Major International Business Headlines Brief::: 30 July 2020

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Major International Business Headlines Brief::: 30 July 2020

 


 

 

	
 


 

 


 

 

ü  Sasol to sell world's biggest oxygen production site to Air Liquide

ü  Namibia seeks IMF funding to help fight COVID-19

ü  South Africa's Standard Bank warns of up to 50% profit slump

ü  Kenyan central bank holds its key lending rate at 7.0%

ü  S.Africa's 2020 maize harvest rises from previous months forecast

ü  Kenyan shilling steady; dollar demand from energy sector low

ü  Nigeria in $1.5 bln oil prepay deal with traders Vitol, Matrix

ü  South Africa's economy to contract 7.2%, even after loan injection -IMF

ü  Apple, Amazon, Facebook, Google face claims of 'harmful' power

ü  Boeing to end 747 production and warns of job cuts

ü  UK car production slumps to lowest level since 1954

ü  Offices could relocate to suburbs, survey suggests

ü  Federal Reserve warns of continuing need to protect US economy

 


 

 


 

 <http://www.zb,co.zw/> Sasol to sell world's biggest oxygen production site
to Air Liquide

(Reuters) - Sasol has agreed to sell the world’s biggest oxygen production
site in Secunda, South Africa, to France’s Air Liquide for about 8.5 billion
rand ($515 million), as it sheds assets to pay off debts and avoid a rights
issue.

 

Sasol, the world’s biggest producer of motor fuel from coal, said on
Wednesday it had reached an agreement to sell the 16 air separation units,
which have a capacity of 42,000 tons per day and produce oxygen for its
fuels and chemicals production processes as well as other gases.

 

The move is part of Sasol’s drive to sell off assets amid the coronavirus
crisis and oil price slump, which have left the company - already struggling
following problems at a massive chemicals project in the United States -
potentially facing a rights issue of $2 billion.

 

Air Liquide, an industrial gases company that has been present at the site
since 1979 and already owns and operates one other air separation unit, said
it would launch a multi-year plan to modernise the facilities.

 

“(The transaction) will allow both Air Liquide and Sasol to focus on their
core business, combining operational efficiency and reduction of CO2
emissions,” said Benoit Potier, chairman and CEO of Air Liquide, which will
supply gases to Sasol if the transaction goes ahead.

 

Sasol added the companies were aiming to negotiate final agreements by
mid-August, with the transaction expected to close within fiscal 2021.

 

($1 = 16.4895 rand)

 

 

 

Namibia seeks IMF funding to help fight COVID-19

WINDHOEK (Reuters) - The Namibian government has approached the
International Monetary Fund (IMF) for a 4.5 billion Namibian dollars ($274
million) emergency loan to help fight the COVID-19 pandemic, a Ministry of
Finance spokesman said on Wednesday.

 

“We submitted an application to IMF last week. We will assess the terms and
conditions to see if they are favourable to Namibia,” the ministry’s
spokesman Tonateni Shidhudhu told Reuters.

 

Namibia had previously avoided loans from the IMF since becoming a member in
1990, but the coronavirus pandemic has seen many nations seek assistance
from the lender in recent months.

 

The IMF on Monday approved $4.3 billion in emergency financing for South
Africa to help address the “severe economic impact” and health challenges of
the coronavirus pandemic.

 

In Namibia, confirmed COVID-19 cases have surged in recent weeks after a
slower infection rate at the start of the outbreak in the country in March.

 

So far, Namibia has 1,917 cases and has recorded eight deaths.

 

Its budget deficit for the current fiscal year is seen widening to 68.7% of
gross domestic product, from an estimate of 54.8% in the previous year.

 

($1 = 16.4130 Namibian dollars)

 

 

 

South Africa's Standard Bank warns of up to 50% profit slump

JOHANNESBURG (Reuters) - South Africa’s Standard Bank said on Wednesday that
its half-year profit could drop by as much as 50% as the coronavirus crisis
hits its business.

 

Africa’s biggest bank by assets, along with all of South Africa’s major
lenders, had already warned that profits would likely be at least 20% lower,
with the pandemic prompting a spike in bad loans and also hitting new
business and fee income from transactions.

 

Its headline earnings per share - the main profit measure in South Africa -
for the six months to June 30 would likely fall by between 30% and 50%,
compared to the 837.4 cents it reported in the same period last year, it
said in a trading update.

 

“The group remained well capitalised and liquid,” it continued.

 

South African lenders, which managed to shield themselves from the more
devastating impact of the 2008-2009 financial crisis, are now facing one of
their biggest ever hits to profits as a result of the pandemic.

 

South Africa’s economy, already in recession, is forecast to decline by over
7% this year, according to the central bank, and the Banking Association of
South Africa has warned problem loans could rise to their highest ever level
of 10%.

 

Standard Bank did however say it is set to benefit from a bigger than
expected gain on the sale of its 20% stake in ICBC Argentina to the
Industrial and Commercial Bank of China, thanks to the slump in South
Africa’s rand.

 

The group will now get 1.4 billion rand ($85.06 million) as a result, rather
than 600 million rand.

 

($1 = 16.4591 rand)

 

 

 

Kenyan central bank holds its key lending rate at 7.0%

NAIROBI (Reuters) - Kenya’s central bank held its benchmark lending rate at
7.0% for the third time in a row on Wednesday, saying its current easing
stance was having the desired effect.

 

Like other central banks around the world, policymakers in the East African
nation adopted a range of easing measures at the onset of the coronavirus
crisis in March and April, to try to limit the damage to the economy.

 

“The package of policy measures implemented since March were having the
intended effect on the economy,” the bank’s Monetary Policy Committee (MPC)
said in a statement, referring to a total of 125 basis points cut to the
benchmark lending rate and a cut in the cash reserves banks are required to
hold.

 

Commercial banks have so far changed the terms of loans worth 844.4 billion
shillings ($7.85 billion), equivalent to 29% of the total outstanding loans
of 2.9 trillion shillings for the industry, the MPC said, offering relief to
borrowers hard-pressed by the impact of the pandemic. ($1 = 107.6000 Kenyan
shillings)

 

 

 

S.Africa's 2020 maize harvest rises from previous months forecast

JOHANNESBURG (Reuters) - South Africa will likely harvest 15.545 million
tonnes of maize in 2020, slightly higher than the previous months estimate,
after favourable weather conditions and higher yields in the Free State and
Gauteng provinces, the government’s Crop Estimates Committee (CEC) said on
Wednesday.

 

Giving its sixth production forecast for the 2020 crop, the CEC estimated
that harvest would be 38% higher compared with 11.275 million tonnes
harvested in the previous year when yields were impacted by dry weather
conditions.

 

The latest forecast is just higher than the CEC’s June estimate of 15.514
million tonnes.

 

The crop is expected to consist of 6.439 million tonnes of yellow maize
which remained unchanged from the previous month’s estimation, used mainly
in animal feed, and 9.106 million tonnes of white maize, used for human
consumption.

 

The CEC’s estimate is slightly higher than the result of a Reuters survey,
based on an average of estimates from five traders and analysts, that the
pegged the harvest at 15.461 million tonnes.

 

 

 

Kenyan shilling steady; dollar demand from energy sector low

NAIROBI (Reuters) - The Kenyan shilling was unchanged on Wednesday due to
slowing dollar demand from the energy sector which had weakened the local
currency to a record low last week, traders said.

 

A teller serves a client with Kenya shilling notes at the cashier's booth of
a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016.
REUTERS/Thomas Mukoya

At 0805 GMT, commercial banks quoted the shilling at 107.65/85 per dollar,
the same as Tuesday’s close.

 

The shilling weakened to its all time low of 108.20 per dollar on July 22.

 

 

 

Nigeria in $1.5 bln oil prepay deal with traders Vitol, Matrix

LAGOS/LONDON (Reuters) - Nigeria’s state oil firm NNPC has signed a $1.5
billion prepayment deal led by Standard Chartered and backed by oil traders
Vitol Group and Matrix Energy, two sources close to the matter said, the
first such agreement since the coronavirus pandemic.

 

The deal provides OPEC-member Nigeria with much-needed cash after its
finances were hit by the oil price crash in April as COVID-19 lockdowns
erased nearly one third of global oil demand.

 

The financing package called Project Eagle was also backed by African Export
Import Bank (Afrexim) and United Bank for Africa. Vitol and Matrix will each
get 15,000 barrels per day (bpd) of crude as repayment over five years,
starting in August. Nigeria’s crude production is nearly 2 million bpd.

 

Nigerian trader Matrix confirmed its participation in the deal. Vitol, the
world’s biggest independent oil trader, declined to comment. A spokesman for
Standard Chartered declined to comment. Afrexim did not have an immediate
comment.

 

UBA and NNPC did not immediately respond to requests for comment.

 

Prepayments with traders are widely used in commodity finance as banks
consider them to be one of the more secure forms of lending in countries
viewed as risky.

 

For trading firms such as Vitol, these loans are ideal for securing
long-term supplies and boosting razor-thin margins.

 

NNPC has been trying to raise cash through prepayments with traders for
years. However, the firm’s opaque finances and costly gasoline subsidies
have made it tough for it to secure private financing on attractive terms.
Nigeria announced the end of subsidies earlier this year.

 

NNPC will use a large portion of the money to pay taxes owed by its
subsidiary NPDC, the sources said. The remainder will go towards operational
expenses and capital expenditure. One of the sources said money from the
pre-payment could fund an upgrade of the Port Harcourt refinery.

 

 

 

 

South Africa's economy to contract 7.2%, even after loan injection -IMF

JOHANNESBURG (Reuters) - South Africa’s economy is likely to contract by
7.2% this year due to the impact of the new coronavirus, and growing debt
repayments will hamper its recovery, the International Monetary Fund (IMF)
said on Tuesday.

 

The Washington-based lender approved $4.3 billion in emergency financing for
Africa’s most advanced economy late on Monday.

 

The IMF loan is part of $7 billion in planned borrowing from international
financial institutions. The BRICS Bank has approved a $1 billion loan, and
the African Development Bank says it will lend the government 5 billion rand
($304.55 million). Talks with the World Bank are ongoing.

 

In a country report complied by its executive team published on Tuesday, the
IMF said the recession would limit the government’s ability to reduce debt
and a bulging fiscal deficit.

 

“Despite the sizable relief package, the pandemic will drive the economy
into a deep recession in 2020, with adverse implications for the fiscal
deficit and debt,” the IMF said.

 

President Cyril Ramaphosa announced a 500 billion rand stimulus package in
April after imposing a strict lockdown in late March to curb infections,
which passed 450,000 this week, the most on the continent.

 

The IMF sees the consolidated budget deficit hitting 16% of gross domestic
product (GDP), with public debt at 78.1% of GDP in 2020 and 82.4% in 2021.

 

It said forecasts were “subject to prominent downside risks”, citing
increased bond issuance, social instability and bailouts to state-owned
firms, especially power utility Eskom, as risks.

 

“Specific and well-defined fiscal consolidation and reform commitments in
the October MTBPS (medium term budget) will be a critical first step to
establish the credibility of the reform efforts, followed by steadfast
implementation,” the IMF said.

 

In a letter to the IMF signed by the finance minister and the central bank
governor, South Africa said it was “open to introducing a debt ceiling in
addition to the nominal spending ceiling currently in place” to reduce
deficits. (South African rand = $0.0605)

 

 

 

 

Apple, Amazon, Facebook, Google face claims of 'harmful' power

The heads of some of the world's biggest tech companies have appeared before
Washington lawmakers to defend their firms against claims they abuse their
power to quash competitors.

 

Amazon boss Jeff Bezos said the world "needs large" firms, while the heads
of Facebook, Apple and Google argued their companies had spurred innovation.

 

The appearance comes as lawmakers consider tougher regulation and
competition probes are under way.

 

Some critics want the firms broken up.

 

Democrats pressed the tech titans on competition issues, while Republicans
were more concerned about how they managed information and whether they were
marginalising conservative views.

 

Congressman David Cicilline, the Democrat leading the congressional
committee holding the hearing, said a year-long investigation by lawmakers
had showed the online platforms had "wielded their power in destructive,
harmful ways in order to expand".

 

He said he was convinced the firms were monopolies and called for action.

 

"Some need to be broken up and all need to be properly regulated," he said
at the end of more than five hours of testimony.

 

Facebook's Mark Zuckerberg, Amazon's Jeff Bezos, Sundar Pichai of Google,
and Tim Cook of Apple insisted they had done nothing illegal and stressed
the American roots and values of their firms.

 

What are the main concerns about the tech giants?

At the hearing, lawmakers accused Google of having stolen content created by
smaller firms, like Yelp, in order to keep users on their own web pages.

 

Amazon's treatment of sellers on its site, Facebook's acquisition of
competitors such as Instagram, and Apple's App store also drew attention.

 

In response to claims Google had stolen content, Google boss Sundar Pichai
said the firm held itself to the "highest standard"

Mr Cicilline said Amazon had an inherent conflict of interest, since it both
hosts sellers and competes against them by offering similar products. Such
practice has also come under scrutiny from European regulators.

 

"Amazon's dual role... is fundamentally anti-competitive and Congress must
take action," he said.

 

However, some Republicans signalled they were not prepared to split up the
firms or significantly overhaul US competition laws, with one committee
member saying "big is not inherently bad".

 

Republican concerns focused on perceived political bias at the firms, which
they accused of suppressing conservative views.

 

"I'll just cut to the chase - big tech is out to get conservatives," said
Congressman Jim Jordan, a Republican from Ohio.

 

Tech giants face feeding frenzy

Four of the world's top technology company executives may have been
testifying before the Judiciary Committee from a distance, but they were
still caught in the middle of a political storm on Wednesday afternoon.

 

The stated purpose of the hearing was to address whether existing anti-trust
laws provide sufficient regulation of transnational tech Goliaths. The
reality, however, was that the proceedings - with each member of the
committee receiving five minutes to speak - were more akin to a feeding
frenzy, as corporate chiefs faced criticism from every direction

 

Democrats expressed concern that the companies were abusing their power by
disadvantaging competitors or buying them out entirely. Republicans accused
the witnesses of insufficient patriotism and being too cosy with the
Chinese.

 

Both sides expressed outrage over how the companies managed speech and
expression on their platforms. They didn't go far enough in removing hateful
rhetoric and false information, Democrats said. They singled out
conservatives for censorship, the Republicans countered.

 

Through it all, the witnesses thanked the questioners and took their lumps,
perhaps confident that they could soon log off and get back to their work.
While all the politicians seemed to agree that the big tech companies were a
problem, their chances of arriving at any kind of solution seems unlikely.

 

What did the companies say?

Appearing by remote video, the executives defended their companies, saying
their products helped smaller businesses and they remained vulnerable to
competition from newcomers.

 

Apple boss Tim Cook said the business climate was "so competitive I would
describe it as a street fight for market share in the smartphone business".

 

Mr Bezos, in his first appearance before Congress, denied that Amazon's
multiple roles were a conflict of interest, but he admitted the firm was
reviewing its handling of sales data from sellers on the site.

 

The company has been accused of using such information to launch its own
version of hot-selling products.

 

Mr Bezos said Amazon rules forbid staff from looking at sales data from
individual companies, but he conceded it was possible that employees had
violated the policy.

 

"We are investigating that," he said.

 

In his prepared remarks, Mr Bezos said Amazon faced significant competition
from firms such as Walmartand noted that the company lost money for years as
it branched out into new areas.

 

"I love garage entrepreneurs - I was one. But, just like the world needs
small companies, it also needs large ones. There are things small companies
simply can't do," he said.

 

What has Donald Trump said?

US President Donald Trump is a long-time critic of Amazon and threatened his
own action on Twitter, writing: "If Congress doesn't bring fairness to Big
Tech, which they should have done years ago, I will do it myself with
Executive Orders."

 

He also told reporters that White House officials would be watching the
hearing closely.

 

"There's no question that what the big tech companies are doing is very
bad," he said.

 

Tech analyst Dan Ives of Wedbush Securities said "storm clouds" were
building in Washington but he thought it was unlikely that Congress would
come together on new legislation that would force tech companies to change.

 

"We think a legislative fix is the only one that creates a potential for
limitations on these companies' ability to conduct business, whether that
takes the form of higher taxes or new rules regarding market concentration,"
he wrote.

 

"Absent a legislative fix, we don't see meaningful change in regulation,
although future acquisitions will most certainly be scrutinized and more
difficult to close."--BBC

 

 

 

Boeing to end 747 production and warns of job cuts

Boeing has said it will stop making its classic 747 plane and is eyeing
steeper job cuts than those it has previously announced.

 

The firm is also planning to slow production of many of its jets, including
the troubled 737 Max.

 

The changes come as the firm disclosed a $2.4bn (£1.8bn) loss as the virus
depressed demand for air travel.

 

"The reality is the pandemic's impact on the aviation sector continues to be
severe," said Boeing boss Dave Calhoun.

 

Airlines around the world have responded to the coronavirus pandemic by
reducing their fleets and delaying or cancelling aircraft orders.

 

This month British Airways became the latest to say it was retiring all of
its 747 jets - about 10% of its fleet - citing the fall in passenger demand.
Australian airline Qantas has also retired the jet, which marked its 50th
anniversary last year.

 

Boeing said the slowdown may mean deeper job cuts on top of roughly 16,000
layoffs - around 10% of its workforce - it has already planned.

 

"Our government services, defence and space programs provide some critical
stability for us in the near-term as we take tough but necessary steps to
adapt for new market realities," Mr Calhoun said.

 

"We are taking the right action to ensure we're well positioned for the
future."

 

The pandemic has exacerbated the crisis facing Boeing, which was already in
trouble following two fatal crashes of its 737 Max plane which killed 346
people.

 

The jet has been grounded since last March, costing the company some $20bn.
The scandal led to the departure of top executives and a string of ongoing
investigations.

 

Boeing said it has re-started production of the 737, but it expects the rate
of manufacturing to remain low for the foreseeable future as the virus
weighs on the industry.

 

It said it hoped to be making 31 per month by the beginning of 2022 -
instead of during 2021 as planned. That would be roughly half the rate of
the firm's production before the grounding.

 

"While there have been some encouraging signs, we estimate it will take
around three years to return to 2019 passenger levels," Boeing said.

 

Falling sales

Boeing said it lost $2.4bn in the three months to 30 June, as sales fell 25%
to $11.8bn.

 

Last year, it reported a $2.9bn loss in the same quarter, driven by a charge
of more than $5bn related to the grounding of the 737 Max.

 

The sales decline was driven by its commercial unit, which serves passenger
airlines. Revenue dropped 65% as the firm delivered just 20 planes in the
quarter, compared to 90 a year ago.

 

Sales in the firm's defence, space and security unit were essentially flat
at $6.5bn.--BBC

 

 

 

UK car production slumps to lowest level since 1954

The number of cars built in the UK over the past six months has slumped to
the lowest since 1954, according to the industry's trade body.

 

A total of 381,357 cars were made the six months to June, down 42% on the
period last year, said the Society of Motor Manufacturers and Traders
(SMMT).

 

The coronavirus lockdown led to widespread closures and job losses.

 

But the SMMT warned more jobs were at stake amid fears of a "double whammy"
with the addition of Brexit tariffs.

 

The trade body estimated that 11,349 jobs were lost in the past six months
at carmakers and companies which supply them with parts and services.

 

Britain's major carmakers all suspended production earlier in the year in
response to the lockdown, including Jaguar Land Rover, Honda and Nissan.

 

Car production fell by 48% in June compared to the same month a year ago,
with 56,594 units made, as social distancing measures and weak demand across
global markets continued to restrict output.

 

In June, manufacturing for car sales in the UK market was down by 63%, while
exports were 45% lower.

 

Mike Hawes, SMMT chief executive, said: "These figures are yet more grim
reading for the industry and its workforce, and reveal the difficulties all
automotive businesses face as they try to restart while tackling sectoral
challenges like no other.

 

"Recovery is difficult for all companies, but automotive is unique in facing
immense technological shifts, business uncertainty and a fundamental change
to trading conditions while dealing with coronavirus."

 

UK car output was forecast to hit two million in 2020, but deteriorating
market conditions compounded by coronavirus are likely to cut that number by
more than half, Mr Hawes said.

 

The SMMT called for urgency in talks to secure an EU trade deal, saying most
car firms felt a lack of clarity was "severely hampering" preparations for
the end of the transition period.

 

Mr Hawes said the long term future of the motor industry now depended on
securing a good trade deal, pointing out that the EU remained the biggest
market for UK cars.

 

He said the industry was facing a "plethora" of issues, with the heavy
investment needed to make vehicles more environmentally-friendly adding to
the uncertainties of Brexit and the recovery from Covid-19. Sales in
September will be crucial in determining the future of the industry, he
added.

 

Analysis by the SMMT, published alongside Thursday's output figures,
suggests that without a positive trade agreement with the EU, and the
industry falling back to trade on World Trade Organisation terms with 10%
tariffs, annual output could stay around 800,000 to 2025.

 

The report added that significant questions remained about the nature of
trading conditions from January, with uncertainty about customs procedures,
regulation and damaging tariffs causing "real concern."--BBC

 

 

 

Offices could relocate to suburbs, survey suggests

Local high streets could be poised for a revival if the trend for home
working continues, a survey suggests.

 

The Royal Institution of Chartered Surveyors' latest commercial property
survey found almost all members - 93% - saw businesses scaling back their
office space in the next two years.

 

It said a move away from urban hubs could prompt a shift to neighbourhoods.

 

RICS found most members expect retail and office rents to fall further this
year.

 

Three-quarters of the commercial property agencies and valuation businesses
it surveyed, said the market was in a downturn, with just over one in 10
predicting conditions had reached the bottom of the cycle.

 

'Horrible' offices look to tempt back workers

Barclays: We want our people back in the office

The vast majority of respondents thought rents would fall in the next three
months, the most pessimistic reading since 2008.

 

Commercial sector 'polo mint'

Hew Edgar, head of UK government relations for RICS, warned of a "polo mint"
effect - a hollowing out of city centres.

 

But he said this could bring benefits, if properly managed: "With downturn
there can be opportunity, government must also look to replace uncertainty
with stability; and fill the middle of the commercial sector polo mint.

 

"Offices and shops in city centres need support as people stay away from
their normal workplace, and although local shop hubs are benefitting the
market must be addressed as a whole."

 

Simon Rubinsohn, RICS Chief Economist, said tenants are thinking about a
shift because commercial property in central locations is more expensive,
while people are wanting to work more from home and spend extra time in
their neighbourhoods.

 

"For a lot of businesses they are thinking about that opportunity to move
towards suburban locations. We're looking at a very different model going
forward: there may still be a central location but it may just be a lot
smaller."

 

Addressing the housing crisis

He said that will free up property for housing.

 

"It's quite clear the pandemic is going to result in more space becoming
available. One of the obvious answers to that is to begin... to think about
addressing the housing crisis that we have through use of some of this
space."

 

However, Mr Rubinsohn added building conversions must meet quality standards
for housing.

 

"I think it's really important that standards form the backbone of this
conversion process," he said.

 

Mr Edgar said the government's recent proposal to loosen building
development laws was flawed.

 

"It is possible to deliver viable office-to-residential schemes through the
more stringent planning permission process," he said.--BBC

 

 

 

Federal Reserve warns of continuing need to protect US economy

Federal Reserve Chairman Jerome Powell holding a media conference to explain
the Fed's strategy.

The US central bank has repeated its vow to protect the US economy amid
rising coronavirus rates and worries about growth.

 

The Federal Reserve kept interest rates on hold at near zero on Wednesday,
saying it would keep them there for as long as necessary.

 

A Fed statement said there were signs of an economic pick up recently.

 

But it warned that the long term path of the economy was bound up with the
path of the virus.

 

"Following sharp declines, economic activity and employment have picked up
somewhat in recent months but remain well below their levels at the
beginning of the year," policymakers said at the end of their latest two-day
meeting.

 

All members of the Fed's policy-setting committee voted to leave the target
range for short-term interest rates at between 0% and 0.25%, where it has
been since 15 March when Covid-19 was starting to take hold in the country.

 

Republicans introduce $1tn pandemic recovery plan

 

The millions of Americans 'hanging by a thread'

 

"The Committee expects to maintain this target range until it is confident
that the economy has weathered recent events and is on track to achieve its
maximum employment and price stability goals," the statement said, adding:
"The path of the economy will depend significantly on the course of the
virus."

 

Economists said the Fed's stance on interest rates suggests they are
unlikely to rise significantly for quite some time.

 

Gregory Daco, chief US economist at Oxford Economics, said: "We forecast
that rate lift-off will not take place until mid-2024 as inflation struggles
to reach 2% on a sustained basis and the unemployment rate lags [behind]
improvement in the overall economy."

 

Bankrate.com's chief financial analyst Greg McBride said the Fed's low-rate
strategy had kept credit flowing to consumers and businesses, helping to
support the housing market and retail spending.

 

"But they can't tame the virus or manufacture demand, and that's what the
economy desperately needs in order to bounce back," he said.--BBC

 

 

 

 

 

 

 


 


 


 

 


 

INVESTORS DIARY 2020

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


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> 

 


 

 


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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 



 

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