenges facing one of the world’s least
developed regions. But it also highlights the opportunities for investors
willing to take the plunge.

 

“Africa is a fascinating continent for investors,” GIH Chief Executive Chris
Heathcote told Reuters. “They’re not saying ‘Am I going to Africa?’. They’re
saying ‘I am going to Africa. I want to go to Africa. Which country should I
go to?’”

 

The GIH report focuses on Morocco, Ethiopia, Ivory Coast, Senegal, Egypt,
Ghana, Tunisia, Benin, Guinea and Rwanda - all participants in the G20’s
‘Compact with Africa’ initiative, which aims to channel investment to the
continent.

 

To keep pace with success stories such as Vietnam in terms of developing
roads, railways, airports, sea ports, electricity, water and physical
telecommunications infrastructure these nations will require investments of
$2 trillion through 2040.

 

Meeting the U.N. Sustainable Development Goals, which call for universal
access to power and water by 2030, would require $383 billion in additional
investment, the study found, bringing the total to around $2.4 trillion.

 

If they maintain their current average investment level of 4.9 percent of
gross domestic product, that would leave the 10 countries with a 42 percent
funding gap to fill.

 

African nations do not have the resources to ramp up infrastructure spending
on their own, even with backing from aid agencies and multilateral donor
institutions, Heathcote said, and so attracting private sector investment is
essential.

 

Major international conglomerates including Bouygues, Bollore, China Railway
Construction Corp and General Electric are already active in African power,
transportation and construction.

 

A pool of potential infrastructure financing was now poised to enter Africa
under the right conditions, Heathcote said.

 

“There is a wall of money being held by the pension funds. They are looking
more and more at emerging market infrastructure,” he said.

 

Unleashing that money, however, will require clamping down on the corruption
and inefficiencies that have long hindered large-scale investment in Africa.

 

Heathcote points to Rwanda, where private investment represents two thirds
of infrastructure spending, as an example of how it can be done right.

 

“They worked out that if you run transparent processes, if you have clear
regulation that allows you to understand what your outcomes are likely to be
in the long-term in your contracts, then investors will look very seriously
at you.”

 

 

Morocco’s growth slows to 3 pct in Q2

RABAT (Reuters) - Morocco’s economic growth slowed to 3 percent in the
second quarter of 2018, after 3.2 percent in the first quarter, the
country’s planning commission said on Tuesday.

 

Growth is expected to remain flat at 3.2 percent in the third quarter, with
agricultural output dropping 2.6 percent.

 

Agricultural activity rose 3.1 percent in the second quarter while
non-agricultural sector growth slowed to 3 percent, compared to 3.3 percent
the previous quarter.

 

Manufacturing growth was 2.9 percent in the second quarter, after 2.3
percent in the same period last year.

 

Food prices lifted inflation to 2.6 percent in the second quarter, up from
2.1 percent in the previous quarter. Exports rose 13.9 percent thanks to an
increase in demand from the Eurozone countries.

 

The automotive sector continued to top Morocco’s exports, contributing 5.4
points to the overall export growth, while phosphates and derivatives
contributed 4.7 points.

 

Imports soared 9.2 percent year on year in the second quarter driven by
energy and industrial machinery.

 

Fixed capital formation rose 3.4 percent in the second quarter. Money supply
slowed to 5 percent year-on-year, down from 5.5 percent in the first
quarter.

 

The Central Bank forecast economic growth of 3.6 percent in 2018, based on
expectations of a cereals harvest of 9.82 million tonnes.

 

 

Egypt's economy grew 5.4 pct in 12 months to June 30: PM

CAIRO (Reuters) - Egypt’s gross domestic product grew by 5.4 percent in the
2017-2018 fiscal year that ended on June 30, Prime Minister Mostafa Madbouly
said on Tuesday.

 

In a televised address to parliament, he said the government was targeting
GDP growth of 8 percent by the 2021-2022 financial year.

 

 

 

Trump administration tells ZTE it can restart some operations

The US has said it will allow the Chinese tech giant ZTE to temporarily
re-start some business activities as it considers lifting a seven-year ban
imposed on the firm earlier this year.

 

In April, the US found ZTE had violated trade bans with Iran and North
Korea.

 

The firm was then blocked from buying parts from US suppliers - a move that
threatened to destroy its business.

 

The order allowing ZTE to resume some business comes amid heightened trade
tensions between the US and China.

 

US-China trade row: What has happened so far?

Trump wants to block China Mobile in US

The US Department of Commerce said the temporary authorisation for ZTE to
resume some business activities in the US would run from 2 July until 1
August.

 

US reaches deal with China's ZTE

China's ZTE 'poses risk to UK security'

Under the new order, state-owned ZTE would now be allowed to support its
existing handsets in the US and continue operation of existing networks,
among some other activities.

 

But the US commerce department said the existing ban slapped on the firm in
April remained "in full force and effect".

 

ZTE is currently attempting to meet a range of requirements that would allow
it to resume full business activities in the US - which have included paying
a $1bn penalty, hiring a compliance team chosen by the US, and replacing
much of its management board, among other measures.

 

The Trump administration's deal-making with Beijing, that would see the ban
on ZTE lifted, has been criticised by a group of bipartisan US Senators who
want to see the ban kept in place citing national security and other
concerns.--BBC

 

 

 

Glencore shares dive on money-laundering probe

Shares in mining giant Glencore sunk as much as 12% after it was ordered by
US authorities to hand over documents relating to a money laundering probe.

 

The subpoena from the US Department of Justice is in relation to compliance
with the Foreign Corrupt Practices Act and money-laundering laws.

 

It is regarding business dealings in Nigeria, Democratic Republic of Congo
and Venezuela from 2007 onwards.

 

Glencore confirmed it had received the subpoena, which it is now reviewing.

 

A subpoena is a court order which compels an organisation or person to
produce physical evidence, or face punishment.

 

"The market has reacted significantly," said investment bank Credit Suisse.
"At this stage we would stress that this is a simple request for documents,
rather than an announcement of a formal investigation.

 

"From our perspective, while it is clearly a risk factor, we stress that
these types of requests are more common than perhaps the aggressive drop in
the Glencore share price suggests."

 

Glencore mines and trades commodities and is one of the biggest firms in the
industry.

 

In May, the company said it expected its full-year results to be between
$2.2bn (£1.67bn) and $3.2bn after its first-quarter production had been in
line with forecasts.

 

However, earlier this decade it, along with the rest of the mining industry,
had a tough time.

 

In September 2015, its shares dived after a note from analysts at Investec
said its equity value could be "eliminated", although Glencore responded
that it was "operationally and financially robust".

 

When it listed on the London market in 2011, its shares were priced at 530p,
but they are currently trading at 307p.--BBC

 

 

 

Social media apps are 'deliberately' addictive to users

Social media companies are deliberately addicting users to their products
for financial gain, Silicon Valley insiders have told the BBC's Panorama
programme.

 

"It's as if they're taking behavioural cocaine and just sprinkling it all
over your interface And that's the thing that keeps you like coming back and
back and back", said former Mozilla and Jawbone employee Aza Raskin.

 

"Behind every screen on your phone, there are generally like literally a
thousand engineers that have worked on this thing to try to make it
maximally addicting" he added.

 

In 2006 Mr Raskin, a leading technology engineer himself, designed infinite
scroll, one of the features of many apps that is now seen as highly habit
forming. At the time, he was working for Humanized - a computer
user-interface consultancy.

 

Infinite scroll allows users to endlessly swipe down through content without
clicking.

 

"If you don't give your brain time to catch up with your impulses," Mr
Raskin said, "you just keep scrolling."

 

He said the innovation kept users looking at their phones far longer than
necessary.

 

Mr Raskin said he had not set out to addict people and now felt guilty about
it.

 

But, he said, many designers were driven to create addictive app features by
the business models of the big companies that employed them.

 

"In order to get the next round of funding, in order to get your stock price
up, the amount of time that people spend on your app has to go up," he said.

 

"So, when you put that much pressure on that one number, you're going to
start trying to invent new ways of getting people to stay hooked."

 

Lost time

A former Facebook employee made a related point.

 

"Social media is very similar to a slot machine," said Sandy Parakilas, who
tried to stop using the service after he left the company in 2012.

 

"It literally felt like I was quitting cigarettes."

 

During his year and five months at Facebook, he said, others had also
recognised this risk.

 

"There was definitely an awareness of the fact that the product was
habit-forming and addictive," he said.

 

"You have a business model designed to engage you and get you to basically
suck as much time out of your life as possible and then selling that
attention to advertisers."

 

Facebook told the BBC that its products were designed "to bring people
closer to their friends, family, and the things they care about".

 

It said that "at no stage does wanting something to be addictive factor into
that process".

 

Like's legacy

One of the most alluring aspects of social media for users is "likes", which
can come in the form of the thumbs-up sign, hearts, or retweets.

 

Leah Pearlman, co-inventor of Facebook's Like button, said she had become
hooked on Facebook because she had begun basing her sense of self-worth on
the number of "likes" she had.

 

"When I need validation - I go to check Facebook," she said.

 

"I'm feeling lonely, 'Let me check my phone.' I'm feeling insecure, 'Let me
check my phone.'"

 

Ms Pearlman said she had tried to stop using Facebook after leaving the
company.

 

"I noticed that I would post something that I used to post and the 'like'
count would be way lower than it used to be.

 

"Suddenly, I thought I'm actually also kind of addicted to the feedback."

 

Vulnerable teens

Studies indicate there are links between overusing social media and
depression, loneliness and a host of other mental problems.

 

In Britain, teenagers now spend about an average of 18 hours a week on their
phones, much of it using social media.

 

Ms Pearlman believes youngsters who recognise that social media is
problematic for them should also consider steering clear of such apps.

 

"The first things I would say is for those teenagers to step into a
different way of being because with a few leaders, it can help others
follow," she said.

 

Last year Facebook's founding president, Sean Parker, said publicly that the
company set out to consume as much user time as possible.

 

He claimed it was "exploiting a vulnerability in human psychology".

 

 

"The inventors", he said, "understood this consciously and we did it
anyway."

 

But Ms Pearlman said she had not intended the Like button to be addictive.

 

She also believes that social media use has many benefits for lots of
people.

 

When confronted with Mr Parker's allegation that the company had effectively
sought to hook people from the outset, senior Facebook official Ime
Archibong told the BBC it was still looking into the issue.

 

"We're working with third-party folks that are looking at habit-forming
behaviours - whether it's on our platform or the internet writ large - and
trying to understanding if there are elements that we do believe are
bringing harm to people," he said, "so that we can shore those up and we can
invest in making sure those folks are safe over time."

 

Recent reports indicate Facebook is working on features to let users see how
much time they have spent on its app over the previous seven days and to set
daily time limits.

 

The Panorama programme also explores the use of colour, sounds and
unexpected rewards to drive compulsive behaviour.

 

Twitter declined to comment.

 

Snap said it was happy to support frequent creative use of its app,
Snapchat. But it denied using visual tricks to achieve this and added that
it had no desire to increase empty engagement of the product.--BBC

 

 

GSK director sued over US opioid crisis

A board member at GlaxoSmithkline is one of those being sued by the US state
of Massachusetts over the US opioid addiction crisis.

 

Judy Lewent has been a GSK non-executive director since April 2011, and was
on the board of US company Purdue Pharma until 2014.

 

The lawsuit seeks damages from 16 individuals, many of whom are members of
the Sackler family, and Purdue.

 

GSK declined to "comment on legal matters faced by another company".

 

Purdue said it "vigorously" denied the allegations.

 

"The Attorney General claims Purdue acted improperly by communicating with
prescribers about scientific and medical information that FDA [the US Food
and Drug Administration] has expressly considered and continues to approve,"
it said.

 

"We believe it is inappropriate for the Commonwealth [of Massachusetts] to
substitute its judgement for the judgement of the regulatory, scientific and
medical experts at FDA."

 

It added that it shared "the Attorney General's concern about the opioid
crisis" and that its "opioid medications account for less than 2% of total
opioid prescriptions".

 

The US is in the grip of an opioid addiction crisis.

 

Opioids are drugs in a group ranging from codeine to heroin.

 

Prescription opioids are supposed to be used for pain relief.

 

In March a study by a federal agency found that opioid overdoses were up 30%
over the previous year in the US, with Midwestern states having the highest
jump in cases.

 

What are opioids and what are the risks?

The Massachusetts lawsuit alleges that Purdue Pharma, the company behind the
drug OxyContin, "created the [opioid] epidemic and profited from it through
a web of illegal deceit".

 

Ms Lewent was named in the lawsuit as one of those "who oversaw and engaged
in a deadly, deceptive scheme to sell opioids in Massachusetts."

 

Half of the people named in the lawsuit are Sackler family members.

 

According to Forbes, in 2016 the Sackler family was worth $13bn, helped by
sales of OxyContin, a powerful narcotic.

 

Purdue has paid out millions of dollars to settle charges from federal
prosecutors over OxyContin marketing, and makes billions from the sale of
the drug, Forbes said.

 

According to US reports, Minnesota this week launched a lawsuit against
Purdue Pharma over the marketing of OxyContin.

 

Ms Lewent would not be making a comment, a GSK spokesperson said.

 

GSK said: "It is not appropriate for GSK to comment on legal matters faced
by another company".--BBC

 

 

 

KPMG's audit of collapsed drinks firm Conviviality faces probe

The Financial Reporting Council is looking into into KPMG's audit of
ex-Bargain Booze owner Conviviality, which went into administration in
April.

 

The watchdog is investigating the preparation of the company's financial
statements for the year to April 2017.

 

A KPMG spokesperson said it believed its audit was conducted correctly.

 

Conviviality sold its retail arm, including Bargain Booze and Wine Rack, to
food wholesaler Bestway for around £7m - saving more than 2,000 jobs.

 

Fall from grace

In March, Conviviality discovered that it owed an unexpected £30m tax bill,
which was due to be paid at the end of the month.

 

Earlier in the month, the company had cut its annual profits forecast by a
fifth, while chief executive Diana Hunter, who had been in charge since
2013, resigned.

 

And at the end of March, it announced that an effort to raise £125m from
shareholders had failed.

 

It was a rapid fall from grace for the company, which had reported half-year
pre-tax profits of £7.4m at the end of January.

 

In a statement, KPMG said: "As reported by the company, it experienced
margin weakness at the start of 2018 and also a significant payment to HMRC,
which had not been included within its short-term cash flow projections,
creating a short-term funding requirement.

 

"Our audit of the company's financial statements for the year ended 30 April
2018 had not yet commenced at the point which administrators were
appointed."

 

Greater scrutiny

The probe is the latest blow to KPMG, which was criticised by the
accountancy watchdog last month for an "unacceptable deterioration" in the
quality of its audits.

 

The FRC said it would put KPMG under more scrutiny and would inspect 25%
more of its audits in the 2018-19 financial year - the first time it had
taken such action.

 

In response, KPMG said it was "disappointed" and was taking steps to improve
audit quality.

 

Earlier in 2018, KPMG had been criticised over its audit of collapsed
construction firm Carillion - in particular, failing to question its
financial judgements.

 

The auditor was also fined £3.2m last month by the watchdog over its audit
of insurance firm Quindell.--BBC

 

 

 

Eike Batista: Brazilian ex-billionaire jailed for bribery

A Brazilian oil and mining magnate, who was once one of the richest men in
the world, has been sentenced to 30 years in jail after a corruption trial.

 

Eike Batista had an estimated worth of more than $35bn (£27bn) six years
ago, but lost most of it as his empire collapsed.

 

He was found guilty of bribing former Rio de Janeiro governor Sergio Cabral.

 

Batista paid more than £16m to foreign bank accounts held by Mr Cabral in
exchange for contracts with Rio State.

 

Eike Batista was once the symbol of a bold, booming Brazil.

 

A self-made billionaire, his empire stretched from mining to oil and public
works.

 

A flashy maverick with taste for expensive cars and a lavish lifestyle, he
was also an inspiration for a generation of young Brazilian entrepreneurs.

 

But it all proved to be not more than an illusion. Many of his ambitious
infrastructure projects were poorly planned and failed to come to fruition.

 

And then there was corruption. It was revealed much of his empire was built
through personal links with corrupt officials at the top.

 

Now he is the symbol of a different kind of Brazil: one that is deep
economic trouble but is trying to tackle years of corporate corruption.

 

Who is Eike Batista?

*         Bold, extravagant and charismatic, he made most of his fortune
during the commodities boom that brought great wealth to Brazil

*         Listed in 2012 by Forbes Magazine as the world's seventh-richest
man, with an estimated fortune of $35bn

*         His Grupo EBX conglomerate spanned mining, oil, shipbuilding and
logistics

*         After EBX collapsed following a crash in demand for commodities,
his wealth slumped to under $1bn--BBC

 

 

Banks Conduct Cross-Border Trades on IBM-Powered Blockchain

A group of European banks has announced that they have completed a series of
cross-border financial trades through a jointly developed blockchain
platform.

 

According to an announcement on Tuesday, the live transactions on We.Trade
were executed over the past five days between 10 companies and were
facilitated by four partner banks. HSBC, one of the nine institutions
involved, claimed that three of its clients took part in the platform test.

 

Built on IBM's Blockchain Platform, We.Trade was established by Deutsche
Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and
UniCredit, in a bid to boost the efficiency of cross-border financial
transactions.

 

As reported by CoinDesk in April, We.Trade was planning to begin testing the
platform in May with an expected commercial release in the summer.

 

At the time, Société Générale told CoinDesk that the focus on small and
medium-sized businesses (SMEs) trading within Europe enabled the platform to
scale quickly.

 

Parm Sangha, IBM's blockchain lead in Europe, commented in today's
announcement:

 

"As We.Trade has moved from pilot applications to conducting live
transactions across borders, it has demonstrated the power of blockchain
technology in an enterprise setting."

 

Currently, We.Trade operates in 11 European countries, snd according to
Roberto Mancone, the platform's chief operating officer, the next phase will
see participants "getting buy-in from additional banks and their customers
in Europe and further afield."

 


 

 


 

INVESTORS DIARY 2018

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


Dawn Properties

AGM

Ophir Room, Monomotapa Hotel

28/06/2018 10am

 


NicozDiamond

Scheme meeting

7th Floor, 30 Samora Machel Ave

28/06/2018 10am

 


ZBFH

AGM

Boardroom, Ground Floor, 21 Natal Road, Avondale

28/06/2018 10:30am

 


African Sun

AGM

Kariba Room, Holiday Inn Harare

28/06/2018 12pm

 


FBC

AGM

Royal Harare Golf Club

28/06/2018 3pm

 


Hwange

AGM

Royal Harare Golf Club

29/06/2018 10:30am

 


Fidelity Life

AGM

Great Indaba Room, Monomotapa Hotel

29/06/2018 11am

 


Barclays

EGM to consider the change of registered statutory name to First Capital
Bank Limited

Meikles Hotel

03/07/2018 3pm

 


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.

 


 

 


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