Major International Business Headlines Brief::: 14 July 2020

Tue Jul 14 05:51:27 CAT 2020

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Major International Business Headlines Brief::: 14 July 2020

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

ü  Tunisia seeks late debt payments as crisis hits economy, state budget

ü  Huawei: UK prepares to change course on 5G kit supplier

ü  HK Disneyland to close one month after reopening

ü  Brexit: Get ready because this time it’s for real

ü  Johnnie Walker whisky to be sold in paper bottles

ü  Google announces $10bn investment in 'digital India'

ü  South African retail group TFG to buy Jet assets from Edcon

ü  South African rand firms as dollar wobble lifts emerging currencies

ü  South Africa set to make SAA funding commitment, official says

ü  Congo central bank keeps 2020 economic growth forecast at -2.4%

ü  Nigeria's President Buhari to sign revised 2020 budget into law on Friday
-presidency

ü  Nigeria's excess crude account held $72.41 million as of July 7: finance
minister

ü  Huawei: BT says 'impossible' to remove all firm's kit in under 10 years

ü  Oil producers expected to increase crude output

 <mailto:info at bulls.co.zw> 

Tunisia seeks late debt payments as crisis hits economy, state budget

TUNIS (Reuters) - Tunisia has asked four countries to delay debt repayments,
it said on Monday as it announced more pessimistic economic and budget
forecasts for 2020 because of the coronavirus pandemic.

It is negotiating with Saudi Arabia, Qatar, France and Italy to push back
the payments, Investment Minister Slim Azzabi told a news conference.
Tunisia also hoped to arrange a new deal within four months with the
International Monetary Fund.

The request on debt repayments underscores the dire condition of Tunisia’s
public finances, already a source of concern before the coronavirus crisis
pummelled the global economy.

Azzabi said he expected the Tunisian economy to shrink by 6.5% this year
because of the pandemic. Tunisia imposed a complete lockdown from March
until May and has gradually reopened since, though some businesses remain
closed.

The pandemic is particularly hammering the tourism sector, which contributes
nearly 10% of gross domestic product (GDP) and is an important source of
foreign currency.

Tourism revenue in the first six months of the year fell by half from the
same period of 2019 as Tunisia closed its borders and travel for Western
tourists grew more expensive and complex.

The government, which took office in February after months of political
wrangling following last year’s election, was already seeking to reduce the
deficit and bring down public debt.

Finance Minister Nizar Yaich told the same news conference on Monday that he
now expected the budget deficit to widen to about 7% of GDP from the 3%
previously expected.

 <mailto:info at bulls.co.zw> 

Huawei: UK prepares to change course on 5G kit supplier

The UK government is preparing to change course over the role of Huawei in
its 5G telecoms network.

Six months after agreeing it could have a limited role, ministers look set
to exclude the Chinese company, with no new equipment installed from next
year.

The move is in part a result of pressure from Washington.

However, the precise time frame and details of the phase-out will be crucial
in determining how the decision is received.

In January, after a lengthy delays and hard-fought battles, the government
announced that Huawei would be kept out of the sensitive core of the 5G
network and limited to 35% market share of its other parts.

But now it finds itself revisiting that decision.

A key reason is the Trump administration has continued what one UK official
calls a campaign of "unrelenting pressure" on the company.

US officials have claimed China could use the firm as a gateway to "spy,
steal or attack" the UK - Huawei denies this and its founder has said he
would rather shut the company down than do anything to damage its clients.

New sanctions in May limited Huawei's access to US chip technology.

That forced the UK's National Cyber Security Centre to launch a review to
understand whether using alternative chips would reduce the level of
assurance it could offer about Huawei's presence in the UK.

But the decision will be as much about geopolitics and domestic politics as
it is about technicalities.

Attitudes to China have hardened in the last six months.

The Coronavirus crisis - and Beijing's handling of it - have increased
concerns about dependencies on China. And the growing tension over Hong Kong
has heightened concerns about whether China is becoming more authoritarian.

A significant Conservative backbench rebellion in March suggested there were
already many wanting a tougher policy, and their confidence and numbers have
been fuelled by events in the intervening months.

But amid heavy lobbying from telecoms companies, which have warned of mobile
coverage blackouts if they are forced to remove Huawei equipment fast, the
government has been debating how quickly to move.

A long lead time for Huawei kit to be removed of seven to 10 years would
leave critics unhappy but cause less disruption.

Three to five years would placate them, but impose many more costs because
of the need to rip out existing Huawei equipment, which is sometimes
integrated with 4G and older equipment.

If the telecom networks fall behind with their 5G rollout as a result, it
would make it harder for the government to deliver on its promises of
increasing connectivity for the country in the coming years.

China may also seek some way of punishing the UK, partly to discourage
others from following its course.

But equally, if the new policy is seen as not tough enough, then critics on
the backbenches may continue their rebellion to push for a tighter
time-frame when legislation is brought to parliament in the autumn.

Whatever the case, a decision which has already been overturned once may
still be fought over in the months ahead.--BBC

HK Disneyland to close one month after reopening

Hong Kong Disneyland is closing its gates again less than one month after it
reopened, following a new coronavirus outbreak in the city.

The theme park was originally closed at the end of January as the pandemic
spread across Asia.

Disney decided to reopen the park on 18 June as Hong Kong kept coronavirus
cases low.

But gates will close again on Wednesday as social distancing measures are
reimposed.

"As required by the government and health authorities in line with
prevention efforts taking place across Hong Kong, Hong Kong Disneyland park
will temporarily close from 15 July," Disney said in a statement.

Hong Kong Disneyland was the second Disney park to reopen, following
Shanghai Disneyland in May.

But a surge in infections has forced authorities in the city to bring back
measures to contain the new outbreak.

Hong Kong officials said activities including large social gatherings,
dining-in at restaurants and going to the gym would be temporarily
suspended.

Both Disney's Hong Kong and Shanghai theme parks limited daily visitor
numbers and increased health and safety measures after they reopened to the
public.

Its Shanghai theme park remains open with numbers limited to less than half
of its normal capacity.

Disney said the Hong Kong park closure won't impact Walt Disney World in the
US.

Walt Disney World's Magic Kingdom and Animal Kingdom reopened in Florida
last week with enhanced sanitisation measures and limited capacity.

Its Epcot and Disney's Hollywood Studios are due to reopen on Wednesday.

The entertainment company owns a 47% stake in the Hong Kong theme park, with
a government entity holding the remaining portion.--BBC

Brexit: Get ready because this time it’s for real

The government has warned that the outcome of ongoing Brexit negotiations
will not alter significant changes to trade with EU that business needs to
prepare for.

"Customs declarations are complicated": That's according to page 8 of a
208-page government guide to importing and exporting after the transition
period ends at the end of this year.

The document is dense, detailed and presents a daunting checklist for firms
looking to be prepared for the biggest change to doing business with our
largest and closest partner.

The government advises that companies hire an intermediary, such as a
customs agent or a freight forwarder, to help them navigate the new
requirements. Or they can buy special software and access to HMRC systems if
they fancy doing it themselves.

Other requirements include applying for an Economic Operator's Registration
and Indentification Number, ensuring hauliers have the right driving
licences and making sure their VAT accounting processes are ready for EU
imports.

What the government makes clear here is that there will be no last minute
reprieve this time. Businesses used to hearing how they should rush to get
ready only to have the reality postponed will get a nasty shock if they
adopt that attitude this time around.

As the document makes clear: "The UK's negotiations with the EU will have NO
IMPACT on the need to take these actions."

HMRC estimates that the cost to UK business of having to fill out 200
million additional annual customs declarations alone will be £6.5bn a year.

Many business groups have said this extra burden of time and cost comes at a
moment when business is reeling from the impact of coronavirus disruption
which has pitched the UK and the rest of the world into its deepest
recession in living memory.

Testing times

In recognition of this, the government will phase in some of these
requirements. For example, traders will have six months to file their
customs declarations and pay any tariffs due.

Cabinet Office Minister Michael Gove, speaking in the Commons on Monday,
insists that our departure from the EU heralds a host of new opportunities
for increased trade with the rest of the world.

However, talks on a trade deal with the US have hit obstacles over food and
animal welfare standards. And relations with China have hit a decade long
low over the role of Huawei in UK communications networks and Beijing's fury
at the UK government's offer of a route to UK citizenship for 3.5 million
Hong Kong residents.

Many ministers accept that there will be short term disruption at least to
the flow of business between the UK and the EU, but that is a price worth
paying for control over our borders, laws and money.

The tone of today's advice is clear but the process of compliance will test
many firms. What's also clear from the two 200 pages of detailed
instructions is that any hope there would be less paperwork and red tape
after leaving the EU seems misplaced.--BBC

Johnnie Walker whisky to be sold in paper bottles

Johnnie Walker, the whisky which traces its roots back 200 years, will soon
be available in paper bottles.

Diageo, the drinks giant that owns the brand, said it plans to run a trial
of the new environmentally-friendly packaging from next year.

While most Johnnie Walker is sold in glass bottles, the firm is looking for
ways of using less plastic across its brands.

Making bottles from glass also consumes energy and creates carbon emissions.

To make the bottles, Diageo will co-launch a firm called Pulpex, which will
also produce packaging for the likes of Unilever and PepsiCo.

Diageo's paper whisky bottle, which will be trialled in spring 2021, will be
made from wood pulp and will be fully recyclable, the company said.

The idea is that customers would be able to drop them straight into the
recycling.

Drinks companies have been developing paper bottles to try to cut down on
pollution and make products more sustainable.

Carlsberg in the process of developing a paper beer bottle.

UK firm Frugalpac produces paper wine bottles which it says are made from
recycled paper with a "food grade liner".

However, drinks giant Coca-Cola in January said it would not ditch
single-use plastic bottles because consumers still want them.

Plastic-free

Diageo said its bottles will be made by pressurising pulp in moulds which
will then be cured in microwave ovens.

The bottles will be sprayed internally with coatings that are designed not
to interact with the drinks they will contain.

Many cartons made out of paper have a plastic coating inside to stop the
drinks leaking out. Diageo, however, said its drinks bottles will not have
that plastic coating.

Companies are coming under increasing pressure to reduce the amount of
plastic in packaging as consumers increasingly focus on damage to
ecosystems.

In Europe, 8.2 million tonnes of plastic were used to package food and drink
in 2018, according to ING analysts.

Diageo, which also makes Guinness and Smirnoff vodka, said it uses less than
5% of plastic in its total packaging.

However, while glass bottle manufacturers are striving to make production
more efficient, they still have a significant carbon footprint.

It takes a lot of energy to power glass furnaces, many of which use natural
gas to melt raw materials such as sand and limestone.--BBC

Google announces $10bn investment in 'digital India'

Google will invest $10bn (£7.93bn) in India in the next five to seven years,
the chief executive of its parent company Alphabet Inc has announced.

Sundar Pichai spoke at the annual Google for India event, held online.

The investment will be used to build products and services for India, help
businesses go digital and use technology "for social good".

"This is a reflection of our confidence in the future of India and its
digital economy," Mr Pichai said.

With more than 500 million active internet users in the country, India is
perhaps the biggest potential growth market for Google.

The investment will be made through the Google for India Digitisation Fund

Mr Pichai said the fund would focus on four areas to scale up digital
infrastructure in India. It would:

·         enable "affordable access and information for every Indian in
their own language"

·         "build new products and services that are deeply relevant to
India's unique needs"

·         empower local businesses who want to go digital

·         "leverage technology and AI [artificial intelligence] ]for social
good" in sectors like health, education and agriculture

Mr Pichai also touted Prime Minister Narendra Modi's Digital India project
which aims to overhaul the country's digital infrastructure.

Mr Modi tweeted to say that he and Mr Pichai had discussed "leveraging the
power of technology to transform the lives of India's farmers, youngsters
and entrepreneurs".

India is already a major market for all of Google's key products including
Android, Search and YouTube. Nearly 245 million Indians access YouTube in
India.

Growing internet use across smaller towns and villages has also led to a
boom in regional language internet use which, according to one estimate, now
commands a 66% share in overall content consumption in India, far surpassing
English.

This, along with a significant uptick in the number of Indians using
AI-based technologies for education, healthcare and financial services,
dovetails directly with Google's ambitions to bring first-time users online.

"I expect digital adoption in sectors like education will be two to three
times faster because of this investment," telecoms analyst Minakshi Ghosh
told the BBC.

The timing of Google's announcement is particularly interesting. It comes
close on the heels of India announcing a ban on 59 Chinese apps including
TikTok and WeChat.

"Google can scale its presence and fill the void created by some of them,
especially in browser space, communication tools and utility apps," says
Tarun Pathak, associate director with Counterpoint Technology Market
Research. "The ban has created uncertainty in the market, which is an
opportunity for Silicon Valley giants like Google and Facebook."

This is not the first time Google has made large investments in India.

In 2015, the company partnered with Tata Trusts to launch Internet Saathi, a
programme to help bridge the gender divide and deliver technology to Indian
villages. According to the programme's website, the effort has helped around
28 million women across nearly 300,000 villages learn about the internet.

In his blog, the Indian-born Mr Pichai wrote that this mission was "deeply
personal".

"Growing up, technology provided a window to a world outside my own. It also
brought us closer together as a family," he said.--BBC

South African retail group TFG to buy Jet assets from Edcon

JOHANNESBURG (Reuters) - The Foschini Group (TFG) is set to buy 371 stores
and selected assets of Jet for 480 million rand ($28.7 million) from Edcon’s
administrators, it said on Monday, allowing the South African retailer to
expand into the budget apparel market.

Edcon, which also owns 91-year-old department store chain Edgars, applied
for bankruptcy protection in April as it seeks to salvage parts of a group
that has featured on South African shopping streets for nearly a century but
failed to forge an effective e-commerce strategy and compete with
international fashion chains such as Sweden’s H&M and Spain’s Zara.

TFG, which owns 29 retail brands that trade in fashion, jewellery,
accessories, sporting apparel, cellular, homeware and furniture, said that
Edcon’s administrators have accepted the terms of its conditional offer.

“This acquisition also allows TFG to establish a value retail pillar ...
that would be costly and difficult to replicate organically,” TFG said in
its statement.

The proposed deal includes acquisition of the Jet brand, a minimum of 371
commercially viable stores, a distribution centre in Durban and certain
stores in Botswana, Lesotho, Namibia and Eswatini.

TFG will also buy the Jet Club membership programme and all existing stock
holdings with a minimum stock value of no less than 800 million rand, it
said.

The company also reported retail turnover down 43% for the three months to
June 27, citing the impact of coronavirus lockdowns in South Africa, the UK
and Australia.

($1 = 16.7292 rand)

South African rand firms as dollar wobble lifts emerging currencies

JOHANNESBURG (Reuters) - South Africa’s rand firmed early on Monday, helped
by increased risk appetite as investors bet again on a global economic
recovery.

The rand was 0.36% stronger at 16.7100 against the dollar at 0645 GMT, its
best level since June 11, having gained steadily since opening above the
17.00 mark last Monday.

The gains have been driven mainly by global sentiment rather than domestic
factors, with investors searching for high yields on hopes for a quick
economic recovery despite a global surge in COVID-19 infections.

Emerging market currencies rose in unison, taking advantage of a dollar
weighed down by the United States’ battle to contain the spread of the
coronavirus as well as some investor caution ahead of data releases due in
the world’s top economy.

Traders, however, expect the rand to face to some selling pressure later in
the week, with power utility Eskom announcing that nationwide controlled
blackouts would continue on Monday.

“The rand juggled cautious sentiment - as coronavirus infections are surging
across the globe and frustration hit as South African power utility Eskom
switched off the lights - against a soft U.S. PPI (producer price index)
release,” said analysts at NKC African Economics in a note.

Bonds also firmed, with the yield on the benchmark 2030 government issue
down 2 basis points at 9.475%.

South Africa set to make SAA funding commitment, official says

JOHANNESBURG (Reuters) - The South African government is “on course” to
provide a funding commitment for the restructuring of loss-making South
African Airways (SAA), a senior official said on Friday.

The comments by the acting director-general of the Department of Public
Enterprises (DPE) will ease concerns at the airline after the finance
ministry told lawmakers last week it would not provide any new money.

SAA’s creditors are due to meet on July 14 to vote on a restructuring plan
that envisages scaling back the airline’s fleet and shedding jobs but
requires at least 10 billion rand ($592 million) of new funds to work.

If the government has not made a commitment on funding soon after the vote,
the plan could have to be reworked or rescue efforts abandoned.

“The first thing we need to do is give an indication to the business rescue
practitioners by the 15th that we are in a position to provide funding,” the
DPE’s Kgathatso Tlhakudi told Reuters. “That we are on track to be able to
achieve.”

Tlhakudi said the DPE, the ministry responsible for SAA, was currently
“socialising the idea” within government that it needed to do the initial
heavy-lifting to clean up SAA’s balance sheet.

“There are very few investors that will want to come and clean up, deal with
the legacy issues, so in our engagements within government we are getting
that position across.”

SAA has already taken more than 20 billion rand in bailouts in the last
three years alone.

Tlhakudi said the DPE was cognisant of the country’s fiscal constraints and
was speaking to potential investors to try to ease the burden on public
finances.

The government has been approached by a major airline interested in working
with SAA, but those discussions are at an early stage, he said, giving no
details on what sort of partnership was under discussion. There was also
interest in SAA’s maintenance, catering and cargo operations, he said,
without elaborating.

He said observers should not read much into the slide in a finance ministry
presentation that said no more funds would be provided to SAA. “We should
rely more on statements that have been made by cabinet, because that’s where
ultimately the call will have to be made.”

The cabinet said last month that it supported efforts to restructure SAA and
mobilise funds from a variety of sources, including equity partners.

($1 = 16.8943 rand)

Congo central bank keeps 2020 economic growth forecast at -2.4%

(Reuters) - The Democratic Republic of Congo’s central bank kept its 2020
economic growth forecast unchanged at -2.4% because of the uncertainty over
the COVID-19 pandemic.

“This situation has contributed to weakening growth prospects both globally
and regionally,” the central bank said in a statement.

Nigeria's President Buhari to sign revised 2020 budget into law on Friday
-presidency

LAGOS (Reuters) - Nigeria’s President Muhammadu Buhari will on Friday sign
into law a 10.8 trillion naira ($28.38 billion) revised 2020 budget passed
by lawmakers last month, the presidency said on Twitter on Thursday.

The budget was passed by parliament in June after it was revised as part of
an effort by the government to tackle the new coronavirus pandemic and low
oil prices.

Finance Minister Zainab Ahmed also on Thursday held talks with lawmakers
during which she provided details of a framework for the government’s
2021-2023 spending plan, which she said she plans to submit to parliament
later this month.

The benchmark price for oil for the 2021 fiscal year was pegged at $35, and
then $40 for 2022 and 2023, respectively, according to a statement issued by
the office of the leader of the Senate, parliament’s upper chamber.

The framework is used to calculate the government’s budget.

Oil production was placed at 1.86 million barrels per day (mbpd) for 2021,
2.09 mbpd for 2022, and 2.38 mbpd for the 2023. The exchange rate was set to
remain at 360 naira per dollar.

Nigeria, the top oil producer in Africa, is heavily reliant on crude oil
sales which make up around 90% of foreign exchange earnings.

($1 = 380.5000 naira)

Nigeria's excess crude account held $72.41 million as of July 7: finance
minister

ABUJA (Reuters) - Nigeria’s excess crude account held $72.41 million as of
July 7, the country’s finance minister said on Thursday.

Zainab Ahmed gave the figure during a meeting of the country’s National
Economic Council. The oil savings account, which holds dollar reserves from
sales of crude above the assumed benchmark price, contained $324.54 million
as of Nov. 20 last year.

Huawei: BT says 'impossible' to remove all firm's kit in under 10 years

BT's chief has said it would be "impossible" to remove Huawei from the whole
of the UK's telecoms infrastructure before 2030.

The government is expected to say that no new 5G equipment from the Chinese
firm can be installed after 2021, and that all its existing 5G kit must be
removed later - possibly by 2025.

But it is unclear if similar deadlines will also be given for Huawei's other
mobile and broadband gear.

A statement will be made on Tuesday.

"If you were to try and not have Huawei at all [in 5G] ideally we'd want
seven years and we could probably do it in five," BT's chief executive
Philip Jansen told BBC Radio 4's Today programme.

"If you wanted to have no Huawei in the whole of the telecoms infrastructure
across the whole of the UK, I think that's impossible to do in under 10
years."

Could Huawei be out of the UK by 2024?

BT's EE network uses Huawei's equipment to provide its 2G, 4G and 5G
networks.

In addition, its Openreach division uses Huawei to provide the "access
technology" in its exchanges to provide fibre to the premises (FTTP)
broadband - effectively converting electrical signals into light-based ones.

Huawei also provides about 70,000 of Openreach's roadside cabinets, which
are used to provide fibre to the cabinet (FTTC) broadband connections.
However, BT does not expect to be ordered to replace these, as they will be
superseded in time by FTTP technology.

Mr Jansen also repeated a warning first given by his firm last week, saying
that "outages would be possible" if BT is forced to pull out Huawei's 5G kit
too quickly.

He added that it would still need to install software provided by Huawei for
some time to come.

"Over the next five years, we'd expect 15 to 20 big software upgrades," he
explained.

"If you don't have those software upgrades, you're running gaps in critical
software that could have security implications."

Chip supplies

Boris Johnson will chair a meeting of the National Security Council (NSC) on
Tuesday, at which a final decision over Huawei will be taken.

The Digital Minister Oliver Dowden is expected to announce the details to
Parliament shortly afterwards.

The review has been prompted by new US sanctions which disrupt Huawei's
ability to make its own chips, and are likely to force it to rely on those
made by others.

UK security officials are concerned that this will challenge their ability
to properly vet Huawei's products before use.

"We want to race ahead and have the best form of internet connectivity,"
Justice Secretary Robert Buckland told the BBC.

"But, at the same time, national security comes first and I know the NSC and
the whole of government will be placing a huge priority on our national
security."

The threat of a backbench rebellion and other considerations - including
China's introduction of a new security law in Hong Kong and its role in the
coronavirus pandemic - will also encourage the prime minister to take a
tough line.

Huawei continues to press its case with the government. It denies claims
that it poses a national security risk, and has suggested it could guarantee
its UK clients supply of equipment made with its own chips for years to
come.

It has also emerged that President Trump's national security adviser Robert
O'Brien is flying to Paris to attend France's Bastille Day events. He is
scheduled to meet the UK's most senior national security advisor, Sir Mark
Sedwill, while in town.

Washington is hoping that if the UK takes a tougher line against Huawei,
that other countries - including France, Germany and Canada - will follow.

The last-minute lobbying has been intense as government prepares to make a
its new decision on Huawei.

Some of that has been very public - China's ambassador to the UK making
statements as well as UK telecoms providers appearing before parliament and
in the media, warning of the consequences of too tough an approach.

Conservative backbenchers have been vocal the other way, describing the
minimum action they believe is needed to avoid a rebellion when legislation
comes to parliament in the autumn.

The detail of any final decision will be important but it is hard to see any
outcome which does not leave some unhappy.

And that means that as just as the lobbying did not stop after the original
January decision, it may continue after whatever happens next.--BBC

Oil producers expected to increase crude output

The world's leading oil producers are expected to announce an increase in
output this week amid signs that demand is rising.

Oil cartel Opec is due to hold a meeting on Tuesday and Wednesday to discuss
its next move.

Analysts predict major producers will agree to ease supply cuts that were
imposed in April to prop up prices.

Opec and its allies, known as Opec+, cut daily oil output by 9.7m barrels as
the pandemic saw demand collapse.

That agreement was made to help ease the effects of an oil glut caused by
the lockdowns and to stabilise prices.

Brent crude, which is the global benchmark for oil, is down around 30% this
year, while US-traded West Texas Intermediate (WTI) fell below zero at one
point in April.

Expectations are growing that from next month those curbs will be reduced to
7.7m a day, meaning that output will increase by 2m barrels a day.

The more optimistic outlook comes after the International Energy Agency
(IEA) last week suggested that the worst of the impact caused by coronavirus
lockdowns may now be over.

In its monthly global energy report the IEA predicted a slight improvement
in global demand for crude oil this year.

However, it also cautioned that much still depends on how the pandemic
develops.

The report also noted that the resurgence of cases in some parts of the
world, including the US and Latin America, was “casting a shadow” over the
outlook and threatened to derail a recovery in demand.

"The recent increase in Covid-19 cases and the introduction of partial
lockdowns introduces more uncertainty to the forecast," it said.

Singapore-based oil expert Vandana Hari cautioned about a swift recovery for
the commodity. "Global oil demand is currently expected to come close to
pre-coronavirus levels only in the second half of 2021.

It may not reach the exact levels until much later, as international air
travel and jet fuel demand is not seen normalizing for the next 2-3 years,"
she said.

In the US, Florida has registered a state record of 15,299 new coronavirus
cases in 24 hours - around a quarter of all of the United States' daily
infections.

The US as a whole has been exceeding new daily totals of 60,000 cases for
the past few days. Other states including Arizona, California and Texas
continue to see a rising cases.--BBC

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

ZPI

AGM

virtual

14 July 2020 | 12pm

GB Holdings

AGM

Cernol Chemicals Boardroom, Willowvale

15 July 2020 | 11:30am

TSL

AGM

virtual

15 July 2020 | 12pm

BAT

AGM

Cresta Lodge, Msasa

16 July 2020 | 10am

African Sun

AGM

Virtual

16 July 2020 | 12pm

Masimba

AGM

Virtual

21 July 2020 | 12pm

Proplastics

AGM

Virtual

23 July 2020 | 10am

NMB

AGM

Virtual

28 July 2020 | 10am

FMP

AGM

Ground Floor, First Mutual Park, 100 Borrowdale Road, Borrowdale

29 July 2020 | 9:30am

FML

AGM

Ground Floor, First Mutual Park, 100 Borrowdale Road, Borrowdale

29 July 2020 | 11:30am

ZBFH

AGM

Board Room, 21 Natal Road, Avondale

30 July 2020 | 10:30am

OK Zimbabwe

AGM

Virtual

30 July 2020 | 3pm

ZHL

AGM

virtual

31 July 2020 |

Delta

AGM

Virtual, Head Office, Northridge Close, Borrowdale

31 July 2020 | 12:30pm

Zimbabwe

National Heroes Day

Zimbabwe

10  August 2020

Zimbabwe

Defence Forces’ Day

Zimbabwe

11  August 2020

CBZ

AGM

Virtual

14  August 2020 | 6pm

Companies under Cautionary

Bindura Nickel Corporation

Padenga Holdings

Delta Corporation

Meikles Limited

 <mailto:info at bulls.co.zw> 

DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
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been compiled from sources believed to be reliable, but no representation or
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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
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for guideline purposes only and sourced from third parties.

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Bulls n Bears 

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