Major International Business Headlines Brief::: 07 July 2020

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Major International Business Headlines Brief::: 07 July 2020

 


 

 


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ü  Land Bank default forces S.Africa's central bank into $200 mln bailout of state investment arm

ü  South Africa's National Treasury says "no further action" to bailout SAA airline

ü  Kenya Airways to lay off staff, reduce network and assets -CEO

ü  Morocco's economy to contract 13.8% in Q2, 4.6% in Q3 - planning agency

ü  South Africa rand up as risk appetite revives

ü  Keep SMB's Congo coltan mine in supply chains, says mineral tracker

ü  Congo mines minister to meet with firms on confinement moratorium

ü  Sasol gives up licence to seek offshore gas in Mozambique

ü  Egypt's Suez Canal revenues in FY 19/20 fall to $5.72 bln - statement

ü  TikTok to exit Hong Kong ‘within days’

ü  Coronavirus: Japan's household spending slumps at record rate

ü  Coronavirus: China's workers and graduates fear for their future

ü  Vouchers of up to £5,000 for home insulation

ü  Daily Mirror owner Reach to cut 550 jobs as sales fall

ü   

 

 

 

 

 

 

 

 


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Land Bank default forces S.Africa's central bank into $200 mln bailout of state investment arm

JOHANNESBURG (Reuters) - South Africa’s central bank has issued a 3.45 billion rand ($200 million) guarantee to bail out the Corporation for Public Deposits (CPD), a government investment arm hit by surging defaults at state agricultural lender Land Bank.

 

The issue adds a further strain on state finances as the government props up its main power utility and airline, which were already struggling before the coronavirus crisis, and now faces rising defaults at the agricultural lender.

 

CPD, which purchased various debt instruments from Land Bank, said overall it suffered a 2.8 billion rand loss in the 2019/20 financial year, necessitating the central bank bailout.

 

Deputy governor of the Reserve Bank (SARB) and chairwoman of the CPD, Fundi Tshazibana, told Reuters in an interview this week the guarantee was to cover the investment arm’s losses in the 2019/20 period and replenish reserves, which had dwindled to zero.

 

“We had to provision for what we will not be able to recover from the Land Bank. That was one of the reasons why we (central bank) had to provide the guarantee,” said Tshazibana.

 

“Because of the Land Bank default, we were running at a loss and we weren’t going to be a going concern...That would have been of real concern to depositors,” she added.

 

In April the Land Bank, the country’s largest agricultural-focussed lender, defaulted on 50 billion rand of loans repayments and in June it failed to make interest payments of nearly 120 million rand.

 

On Friday the Land Bank told Reuters it had not made interest payments of around 320 million rand on debt which was due end June.

 

The South African Treasury guarantees around 5.7 billion of the Land Bank’s debt and last week granted the firm 3 billion rand of emergency equity funding.

 

 


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South Africa's National Treasury says "no further action" to bailout SAA airline

CAPE TOWN (Reuters) - South Africa’s National Treasury said on Friday there was “no further action” planned to bailout struggling national airline SAA except to settle guaranteed debt as attempts to revive the airline hang on a knife edge.

 

The South African government wants creditors to back a restructuring plan for South African Airways (SAA) but did not allocate new bailouts for the loss-making state airline in an emergency budget last week.

 

In its strongest statement yet that it doesn’t plan on giving SAA more bailouts, the National Treasury told lawmakers they would not provide any new money to the airline as they are “insolvent” and turnaround plans have not been finalised yet.

 

 

 

Kenya Airways to lay off staff, reduce network and assets -CEO

NAIROBI (Reuters) - Kenya Airways will lay off an unspecified number of workers, reduce its network and also get rid of some assets due to the coronavirus crisis, its chief executive said in an internal memo seen by Reuters.

 

The coronavirus crisis has hit the global aviation industry hard, with African carriers alone expected to lose $6 billion this year in revenue.

 

“Our short and medium-term projections indicate that we must inevitably reduce our operations before we begin to scale up again,” Allan Kilavuka wrote in the memo dated July 3, adding that the exercise will be completed by Sept. 30.

 

The carrier, in which Air France-KLM holds a small stake, was struggling long before the outbreak, posting 2019 losses of almost 13 billion shillings ($122.2 million).

 

It cut salaries by as much as 80% when the crisis started, and sought a government bailout to help it take care of running costs after it grounded its planes when Kenya stopped commercial passenger flights to curb the spread of the virus.

 

The government declined to bail it out, opting to press ahead with a pre-pandemic plan to nationalise the carrier, part of wider reforms of the East African nation’s aviation sector.

 

Michael Joseph, the airline’s chairman, said the decision to lay off workers and reduce operations was not informed by the failure to secure a bailout.

 

“We have to face the fact that demand for air travel is going to be reduced significantly for the next 2-3 years,” Joseph told Reuters on Monday, adding that other carriers were taking similar actions.

 

“We have delayed taking this action for too long.”

 

On Friday, the Nairobi bourse suspended trading of Kenya Airways shares for three months, citing the government’s plan to restructure the carrier, after it submitted to parliament a bill on the nationalisation of the airline.

 

($1 = 106.4000 Kenyan shillings)

 

 

Morocco's economy to contract 13.8% in Q2, 4.6% in Q3 - planning agency

Rabat (Reuters) - Morocco’s economy is expected to contract by 13.8% in the second quarter under the impact of the coronavirus lockdown, the state planning agency said on Sunday.

 

It said the economy was expected to shrink by a further 4.6% year-on-year in the third quarter as restrictive measures are loosened.

 

The economy grew 0.1% in the first three months of this year, it said.

 

Both domestic and foreign demand are expected to improve in the third quarter after taking a hit in the previous three months.

 

The central bank forecasts economic growth at -5.2% in 2020 against +2.5% last year.

 

 

 

South Africa rand up as risk appetite revives

JOHANNESBURG (Reuters) - South Africa’s rand gained early on Monday, as the dollar was dragged down by a steady rise of coronavirus infections in the United States.

 

At 0630 GMT, the rand was up 0.66% at 16.9425 per dollar after closing at 17.0500 on Friday.

 

Trading in the Asian session saw a return of risk appetite after last week’s narrow ranges, with demand growing for the rand and other emerging-market currencies.

 

Rising coronavirus infections in the United States have discouraged some investors from taking big positions in the currency market, but most remain focused on the growing likelihood that major economies will continue to recover.

 

“With the U.S. celebrating Independence Day, trading volumes dipped on Friday. Concerns surrounding rising infections – and renewed outbreaks after Fourth of July celebrations,” said analysts at NKC African Economics in a note.

 

“The rand surged stronger during Asian trading this morning driven by improved risk sentiment.”

 

Bonds rose, with the yield on the 2030 government issue down 2 basis points to 9.405%.

 

 

Keep SMB's Congo coltan mine in supply chains, says mineral tracker

JOHANNESBURG (Reuters) - Insecurity around Société Minière de Bisunzu’s (SMB) coltan mine in Democratic Republic of Congo could get worse if it is cut out of supply chains following a deadly grenade attack there, the company running the mine’s mineral tracing scheme said.

 

 

Up to three people were reported killed in the attack on June 23 in Kisura village, which is on an unmined part of SMB’s vast mining concession known as PE 4731.

 

SMB, which has some of Africa’s largest deposits of the tantalum-rich ore coltan, has been using a digital tracing system since January 2019 to show its minerals are not mined by children or fund warlords and corrupt soldiers.

 

The system, called the “Better Sourcing Program” (BSP), is run by Berlin-based RCS Global.

 

“A disengagement from purchasing PE 4731 material, or for mining activities to stop, would be hugely detrimental to the security in the area and could worsen tensions, as occurred in 2018 when mining activity was temporarily suspended,” RCS Global said.

 

“DRC government and international stakeholder engagement will be beneficial to move the underlying tensions towards resolution,” RCS Global said in a statement due to be released to smelters and stakeholders on Monday.

 

Tantalum is used in electronic goods such as smartphones, laptops and video game consoles. Companies that use the mineral are under pressure from regulators and investors to show the metals have been sourced responsibly.

 

SMB and the mineworkers cooperative which works on the site have given diverging accounts of what happened in the attack last month. Miners accused police hired by SMB of using excessive force, which SMB and the police deny.

 

In its statement, RCS Global said SMB was in the process of implementing a series of corrective actions it had recommended to address concerns about SMB’s supply chain following the incident.

 

These included training mine police on the respect of voluntary principles on security and human rights, engaging with provincial bodies, and requesting support from national authorities.

 

BSP, which has four full-time monitoring agents on SMB’s concession, said it was unclear who launched the grenade attack.

 

SMB said last month that two policemen were targeted in a nighttime grenade attack, which was followed by gunfire. Three people were killed and three, including one policeman, were hurt and taken to hospital, it said.

 

 

 

Congo mines minister to meet with firms on confinement moratorium

JOHANNESBURG (Reuters) - Democratic Republic of Congo mines minister Willy Kitobo Samsoni plans to meet with mining companies to agree a moratorium on confining workers to mine sites due to the coronavirus.

 

Civil society groups last month demanded an end to mandatory mine-site confinement policies put in place by copper and cobalt mining companies to avoid coronavirus outbreaks.

 

Samsoni said in a statement released on Sunday that he would engage with mining companies and deliver a moratorium to them in order to end confinement while taking into account their individual needs.

 

All mining firms must find “appropriate solutions in order to protect both the economy, and the workers who have been separated from their families for a long time,” Samsoni said.

 

Samsoni, speaking in the heart of Congo’s copper belt, also touched on the difficulties the pandemic has caused for the mining sector, a critical part of the economy which generated 32% of GDP and 95% of export revenue in 2018.

 

“Coronavirus has dealt a fatal blow to mining activities, with the impossibility of repatriating capital, importations of products for the industry coming to a halt, the dizzying drop in metals prices on global markets in March,” he said.

 

 

 

 

Sasol gives up licence to seek offshore gas in Mozambique

MAPUTO (Reuters) - South African petrochemicals giant Sasol Ltd has opted to give up its licence to explore for gas off the Mozambique coast, the company said on Sunday.

 

“Sasol will return Block 16/19 in its entirety to the Government of Mozambique. To this end, a withdrawal notification has already been sent to the relevant Mozambican authorities”, the firm said in a statement.

 

Sasol was awarded the research licence in 2005. In 2013 it abandoned the deep water part of the licence, retaining the shallow water allotment to assess its hydrocarbon potential.

 

It is still exploring for gas onshore in the fields of Pande and Temane, in the northern province of Inhambane.

 

Sasol, the world’s top producer of motor fuel from coal, is trying to shed assets to pay off its debt pile and avoid a rights issue of up to $2 billion.

 

 

 

Egypt's Suez Canal revenues in FY 19/20 fall to $5.72 bln - statement

CAIRO (Reuters) - Egypt’s Suez Canal revenues fell to $5.72 billion in the 2019/20 financial year from $5.75 billion in the year prior, the canal authority said on Saturday.

 

The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government’s main sources of foreign currency.

 

Revenues fell by 9.6% year-on-year in May alone, due to the impact of the coronavirus on global trade movement, Osama Rabie, chairman of the canal authority said in June.

 

 

 

TikTok to exit Hong Kong ‘within days’

TikTok has said it will quit Hong Kong after China imposed a new security law on the city.

 

"In light of recent events, we've decided to stop operations of the TikTok app in Hong Kong," a spokesman told the BBC.

 

The company's exit from the city will come "within days," according to the Reuters news agency.

 

Facebook and Twitter said this week they were "pausing" co-operation with Hong Kong police over user information.

 

The short-form video app was launched by China-based ByteDance for users outside mainland China as part of a strategy to grow its global audience.

 

The tech company operates a similar short video sharing app in China called Douyin.

 

TikTok, now run by former Walt Disney executive Kevin Mayer, has said in the past that the app's user data is not stored in China.

 

The company has also said previously that it would not comply with any Chinese government requests to censor content or give access to its users' data, nor has it ever been asked to do so.

 

However, the controversial national security law in Hong Kong has given Chinese authorities sweeping new powers, raising concerns about data privacy.

 

The legislation punishes what China describes broadly as secession, subversion, terrorism and collusion with foreign forces, with up to life in prison.

 

Critics say it erodes Hong Kong's freedoms as a semi-autonomous region, including freedom of speech.

 

Facebook, WhatsApp, Twitter, Google and Telegram have all announced this week that they are also making changes to their operations in Hong Kong after the new security law came into force last week.

 

The tech firms have said they are not processing data requests from the Hong Kong police while they assess the ongoing political changes in the city.

 

TikTok walks a fine line with Beijing

TikTok's decision to stop operations in Hong Kong of its popular video app looks unusual - but is strategic.

 

The company has struggled to fight off suspicions that it operates under Chinese law, or under the control of Beijing.

 

Which is why TikTok has been at pains to try to change its global image - and this move could be one more step towards doing that.

 

TikTok has also consistently said that if asked, it would never hand off data to Beijing - and that it's never been asked for any user data either.

 

Staying in Hong Kong, under the new law, may make it difficult for it to keep to that commitment.

 

Its biggest market is India - where it has recently been banned by the Indian government because of a border conflict with China. Analysts say it could potentially lose up to a billion dollars in lost advertising revenue in India.

 

Which is why it is keen to show that it is not simply a Chinese-owned firm - but a global company that is also an international and responsible social media player.

 

'Restoring safety'

On Tuesday, Hong Kong's leader Carrie Lam defended the national security law imposed by Beijing saying it was not "doom and gloom" for the city.

 

Ms Lam said the law would restore Hong Kong's status as one of the safest cities in the world after pro-democracy protests last year often turned violent.

 

"Compared with the national security laws of other countries, it is a rather mild law. Its scope is not as broad as that in other countries and even China," she said.

 

The legislation has been heavily criticised globally for undermining freedoms guaranteed under the "one country, two systems" agreed as part of the former British colony's return to Chinese rule in 1997.

 

Also on Tuesday US Secretary of State Mike Pompeo told Fox News that the US is "certainly looking at" banning Chinese social media apps, including TikTok.

 

"I don't want to get out in front of the President (Donald Trump), but it's something we're looking at," Mr Pompeo said.--BBC

 

 

 

Coronavirus: Japan's household spending slumps at record rate

Japan's household spending has slumped at a record pace as measures to slow the spread of the coronavirus kept people at home.

 

Government figures show household spending dropped by 16.2% in May from a year earlier.

 

The worse than expected fall was the fastest rate of decline since comparable data began in 2001.

 

The figures serve as another indication of how hard the pandemic has hit the world's third largest economy.

 

The data showed big drops in spending on hotels, transport and eating out. Goods that saw an increase in spending included meat, alcohol and face masks.

 

Economists expect a recovery in spending to be slow and fragile as consumers remain reluctant to loosen the purse strings even after a nationwide state of emergency was lifted in May.

 

The outlook for household spending in the months ahead also remains weak as job losses are expected to rise.

 

Meanwhile, Japan's real wages dropped at the fastest pace in nearly five years, in a sign of how the virus is impacting the jobs market.

 

Real wages, a gauge of household spending power, fell by 2.1% in May from a year earlier, the steepest pace of decline since June 2015.

 

"The impact from the coronavirus led to a reduction in overtime pay which caused real wages to fall a lot," a labour ministry official said.

 

Overtime pay, which is seen as a key measure of the strength of business activity, fell by 25.8% from a year earlier.

 

It was the sharpest drop since comparable data became available in January 2013, and marked the ninth monthly decline in a row.

 

Both sets of data underline the major challenges facing Japan's government and central bank as the country braces for its deepest recession since the end of World War Two.

 

Economists expect a contraction of more than 20% this year due to the impact of lockdown measures in response to the pandemic.

 

The Japanese is economy is also feeling the pressure of the fallout from the US-China trade war and a sales tax hike that came into effect at the start of October.

 

Policymakers are now faced with growing pressure to ramp up measures to restore business and consumer confidence.

 

Earlier this month official figures confirmed that Japan had fallen into recession for the first time in four and half years, after a 7.2% contraction between October and December.--BBC

 

 

 

Coronavirus: China's workers and graduates fear for their future

Huang waits by a workbench for the welder to pass the next metal tray. There's only a handful of staff in the factory. Half the building is in darkness.

 

The boss is stranded in Europe. They haven't had any new orders from their American customers for months.

 

This is a business that's desperately trying to keep the lights on.

 

"Up until now we haven't received any substantial mass production orders to keep the factory running and to be able to pay salaries and to be able to stay afloat," Yuliya Yakubova told me. She was blunt about the business she runs.

 

Speaking from Italy she said, "The last [thing] I want to do really is fire or let go employees." But she doesn't have long left.

 

Lotus United is a business that's hanging on. In an industrial park in Jiangsu near China's east coast it makes the rails and the racks for the shops that some of you go to. Or at least it used to.

 

Two floors of manufacturing, around 100 employees, have been reduced to only a handful of staff turning up every day.

 

Most of the machines are now switched off, cardboard boxes stacked up, piles of rusty inventory on the floor.

 

How bad are China's economic woes?

China's virus-hit economy shrinks for first time in decades

Huang Xuefeng is not very busy. Before we met there were a few sparks flying over in a corner. The white glow of welding at a workbench.

 

Pay cuts

But the disastrous shutdown brought by the virus has reduced this company to a handful of workers, tucked away in a corner.

 

Huang's had a 50% pay cut. He's now spending the equivalent of just over $200 (£160) a month.

 

"The money I earn now can only guarantee basic living," he said. His family has been hit hard because his wife works at the factory too.

 

They are a tiny, tiny part of China's vast wave of migrant workers.

 

When I met him they were eating lunch together during a 25-minute break.

 

If the company goes under they'll lose their pay, and their free lunch. There will be nothing to send back home to their daughter. "I came here in 2012. [She is being] raised back home as I can't afford it."

 

Privately-owned companies like Lotus create the most new jobs in China. But they are particularly vulnerable in this crisis.

 

In recent years the government and the Communist Party has been more focused on consolidating and protecting state-owned enterprises: the industrial, transport, telecoms and financial giants that they own.

 

Add to this small companies' over-reliance on doing business in the US - it only has American customers - and it is clear that Lotus is very, very vulnerable. One hundred jobs are on the line.

 

Employment of 'paramount importance'

An impending unemployment crisis is the stuff of nightmares for China's leaders. The ruling Communist Party worries incessantly about the effects on social stability.

 

Small but visible protests sprang up in Wuhan in April. Workers in a shopping centre gathered to demonstrate against rents they could no longer afford.

 

The official jobless total in China's cities has already hit the government's target. There are independent forecasts that it could go much higher.

 

China's number two politician, Premier Li Keqiang, acknowledged the scale of the problem last month when he said: "The truth is that in April that figure already hit 6%... Employment is the biggest concern in people's lives. It is something of paramount importance for all families."

 

Addressing workers at firms like Lotus, Mr Li said: "Many export companies have no orders now, which has greatly affected their employees.

 

"We must provide support to all these people and businesses in difficulties, but most importantly, we must help them land jobs."

 

But there is one group the party is particularly worried about: graduates.

 

Under pressure

There are almost nine million graduates entering China's job market this summer.

 

There are fewer jobs to go round. Mr Li has admitted the outlook for them is "grim".

 

Zhang does not expect the jobs situation to improve for graduates within a year

Outside a recruitment fair in Shanghai, 23-year-old Zhang told us: "Yes, we have pressure. We can't find jobs but also we don't want to stay at home doing nothing."

 

She is pessimistic. "I expect it won't get better within a year."

 

Many of the job fairs have gone online. Graduates are looking down a phone camera with a mask on hoping to land their first big job. "We don't have any internship experience and we didn't go to the autumn job fair," Zhang explained.

 

In China's past, the government used to assign jobs to them. But that is long gone.

 

Provincial governments and state-owned firms are being encouraged to recruit graduates. There are tax breaks on offer.

 

This is a critical issue for economic recovery and political legitimacy. Young, educated, unemployed, restless and resentful graduates have repeatedly been a problem for the ruling party.

 

Back at the factory, via Italy, Ms Yakubova has her chin up. "I am hopeful that after one, two, I don't know, three months, let's say in the near future, that we can restart."

 

Some staff have already quit to find other work. The minimum wage she was forced to put them on was not enough.

 

Huang and his wife are staying, but they have a plan. "We are under great pressure to live here," he said. "The rent, the cost of living... if we can't hold on we will leave."

 

They will go back up north if the jobs end, and become corn and wheat farmers again.

 

Millions of migrant workers like them could do the same. It would be an unpredicted reversal of China's decades long vast urbanisation.

 

--BBC

 

 

 

Vouchers of up to £5,000 for home insulation

Hundreds of thousands of homeowners will receive vouchers of up to £5,000 for energy-saving home improvements, the chancellor will announce.

 

Rishi Sunak is due to set out a £2bn grant scheme in England for projects such as insulation as part of a wider £3bn plan to cut carbon emissions.

 

The Treasury said the grants could help to support more than 100,000 jobs.

 

Labour said renters appeared to be left out and called for a "broader and bigger" plan to cut carbon emissions.

 

Under the Green Homes Grant, the government will pay at least two-thirds of the cost of home improvements that save energy, the Treasury said.

 

For example, a homeowner of a semi-detached or end-of-terrace house could install cavity wall and floor insulation for about £4,000 - the homeowner would pay £1,320 while the government would contribute £2,680.

 

The scheme will launch in September, with online applications for recommended energy efficiency measures, along with details of accredited local suppliers.

 

Once one of these suppliers has provided a quote and the work is approved, the voucher is issued.

 

The government said about half of the fund - which is due to be spent in one financial year - will go to the poorest homeowners, who will not have to contribute anything to the cost. Better insulation could save some people £600 a year on energy bills, the Treasury said.

 

Mr Sunak said the investment would also help to "kick-start our economy" by creating thousands of jobs and providing business for existing skilled workers, as the UK recovers from the economic shock of coronavirus.

 

"As Britain recovers from the outbreak, it's vital we do everything in our power to support and protect livelihoods across the nation," he said.

 

'The jobs factor swayed the day'

Insulation gives a triple benefit. It saves on bills, cuts carbon emissions from heating, and - crucially as the UK's economy creaks - it creates thousands of jobs for tradespeople crawling in attics and fiddling with draught proofing.

 

England can't reach its climate targets without a major housing refit, but until now the Treasury has been reluctant to help - because it means transferring cash from the public purse to private bricks and mortar.

 

Now the jobs factor has swayed the day and some campaigners are delighted - the £2bn figure is more than they expected.

 

Labour approves of the investment, but says it does little to help people in cold, rented homes.

 

It warns the programme must be carried on year after year to keep the jobs and increase the emissions savings.

 

The grants are part of a wider £3bn "green investment" package due to be announced in the chancellor's summer statement on Wednesday, to support efforts to rebuild the economy after the pandemic.

 

The plan aims to create tens of thousands of new jobs while helping the UK meet its 2050 target of achieving net zero carbon emissions.

 

It will involve improving insulation in public buildings such as schools and hospitals and retro-fitting low-carbon heating technology to social housing.

 

The Conservative manifesto had pledged £9.2bn for improving the energy efficiency of low income housing and public buildings.

 

Shadow business secretary Ed Miliband welcomed the plan but stressed that it was not "comprehensive".

 

"It appears there is almost nothing for the people who rent the 8.5 million homes in the social rented sector and private rented sector, which has the worst energy efficiency standards. That means one-third of people are left out," he said.

 

Mr Miliband said the government needed "a much broader and bigger-scale strategy" to meet its target to reduce carbon emissions to net zero, including investing in nature conservation, increasing renewable energy, supporting manufacturers to be greener and improving transport.

 

Rosie Rogers, senior political advisor at Greenpeace UK, said the UK "isn't playing in the same league" as other countries, such as Germany, which is investing €40bn (£36bn) in green jobs and energy efficiency, or France, which pledged €15bn to tackle the climate crisis in June.

 

"Of course, this money is better than nothing, but it doesn't measure up to the economic and environmental crises. It's not enough to create the hundreds of thousands of new green jobs that are needed," she said.

 

"It's not enough to insulate all of the homes and buildings that need to be kept warm and more energy efficient.

 

"It's not enough to 'build back greener', and it's certainly not enough to put us on track to tackle the catastrophic impacts of the climate emergency."--BBC

 

 

 

Daily Mirror owner Reach to cut 550 jobs as sales fall

The owner of the Daily Mirror and the Daily Express is to cut 12% of its workforce as it struggles with the impact of the coronavirus pandemic.

 

Reach, which also owns the Daily Star, OK! Magazine and a stable of regional newspapers, said about 550 people would lose their jobs.

 

The group, whose sales were falling even before the pandemic, saw revenue slip nearly 30% in the quarter to June.

 

Boss Jim Mullen blamed a fall in circulation and advertising revenue.

 

"To meet these challenges and to accelerate our customer value strategy, we have completed plans to transform the business and are ready to begin the process of implementation," he said.

 

"Regrettably, these plans involve a reduction in our workforce and we will ensure all impacted colleagues are treated with fairness and respect throughout the forthcoming consultation process."--BBC

 

 

 

 

 

 

 

 

 

 


 

 


 

INVESTORS DIARY 2020

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


Ariston

AGM

Boardroom, 306 Hillside Road, Msasa Woodlands

07 Jul 2020 : 1100

 


Dawn Properties

AGM

Ophir Room, Monomotapa Hotel, 54 Park Lane

09 Jul 2020 : 0900

 


Mash

AGM

Virtual, Boardroom, 19th Floor, ZB Life Towers, 77 Jason Moyo Avenue

09 Jul 2020 : 1200

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


Bindura Nickel Corporation

 

 

 


Padenga Holdings

 

 

 


Delta Corporation

 

 

 


Meikles Limited

 

 

 


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Skype:         Bulls.Bears 



 

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