Major International Business Headlines Brief::: 14 April 2021

Wed Apr 14 08:55:15 CAT 2021

 <https://bullszimbabwe.com/> 

 <http://www.bullszimbabwe.com> Bullszimbabwe.com         <mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments        <https://bullszimbabwe.com/category/blogs/bullish-thoughts/> Bullish Thoughts        <http://www.twitter.com/BullsBears2010> Twitter         <https://www.facebook.com/BullsBearsZimbabwe> Facebook           <http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn          <https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp         <mailto:info at bulls.co.zw?subject=Unsubscribe> Unsubscribe

Major International Business Headlines Brief::: 14 April 2021

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

ü  Grab set for $40bn valuation in US share listing

ü  NZ to launch world-first climate change rules

ü  Black youth unemployment 'hits 35% in pandemic'

ü  Newquay is hottest sellers' market, says Rightmove

ü  The student loan bubble 'is going to burst'

ü  CEO Secrets: 'Taking risks is how we found our edge'

ü  UK exports to EU rebound partially after January's slump

ü  Brexit prompts JD Sports to open Dublin warehouse

ü  Estate agent's hi-tech house tour exposes personal data

ü  Denmark charges six from UK and US with cum-ex fraud

ü  Nigeria: France to Strengthen Trade Ties With Nigeria

ü  Nigeria: Twitter to Recruit Nigerian Language Translators

ü  Tanzania: Ugandans Criticize Oil Pipeline Deal With Tanzania and Total

ü  Egypt Impounds Ever Given Over Suez Compensation Claim

ü  World stocks hit record high as bond yields ease with inflation fears

ü  Toshiba CEO steps down, shares surge on bidding war expectations

 <mailto:info at bulls.co.zw> 

Grab set for $40bn valuation in US share listing

Grab, the dominant ride-hailing and food delivery firm in South East Asia, is preparing to list shares in the US in a deal that values the firm at nearly $40bn (£29bn).

Shares will trade following a merger with US-listed Altimeter Growth Corp.

Grab expects to raise more than $4bn via the transaction, which is expected to be completed by July.

The listing would mark the largest US share offering to date by a South East Asian company.

Altimeter Capital chief Brad Gerstner said his company was drawn to Grab due in part to its leading position in a part of the world where technology-fuelled economic changes are still in their "early days".

"We've already seen this movie - how profit and growth has unfolded in the US, China, Europe and Latin America and we're now seeing that and better in South East Asian markets." he said in a presentation for investors, in which he compared Grab to "Uber, Doordash plus Ant Financial all in a single app".

"They really are at the forefront of the digital transformation in the region."

Launched in 2012 as a ride-hailing app like Uber, Grab has since expanded broadly.

Active in eight countries and roughly 400 cities, it now handles food and grocery deliveries, courier services, digital payments and more for an active customer base of more than 25 million people as of December.

It was already considered South East Asia's most valuable start-up, with a net worth estimated at roughly $15bn in a private fundraising round in 2019.

The firm's adjusted net revenue for 2020 was $1.6bn, but the company has yet to make a profit. It is also facing increased competition in the major market of Indonesia from rivals Gojek and Sea, which started trading in the US in 2017.

Grab said the merger with Altimeter, which will bring $4bn from Altimeter and other heavyweight investors such as Blackrock, T Rowe Price, Fidelity and others, would allow it to build on its growth.

"Despite Covid-19, we've come out of 2020 stronger than ever, demonstrating the resiliency of our business," said Grab co-founder Anthony Tan. "Going public now will give us wind in our sails to accelerate our mission."

Altimeter Growth Corp was set up last year by Silicon Valley-based venture capital company Altimeter Capital Management, a firm that has backed firms such as Uber, Zillow and others.

Altimeter Growth is a "special purpose acquisition vehicle" or Spac, established with the purpose of finding a private firm to merge with and then take public on the stock market.

The race to create the world's next super-app

Such firms, also called "blank cheque companies", have seen a surge of popularity in recent years, and are seen as a faster route to taking a company public with less scrutiny.

Following the merger, Grab and Altimeter will form a new holding company, expected to be valued at $39.6bn.

That will benefit existing investors, which include Japan's Softbank and China's Didi Chuxing. Uber also took a large stake in the company after selling its South East Asian business to Grab in 2018.

Grab's $40bn valuation is a coming of age for South East Asian tech firms

In less than a decade, Grab has gone from a simple taxi firm in Malaysia to the region's most valuable startup - and now is getting ready to list on the Nasdaq in a $40bn valuation.

It's the stuff startup fairytales are made of.

But it's also a testament to the fast-growing South East Asian market - what many analysts and investors see as the next big space for consumer tech firms.

The growth of the middle class, a youthful demographic and lots of discretionary spending are factors underlying the region's appeal.

Grab's Spac listing route is likely to encourage both investors and private firms in this region to go the same way.

Indonesia's Traveloka, Gojek and Tokopedia are amongst some of the firms reportedly looking to raise funds or use a Spac to list.

But while this region is massively attractive and growing fast - challenges remain. It's a hugely fragmented market with lots of homegrown competition.

Other South East Asian startups may not see the same fairytale ending Grab has.-BBC

NZ to launch world-first climate change rules

New Zealand is to become the world's first country to bring in a law forcing its financial firms to report on the effects of climate change.

The country wants to be carbon neutral by 2050 and says the financial sector needs to play its part.

Banks, insurers and fund managers can do this by knowing the environmental effect of their investments, says its Climate Change Minister James Shaw.

Legislation is expected to receive its first reading this week.

"This law will bring climate risks and resilience into the heart of financial and business decision making," said Mr Shaw.

About 200 of the country's biggest companies and several foreign firms that have assets of more than NZ$1bn ($703m, £511m) will come under the legislation.

"Becoming the first country in the world to introduce a law like this means we have an opportunity to show real leadership and pave the way for other countries to make climate-related disclosures mandatory," said New Zealand's Commerce and Consumer Affairs Minister David Clark.

The law will force financial firms to assess not only their own investments, but also to evaluate the companies they are lending money to, in terms of their environmental impact.

"While some businesses have started publishing reports about how climate change may affect their business, strategies and financial position, there is still a long way to go," added Mr Clark.

Once the law is passed, companies will have to start reporting on climate change impact in 2023.

Banks have come under increasing pressure to step up efforts to help fight climate change.

Invest in nature

Last week, the Duke of Cambridge urged banks to "invest in nature" to help fight global climate change.

Speaking at an IMF and World Bank meeting, Prince William said protecting nature continued to play only a small part in combating global warming.

"We must invest in nature, through reforestation, sustainable agriculture and supporting healthy oceans… because doing so is one of the most cost effective and impactful ways of tackling climate change," he said.

In the US, more than 300 businesses and investors, including tech giant Apple, called on the Biden administration to set an ambitious climate-change goal on Tuesday.

This would cut US greenhouse gas emissions by at least 50% below 2005 levels by 2030. This target is nearly double America's previous commitment on emissions reduction,--BBC

Black youth unemployment 'hits 35% in pandemic'

Young black people have been hardest hit by unemployment during the pandemic, new research indicates.

Over the past year, the UK jobless rate for young black people rose by more than a third to 35%, the Resolution Foundation think tank said.

That compared with a rate of 24% for young people of Asian descent and a rate of 13% for young white people, both up three percentage points.

The foundation said Covid had widened existing gaps between ethnic groups.

It added that young people in general had borne the brunt of job losses in lockdown, because they disproportionately worked in sectors hit by the crisis, such as hospitality and leisure.

At the height of the pandemic last year, between the second and third quarters of 2020, the unemployment rate among 18 to 24-year-olds rose from 11.5% to 13.6%, the foundation said.

This was the largest quarter-on-quarter rise among this age group since 1992.

Kickstart call

"The rise in youth unemployment is not just about those losing their jobs, but also about young people not finding work in the first place," the foundation added.

"Those who left education just before or during the crisis - the so-called class of 2020 - have faced particular difficulties, with unemployment rising fastest among those who recently left education.

"Having a degree has not protected recent graduates from this effect."

But here too, there is a big disparity between ethnic groups.

By the end of last year, unemployment among young black graduates had risen to 34%, up from 22% before the pandemic.

That was a rate almost three times that of young white graduates during the same period (13%). The unemployment rate for young Asian graduates during this period was 24%.

The Foundation called for the government's £2bn Kickstart youth jobs scheme to be expanded and extended to protect young people from the impact of long-term unemployment.

It also urged special efforts to ensure that young people from hard-hit ethnic backgrounds had access to the scheme, alongside access to quality education and training options, and, where needed, financial support for full-time study.

Kathleen Henehan, a senior research and policy analyst at the Resolution Foundation, said: "The furlough scheme has done a fantastic job of minimising job losses amidst unprecedented shutdowns of our economy.

"But young people have still experienced a sharp rise in unemployment during the Covid-19 crisis - with recent education-leavers and young black people being hardest hit.

"This pandemic has created a highly generationally unequal unemployment surge and widened pre-existing gaps between different ethnic groups.

"Young people have sacrificed their livelihoods in order to save the lives of others from Covid-19, and putting their careers back on track must be a priority for government in the months and years ahead."--BBC

Newquay is hottest sellers' market, says Rightmove

Newquay has been named the hottest property seller's market by online property portal, Rightmove.

It says eight out of 10 listed homes have been sold, subject to contract, since the start of the year, the fastest moving market in the UK.

Reflecting the trend for less-centralised living, it says city centre properties are moving much more slowly.

Birmingham city centre is the worst place for sellers. Only 18% of properties have sold so far this year.

The start of restrictions easing has increased activity in what Rightmove says was already an incredibly busy housing market.

This high demand has pushed prices to record highs in some areas.

Its findings reflect those made by others in the property business.

Last week the Halifax said there was "something of a resurgence" in the UK housing market in March. The Chancellor, Rishi Sunak, moved to help home buyers by extending the holiday on property stamp duty in England, Northern Ireland and Wales.

Early last month the tax, which has been suspended on the first £500,000 of all property sales in England and Northern Ireland since July, was extended for another three months to the end of June.

The Halifax said this was key to the annual rise of 6.5% in house prices, taking the average to £254,606 in March.

Rightmove said the ten hottest sellers' markets it recorded had all seen asking prices hit records since the market reopened last May, with seven of them hitting a price record in 2021.

The most popular market after Newquay is Newton-Le-Willows in Merseyside, where just under 82% of listed properties are sold, subject to contract, followed by Plymstock in Devon, where 81% are at that stage in the selling process.

The findings echo research conducted last month by Rightmove and the BBC.

It looked at the most popular places people were searching for property, finding Cornwall had overtaken London this year as the most searched for location on Rightmove, while neighbouring Devon was the third most searched for and Dorset rose from 20th to 10th.

'Crazy'

Bradley Start, partner at Start & Co Estate Agents in Newquay, said: "The stock shortage is the worst I've seen in 30 years and there's just seemingly endless demand.

"We're getting requests for viewings within minutes of a property going on Rightmove and many properties are going to best and final offers due to the competition, something that usually we would only see a few times a year."

Simon Shepherd, manager of Ashtons in Newton-Le-Willows, said: "The past year has just been crazy. Right now I've had to rip up the rule book because the demand means it's hard to predict what a home is going to sell for, as in many cases we're achieving over the asking price."

'Truro is like San Francisco in some ways'

Marshall Moore was among those looking to move.

The 50-year-old spent the last 15 years living in the mega-cities of Seoul and Hong Kong before moving to just outside Truro.

The US academic told the BBC last month :"It is such a relief. It is gorgeous and cultural and, in some ways, like San Francisco - but with more wind."

Mr Moore, who teaches creative writing, was given the chance to move owing to his job, but is clear about the benefits of the location.

"There is openness, space, fresh air, it is calm and there's the mild weather," he says. "We can also afford to live in an actual house rather than an apartment. I feel incredibly lucky."--BBC

The student loan bubble 'is going to burst'

Cancelling student debt was once a fringe idea in the US, but as loans mount, it's become increasingly mainstream.

For her birthday this year, Alicia Davis received one of the best gifts ever: word that roughly $20,000 (£14,500) of her student debt would be erased.

It's a massive relief, resolving an issue that has drawn threats from debt collectors, raised questions in job interviews and ruined her credit, making it difficult to do things like buy a car.

"This is the best birthday present," the 38-year-old recalls thinking. "I'm able to function in society now."

The forgiveness came after the Department of Education in March agreed to fully cancel debts from borrowers, like Alicia, who had proven to officials that their schools had misled them about things like cost and employment prospects.

The move was among a series of steps the Biden administration has taken to address America's rapidly mounting student debt, which hit $1.7 trillion (£1.2tn) last year. But he faces pressure from his party to do far more.

Top Democrats, including Senate Majority Leader Chuck Schumer, have called on the president to use his power to wipe out borrower debts up to $50,000.

The proposal would completely eliminate debts for more than 34 million people and could cost as much as $1tn by some estimates - as much as the country has spent on housing assistance over two decades.

For Washington, the embrace of such demands marks a striking change, as an idea advanced by anti-corporate greed Occupy Wall Street activists a decade ago - and resoundingly rejected by the Trump administration - moves to the heart of political debate.

"It's an issue that has really reached a critical moment where it just cannot persist as it has any longer," says Persis Yu, director of the Student Loan Borrower Assistance Project at the National Consumer Law Center.

"The fact that widespread cancellation has gained so much momentum and is now more of a mainstream idea is an acknowledgement of that crisis."

How did the US get to this point?

More than 42 million people in the US - roughly one in six adults - hold student debt, which averages roughly $30,000 for a four-year undergraduate degree.

Financial stress from the loans, which bring typical monthly bills of nearly $400 for recent graduates, has been blamed for holding back a generation financially.

'Are we going to be another lost generation?'

What Joe Biden wants to do

My $88,000 debt due to 'wrong kind of loan'

Nearly a fifth of borrowers are in default and millions more are behind on payments, which come due shortly after graduation regardless of employment or income.

The government, which owns more than 90% of the debts, estimates that roughly a third will never get repaid.

Previous efforts to address the issue have focused on borrowers who were misled by for-profit universities about fees and job prospects.

The US has also tried to expand programmes that reduce debts for people in certain public service jobs, or tie repayment to income - moving closer to a system like that in the UK, where the average debt load is higher and the government expects more losses, but borrowers are better shielded from issues like default.

But widespread problems with actually accessing the US programmes have led to demands for broader, more immediate loan forgiveness, in addition to other reforms.

"We need widespread debt cancellation of some amount to help clear the books," says Ms Yu, whose organisation recently obtained federal data that showed that just 32 people had actually had their debts forgiven via income-driven repayment plans.

"It's really hard to discern who deserves relief and who doesn't," she adds. "If you want to start slicing and dicing who is entitled to relief, I assure you folks who need it won't get it."

'Our system is broken'

Alicia says she's an example of how big the problem is. She won the $20,000 debt discharge after years of fighting over loans she took out when she enrolled in a for-profit Florida college in 2006, hoping to launch a career in law enforcement.

Two years in, she says the school stopped communicating with her.

"It didn't seem right that I would pay all this money and have nothing to show for it," says Alicia, who joined the student loan advocacy group Debt Collective and filed claims with the government, ultimately suing to force action.

But even after winning that battle, she still faces the prospect of decades of bills to repay the further $75,000 she took on to finally earn her masters degree from a public university while working as a bartender.

"I'm not paying for something that was a scam but I'll still have tonnes of debt," says Alicia, now a private intelligence analyst.

"Our system is broken," she adds. "It's to the point now where it's like the housing bubble - it's going to burst. You can only milk people so much before they just give up."

'Fundamentally unfair'?

President Biden has backed forgiveness of up to $10,000 in debt - a proposal analysts estimate would affect about a quarter of outstanding debt, or more than $400bn, and completely eliminate burdens for more than 15 million people.

But he has rejected the calls to waive up to $50,000.

"I will not make that happen," he said at a town hall earlier this year, arguing that such a move would benefit graduates of elite professional schools, like doctors and lawyers, and the money would be better spent, for instance, on lowering tuition costs.

His resistance reflects voter concerns.

In a February Harris poll of roughly 1,000 adults, just 46% of people said they supported some level of debt forgiveness, down from two months earlier. Republicans have also consistently opposed widespread debt relief.

"It's fundamentally unfair to ask two-thirds of Americans who don't go to college to pay the bills for the mere one third who do," Donald Trump's Education Secretary Betsy DeVos said in a speech last year.

Advocates say they remain hopeful that Mr Biden will act, noting that the issue is especially important to young voters and ethnic minority communities, who were key to his election victory.

They say they have been encouraged by steps he has taken that would clear the way for forgiveness to occur, such as asking for a formal legal opinion about his powers to do so without Congress, and that he should seize the chance for reform while student loan payments are on hold due to the pandemic.

"You have this once-in-a-generation opportunity to actually fix things before people have to start paying their bills again," says Mike Pierce, director of policy at the Student Borrower Protection Center.

"It's going to be a test of this administration's political will whether they can actually get the job done."--BBC

CEO Secrets: 'Taking risks is how we found our edge'

When George James started the social media agency Be-Hookd Digital eight years ago, he thought he and his then-business partner made the perfect team.

"I was young. I had big ideas. I understood social media," he says. "My business partner would win clients with her experience. She could convince clients to work with us and spend money with us."

Be-Hookd Digital works on social media strategies for clients such as musicians and fashion brands, to try and get them news headlines.

"We are the link between artists and their fans," says George, 32. "We turn fans into superfans."

Be-Hookd's clients include singer-songwriter Emily Burns, Irish rock group The Script and fashion label Ralph & Busso.

For the first six months after it was founded, Be-Hookd prospered. George thought up eye-catching events for the clients while his older, more mature business partner pitched for business and developed the company strategy.

However, she was then lured away to do a more lucrative job elsewhere. George felt that without her guiding presence, clients would desert the agency and it would collapse.

"I was left almost at the brink of thinking: 'Shall I just close this down and go and get a normal job?'" he says.

"The thought of trying to convince the type of clients we were working with to continue working with a 23-year-old with a couple of members of staff just seemed like such an uphill struggle."

George's problem was that his competitors in the advertising and PR industries were seen as safer pairs of hands than he was. They would spend a long time formulating promotional strategies for clients. George's instincts were to risk everything on the success of a quirky idea which he had thought up on the spur of the moment.

For instance, he once had the idea of persuading the illustrators of the cartoon character Peppa Pig to draw her with a crown on her head, mimicking the crown worn by the rapper Stormzy. This provoked a Twitter row between Stormzy and Peppa which spilt over onto the TV breakfast shows, gaining publicity for both sides.

However, George feared that many clients would pass up on such quirky publicity ploys.

"Big companies were used to seeing agencies playing it safe," he says. "Process and protocol are everything."

However, George's father persuaded him to stay in the PR industry and continue trying to pitch for clients by making a virtue of the qualities he had.

"My father said: 'Maybe you want to look at what makes you individual, and how you might be able to convince people to stay with you and win these clients back.'

"I thought to myself: 'Being small and not being established and being irresponsible and a bit fun and taking risks - these companies want a slice of that.'"

George has since grown Be-Hookd to employ 40 people. It has offices in London, New York and Los Angeles. His gamble - selling himself on his qualities of quirkiness and originality - has paid off.

"I turned what I thought was my weakness into a strength," he says. "It's how our agency found our edge."-BBC

UK exports to EU rebound partially after January's slump

Trade between the UK and EU partially recovered in February, after a steep drop in January following Brexit.

Official figures show exports to the EU jumped by 46.6%, £3.7bn, to £11.6bn, following January's 42% slump when firms struggled with new trade rules.

However, the Office for National Statistics said exports were still below last year's levels and imports from the EU had seen a weaker recovery.

Other figures from the ONS showed the UK economy grew by 0.4% in February.

The UK's statistics body said the economy was still 7.8% smaller than a year earlier, before the impact of the pandemic.

Last month's trade figures were the first since new trading rules came into force as a result of Brexit trade rule changes.

Both the ONS and business analysts said the drop in trade flows was partly caused by stockpiling in December 2020, as businesses tried to get ahead of the introduction of the new rules, depressing trade in January.

In addition, the end of the temporary trading arrangement between the UK and the EU coincided with the discovery of a new strain of Covid-19 in the UK, which caused further complications and delays, after lorry drivers were required to take tests before crossing the border at the English Channel.

An ONS spokesperson said: "Exports to the EU recovered significantly from their January fall, though still remain below 2020 levels. However, imports from the EU are yet to significantly rebound, with a number of issues hampering trade."

The Federation of Small Businesses said overall sales had dropped by £2.5bn and its members needed more help.

'Welcome growth'

Chairman Mike Cherry said: "UK exports have tumbled since the end of the [Brexit] transition period.

"International sales are way down on where they were at this time last year. A fifth of small exporters have halted sales to the EU temporarily and some have already given up on selling into the bloc on a permanent basis."

But a government spokesperson said the statistics showed "welcome growth" in the value of trade with the EU in February.

"This is in line with our predictions last month as we saw increasing volumes of freight traffic to and from the EU.

"The vast majority of traders and hauliers have adapted well, and our focus now is on making sure that any business that is still facing challenges gets the support they need to trade effectively with the EU."

Trade graph

UK imports from the EU rose by 7.3%, or £1.2bn in February to £17.1bn, after dropping 29.7% the month before.

The ONS said the export increases were driven by machinery, transport equipment and chemicals.

The ONS said it was too early to make any conclusions about the impact of the new trading arrangements with Europe.

Total imports of goods from non-EU countries rose by 10.2% to £17.9bn in February, while exports fell by 10.5% to £12.7bn.

'We've seen huge disruption'

Mark Callaghan is the chief executive of British Corner Shop, an exporter of British food and drink brands.

He says his firm "battled" to find a solution to continue to export its products, particularly on the consumer channel into the EU.

British Corner Shop had to cut its product range down from 10,000 to 1,400, and is planning to open its own distribution centre in the EU.

This means the loss of 40 jobs in the UK, and the new centre will see 60 new jobs in the EU.

"We were jumping with joy when Boris announced in late December that there was a deal with the EU and it would be trade as normal, so we were very excited about that," he told the BBC.

"[It would mean] minimal disruption for the business, but that hasn't been the case.

"We've seen huge disruption, we've seen a massive drop in sales, we've had to reduce our workforce by 40 people and we're moving those jobs into the EU, so I wouldn't say that it's been successful at all."

After a 42% plunge in January in sales to the EU, February's bounce back of 46.6% is more the kind of figure the government would like associated with Global Britain's new trading era.

But just as the earlier figures weren't conclusive evidence that the new arrangements for trading with Europe posed a widespread sustained problem, the latest ones don't mean it's back to business as usual either.

Many companies avoided sending goods across the border in the previous month, for fear of disruption or delay, having shipped orders ahead of time where they could. Both January's fall and February's rebound were led by non-perishable items - chemicals, machinery - which are easily stockpiled . That trade resumed in February, while many other exporters managed to get to grips with the new formalities.

But export levels remain below where they were for much of 2020, and anecdotal evidence suggests some exporters - particularly those of fresh foods - remain overwhelmed by the new checks and forms. They are urging the government to help simplify processes. Meanwhile the pandemic continues to weigh on demand.

With the EU typically buying more than two-fifths of British exports, tackling remaining issues will be instrumental to getting the economy back on its feet.

Confidence 'picking up'

Covid restrictions remained in place to varying degrees across all four nations of the UK during January and February.

"The economy showed some improvement in February after the large falls seen at the start of the year but remains around 8% below its pre-pandemic level," an ONS spokesperson said.

Sarah Hewin, from Standard Chartered Bank, told the BBC's Today programme the outlook for the UK economy was improving.

"Confidence does seem to be picking up as vaccinations are spreading. We know households have built up their savings in many cases during lockdown. As lockdown restrictions are eased people are going to be able to go out and spend those savings and that will be a big boost to the economy.

"As we saw from the scenes yesterday people are keen to get out and spend when they can. There will be more opportunities for travelling and going on holiday and spending in restaurants and pubs will see people spending to go out and enjoy themselves."

The latest ONS data also indicated that the economy did not shrink by as much as initially estimated in January. The statistics body said gross domestic product (GDP) fell by 2.2% in January, an upward revision from its original estimate of a 2.9% drop.

"A slightly improved January data could mark the final contraction in the current crisis, with the economy beginning to gather strength even before the end of the lockdown," said Yael Selfin, chief economist at KPMG UK.

Rory Macqueen, principal economist at the National Institute of Economic and Social Research, said: "Clearly much of the economy has adapted to cope with Covid-19 restrictions... if the vaccine programme and lifting of restrictions continue on schedule this provides a firm basis for continuing growth in the second quarter and 2021 overall."--BBC

Brexit prompts JD Sports to open Dublin warehouse

Retailer JD Sports is to open a 65,000 sq ft warehouse near Dublin to tackle post-Brexit trading problems.

Goods which JD imports from East Asia to GB now incur tariffs when they are distributed onward to its stores across Europe.

To deal with this JD has already opened a warehouse in Belgium but says it needs a specific facility for Ireland.

The company says the Irish facility will become operational in the second half of this year.

It is also considering a bigger facility elsewhere in the EU from which it would process all EU online orders.

Brexit worse than feared, says JD Sports boss

In a trading update the firm said: "We continue to review opportunities for a larger permanent facility in Europe which can process substantially all of the volume required for stores and online orders in mainland Europe although it will likely be Autumn 2022 before an enlarged facility would be available for use."

In February the chairman of JD told the BBC that Brexit had turned out to be "considerably worse" than he feared.

Peter Cowgill said there was no true free trade with the EU, because goods that JD Sports imports from East Asia incur tariffs when they go to its stores across Europe.

"I actually think it was not properly thought out," he said.

"All the spin that was put on it about being free trade and free movement has not been the reality."--BBC

Estate agent's hi-tech house tour exposes personal data

An estate agent has apologised after a 3D tour of a house for sale in Devon was published with a substantial amount of personal information visible.

Financial paperwork in the study could be read by zooming in on the image.

It included a shares dividend cheque, an insurance policy document and an invoice for a stairlift. Some family photos had also been left unblurred.

Fowlers estate agent said the private data in the virtual tour had "slipped past" its staff and the home owner.

The house was available on the property platform Rightmove, and appears to have been live since October 2020. Additional stills photographs of the property showed empty rooms.

The firm's owner Philip Fowler told the BBC that his company had withdrawn the 3D tour along with all of its others for further review and said the estate agent "takes our clients' privacy very seriously". The owner of the home had given "verbal permission" for the video to be used, he added.

"We will be more diligent in the future," Mr Fowler said.

He also said that people choosing the 3D tour to help sell their properties were advised to put away sensitive material before the photos were taken.

Other identifiable data about the home-owners in the property included the names of their pets on a photograph (pet names are commonly used as passwords), clues about their political views based on their choices of reading material, and their health - an asthma inhaler was visible in one of the bedrooms.

The BBC has alerted the Information Commissioner's Office.

The video was discovered by Carole Theriault, co-host of the Smashing Security podcast, who said she was "gobsmacked" by the amount of personal information on display.

"There is way too much information on show for anybody watching the 3D virtual tour to see," she said.

"It's a treasure trove of private data - a veritable goldmine for identity thieves, phishers, you name it."

3D tours have become more popular for house-sellers, especially during the pandemic.

Carissa Veliz, author of Privacy is Power, said the estate agent should have taken more care.

"We are much better at collecting personal data than we are at keeping it safe, but if we can't keep it safe, we shouldn't be collecting it in the first place," she said.--BBC

Denmark charges six from UK and US with cum-ex fraud

Prosecutors in Denmark have charged three Britons and three Americans with defrauding the Danish treasury of more than 1.1bn kroner ($175m; £130m; €150m) through a German bank.

Two British citizens have already been charged as part of a "cum-ex" trading fraud that swindled the treasury of a total of 12.7bn Danish kroner.

Prosecutors believe the six charged are "the central principals" in the fraud.

If found guilty, they could face 12 years in jail.

How the scam worked

Denmark's Serious Economic and International Crime (SEIC) fraud squad said that for more than a year, between 2014 and 2015, hundreds of fake share trades were carried out via the Mainz-based North Channel Bank in Germany.

The aim was to defraud the Danish treasury of 1.1bn kroner through refunds for tax dividends. The bank made a substantial sum in fees and was eventually fined in 2019.

Denmark's was just one of a number of European treasuries caught up in the so-called "cum-ex" scandal, in which tax refunds on share sales were claimed by both parties on tax that had only been paid once.

In total, 12.7bn kroner was paid out to foreign-based people or companies, exploiting a loophole that allows foreigners to avoid the tax on dividends that Danes have to pay.

Germany fears huge losses in massive tax scandal

Two other Britons were charged in January for their alleged role in the Danish fraud. Among them is hedge-fund investor Sanjay Shah, who is reportedly in Dubai and denies any wrongdoing. He is also being prosecuted by German authorities.

Two British bankers were given suspended sentences by a German court last year for what the judge called a "collective case of thievery from state coffers". The cum-ex scam is estimated to have cost Germany's treasury €5bn.

Denmark has worked with UK, German and Belgian authorities on the scandal for the past five years.

Fraud prosecutors in Copenhagen said in February they were looking into a variety of networks of people and companies that had sought dividend tax refunds. They froze Sanjay Shah's mansion in London's Hyde Park last year as part of their case.

Prosecutors say they have now charged suspects linked to 10bn kroner out of the total defrauded from the Danish treasury.-BBC

Nigeria: France to Strengthen Trade Ties With Nigeria

France Minister in charge of Foreign Trade and Attractiveness, Franck Riester, is presently visiting Nigeria as part of efforts to strengthen the trade ties between both countries.

The visit is a follow up on the priorities set by France President, Emmanuel Macron, during his official visit to Nigeria in July 2018, and his desire to build a new partnership between Africa and France.

According to a statement from the French government, as the largest economy in Africa and the economic engine of West Africa, Nigeria is indeed a major partner for France, the first in sub-Saharan Africa with bilateral trade amounting to a total of $4.5 billion in 2019 (2.3 billion USD in 2020, due to the Covid-19 pandemic).

It explained that the Minister will have several official meetings in Abuja and Lagos, in order to underline the importance of the bilateral economic relationship and to prepare the summit on the financing of African economies in Paris, expected to hold on May 18.

"The objective of the mission is also to further strengthen the links between the French and Nigerian private sectors. In this regard, the Minister will have in-depth discussions with the main Nigerian economic actors to strengthen bilateral cooperation and investments, both in Nigeria and in France, particularly in the logistics sector.

"He will meet with young Nigerian entrepreneurs in the cultural and creative industries sector, to discuss the major role of their country in African creativity and the development of the African entrepreneurial ecosystem, with the support of France," the statement added.

The Minister is also expected to open the, "Choose Africa" conference, a €3.5 billion initiative by President Emmanuel Macron dedicated to supporting the development of start-ups and SMEs in Africa to enable the continent to benefit fully from the opportunities of the digital revolution.-This Day.

Nigeria: Twitter to Recruit Nigerian Language Translators

Following the establishment of its first African office in Ghana, Twitter said it would recruit experts of major local languages in Nigeria (Yoruba, Igbo and Hausa) for its operations.

The company stated that the remote position is available for all candidates but the employee must have a full understanding and interpretation of news content from the Nigerian media.

Other criteria for the job includes the ability for candidates to have adequate knowledge and understanding of English and Pidgin English which is also commonly spoken in Nigeria.

"Twitter is looking for a passionate people manager to take on the role of Curation Lead for Nigeria.

"This person will manage a team that is focused on quickly, accurately and impartially summarising complex conversations that are unfolding in real-time on Twitter and important to users in Nigeria.

"While this role is primarily focused on English and English Pidgin content, working proficiency in one or more of the following languages is an advantage: Yoruba, Hausa and Igbo," parts of the requirements on the career section of the company stated.

Jack Dorsey, Twitter CEO, on Monday announced via his Twitter handle that the company would be citing its first African base in neighbouring Ghana, to the chagrin of Nigeria's vast tech industry.- Leadership.

Tanzania: Ugandans Criticize Oil Pipeline Deal With Tanzania and Total

Ugandans are making disparaging comments on social media about the multibillion-dollar oil pipeline deal that the country has signed with Tanzania and Total. The secrecy surrounding it has raised fears of corruption.

Uganda, Tanzania and the French oil company Total, along with its investment partner in Uganda, the China National Offshore Oil Corporation (CNOOC), signed a series of agreements on Sunday to build a heated pipeline that will carry crude oil from western Uganda to the Indian Ocean coast.

The deal, worth $3.5 billion (€2.9 billion), and the secrecy surrounding the details have raised public fears of corruption.

Uganda's crude oil is highly viscous, which means that it needs to be heated to remain liquid enough to flow. The East African Crude Oil Project Pipeline (EACOPP) could be the longest electrically heated crude oil pipeline in the world, at 1,400 kilometers (850 miles). Construction is expected to begin this year.

Tanzania's new leader, President Samia Suluhu Hassan, was in Uganda to witness the signing of the documents -- perhaps her most important executive action since her inauguration in March.

The event was "an auspicious occasion" that would unlock the development of the region's oil resources, she said. The shareholder agreements cover the construction of the pipeline, which is designed to connect oil fields near Lake Albert to the Tanzanian port of Tanga.

Ugandan President Yoweri Museveni hailed the deal as a major milestone and a victory for the countries.

A blessing or a curse?

Robert Kyomuhendo Ruhigwa, a resident of Uganda's Albertine region, where the oil was discovered 15 years ago, is optimistic that the pipeline project will create much-needed jobs for unemployed youths.

"We have a lot of expectations. I'm a 25-year-old, and I expect that, when the government gets money from oil, it will invest it in education. We don't have any universities in the region. We expect the government to work with the oil companies to ensure that the youth get jobs," he told DW.

Kampala resident Christopher Kisekka is doubtful that the oil sector holds benefits for Ugandans. "Many Ugandans are expecting to supply these companies with needed materials but requirements to be our supplier are very high and very few people will meet these requirements," he told DW.

Beneath the waters and on the banks of Lake Albert, a 160-kilometer natural border that separates Uganda from the Democratic Republic of the Congo, lie some 6.5 billion barrels of crude, of which about 1.4 billion barrels are currently accessible.

The Uganda reserves could last 25 to 30 years with a peak production of 230,000 barrels per day. However, on March 1, more than 250 local and international organizations addressed major banks in a letter calling upon them to refrain from financing "the longest heated crude oil pipeline in the world", according to AFP news agency.

The letter cites "extensively documented risks", including "impacts to local people through physical displacement ...risks to water, biodiversity and natural habitats; as well as unlocking a new source of carbon emissions".

Despite anxiety over falling crude prices in recent years, hopes have remained high in Uganda over the potential for oil exports to lift the East African country into upper-middle-income status by 2040. The annual per capita income in Uganda was less than $800 in 2019.

A 2015 World Bank study emphasized that the economic benefits would be considerable if local companies are competitive enough to win lucrative service contracts in the oil sector.

Total and CNOOC, must honor commitments to award about 30% of the contracts to suppliers of Ugandan origin, said Robert Kasande, permanent secretary with Uganda's Ministry of Energy and Mineral Development. "We believe that this should be a catalyst" for economic growth, he said.

Museveni's oil?

Watchdog groups and others also have warned against the personalization of Uganda's oil resources and heavy borrowing by national budget authorities anticipating oil revenue.

Civil society groups led by the African Institute for Energy Governance (AFIEGO) have been urging the governments of Uganda and Tanzania and the oil companies to call off their plans.

The AFIEGO noted that some of the people affected by the pipeline have not been compensated and that the oil developments are also taking place in an ecologically sensitive conservation area.

In an interveiw with DW, Diana Nabiruma, the communications head for AFIEGO, said: "Previously Uganda has signed secret agreements, and Ugandans have lost. For instance, the president told us that electricity in Uganda is expensive because government officials conspired to sign agreements that favor bidding companies. Now we are seeing this being repeated in the oil sector."

They continue to question the fact that the oil deals are still secret despite Uganda being a member of the Extractives Industries Transparency Initiative, Nabiruma added.

But Martin Tiffen, the Managing Director of East African Crude Oil Pipeline (EACOP), said every person affected by the project will be compensated before construction commences.

"We have evaluated the land, crops on the land, and the buildings on the land. But we have not asked the people to leave, of course. We will let the people harvest their crops and continue with their daily routines," Tiffen said.

President Museveni, who has led Uganda since 1986, has sometimes suggested that the discovery of commercially viable oil quantities in 2006 created an opportunity for him to remain in power. "They are targeting my oil," he said of his challengers in the country's 2016 presidential election.

His personalization of the oil fields quickly dashed hopes in Uganda that the country could become an oil Eldorado. After that, the scramble to evict residents began and was often perpetrated by Museveni's cronies and members of his inner circle.

Environmental concerns

Plans for the pipeline have recently been attacked as "irresponsible" by activists who say it isn't compatible with the goals of the Paris climate accord. Critics also say the rights of residents are at risk and that the pipeline, which would cross rivers and farmland, will damage fragile ecosystems. The project could cost more than 12,000 families their land rights, the Paris-based International Federation for Human Rights recently charged.

But criticism of the pipeline project is likely to persist. "Despite our persistent calls for urgent action from the Ugandan government, Total, and CNOOC, the oil project is accelerating while most of our concerns and recommendations remain unaddressed," Antoine Madelin, advocacy director of the International Federation for Human Rights, told The Associated Press.

"Major environmental and human rights risks remain. The top priority should be to deal with the concerns of communities suffering from the project, not start drilling at all cost." Irene Batebe, Uganda's commissioner in charge of oil operations, downplayed fears that oil production will not benefit local communities.

"No, I wouldn't say that the oil and gas industry in any way is going to be a curse," she told DW. "We have put in place the necessary mitigation measures to ensure that the oil benefits the communities in the region. We have also tried to sensitize the communities about the opportunities that are available."

Facing calls to abandon its projects in Uganda, Total last month said it would limit oil extraction from a national park to less than 1% of the protected area. The company also said it would fund a 50% increase in the number of game rangers in Murchison Falls National Park, Uganda's largest protected area.

Total acknowledged "significant social and environmental stakes" posed by oil wells and the pipeline and pledged to proceed responsibly. Patrick Pouyanne, the Total CEO and chairman, said the Ugandan investment would exceed $10 billion. While challenges remain, there's hope "to see the first oil tanker" by early 2025, he said.

It remains unclear when Uganda will export its first drop of crude since developing storage sites, processing facilities, and other key infrastructure will take time. The agreements signed Sunday also must be codified into legislation in both Uganda and Tanzania.

Egypt Impounds Ever Given Over Suez Compensation Claim

The headline-making cargo ship has been impounded on a lake until its owners cough up at least $900 million in compensation. Egypt incurred heavy financial losses from the canal jam.

The Ever Given megaship, which blocked the Suez Canal for almost a week, is being held until its owners pay for the damages, canal authorities said on Tuesday.

The Empire State Building-sized cargo ship has not been given clearance to leave the lake off of the canal where it was moved to.

"The Ever Given was seized due to its failure to pay $900 million (€754 million)" in compensation, Suez Canal Authority (SCA) chief Osama Rabie told the state-run newspaper Al-Ahram.

The sum was calculated based on "the losses incurred by the grounded vessel as well as the flotation and maintenance costs, according to a court ruling handed down by the Ismailia Economic Court," Rabie said.

Why does Egypt want compensation?

The Suez Canal is a vital moneymaker for Egypt, bringing in slightly over $5.7 billion in the 2019-20 fiscal year.

The canal authority reported that revenue lost during the time that the Ever Given was stuck amounted to $12-$15 million a day.

Egyptian canal personnel and international salvage teams worked for six days to pull the vessel from the bank of the waterway.

An unnamed official from the SCA told the AFP news agency that negotiations on damages were being held between the vessel's Japanese owner, insurance firms and the canal authority itself.

According to the court filing, the Ever Given will be held until the full compensation amount is paid, in accordance with Egyptian Maritime law.

Backlog worth billions

The Japanese-owned, Taiwanese-operated and Panama-flagged vessel ran aground on March 23, blocking the vital Suez route for trade between Europe and Asia.

The maritime data company Lloyd's List estimated that $9.6 billion worth of cargo was held up each day while teams rushed to dig the megaship out of the sandbank.

It took several days for the backlog of some 400 cargo ships, including oil tankers, to pass through the canal after the Ever Given was dislodged.

Along with the judicial order to impound the vessel, prosecutors in Ismailia also opened up a separate investigation into how it ran aground in the first place, a judicial official told AP.-(AP, AFP)

World stocks hit record high as bond yields ease with inflation fears

Global equity markets rose to a fresh record high on Wednesday as bond yields eased after data showed U.S. inflation was not rising wildly.

Most Asia-Pacific share indexes followed Wall Street higher, with Hong Kong's Hang Seng leading gains in the region, while benchmark U.S. Treasury yields continued their decline, marking a fresh three-week low.

Japan bucked the trend, with the Nikkei (.N225) falling 0.4% as rising coronavirus cases raised doubts about an economic reopening with 100 days to go until Tokyo is scheduled to host the Olympics.

The U.S. consumer price index rose 0.6%, the biggest increase since August 2012, as rising vaccinations and fiscal stimulus unleashed pent-up demand. But the data is unlikely to change Federal Reserve Chair Jerome Powell's view that higher inflation in coming months will be transitory. 

Powell is scheduled to speak later in the day at the Economic Club of Washington.

"The market clearly braced for higher CPI readings," Westpac strategists wrote in a client note.

They said Tuesday's result was "clearly being interpreted within the context of the Fed's commitment to look through 'transitory' inflation impulses."

For bond markets, the question is whether the benchmark yield can break below 1.6% from as low as 1.611% on Wednesday, they wrote.

"That has been an important technical level, which if broken could see a quick move to 1.5%."

The 10-year U.S. Treasury yield had surged from the start of the year to a 14-month high of 1.776% on March 30 on bets that massive fiscal stimulus would speed up a U.S. recovery, stoking faster inflation than Fed policymakers anticipate.

But yields have eased this month, in part owing to the Fed's insistence that labour market slack will prevent the economy from overheating.

A spate of strong auction results, including of 30-year bonds on Tuesday, has also helped to tame yields.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) gained 0.6%. Hong Kong's Hang Seng (.HSI) rallied 1.3%, while China's blue-chip index (.CSI300) jumped 0.7%.

MSCI's gauge of equity performance in 50 countries (.MIWD00000PUS) advanced 0.15%, extending its all-time peak.

The decline in bond yields lifted U.S. tech stocks overnight, including Apple Inc (AAPL.O), Microsoft Corp (MSFT.O) and Amazon.com Inc (AMZN.O), the top three holdings of the global benchmark.

The S&P 500 (.SPX) gained 0.33% as it also set intra-day and record closing highs, while the Nasdaq Composite (.IXIC) added 1.05%. The Dow Jones Industrial Average (.DJI) fell 0.2%.

Johnson & Johnson's shares (JNJ.N) slid 1.34% after U.S. federal health agencies recommended pausing the rollout of its COVID-19 vaccine for at least a few days, after six women developed rare blood clots. Setbacks to vaccination rollouts have raised concerns about the global economic recovery.

Earnings will be a focus on Wednesday, with JPMorgan Chase & Co. (JPM.N) and Goldman Sachs Group Inc (GS.N) among the companies reporting.

The U.S. dollar eased along with Treasury yields, slipping to a three-week low to major peers.

Gold , a traditional inflation hedge, extended its rise from the lowest in more than a week to trade around $1,745 in the spot market.

Bitcoin hit a record above $63,860, extending its 2021 rally to new heights on the day Coinbase shares are due to list in the United States. read more

In oil markets, Brent crude futures rose 40 cents to $64.07 a barrel. U.S. crude futures added 37 cents to$60.55 a barrel.-The Thomson Reuters Trust Principles.

Toshiba CEO steps down, shares surge on bidding war expectations

Toshiba Corp (6502.T) CEO Nobuaki Kurumatani resigned on Wednesday amid controversy over a $20 billion buyout bid from CVC Capital Partners and the conglomerate's shares surged on reports that KKR & Co and Brookfield are also planning offers.

Satoshi Tsunakawa, who previously led the company before Kurumatani and until Wednesday was chairman, will once again assume the helm.

Kurumatani had been under fire over the bid from CVC, his former employer, as well as damaging allegations that management pressured investors before a shareholder meeting to support desired board nominations.

CVC's offer to take the scandal-hit Japanese conglomerate private and retain incumbent management was perceived as designed to shield Kurumatani and other managers from pressure from activist shareholders who have successfully pushed for an independent probe into the allegations, sources familiar with the matter have said.

The offer sparked a strong backlash from Toshiba managers and some board members, prompting them to lobby against it to the government, said one of the sources. The sources declined to be identified due to the sensitivity of the matter.

"Tsunakawa has the trust of various stakeholders," Toshiba Board Chairman Osamu Nagayama told a news conference adding that Kurumatani had told the board that he was stepping down as the company's recovery was now firmly in place.

Nagayama also said CVC's April 6 proposal was unsolicited, lacked substance and required cautious consideration.

Toshiba would consider setting up an independent committee of external directors after receiving a formal proposal from CVC, he added.

Shares in Toshiba were trading 5% higher at 4,825 yen in Wednesday afternoon trade, not too far off the 5,000 yen per share level that a source has said was proposed by CVC.

Other suitors appear to be waiting in the wings.

Private equity giant KKR & Co (KKR.N) is considering a buyout offer that would exceed CVC's, the Financial Times has reported, citing several people briefed on the plans.

Canada's Brookfield Asset Management Inc (BAMa.TO) is in the preliminarily stages of exploring an offer, Bloomberg News reported, citing a person with knowledge of the matter.

A representative for KKR Japan declined to comment. Brookfield did not immediately respond to a request to comment.- The Thomson Reuters Trust Principles.

Invest Wisely!

Bulls n Bears 

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:         <http://www.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:            <https://bullszimbabwe.com/category/blogs/bullish-thoughts/> www.bullszimbabwe.com/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:      <http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA> www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 

INVESTORS DIARY 2021

Company

Event

Venue

Date & Time

Independence Day

18/04/21

Public Holiday in lieu of Independence Day falling on a Sunday

19/04/21

Workers Day

01/05/21

FCB

AGM 

virtual

06/05/21 : 3pm

Africa Day

25/05/21

Companies under Cautionary

ART

PPC

Dairibord

Starafrica

Fidelity

Turnall

Medtech

Zimre

Nampak Zimbabwe

 <mailto:info at bulls.co.zw> 

DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of Faith Capital (Pvt) Ltd for general information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities. The information contained in this report has been compiled from sources believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other  Indices quoted herein are for guideline purposes only and sourced from third parties.

(c) 2021 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:  <mailto:info at bulls.co.zw> info at bulls.co.zw Tel: +263 4 2927658 Cell: +263 77 344 1674

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210414/bb2b40c0/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210414/bb2b40c0/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 31039 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210414/bb2b40c0/attachment-0002.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 22328 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210414/bb2b40c0/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210414/bb2b40c0/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65559 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210414/bb2b40c0/attachment-0001.obj>