Major International Business Headlines Brief::: 26 November 2018

Mon Nov 26 09:57:33 CAT 2018

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Major International Business Headlines Brief::: 26 November 2018

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*  S&P keeps South Africa credit ratings below investment grade

*  South Africa to invest $1 bln in South Sudan's oil sector

*  Energy revenues cut Algeria trade deficit in Jan-Oct - customs

*  South Africa's MTN shares rise 4 percent on news of Nigeria dispute
settlement

*  Egypt on track to achieve its financial targets - finance minister

*  Kenya Power gets tough on late bill payers after profit plunges

*  Telkom Kenya gets $40 mln loan from European Investment Bank

*  Nigeria loses $6bn from 'corrupt' oil deal linked to fraud

*  Facebook documents seized by MPs investigating privacy breach

*  Brexit deal 'will cost UK £100bn' by 2030, research suggests

*  Virgin Atlantic in talks to rescue Flybe

*  Samsung apologises to sick factory workers

*  Airbnb sued for pulling West Bank settlements

 <mailto:info at bulls.co.zw> 

S&P keeps South Africa credit ratings below investment grade

JOHANNESBURG (Reuters) - S&P Global Ratings kept South Africa’s
foreign-currency and local-currency credit ratings at below investment grade
on Friday.

“Anaemic economic growth in 2018 and sizable contingent liabilities continue
to weigh on South Africa’s fiscal prospects and debt burden,” S&P said,
adding that it had a “stable” outlook on the ratings.

The long-term foreign-currency rating stayed at ‘BB’, while the
local-currency rating stayed at ‘BB+’.

S&P and Fitch rate South Africa in “junk” status, driving its cost of
borrowing higher.

 <mailto:info at bulls.co.zw> 

South Africa to invest $1 bln in South Sudan's oil sector

JUBA (Reuters) - South Africa will invest $1 billion in South Sudan’s oil
sector, including in the construction of a refinery, the South African
minister for energy and his South Sudanese counterpart for petroleum said on
Friday.

South Sudan’s oil industry is dominated by Asian firms including China
National Petroleum Corporation (CNPC), Malaysia’s Petronas and India’s Oil
and Natural Gas Corporation (ONGC Videsh).

The two ministers signed a memorandum of understanding which will also
involve South Africa taking part in the exploration of several oil blocks,
the ministers said.

“When this refinery is complete, it will have the capacity of producing
60,000 barrels of oil per day,” said Jeff Radebe, South Africa’s minister of
energy.

Ezekiel Lol Gatkuoth, petroleum minister for South Sudan, said the deal also
offers avenues for cooperation in the construction of a pipeline to serve
fields located in the south of the country.

South Sudan exports its crude through another pipeline that goes to a port
in neighbouring Sudan to the north.

“It is instrumental to have a new a pipeline,” Gatkuoth said.

Energy revenues cut Algeria trade deficit in Jan-Oct - customs

ALGIERS (Reuters) - Algeria’s energy earnings rose 18.21 percent in the
first 10 months of this year from the same period in 2017, pushing down the
trade deficit by 58.65 percent, official figures showed on Sunday.

Oil and gas exports, which accounted for 93.17 percent of total sales
abroad, reached $31.795 billion, up from $26.896 billion in January-October
last year, according to customs data.

The overall value of exports reached $34.126 billion, against $28.424
billion in the first 10 months of 2017, while imports fell 0.35 percent to
$38.240 billion.

The North African country has imposed import restrictions in an attempt to
cut spending after a fall in energy revenues since 2014.

South Africa's MTN shares rise 4 percent on news of Nigeria dispute
settlement

JOHANNESBURG (Reuters) - Shares in MTN Group surged 4 percent on Friday with
traders attributing the rise to news that Nigeria’s central bank was on the
verge of reaching an agreement over a $8.1 billon dispute with the South
African telecoms group.

The stock rose as much as 4.1 percent before trimming gains to trade 2.14
percent higher at 87.6 rand as of 0900 GMT.

“Looks like there’s something that going to be finalised in Nigeria and the
share price is reflecting that,” said Ryan Woods of Independent Securities.

A second trader said the disputed amount could be reduced.

Egypt on track to achieve its financial targets - finance minister

CAIRO (Reuters) - Egypt’s state revenues grew by 35.5 percent in the first
quarter of this fiscal year, putting the government on track to achieve its
targeted primary budget surplus of 2 percent, the finance minister said on
Friday.

Government investment rose 85 percent while tax collection increased by 39.8
percent, Finance Minister Mohamed Maait said in a statement.

“These positive results for the first quarter of the current fiscal year
affirm Egypt’s ability to achieve its financial targets for the budget for
the current fiscal year,” the minister said.

Egypt’s fiscal year runs from July to June.

Primary budget figures do not factor in interest payments on government
debt.

Maait attributed the positive results to Egypt’s economic reforms programme,
part of an IMF loan deal signed in 2016.

Under the IMF deal Egypt devalued its currency and has been gradually
cutting fuel subsidies, putting the finances of tens of millions of
Egyptians under strain.

Egypt is pushing ahead with the economic reforms which it sees as essential
in attracting foreign investment.

The budget deficit in the first quarter of the current fiscal year was down
slightly to 1.9 percent from 2 percent last year, the minister previously
said.

Egypt’s economy was hit hard in the turbulent years that followed a 2011
popular uprising which toppled autocrat Hosni Mubarak. The political unrest
scared away many tourists and foreign investors, but recently the economy
has showed signs of recovery.

Kenya Power gets tough on late bill payers after profit plunges

NAIROBI (Reuters) - Kenya Power Co said on Friday it will be much tougher on
chasing unpaid bills after its provisions for bad debts surged in the
financial year through June, sending its full-year profit down 60 percent.

Kenya’s main power distributor said it increased its bad debt provisions
seven-fold to 6.08 billion shillings ($59 million) in the financial year
that ended June 30 after it adopted a new accounting standard.

Its shares fell nearly 6 percent after its full-year results on Friday.

Its performance was also hurt by rising costs linked to its growing
transmission and distribution network, and higher financing costs that
offset modest electricity sales.

The state-controlled company will now make provisions for debts due for
longer than 30 days, down from its previous practice of providing for debt
that is due for longer than 58 days, said acting CEO Jared Othieno.

“We are going to engage in a more aggressive collection policy, where we are
not only going to start collecting those which are due, but also
internally,” Othieno told reporters.

“We are going to ensure that the moment we bill you, then we shall come for
our debt.”

Kenya Power faced a crisis in July after its chief executive and several
senior executives were arrested and charged with a conspiracy to commit
economic crimes and abuse of office.

The company delayed the issuance of its financial results and issued a
profit warning at the time.

“It had an impact... in trying to ensure that the succession plan that was
in place was able to bring out the skills that were required,” said Othieno,
adding the company had recovered from that phase. It has begun the search
for a new CEO.

Its shares were down 5.6 percent at 3.40 shillings by 1129 GMT and have now
lost 48 percent since the arrest of its CEO in July.

The company has more than 6.8 million customers connected to its grid, and
says it gets about 60 percent of its revenue from industrial consumers in
Nairobi and the neighbouring town of Thika.

($1 = 102.3000 Kenyan shillings)

Telkom Kenya gets $40 mln loan from European Investment Bank

NAIROBI (Reuters) - Telkom Kenya, the country’s third biggest operator, has
secured a loan worth $40 million from the European Investment Bank (EIB),
the company said on Friday, as it tries to gain market share by expanding
its mobile and data services.

Telkom will use the funds from the EIB, the European Union’s not-for-profit
long term investment arm, to improve and expand its network, the company and
the bank said.

The operator, which is the smallest in Kenya behind Safaricom and Bharti
Airtel’s Kenyan unit, has been focusing on data to try to win customers.

It said last month it was in talks with two unidentified parties over
partnerships to allow it to sell high speed internet capacity from two
undersea data cables that are about to connect to the East African nation.

The company’s chief executive Mugo Kibati, who was appointed on Nov. 9, said
the funds supported Telkom’s goal of being Kenya’s preferred data network.

The credit agreement will be extended partially in U.S. dollars and
partially in Kenyan shillings, the EIB said.

“In terms of how mobile services are used, we could say that Kenya is ahead
of Europe, and both the market and possibilities are growing fast,” EIB Vice
President Ambroise Fayolle told reporters. “We are happy to support Telkom’s
growth strategy in expanding its 3G and 4G networks across the country.”

Telkom, 60 percent-owned by London-based Helios Investment with the rest
held by the government, had 4.1 million users, about 9 percent of the
market, as of July 2018.

It says it has the cheapest data plan in the market, offering 2 gigabyte
(GB) for 99 shillings ($0.9826).

Safaricom, the dominant operator with nearly 70 percent of the market, cut
its internet connection prices last month in response to Telkom’s aggressive
positioning.

Nigeria loses $6bn from 'corrupt' oil deal linked to fraud

A court in Milan is considering charges of corruption against Eni and Shell
in a controversial oil deal that led to Nigeria losing an estimated $6bn.

The campaign group Global Witness has calculated the OPL 245 deal in 2011
deprived Nigeria of double its annual education and healthcare budget.

Eni and Shell are accused of knowing the money they paid to Nigeria would be
used for bribes.

The Italian and Anglo-Dutch energy giants deny any wrongdoing.

This unfolding scandal, which is being played out in an Italian court, has
involved former MI6 officers, the FBI, a former President of Nigeria, as
well as current and former senior executives at the two oil companies.

The former Nigerian oil minister, Dan Etete, was found guilty by a court in
France of money laundering and it emerged he used illicit funds to buy a
speed boat and a chateau. It is also claimed he had so much cash in $100
bills that it weighed five tonnes.

Global Witness has spent years investigating the deal which gave Shell and
Eni the rights to explore OPL 245, an offshore oil field in the Niger Delta.

It has commissioned new analysis of the way the contract was altered in
favour of the energy companies and concluded Nigeria's losses over the
lifetime of the project would amount to $5.86bn, compared to terms in place
before 2011.

Oil giants face Nigeria 'corruption' trial

New evidence in Shell corruption probe

The analysis was carried out by Resources for Development Consulting on
behalf of Global Witness, as well as the NGOs HEDA, RE:Common and The
Corner. The estimated losses were calculated using an oil price of $70 a
barrel as a basis.

Eni has criticised the way it was calculated because it ignores the
possibility that Nigeria had the right to revise the deal to claim a 50%
share of the production revenues.

Deal or no deal

Campaigners say the deal should be cancelled.

"We discovered that Shell had constructed a deal that cut Nigeria out of
their share of profit oil from the block," Ava Lee, a campaigner at Global
Witness told the BBC's World Business Report.

"This amount of money would be enough to educate six million teachers in
Nigeria. It really can't be underestimated just how big a deal this could be
for a country that right now has the highest rates of extreme poverty in the
world."

Nigeria is the richest economy in Africa, but despite having large resources
of oil and gas millions of people are poor.

It is understandable why Eni and Shell wanted to acquire the rights to
develop OPL 245, because it is estimated to contain nine billion barrels of
oil.

But the process of how they secured the contract is dogged by claims of
corruption.

The court in Milan is weighing evidence of how a former Nigerian oil
minister, Dan Etete, awarded ownership of OPL 245 to Malabu, a company he
secretly controlled.

He is accused of paying bribes to others in the government, such as former
President Goodluck Jonathan, to ensure that process went smoothly.

Shell and Eni are accused of knowing the $1.1bn they paid to Nigeria would
be used for bribes, claims based on the content of emails which have since
emerged.

"Looking at the emails it seems that Shell knew that the deal they were
constructing was misleading but they went ahead with it anyway even though a
number of Nigerian officials raised concerns about this scandalous,
scandalous deal," says Ava Lee from Global Witness.

The Anglo-Dutch and Italian energy giants insist they have done nothing
wrong, because they paid the money to secure the exploration rights directly
to the Nigerian government.

Shell issued a statement to BBC World Business Report saying: "Since this
matter is before the Tribunal of Milan it would not be appropriate for us to
comment in detail. Issues that are under consideration as part of a trial
process should be adjudicated in court and we do not wish to interfere with
this process.

"We maintain that the settlement was a fully legal transaction and we
believe the trial judges in Italy will conclude that there is no case
against Shell or its former employees."

Eni has also denied any wrongdoing and told the BBC that it questions the
competence of the experts commissioned by Global Witness and its "partners",
as well as raising the possibility that the report by the campaign group is
defamatory.

Shell accused of abuses in Nigeria

The Italian oil and gas company said "as this matter is currently before the
Tribunal of Milan, we are unable to comment in detail".

In a statement it noted: "Global Witness together with its partners Corner
House, HEDA Resource Centre and Re: Common had requested twice to be
admitted as aggrieved parties in the Milan proceedings. On both occasions,
the request was firmly denied by the Tribunal of Milan."

Eni also said it "continues to reject any allegation of impropriety or
irregularity in connection with this transaction".

Biggest ever corruption case

Campaigners believe this is a landmark case and the outcome of the trial in
Milan will cause an earthquake to reverberate through the oil and gas
industry.

Nick Hildyard of the Corner House wonders if investors are comfortable.
"Fund managers should be alarmed at this brazen dishonesty," he said.

Nigeria's leader is being encouraged to intervene by Olanrewaju Suraju, from
HEDA. "President Buhari should reject any deal," he said.

The contrast between the way Italy deals with migrants and the actions of
one of the nation's biggest companies has been raised by Antonio Tricarico
of Re;Common.

"The Italian government is discouraging Nigerian migrants trying to reach
Italy by claiming that it will help them at home, but Italy's biggest
multi-national, part owned by the state, is accused of scamming billions
from the Nigerian people."

The outcome of the unprecedented court case in Milan could force the oil
industry to change how it conducts its business, especially in countries
where corruption is rife, because more transparency about contracts and
payments made would discourage fraud.--bbc

Facebook documents seized by MPs investigating privacy breach

A cache of Facebook documents has been seized by MPs investigating the
Cambridge Analytica data scandal.

Rarely used parliamentary powers were used to demand that the boss of a US
software firm hand over the details.

The Observer, which first reported the story, said the documents included
data about Facebook's privacy controls.

MP Damian Collins later told the BBC that he believed the documents were
"highly relevant" to his inquiry. Facebook has demanded their return.

Escorted to Parliament

The documents were intercepted when an executive of US tech firm Six4Three
was on a trip to London.

In a highly unusual move the House of Commons serjeant-at-arms was sent to
the businessman's hotel and he was given a final warning and a two-hour
deadline to comply with the order.

When the executive failed to do so he was escorted to Parliament and warned
he risked fines and imprisonment if the documents were not surrendered, the
paper said.

The firm is involved in court action against Facebook in the US, where the
documents were obtained through legal procedures.

Facebook told the Observer: "The materials obtained by the DCMS committee
are subject to a protective order of the San Mateo Superior Court
restricting their disclosure.

"We have asked the DCMS committee to refrain from reviewing them and to
return them to counsel or to Facebook."

But Damian Collins, chairman of the Commons Digital, Culture, Media and
Sport (DCMS) Committee, said he believes the documents - which include
emails - contain important information about how Facebook and other parties
handle user data.

He said he had written to Facebook stressing the House of Commons had powers
to seize documents within UK jurisdiction.

In his email to Facebook public policy vice president Richard Allen, which
he posted on Twitter on Sunday evening, Mr Collins said a committee of the
House can publish these documents under parliamentary privilege.

He added: "The committee's interest in the documents we have requested
relates to their relevance to our ongoing inquiry into disinformation and
fake news.

"As you know, we have asked many questions of Facebook about its policies on
sharing user data with developers, how these have been enforced, and how the
company identifies activity by bad actors.

"We believe that the documents we have ordered from Six4Three could contain
important information about this which is of a high public interest.

"We are also interested to know whether the policies of Facebook, as
expressed within these documents, are consistent with the public statements
the company has made on the same issues."

In an email to Mr Collins, also shared on Twitter, Mr Allen said that
Six4Three's case against Facebook was "entirely without merit" and should
not be taken at "face value".

"We hope you will want to reflect on the core issue behind the complaint...
The case being brought by Six4Three is a challenge against our efforts to
restrict access to data by apps in 2014/2015.

"On earlier occasions, your committee appeared to endorse this more
restrictive approach. If this has now changed, it would be useful to
understand why," he wrote.

Mr Allan is due to appear before a DCMS committee hearing on Tuesday where
details from the documents could be made public.

Regulatory pressure

Facebook and its founder Mark Zuckerberg have faced intense pressure over
the social media giant's use of personal data, the spread of fake news, and,
this month, allegations that it hired a PR firm to make claims about the
financier George Soros.

Last month the UK data watchdog fined Facebook £500,000 following its
investigation into the Cambridge Analytica affair.

Facebook has appealed against the fine, claiming that the watchdog found no
evidence that UK users' personal data had been shared inappropriately and
the penalty was therefore unjustified.

The Cambridge Analytica scandal stems from the discovery that an academic at
the University of Cambridge - Dr Aleksandr Kogan - used a personality quiz
to harvest up to 87 million Facebook users' details.

Some of this was subsequently shared with the political consultancy
Cambridge Analytica, which used it to target political advertising in the
US.

It was initially reported that about 1.1 million UK-based users had had
their details exposed.-bbc

Brexit deal 'will cost UK £100bn' by 2030, research suggests

The government's Brexit deal would leave the UK £100bn a year worse off by
2030, analysis by the National Institute of Economic and Social Research
(NIESR) has claimed.

The study commissioned by the People's Vote, which wants a second
referendum, said GDP would shrink by 3.9% annually.

"This is the equivalent of losing the economic output of Wales or the City
of London," it said.

Chancellor Philip Hammond has said the deal is better than staying in the
EU.

Approved by the EU on Sunday, the withdrawal agreement sets out the terms of
the UK's exit from the EU, including its £39bn "divorce bill", citizens'
rights and the Northern Ireland "backstop" - a way to keep the Irish border
open, if trade talks stall.

A separate political declaration sets out what the UK and EU's relationship
may be like after Brexit - outlining how UK-EU trade will work.

'Less productive'

NIESR's research modelled different Brexit scenarios against a baseline of
staying in the EU.

It found that the government's preferred outcome - leaving in March 2019 and
entering a transition period lasting until December 2020 before moving to a
free trade agreement - would lead to a huge reduction in trade and
investment.

This is largely because leaving the single market would create "higher
impediments" to services trade, making it less attractive to sell services
from the UK, it said.

"This discourages investment in the UK and ultimately means that UK workers
are less productive than they would have been if the UK had stayed in the
EU."

By 2030, at the end of the first decade outside the EU, the research
predicts the following outcomes:

*         Total trade between the UK and the EU would fall by 46%

*         GDP per head would fall by 3% a year, amounting to an average cost
per person a year of £1,090 at today's prices

*         Foreign direct investment would fall by 21%

*         Tax revenue would fall by 1.5-2%, the equivalent of £18-23bn over
the period.

The report also modelled alternative Brexit outcomes against staying in the
EU. This showed that remaining in a customs union beyond the transition
period, possibly through invoking the so-called Irish "backstop", would
still mean a hit of £70bn a year.

Another scenario, favoured by some Brexit supporters, of an "orderly no
deal" departure from the EU would reduce GDP by 5.5%, or £140bn a year, it
said.

Lib Dem leader Sir Vince Cable, who supports a second referendum, said:
"Nobody voted for less control or to be worse off but somehow the government
have managed to come up with something that will achieve both.

"This is a million miles from what the Brexiters promised two years ago and
will create decades of uncertainty for business and investors."

On Sunday, Foreign Secretary Jeremy Hunt told the BBC that the UK was
getting "between 70% and 80%" of what it wanted, while the agreement
"mitigated" most of the negative economic impacts.

Asked if the UK would be better off than if it stayed in, he said the
country would not be "significantly worse or better off but it does mean we
get our independence back".

Prime Minister Theresa May will now need to persuade MPs in the UK
Parliament to back her deal, but some think she will struggle to get it
through.

If MPs reject the deal, a number of things could happen - including leaving
with no deal, an attempt to renegotiate or a general election.--bbc

Virgin Atlantic in talks to rescue Flybe

Flybe and Virgin Atlantic have confirmed they are in talks about a sale or
closer alliance.

The move comes after cash-strapped Flybe put itself up for sale earlier this
month.

The Exeter-based regional airline said that Virgin was "one of the parties"
it has been in discussions with.

Last month, Flybe warned its full-year losses would be £22m, blaming falling
consumer demand, a weaker pound and higher fuel costs.

Confirming the talks, Flybe added that there was no certainty that an offer
would be made by Virgin.

In a short statement, Virgin Atlantic said it "has a trading and codeshare
relationship with Flybe and confirms that it is reviewing its options in
respect of Flybe which range from enhanced commercial arrangements to a
possible offer for Flybe".

Since hitting a price of nearly 50p in March this year, Flybe's shares have
fallen by more than three-quarters. On Friday, they jumped by nearly half to
14.3p.

Heathrow access

Aviation analyst Andrew Charlton, from Aviation Advocacy, said Virgin
Atlantic was likely lured to the beleaguered budget carrier to gain access
to its take-off and landing slots at Heathrow airport.

"Flybe has a fine suite of slots across the UK, particularly at Heathrow.
Any bid by Virgin would be a back-door way to get access to them and is
probably cheaper than to wait to buy similar landing slots outright."

Mr Charlton said that Virgin Atlantic may also benefit from certain regional
routes flown by Flybe which would deliver passengers into London for Virgin
Atlantic's long-haul operations based in London's Heathrow and Gatwick
airports.

Flybe, whose roots date back to 1979, has 78 planes operating from smaller
airports such as London City, Southampton, Cardiff, Belfast City, Aberdeen
and Norwich to destinations in the UK and Europe.

It serves about eight million passengers a year, but has been struggling to
recover from an expensive IT overhaul and has been trying to reduce
costs.--bbc

Samsung apologises to sick factory workers

Samsung has formally apologised to employees who fell sick or died after
working in its factories.

In the apology, Samsung president Kim Ki-nam said staff and families had
"suffered" because the South Korean company had been too slow to act.

Earlier this month Samsung agreed a compensation deal for workers who fell
ill while on its production lines.

The apology follows a campaign to win redress for staff by Hwang Sang-ki,
the father of one Samsung worker who died.

Cash payout

"Beloved colleagues and families have suffered for a long time, but Samsung
Electronics failed to take care of the matter earlier," said Mr Kim, adding
that the company had "lacked being considerate".

He said Samsung Electronics had not "fully and completely" handled potential
health risks on production lines that make chips and LCD displays.

"Today, we wish to express a sincere apology to the workers who suffered
from diseases, as well as their families," Mr Kim said.

Mr Hwang Sang-ki, who headed the compensation campaign, said the apology did
not go far enough.

"Honestly, today's apology made by a Samsung Electronics CEO is not
sufficient for the victims of the work-related diseases," he told the Yonhap
news agency.

However, he said, he would "consider" it as resolution of the issue.

Mr Hwang began the compensation campaign in 2007 after his daughter, Hwang
Yumi. died on the way to hospital after developing leukaemia.

He sought to shame the company into making payouts to workers who suffered
the same disease or who contracted other illnesses after working for the
company.

He set up the Supporters for the Health and Rights of People in the
Semiconductor Industry (Sharps) with the help of labour activists. The group
held protests and sit-ins to put pressure on Samsung to act.

Sharps said it had found 319 other victims, 117 of whom had died, as of June
this year.

The compensation package agreed this month will see sick workers - and their
children with related illnesses - get up to 150m won (£103,207) per illness.

All current or former staff who worked for Samsung and its sub-contractors
on the chip and display lines in the Giheung factory in South Korea since
1984 can apply for compensation.

The agreement does not acknowledge that Samsung workplaces are directly
related to the diseases suffered by some employees.--bbc

Airbnb sued for pulling West Bank settlements

Holiday homes rental giant Airbnb is being sued in a class action by a law
firm in Jerusalem over its delisting of settlements in the occupied West
Bank.

It accuses Airbnb of "grave and outrageous" discrimination for not applying
the same standard in occupied areas in other parts of the world.

On Monday, Airbnb said it took the move because it viewed settlements as
"core" to the Israeli-Palestinian conflict.

The step was hailed by Palestinians and denounced by Israel.

The lawsuit was filed on behalf of Maanit Rabinovich from the settlement of
Kida, and, according to court papers, will seek compensation for other
similarly affected holiday home-letters.

What Airbnb really does to a neighbourhood

Airbnb halts thousands of bookings in Japan

It accuses Airbnb of discriminating against Israelis because it continues to
list holiday homes in places considered occupied in other geopolitical
hotspots, such as Tibet and Northern Cyprus.

Airbnb says it is "evaluating" what to do about lettings in occupied
territories in general.

Israel's tourism minister has denounced the firm's action against Jewish
settlements as "shameful", and said Israeli authorities would back legal
challenges against it.

The move, which affects 200 listings, has been widely praised by
Palestinians and their supporters.

Jewish settlements in territory occupied by Israel in the 1967 Middle East
war are considered illegal under international law, though Israel disputes
this.

The issue of settlements is one of the most contentious areas of dispute
between Israel and the Palestinians.

Can settlement issue be solved?

More than 600,000 Jews live in about 140 settlements built since Israel's
occupation of the West Bank, East Jerusalem and the Golan Heights in the
1967 Middle East war.

The Palestinians see them as a major obstacle to peace and a barrier to a
hoped-for Palestinian state on land which they occupy.

Israel says such an argument is a pretext for avoiding direct peace talks,
and that the fate of settlements should be negotiated in accordance with
peace accords signed with the Palestinians in 1993.--bbc

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

Finance minister Mthuli Ncube presents 2019 National Budget

Parliament

22/11/2018

Simbisa Brands

AGM

Standards Association of Zimbabwe, Northend Close, Borrowdale

23/11/2018 (8:15am)

Axia

AGM

Chapman Golf Club, Eastlea

27/11/2018 (8:15am )

Econet

AGM

Econet Park, Msasa

29/11/2018  (9am )

Econet

EGM

Econet Park, Msasa

29/11/2018  (10am )

GetBucks

AGM

Conference Room 1, Monomotapa Hotel

04/12/2018 (10am )

Innscor

AGM

Royal Harare Golf Club

05/12/2018 (8:15am)

Truworths

AGM

Boardroom, Prospect Park, 808 Seke Road

06/12/2018 (9am)

TSL

EGM

Head Office, 28 Simon Mazorodze Road, Southerton

07/11/2018 (10am )

Cassava shares list on the ZSE

11/12/2018

 <mailto:info at bulls.co.zw> 

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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  

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