Major International Business Headlines Brief::: 05 February 2019

[Bulls n Bears]

 <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::: 05 February 2019

 


 

 


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

 


 

 


 

 

*  Zimbabwe looks to alleviate foreign currency shortages-mines minister

*  Zambia will enforce copper import tax - mining minister

*  South Africa's Eskom sees wider loss, seeks higher power tariffs

*  Botswana forecasts slower economic growth, deficit unchanged

*  South Africa's MTN expects 20 percent boost to 2018 earnings per share

*  Kenyan shilling strengthens to a six-month high against the dollar

*  UK approves Vijay Mallya extradition to India

*  US-China trade war: UN warns of 'massive' impact of tariff hike

*  Banned Turkmenistan Airlines leaves thousands stranded

*  Australia banking inquiry: 'Scathing' report calls for industry overhaul

*  Nissan £60m in doubt after investment U-turn

*  Cadbury loses legal battle over purple wrapper

*  Denmark expels two Huawei staff after inspecting permits

 

 


 <mailto:info at bulls.co.zw> 

 


 

                                      

Zimbabwe looks to alleviate foreign currency shortages-mines minister

CAPE TOWN (Reuters) - Zimbabwe’s mines minister on Monday said the central
bank governor would soon introduce a monetary policy tool to alleviate
foreign currency shortages that have affected mining companies.

 

“One of the current challenges which the industry is facing relates to
foreign currency retention... The governor will over the next week or two
come up with monetary policy intervention which would address that issue,”
minister Winston Chitando said in a presentation on the sidelines of an
African mining conference.

 

Zimbabwe’s gold miner RioZim last year closed its three mines due to a
shortage of dollars, the company said in a letter to the central bank seen
by Reuters.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 <mailto:info at bulls.co.zw> 

 



Zambia will enforce copper import tax - mining minister

CAPE TOWN (Reuters) - Zambia is determined to enforce a new 5 percent copper
import duty, as part of a plan to keep a greater share of mineral resource
profits for the country and tackle its debt, Mining Minister Richard Musukwa
said.

 

Musukwa was speaking on the sidelines of the Indaba mining conference in
Cape Town, where government ministers and mining executives are debating how
to attract investment and how to strike the right balance between
resource-holding governments and foreign companies.

 

Vedanta has said it would suspend operations in Zambia, although the
minister said it had yet to do so, while Barrick has said it is exploring
options for its Zambian copper mine. Vedanta declined to comment on Monday.

 

Musukwa said he was open to dialogue with the international miners and
Zambia, Africa’s second-biggest copper producer, would remain a stable
investment regime with no plans to increase state ownership.

 

“We appreciate that the investors are bringing in resources. They are
bringing in expertise. We keep a small percentage for checks and balances
and currently it sits around 15 to 20 percent. We have no plans to increase
beyond those measures,” he told Reuters in an interview.

 

The new taxes, which also include a royalty on copper production that
increases as commodity prices rise, were “well-thought-out and logically
calculated with the inputs of stakeholders, even the mining companies”, he
said.

 

Most miners had accepted them, he said, but he was talking to mining
executives, including the CEO of Barrick, in Cape Town about some of their
concerns.

 

“The government is open for discussion. These taxes are not meant to be one
size fits all,” he said, while saying he was determined to stick with a tax
on imported copper concentrate produced from rough ore.

 

“As we see it, the government is resolved that mining houses have to pay for
that,” he said, referring to the 5 percent import levy.

 

“They don’t need to import. They must develop their licences. They must
employ our people and improve our economic performance.”

 

Mark Bristow, CEO of Barrick Gold Corp, told reporters in Cape Town the new
taxes had put its Zambian copper mine “under pressure”.

 

“Zambia should be a preferred place for investors to go and mine copper,” he
said.

 

 

 

South Africa's Eskom sees wider loss, seeks higher power tariffs

JOHANNESBURG (Reuters) - South Africa’s struggling power firm Eskom expects
to make a wider 20 billion rand ($1.5 billion) loss in the current financial
year and wants steeper tariff hikes than it previously sought, its chief
financial officer said on Monday.

 

The chief executive also said the government should consider injecting extra
capital into state-owned Eskom to help it cope with what he said were low
electricity tariffs.

 

Eskom, which previously forecast a 15 billion rand loss in the financial
year ending in March, is vital to South Africa’s economy because it supplies
more than 90 percent of its power but is drowning in around 420 billion rand
of debt.

 

South African President Cyril Ramaphosa is trying to turn around the ailing
company and has said he will announce a plan to shore up its finances in the
coming weeks.

 

Chief Executive Officer Phakamani Hadebe told a mining conference in Cape
Town the government should consider splitting up the utility, using the term
“functionally unbundling”. He also said the government should recapitalise
the company.

 

Chief Financial Officer Calib Cassim said in Johannesburg the larger
forecast loss would be due to higher-than-anticipated power plant
maintenance costs and increased use of diesel and gas, which is typically
more costly than coal for generation.

 

Cassim said Eskom was now requesting electricity tariff hikes of 17.1
percent in 2019/20, 15.4 percent in 2020/21 and 15.5 percent in 2021/22,
steeper than a previous application for increases of 15.0 percent in each of
those three years.

 

Eskom said the new request was based on changes to its sales forecasts and
production plans, arguing that a significant amount of time had elapsed
since it made its initial request.

 

South Africa’s energy regulator is expected to make a decision on Eskom’s
tariff request in March this year.

 

“We need Eskom to be sustainable to supply electricity,” Cassim told a
public hearing on the tariff increases.

 

“We are using one credit card to pay for another,” he said, saying Eskom was
funding debt servicing with further borrowing.

 

If granted the revised tariff hikes, Eskom would still only turn a profit in
2022, Cassim said, showing the challenge facing the firm.

 

($1 = 13.3404 rand)

 

 

 

Botswana forecasts slower economic growth, deficit unchanged

GABORONE (Reuters) - Botswana’s economy is expected to expand at a slower
pace in 2019 compared with last year, Finance Minister Kenneth Matambo said
on Monday.

 

The diamond-producing southern African nation’s economy is projected to slow
down, expanding by 4.2 percent in 2019 from 4.5 percent last year, Matambo
said in his 2019 budget speech to parliament.

 

The 2019 budget deficit is estimated at 3.5 percent of gross domestic
product (GDP), the same as 2018’s estimated shortfall, Matambo said.

 

“The slower economic growth means less revenues will be realized and this
calls expenditure control for the country to remain on path fiscal
sustainability,” he said.

 

Matambo said total expenditure and net lending for the 2019/20 financial
year was estimated at 67.54 billion pula ($6.50 billion), whilst total
revenue and grants were estimated at 60.20 billion pula.

 

Mineral revenue was still the highest contributor to revenue, representing
35.62 percent, he said.

 

($1 = 10.3950 pulas)

 

 

South Africa's MTN expects 20 percent boost to 2018 earnings per share

JOHANNESBURG (Reuters) - South African telecoms giant MTN said on Monday it
expected to see a 20 percent improvement in earnings per share last year
compared with 2017.

 

Headline earnings per share is a key profit measure in South Africa that
strips out one-off items.

 

Africa’s biggest mobile phone operator reported headline earnings per share
of 182 cents and attributable earnings per share of 246 cents for the prior
financial year.

 

Following the announcement, MTN shares recovered some earlier losses to
stand at 87.60 rand per share, down 0.57 percent, at 0924 GMT.

 

 

 

Kenyan shilling strengthens to a six-month high against the dollar

NAIROBI (Reuters) - The Kenyan shilling strengthened to its strongest level
in six months against the dollar on Monday due to hard currency inflows from
horticulture exports and offshore investors buying government debt amid thin
oil importer demand, traders said.

 

At 0649 GMT, commercial banks quoted the shilling at 100.20/40 per dollar, a
level last traded in September last year, compared with 100.40/60 at
Friday’s close.

 

 

UK approves Vijay Mallya extradition to India

UK Home Secretary Sajid Javid has approved the extradition of Indian
business tycoon Vijay Mallya, who faces fraud charges back home.

 

The move comes two months after a London court ruled that he should be sent
back for trial.

 

Mr Mallya, whose business empire once included Kingfisher beer, left India
in March 2016 after defaulting on debts of more than $1bn (£785m).

 

He now has 14 days to appeal against the decision.

 

He denies "fleeing" from India and says he made an "unconditional" offer to
pay back the sum in full in July last year.

 

High-profile figure

Mr Mallya built his fortune from Kingfisher beer before branching out into
Indian cricket and Formula 1 racing. He set up the now defunct Kingfisher
Airlines in 2005.

 

He faces a raft of charges relating to financial irregularities at
Kingfisher Airlines. His monetary affairs are being investigated by India's
Central Bureau of Investigation and the Enforcement Directorate, which
handles financial crimes.

 

In 2012, Mr Mallya sold a majority stake in his United Spirits group to UK
drinks giant Diageo. The deal was supposed to help Mr Mallya reduce United
Spirits' debts and free up funds for Kingfisher Airlines.

 

But the airline, which was grounded in 2012, lost its flying permit the
following year. It made annual losses for five years in a row and finally
collapsed after lenders refused to give it fresh loans.

 

Mr Mallya's total debts, including unpaid wages and operating costs, are
estimated to exceed $1bn.

 

He is a high-profile figure who has in the past been called "India's Richard
Branson" and the "King of Good Times" for his lavish lifestyle.--BBC

 

 

 

US-China trade war: UN warns of 'massive' impact of tariff hike

A US proposal to raise tariffs on Chinese goods next month would have
"massive" implications for the global economy, a UN report said.

 

The US plans to increase tariffs on Chinese goods if the two sides fail to
make progress on a trade deal by 1 March.

 

The report also said US and Chinese firms won't benefit greatly from the
protectionist policies.

 

It added that Asian countries are likely to suffer the greatest impact.

 

The US and China are locked in a damaging trade dispute that has seen both
sides levy tariffs on billions of dollars worth of one another's goods.

 

In December, both countries agreed to hold off on new tariffs for 90 days to
allow for talks.

 

The US and China have a deadline of 1 March to strike a deal, or the US has
said it will increase tariff rates on $200bn (£152bn) worth of Chinese goods
from 10% to 25%.

 

China hails 'progress' in US trade talks

Will the US and China reach a trade deal?

The UN Conference on Trade and Development (Unctad) has warned that there
will be huge costs if the trade war escalates.

 

"The implications are going to be massive," Pamela Coke-Hamilton, Unctad's
head of international trade, said at a news conference.

 

"The implications for the entire international trading system will be
significantly negative."

 

Smaller and poorer countries would struggle to cope with the external
shocks, she said.

 

The higher cost of US-China trade would prompt companies to shift away from
current east Asian supply chains.

 

Unctad's report estimates that east Asian producers will be hit the hardest,
with a projected $160bn contraction in the region's exports.

 

But it warns the effects could be felt everywhere.

 

"There'll be currency wars and devaluation, stagflation leading to job
losses and higher unemployment and more importantly, the possibility of a
contagion effect, or what we call a reactionary effect, leading to a cascade
of other trade distortionary measures," Ms Coke-Hamilton said.

 

Unexpected winners and losers

The higher cost of US-China trade would prompt companies to shift away from
current east Asian supply chains, but report suggests it's unlikely that US
firms would pick up that business.

 

The study found that US firms will only pick up 6% of the $250bn in Chinese
exports that are subject to US tariffs.

 

Firms look to new factories as tariffs bite

Of the approximately $85bn in US exports that are subject to China's
tariffs, only about 5% will be taken up by Chinese firms, the UN research
shows.

 

The study found that European exports will grow by $70bn, while Japan,
Canada and Mexico will see exports increase by more than $20bn each.

 

Other countries that could benefit include Australia, Brazil, India, the
Philippines and Vietnam, the report said.--BBC

 

 

 

Banned Turkmenistan Airlines leaves thousands stranded

Thousands of passengers have been left stranded after air regulators
grounded Turkmenistan Airlines for safety reasons.

 

The UK's Civil Aviation Authority said flights from Birmingham and London's
Heathrow to Amritsar, and Heathrow to New Delhi - which fly via Ashgabat,
Turkmenistan - had been suspended.

 

The CAA acted after the European Aviation Safety Agency suspended permission
for it to fly in the EU.

 

It also flies from Frankfurt and Paris.

 

Set up in 1992 by the former Soviet Union state, its route to Amritsar is
popular with the British Punjabi population.

 

The Foreign and Commonwealth Office (FCO) said the European Aviation Safety
Agency had suspended the airline's flights to and from the EU "pending
confirmation that it meets international air safety standards".

 

"This means that Turkmenistan Airlines flights between the UK (London
Heathrow and Birmingham) and Turkmenistan (Ashgabat), do not have permission
to travel to and from the UK," the FCO said.

 

Affected passengers are advised to contact Turkmenistan Airlines to seek
advice, the FCO said.

 

The budget airline also offers flights from Birmingham and London Heathrow -
via Asghabat - to various other locations such as Bangkok and Beijing.

 

The CAA said: "Passengers who have travelled may need to make their own
arrangements to return home".

 

It lists Air India, British Airways, Jet Airways, Virgin Atlantic and
Turkish Airlines as potentially offering alternative routes.

 

Those who have booked but are now unable to fly will have to contact the
airline for a refund.

 

"Passengers who booked directly with the company via either a credit, charge
or debit card may alternatively be able to make a claim against their card
provider," the CAA said.

 

Those who booked through an airline ticket agent, should speak to the agent
in the first instance, the CAA said.

 

The was no obvious information on the company's website which also appeared
to be allowing new bookings still to be made.

 

Can I get my money back?

Passengers seeking a refund for unused tickets are being advised to contact
the airline directly

 

If you've paid by credit card for your flight, and paid more than £100, you
may be able to claim compensation from your credit card firm under Section
75 of the Consumer Credit Act 1974.

 

If you've paid by debit card, and paid more than £100, you could try to
contact your bank and ask about "chargeback". However, to get this form of
compensation, your bank would need to claw back your money from the airline
directly.

 

If you booked through a travel agent which is ATOL-protected, you may be
able to claim compensation via your travel agent.

 

If you have travel insurance, and your insurance covers insolvency, you may
be able to claim from your insurance firm.--BBC

 

 

 

Australia banking inquiry: 'Scathing' report calls for industry overhaul

A national inquiry into Australia's scandal-plagued financial sector has
proposed sweeping changes in an attempt to end rampant industry misconduct.

 

The Royal Commission spent 12 months investigating wrongdoing by some of the
nation's biggest institutions.

 

It exposed revelations that caused shock nationwide. Prominent scandals
included the charging of fees for no service - sometimes to dead customers.

 

The government said it would act on all 76 recommendations made by the
inquiry.

 

The Royal Commission - Australia's highest form of public inquiry - came
after a decade of scandals that shook confidence in the country's largest
industry.

 

After the report was made public on Monday, Treasurer Josh Frydenberg said
the public had paid an "immense" price for the misconduct.

 

"It's a scathing assessment of conduct driven by greed and behaviour that
was in breach of existing law and fell well below community expectations,"
he said.

 

"There have been broken businesses, and the emotional stress and personal
pain has broken lives."

 

What did the inquiry hear?

The Royal Commission received more than 10,000 public submissions. It
interviewed over 130 witnesses in public hearings.

 

Much focus centred on customers who had been exploited - and some left
financially ruined - by banks and industry advisers.

 

The inquiry heard that banks collected fees for non-existent services and
some institutions admitted they had even charged fees to dead customers,
including the country's largest lender, Commonwealth Bank of Australia.

 

The bank customers who lost everything

Australia bank charged fees to dead clients

Banking abuses 'driven by greed'

The other "Big Four" banks - National Australia Bank, ANZ and Westpac - also
came in for scrutiny during the hearings, as did numerous other financial
institutions.

 

What did it recommend?

The report made 76 recommendations for reform, including:

 

More than 20 unidentified cases to be referred on to regulators, resulting
in possible criminal or civil prosecutions

There should be an overhaul of the sector's sales culture to reduce
conflicts of interest

Regulators need to more regularly prosecute breaches, or lose some of their
powers.

What happens now?

Mr Frydenberg said the government would move "immediately" to legislate some
reforms.

 

The government has been criticised for initially resisting the probe, which
it later described as "regrettable but necessary" action to restore public
trust in the system.--BBC

 

 

 

Nissan £60m in doubt after investment U-turn

Nissan will be forced to reapply for nearly £60m of taxpayer support after
backtracking on a promise to build its X-Trail SUV in Sunderland.

 

A letter from the government to Nissan, written in 2016, revealed that the
Japanese carmaker would only get the money if it made the car in the UK.

 

The government clarified that Nissan had received just £2.6m of the funds,
but would have to reapply for the rest.

 

Business Secretary Greg Clark said the X-Trail would have created 741 UK
jobs.

 

But he told the House of Commons that Nissan had committed to building its
Qashqai, Juke and Leaf models in Sunderland, where it employs 7,000 workers.

 

Mr Clark also said: "While the decision was made on broader business
grounds, Nissan commented on the need for us to come together and resolve
the question of our future trading relationship with the EU. I believe their
advice should be listened to and acted upon."

 

In the 2016 letter from Mr Clark to Nissan's then boss, Carlos Ghosn, he
said the funding was contingent "on a positive decision by the Nissan board
to allocate production of the Qashqai and X-Trail models to the Sunderland
plant".

 

Mr Ghosn has since been sacked as Nissan's chairman and is in detention in
Japan following claims of financial misconduct.

 

Mr Ghosn has denied the allegations.

 

Simon Jack: The real reasons Nissan pulled its investment

Nissan chooses Japan over UK for new car

Carmakers fear rising trade barriers after Brexit

Nissan had originally asked for £80m in state support, but following a
review by an independent advisory committee, that figure was reduced to
£61m.

 

A spokesman for the Department for Business, Energy and Industrial Strategy
said Nissan has been given £2.6m and would have to reapply for the remaining
£58.4m.

 

On Sunday, when Nissan announced its decision not to build the X-Trail SUV
in Sunderland, the firm's Europe chairman, Gianluca de Ficchy, said that
"the continued uncertainty around the UK's future relationship with the EU
is not helping companies like ours to plan for the future".

 

The government had to clarify its position after Business Minister Richard
Harrington told the BBC that Nissan would get the £61m support payment.

 

Mr Harrington told BBC Newcastle: "The £60m still stands. It's to do with
research and development and developing alternative technologies and making
sure Nissan is at the forefront of that.

 

"This was nothing to do with the X-Trail."

 

Critical priority

Following the UK's vote to leave the European Union in June 2016, Mr Ghosn
had hinted that he would seek compensation if car exports to Europe were
subject to tariffs.

 

Mr Ghosn met Prime Minister Theresa May to discuss the future of Nissan's
plant in Sunderland, after which he said he was "confident" that the
government would keep the UK a competitive place to do business after it
leaves the EU.

 

In the letter to Mr Ghosn, Mr Clark said: "It will be a critical priority of
our negotiation to support UK car manufacturers and ensure that their
ability to export to and from the EU is not adversely affected by the UK's
future relationship with the EU."

 

Rachel Reeves MP, chair of the Business, Energy and Industrial Strategy
committee said Nissan's decision not to built the X-Trail in the UK "is a
blow to production at Sunderland".

 

She added: "The government's mishandling of Brexit, the reluctance to rule
out 'no deal' and the lack of certainty around our future trading
relationship with our biggest and nearest trading partner has made this
decision sadly predictable, no matter what assurances may have been provided
in the past."--BBC

 

 

 

Cadbury loses legal battle over purple wrapper

Cadbury has lost more ground in its long-running battle to protect the
particular purple it uses to wrap its chocolate.

 

After losing an appeal last month, Cadbury has given up a trademark.

 

Lawyers said the company may have decided the trademark application is
unenforceable after a court ruled it was too wide-ranging.

 

The move makes it harder for Cadbury to stop a rival from using a similar
colour for its products, a lawyer said.

 

In 2012 Cadbury won a case to stop other chocolate firms using the colour -
known as Pantone 2865c.

 

Nestle challenged that, and in 2013 won an appeal.

 

The Court of Appeal said at the time the trademark application lacked "the
required clarity, precision, self-containment, durability and objectivity to
qualify for registration".

 

'Very strict'

Cadbury's original trademark application aimed to protect the colour
"applied to the whole visible surface, or being the predominant colour" of
the wrappers on bars and tablets of chocolate.

 

It is the "predominant" part that is seen as the problem, Rebecca
Anderson-Smith, a trade mark attorney at Mewburn Ellis in Bristol, told the
BBC.

 

"I think the courts and trademark offices are very strict with colour
trademarks," she said. "They don't want to give anyone a monopoly on the
colour purple."

 

It will now be "harder for Cadbury to stop a third party from using a
similar colour," she said.

 

Cadbury's most recent move was to claim the trade mark had two parts and
then remove the part that was about predominant colour.

 

This failed in December. And the company then dropped a 1995 trademark with
similar wording, probably realising it was unenforceable, she said.

 

Brand defence

Will we be seeing rivals pounce and sell chocolates with a similar colour?

 

"We have not appealed but will continue to protect what we believe is a
distinctive trademark," Cadbury's US owner Mondelez, said.

 

Cadbury does have at least one more trademark from 2004, said Ms
Anderson-Smith, although it uses similar wording.

 

Finally, the company could argue that it has unregistered trademark rights.

 

Those protect customers from being confused by firms that deliberately make
products that look similar to established brands.

 

But this would be a much harder thing to enforce, Ms Anderson-Smith said,
since extensive use of the trade mark must be proved.--BBC

 

 

Denmark expels two Huawei staff after inspecting permits

Denmark has deported two Huawei workers after finding they had flouted work
and residence permit rules.

 

Police said it was part of a policy of regular checks on companies with
large numbers of foreign workers.

 

They said the inspection had nothing to do with the recent controversy
surrounding the Chinese telecoms giant.

 

Huawei has been at the centre of controversy, due to growing scrutiny over
its ties with the Chinese government.

 

The firm, one of the world's biggest producers of telecoms equipment, has
faced resistance from foreign governments over the risk that its technology
could be used for espionage.

 

Huawei has denied claims it poses a spying risk.

 

The company has so far failed to respond to requests for comment.

 

A Huawei spokeswoman told Bloomberg: "These visa checks are routine, and we
are co-operating with the authorities."

 

Separately, Norway's intelligence service PST has issued a warning about
about the company.

 

"One has to be attentive about Huawei as an actor and about the close
connections between a commercial actor like Huawei and the Chinese regime,"
the PST's head, Benedicte Bjornland, said.

 

"An actor like Huawei could be subject to influence from its home country as
long as China has an intelligence law that requires private individuals,
entities and companies to cooperate with China," she added.

 

Profit fears

Several countries, including the US, have banned Huawei 5G telecoms
equipment citing security reasons.

 

Restrictions on Huawei's ability to sell its 5G gear to overseas mobile
networks threaten its profits, after it has spent huge sums on developing
the technologies.

 

In the UK, for example, BT has already said it will not use the firm's
equipment in the "core" of its network, although it still plans to use its
phone mast antennas and other products elsewhere.

 

But even this could be constrained if the government decides to act on "deep
concerns", voiced by the Defence Secretary Gavin Williamson, on the use of
its kit.

 

The company has reportedly written to staff saying jobs may need to be cut
if it has to lower its targets.

 

Huawei, however, remains confident about the performance of its handset
business, which continues to grow despite it failing to secure a
distribution deal with a US network.

 

The unit shipped 208 million handsets in 2018, putting it behind only
Samsung.--BBC

 

 

 

 


 

 


 

INVESTORS DIARY 2019

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


Nampak

AGM

68 Birmingham Road, Southerton

06 Feb 2019 - 12pm

 


Ariston

AGM

Royal Harare Golf Club

19 Feb 2019 - 2:30pm

 


Zimbabwe

Robert Mugabe National Youth Day

Zimbabwe

21 Feb 2019

 


Powerspeed

AGM

Boardroom, Gate 1, Powerspeed Complex, Graniteside

28 Feb 2019 - 11am

 


Zimbabwe 

Independence Day

Zimbabwe

18 Apr 2019 

 


 

Good Friday

 

19 Apr 2019

 


 

Easter Saturday

 

20 Apr 2019

 


 

Easter Sunday

 

21 Apr 2019

 


 

Easter Monday

 

22 Apr 2019

 


 

Workers Day

 

01 May  2019

 


 

Africa Day

 

25 May 2019

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 


 

 

 

 


 <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) 2019 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/20190205/fb449bc3/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/20190205/fb449bc3/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 42387 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20190205/fb449bc3/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/20190205/fb449bc3/attachment-0008.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 29388 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20190205/fb449bc3/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/20190205/fb449bc3/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/20190205/fb449bc3/attachment-0011.jpg>