Major International Business Headlines Brief::: 22 May 2019

Wed May 22 04:33:34 CAT 2019

 <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::: 22 May 2019

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

*  Nigeria central bank holds benchmark interest rate at 13.5 pct

*  Zambian court appoints provisional liquidator of Vedanta's Konkola Copper
Mines

*  Egypt's central bank expected to hold key rates steady

*  Congo Republic senate approves restructuring of China debt

*  Nigeria's Trans Forcados pipeline remains closed after fire

*  Rand weakens in cautious trade ahead of inflation, rates decision

*  S.Africa's Amplats fires over 600 underground workers at its Mototolo
mine

*  Nigeria's economic growth slows in Q1 as oil sector shrinks

*  British Steel future hanging in the balance

*  Shoe giants urge Trump to end trade war

*  TalkTalk data breach customer details found online

*  Maternity rights bill could make things worse, campaigner says

*  Urban Outfitters to rent out clothing

 <mailto:info at bulls.co.zw> 

Nigeria central bank holds benchmark interest rate at 13.5 pct

ABUJA (Reuters) - Nigeria’s central bank held its benchmark interest rate at
13.5%, its governor Godwin Emefiele said on Tuesday, after a surprise 0.5
percentage point cut at the previous meeting.

Most analysts polled by Reuters had expected no change.

 <mailto:info at bulls.co.zw> 

Zambian court appoints provisional liquidator of Vedanta's Konkola Copper
Mines

LUSAKA (Reuters) - Zambia’s High Court on Tuesday appointed a legal firm as
a provisional liquidator of Vedanta-controlled Konkola Copper Mines,
according to a court document seen by Reuters.

The document named Zambian law firm Lungu Simwanza & Company to oversee KCM
a day after the president said Zambia planned to strip the company of its
mining licence and bring in a new investor.

According to the court document, the firm is appointed to act “as
provisional liquidator” until the conclusion of the hearing of a petition,
brought by Zambia’s mining investment arm ZCCM-IH under Zambia’s corporate
insolvency act, or a further order.

KCM’s parent Vedanta had no immediate comment.

Presidential spokesman Amos Chanda told Reuters on Monday the government had
to intervene “because KCM is too big to fail”.

“The government is actively in talks with potentially private investors for
KCM,” he added. “There will be no takeover. No seizure of private assets.”

International miners have warned Zambia will deter foreign investment at a
time when it is in great need of finances to pay off high levels of debt.

Zambia, Africa’s second-biggest copper producer, has proposed tax changes
that President Edgar Lungu says he will push through, despite opposition
from international miners.

Egypt's central bank expected to hold key rates steady

CAIRO (Reuters) - Egypt’s central bank is expected to keep interest rates
steady at its meeting on Thursday, a Reuters poll showed on Tuesday, with
most analysts saying a cut is unlikely ahead of fuel price increases due
this summer.

Eleven out of 14 economists polled by Reuters said the Central Bank of
Egypt’s (CBE) monetary policy committee was unlikely to change its overnight
rates, with deposits at 15.75% and lending at 16.75%.

Two analysts predicted the CBE would trim its key rates by 50 basis points
(bps) and one expected a cut of 100 bps.

“Inflation has tamed slightly and the Egyptian pound has been firm,” Angus
Blair, chairman of business and economic forecasting think-tank Signet said
via a WhatsApp message.

“This positive economic window (before further hydrocarbon subsidy cuts push
inflation higher in a few months) should see a cut in the bank rates to help
reduce the government interest costs, allowing for greater fiscal
manoeuvrability.”

Still, most analysts said the forthcoming fuel subsidy cuts and worries over
the U.S.-China trade conflict were likely to weigh on the CBE decision.

“The CBE will likely be reluctant to change its monetary stance at this
point, given the anticipated energy subsidy cuts expected next month,” said
Hany Farahat, senior economist at Egyptian investment bank CI Capital.

TOUGH MEASURES

Egypt is due to lift remaining subsidies on most fuel products by mid-June
as part of an economic reform programme tied to a $12 billion, three-year
loan with the International Monetary Fund agreed in 2016.

Other measures agreed under the loan include a sharp devaluation of the
currency and introducing a value-added tax.

“While inflation decelerated in April, we think the CBE is likely to opt not
to act on rates until after the upcoming fiscal measures are implemented,”
said Mohamed Abu Basha, an economist at Egyptian investment bank EFG Hermes.

Headline inflation decelerated to 13% in April from 14.2% in March. It had
fallen slightly in March from 14.4% in April, its highest since November.
The bank’s target range is 10% to 16%.

Core inflation, which strips out volatile items such as food, also fell in
April to 8.1% from 8.9% the previous month.

After a surprise cut in February, the CBE held rates steady at its March 28
meeting, saying the decision was “consistent with achieving the inflationary
target of 9%” by the fourth quarter of 2020.

Analysts said the CBE would likely wait until the fourth quarter of 2019 for
further monetary easing, given the fuel subsidy cuts and the concerns over
global trade.

“A patient stand is required at this stage to assess the impact of all
possible outcomes of the current trade conflicts,” said Mona Bedir, senior
economist at Egyptian investment bank Prime Holding.

“We expect the CBE will maintain policy rates stable during Q3 and resume
with easing in Q4 2019,” Farahat said.

Congo Republic senate approves restructuring of China debt

DAKAR (Reuters) - Congo Republic’s senate on Monday voted to restructure
some of its debt with China, a move that the International Monetary Fund has
said was necessary to unlock financial support, the finance ministry said.

Negotiations over a bailout for the oil-dependant economy have dragged on
since 2017, as Congolese authorities failed to convince the IMF they were
doing enough to control the national debt or tackle corruption.

But an IMF mission said this month that it had agreed a three-year lending
programme with Congo Republic subject to the government’s fulfilment of
reforms and approval by the IMF’s executive board.

The government signed an agreement with Beijing in April to restructure more
than $2.5 billion in debt.

Congo’s Senate voted to approve the restructuring of loans from China’s
Import-Export Bank, which includes eight credit agreements between Congo and
China, the finance ministry said in a statement.

This does not make up the whole $2.5 billion of Chinese debt, it added.

Nigeria's Trans Forcados pipeline remains closed after fire

LONDON (Reuters) - Nigeria’s Trans Forcados pipeline remains closed but no
force majeure has been declared, a Shell spokeswoman said on Tuesday, after
a fire broke out on Sunday.

The shutdown is a blow to the Forcados exports of roughly 240,000 barrels a
day. Shell manages the crude export terminal, while Heritage Energy operates
the pipeline.

A spokesman for Heritage said on Monday there was a fire near the pipeline
on Sunday but did not say whether the pipeline itself was affected.

Heritage did not immediately respond to request for comment on Tuesday.

“The fire is still raging,” said Collins Edema, who lives near the site of
the incident.

“The pipeline is long due for replacement and leaks from time to time.
Repairs were going on there on a leaking portion when the fire broke out,
burning the pipeline, the pumping machine and other equipment the
contractors were using for repairs,” he said.

Rand weakens in cautious trade ahead of inflation, rates decision

JOHANNESBURG (Reuters) - South Africa’s rand backtracked on Tuesday,
surrendering the previous session’s small gains in cautious trade as
investors awaited key data release later in the week.

At 0730 GMT the rand was 0.49% weaker at 14.4600 per dollar from an
overnight close of 14.3900 in New York, with upcoming consumer inflation
data and a central bank decision on lending rates capping any large bets.

“Local incoming USD flows saw the rand trade marginally firmer on the day
(on Monday). The markets await insights regarding (the appointment of new)
Cabinet members and the outcome of the MPC on Thursday,” Nedbank analyst
Reezwana Sumad said in a note.

A Reuters poll of economists and analysts conducted last week forecast the
central bank will leave interest rates unchanged at 6.75%, with inflation
expected to remain within the Reserve Bank’s 3-6% target range.

Statistics South Africa publishes April consumer figures on Wednesday at
0800 GMT.

“Internationally, the focus remains on the ongoing trade-war scenarios,”
Sumad said.

Washington’s decision to ease some of its restrictions on Chinese telecoms
giant Huawei late on Monday saw some demand trickle back into emerging
markets, which may support the rand as the session wears on.

South African government bonds were weaker, with the benchmark 10-year issue
adding 2 basis points to 8.52 percent.

S.Africa's Amplats fires over 600 underground workers at its Mototolo mine

JOHANNESBURG (Reuters) - Anglo American Platinum (Amplats) said on Monday it
fired about half of the underground workers at its Mototolo mine following
an illegal strike.

Workers belonging to the General Industrial Workers Union of South Africa
(GIWUSA) downed tools on May 12 following a dispute over the employees’
medical scheme, despite an interim court interdict against any strike
action, Amplats said.

The precious metals producer said it dismissed 643 employees at Mototolo,
which produced 57,700 ounces of platinum group metals in the first quarter
of 2019, after its appeal to end the strike was ignored.

A union official at GIWUSA, which is the only recognised union at the mine,
said they would approach the labour court over the dismissals.

Amplats said the sacked employees had until May 21 to appeal the decision.

The firm said the impact on production had so far been minimal.

“Anglo American Platinum is exploring options to ensure that Mototolo Mine
recommences full production as soon as practically possible,” it said in a
statement.

Amplats acquired Glencore’s 39% stake in the mechanised platinum mine on the
eastern limb of South Africa’s platinum belt in 2018.--BBC

Nigeria's economic growth slows in Q1 as oil sector shrinks

ABUJA (Reuters) - Growth in Nigeria’s fragile economy slowed to 2.01% in the
first quarter as the country’s dominant oil sector shrank, the National
Bureau of Statistics said on Monday.

The annual pace dropped from the previous quarter’s 2.38%, when activity was
likely to have been boosted by state spending in the run-up to February and
March elections in which President Muhammadu Buhari won a second term.

Nigeria’s central bank has forecast growth of 3% for 2019.

The largely crude-dependent economy emerged from recession in 2017 and has
been recovering in great part due to higher oil prices.

In the first quarter the non-oil sector grew 2.47% while the oil sector
shrank 2.40%, according to the statistics office. Crude production rose
slightly to 1.96 million barrels per day from 1.91 million in the previous
quarter.

Growth in the first quarter of 2018 was 1.89%.--BBC

British Steel future hanging in the balance

The future of 5,000 British Steel workers remains uncertain as its owners
continue to lobby for government backing.

The UK's second-biggest steel maker had been trying to secure £75m in
financial support to help it to address "Brexit-related issues".

If the firm does not get the money it would put 5,000 jobs at risk and
endanger 20,000 in the supply chain.

Labour has urged the government to nationalise British Steel.

The company's request for emergency support from the government is
understood to have been reduced from £75m to about £30m.

In April, British Steel borrowed £100m from the government to enable it to
pay an EU carbon bill, so it could avoid a steep fine.

The government said it would leave "no stone unturned" in its support for
the steel industry.

British Steel's main plant is at Scunthorpe, but it also has a site in
Teesside.

According to think-tank IPPR, allowing British Steel to collapse would lead
to £2.8bn in lost wages over a 10-year period and cost the government £1.1bn
in lost revenue and extra benefit payments.

Such a decision would also reduce household spending by £1.2bn, which would
have an impact on the economy.

IPPR's chief economist Carys Roberts said: "We need a UK-wide industrial
strategy that supports strong supply chains, including the foundation
industries such as steelmaking that manufacture core materials for use in
other industries."

Last Thursday, British Steel said it had the backing of shareholders and
lenders and that operations were continuing as usual while it sought a
"permanent solution" from the government to its financial troubles.

It is understood that along with administration, nationalisation or a
management buyout are being discussed as fall-back options for the company.

British Steel's troubles have been linked to a slump in orders from European
customers ‎due to uncertainty over the Brexit process.

The firm has also been struggling with the weakness of the pound since the
EU referendum in June 2016 and the escalating trade US-China trade war.

One of its biggest customers is Network Rail, 95% of whose rails are
supplied by British Steel's Scunthorpe plant.

In 2007, India's Tata conglomerate entered the UK steel market when it
bought the Anglo-Dutch group, Corus. In 2010, the business was renamed Tata
Steel Europe.

After a difficult few years, Tata sold the Scunthorpe long products division
to private equity firm Greybull Capital for a nominal £1.

Greybull's rescue came during the depths of the steel crisis in 2016 and
saved more than 4,000 jobs.

It then rebranded the company as British Steel and recently returned it to
profit.--BBC

Shoe giants urge Trump to end trade war

Some of the world's biggest footwear firms are urging Donald Trump to end
the US trade war with China, warning of a "catastrophic" effect on
consumers.

In a letter signed by 173 companies, including Nike and Adidas, they said
the President's decision to hike import tariffs to 25% will
disproportionately impact the working class.

They also warn that higher levies threaten the future of some businesses.

"It is time to bring this trade war to an end," the firms urged.

Mr Trump increased levies on $200bn (£157.3bn) worth of Chinese imports into
the US from 10% to 25% more than a week ago after Washington and Beijing
failed to reach a deal on trade.

China retaliated by announcing plans to raise levies on $60bn of US imports
from 1 June.

US-China trade war: What could Beijing do next?

Who loses out in the US-China trade war?

The footwear companies that signed the letter, including Clarks, Dr Martens
and Converse, claim that while the average US tariff on footwear is 11.3%,
in some cases it can reach as high as 67.5%.

"Adding a 25% tax increase on top of these tariffs would mean some working
American families could pay a nearly 100% duty on their shoes," the
companies wrote.

"This is unfathomable."

When he raised tariffs earlier this month, Mr Trump told companies that they
could reduce costs by shifting production to the US.

However, the shoemakers and retailers say that while they have been moving
their sourcing away from China: "Footwear is a very capital-intensive
industry, with years of planning required to make sourcing decisions, and
companies cannot simply move factories to adjust to these changes."

The US and China are set to meet again to discuss trade at the G20 summit in
Japan next month.

In the meantime, however, the US has increased pressure on China by
declaring a national emergency to protect US computer networks from "foreign
adversaries", affecting Huawei, the Chinese telecoms giant.--BBC

TalkTalk data breach customer details found online

TalkTalk failed to inform 4,545 customers their personal information,
including bank account details, were stolen as part of the 2015 data breach.

Viewers contacted BBC Watchdog Live about concerns that their details had
been breached by TalkTalk.

But the company had told them that their details were not comprised.

"The customer data referred to by BBC Watchdog relates to the historical
October 2015 data breach. It is not a new incident," the firm said.

The BBC consumer show investigated and found the personal details of
approximately 4,500 customers available online after a Google search.

The details included full names, addresses, email addresses, dates of birth,
TalkTalk customer numbers, mobile numbers and bank details for thousands of
customers.

The information is likely to have been online since the breach, without the
knowledge of the people affected.

The 2015 attack saw personal details of nearly 157,000 customers accessed,
including bank account numbers and sort codes of over 15,000 customers.

The Information Commissioner's Office (ICO) conducted an investigation into
the breach, finding multiple failings in TalkTalk's security processes.

As a reflection of "the seriousness of the event", the ICO issued TalkTalk
with a record fine of £400,000.

When presented with the findings of the BBC investigation, TalkTalk said it
was a genuine error and that it has since written to all impacted customers
to apologise.

"The 2015 incident impacted 4% of TalkTalk customers and at the time, we
wrote to all those impacted," the company said in a statement.

"In addition, we wrote to our entire base to inform them about the breach,
advise them about the risk of scam calls and offer free credit monitoring to
protect against fraud.

"A recent investigation has shown that 4,545 customers may have received the
wrong notification regarding this incident. This was a genuine error and we
have since written to all those impacted to apologise. 99.9% of customers
received the correct notification in 2015.

"On their own, none of the details accessed in the 2015 incident could lead
to any direct financial loss."

'Extremely uncomfortable'

For the last two years Alan, not his real name, has had his phone, email and
bank account bombarded with a series of fraudulent attacks.

Whilst Alan will never know if the attacks were a direct result of the
TalkTalk data breach, he feels the details leaked are enough to allow
fraudsters to impersonate him.

Alan said he felt "extremely uncomfortable" after Watchdog Live showed him
that they were able to find his bank account number, sort code and other
personal information online.

"I think they've failed their customers on a gigantic scale," he added.

Watchdog Live also spoke to Maureen, not her real name, who was shocked to
discover that her details were breached in 2015.

At the time, Maureen was told by TalkTalk that her details had not been
stolen.

Maureen has been in touch with TalkTalk on multiple occasions, most recently
in May of this year, to raise concerns that her details had been comprised.

But TalkTalk continued to insist that they hadn't. Watchdog Live's
investigation found Maureen's sensitive data through a simple online search.

Maureen told the programme: "I've been asking this question since 2015. I'm
suffering now for something that I know nothing, absolutely nothing, about.

"I knew something was not right and I kept insisting and they avoided every
single time I asked the question 'have my details been compromised?'"

Fraud attempts

"If the data has come from TalkTalk then obviously we need to go and revisit
all of these people who've been told that they weren't exposed and look at
what they can do to rectify the harm," online security expert Scott Helme
told the programme.

"We're never going to completely erase this data, but what we can do is try
to reduce the impact of having lost the data."

Watchdog Live spoke to multiple people who were affected by the TalkTalk
data breach.

They said they had been subject to frequent scam calls, and in some cases
attempted fraud and identity theft, impacting their credit rating.

These people may never know if their experiences were a direct result of
TalkTalk's data breach, or if their details could have been accessed some
other way.

Using the information Watchdog found, a fraudster could sign up for
services, set up direct debits and purchase goods on their victim's behalf,
said Mr Helme.

He added that a scammer could also use this information to pretend to be the
victim's bank, in order to gain other information about them.--BBC

Maternity rights bill could make things worse, campaigner says

A bill which aims to protect women's jobs when they return to work after
giving birth will have little impact, a pregnancy rights campaigner says.

Politicians want to extend legal protection for women after learning one in
nine mothers in Britain was fired or made redundant when going back to work.

But campaigner Joeli Brearley says the new rule could work against women.

"It could actually make some forms of discrimination worse if employers feel
it's onerous to hire women," she said.

The bill had an initial reading in the Commons on Tuesday and will have its
second reading on Wednesday.

'Minimal difference'

Conservative MP Maria Miller, who chairs the Women and Equalities Committee,
has introduced the bill, urging the introduction of legislation to protect
women from being made redundant during pregnancy and maternity leave, and
for six months after returning to work.

Ms Brearley, founder of campaign group Pregnant Then Screwed, said: "I do
believe Maria Miller's bill will help, but the difference it will make is
minimal.

"Fewer than 1% of women who experience pregnancy or maternity discrimination
even raise a tribunal claim, so if women can't use the law to protect
themselves there's little point in enhancing it.

"So alongside bills like this we would also like to see legislation that
gives women greater access to justice.

"What we want to see from the government is not them pushing the problem
back on to business, which is what this bill is doing, it's saying
employers, 'you deal with this problem'.

"We know that a third of employers avoid hiring women of childbearing age,
so if we make it more onerous for companies to hire women, that will play
out in the recruitment process. Discrimination will occur before women are
even employed and this is an enormous contributor to the gender pay gap."

The latest data on the issue is from a 2016 report commissioned by the
government and the Equality and Human Rights Commission, in which more than
3,000 employers and 3,000 mothers in Britain took part.

It showed that:

*         One in nine mothers (11%) felt forced to leave their job - scaled
up to the general population, that could mean as many as 54,000 women
annually

*         The figure is 4% up on a a similar report a decade earlier

*         Three in four mothers (77%) said they had a negative or possibly
discriminatory experience during pregnancy, maternity leave, and/or on
return from maternity leave

*         Only 3% of mothers took their case to tribunal

*         'Absolutely devastated'

Claire Heptonstall, from Leeds, who worked in the beauty and hairdressing
industry, was made redundant while on maternity leave.

"I was just absolutely devastated," she said.

"I was hurt by it because I just didn't understand why I didn't have a job
to go back to, because I'd been there for so long."

"I felt worthless. I felt like I wasn't appreciated. I'd worked six days a
week doing eight or nine hours for them, I'd go in early, I'd work late, I'd
work from home for them, and then for them to just dismiss me like I was
just a number - I'm not a number, I'm a person and I have feelings and I was
just so upset in what they did."

Claire said she was "mentally stressing" over the situation and worrying
about how to pay the bills and look after her baby.

In the end, she took her employers to a tribunal and won, but said: "It [the
tribunal] was the most daunting thing I've ever had to do. You actually feel
like you're on trial. It's the scariest thing, I felt sick, I was shaking, I
got really ill by it all.

"I'm a single mum, so bringing up a child by yourself is quite hard but then
you have that pressure on top. You just feel so alone and you really don't
know what to do."

Employment lawyer Yunus Lunat says that pregnancy discrimination is
happening "on an industrial scale" and that 99% of cases are covered by
non-disclosure agreements (NDA).

These prevent staff and former staff making information public, and if
somebody breaks an NDA, they could end up being sued.

"Employers feel they can get away with it, because the employee is offered a
sum of money, nowhere near what should be adequate to compensate, but
offered a sum as an inducement to leave," he told the BBC.

"Perhaps if someone is having a difficult pregnancy, uncertainties about the
future - do they really want all this uncertainty about going to tribunal
not knowing what the outcome will be?

"Nine out of 10 women in that situation will just sign the agreement and
move on."--BBC

Urban Outfitters to rent out clothing

The sharing economy is now making its way into the fashion industry as Urban
Outfitters looks to rent clothes to younger fashionistas.

The retailer is launching an online subscription service allowing people to
borrow six items to wear for a month before swapping them.

The firm says that in terms of clothing, millennials in particular want
variety and sustainability.

The womenswear service, called Nuuly, will launch in the US this summer.

Urban Outfitters declined to say if and when it will be offered in the UK,
stating: "The brand is looking forward to the opportunity to further evolve
and expand both their offering and geographic footprint over time."

The nascent market for online clothing rental is set to grow to $2.5bn by
2023, according to research firm GlobalData.

One of the more well-known firms in this space is Rent the Runway, a New
York company which began in 2009, where women can borrow designer clothes
for a monthly payment.

Urban Outfitters' chief digital officer David Hayne told the Wall Street
Journal that he expects Nuuly to have 50,000 subscribers and generate $50m
in sales in its first year.

Urban Outfitters said: "Interest in sharing-economy platforms and recurring
subscription relationships has grown across industries.

"In apparel, the millennial consumer, in particular, is seeking out
platforms that provide novelty, variety and breadth, while also supporting
sustainability."

As well as Urban Outfitters clothing, people can also pay a monthly fee to
borrow womenswear from its other brands including Anthropologie, as well as
labels such as Levi's, Gal Meets Glam, Anna Sui and Fila.

Subscribers can choose to buy an item or return all the clothing they
borrowed before they receive anything else. The returned garments are washed
or dry cleaned and inspected before they are loaned out again,--BBC

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

NMB

AGM

Head Office, 4th Floor, Unity Court

23 May 2019 , 3pm

Africa Day

25 May 2019

Dairibord

AGM

Steward Room, Meikles

31 May 2019, 12pm

Lafarge

AGM

Manresa Club, Arcturus

05 June 2019 , 12pm

CBZ

AGM

Stewart Room, Meikles

05 June 2019 , 3pm

 <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/20190522/fb80087c/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/20190522/fb80087c/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/20190522/fb80087c/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/20190522/fb80087c/attachment-0008.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 29401 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20190522/fb80087c/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/20190522/fb80087c/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/20190522/fb80087c/attachment-0011.jpg>