Major International Business Headlines Brief::: 19 April 2021

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Major International Business Headlines Brief::: 19 April 2021

 


 

 


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ü  Australia opens travel bubble with New Zealand

ü  Low-deposit mortgage scheme is launched

ü  Job centre workers 'feel unsafe returning to work'

ü  Facebook: Our staff can carry on working from home after Covid

ü  Leon: Billionaire Issa brothers buy fast food chain

ü  Coinbase Chief Executive Armstrong sold $291.8 million in shares on
opening day

ü  Clubhouse closes new round of funding that would value app at $4 billion
-source

ü  Asian shares near 1-1/2 week highs, Bitcoin recoups losses

ü  ESR, GIC to buy Australian logistics property portfolio from Blackstone
for $2.9 bln

ü  Oil drops as surging COVID-19 infections stoke demand concerns

ü  Dollar pinned near one-month low amid subdued U.S. yields

ü  Oaktree offers Australia's Crown $2.3 bln buyback to remove founder
Packer

ü  China NDRC approves 16 fixed-asset investment projects worth $6.96 bln in
Q1

ü  AUTOSHOW Chip shortage casts shadow on China's auto industry recovery

ü  Bitcoin slumps 14% as pullback from record gathers pace

ü  Taiwan says it has never sought to use exchange rate for trade advantage

ü  Nigeria: Arik Air Resumes Direct Flights From Lagos to Kano

ü  Nigeria: Group Blames Twitter Preference for Ghana On Nigeria's Poor
Governance

ü  Uganda Will Fully Reopen When 4.4 Million People Get Covid-19 Jabs -
Museveni

ü  Kenyans Urged to Embrace Local Tourism to Revive the Economy

ü  Ghana: New Mobile Money Rule Could Derail Financial Inclusion. but There
Are Answers

 

 

 

 

 

 

 

 


 <https://www.facebook.com/Hyundaizimbabwe/> 

 


 

Australia opens travel bubble with New Zealand

Tearful reunions filled Auckland airport on Monday as residents from
Australia were able to travel freely to New Zealand for the first time in
more than a year.

 

The long-awaited Australia-New Zealand travel bubble means visitors no
longer need to quarantine on arrival.

 

Thousands of passengers were booked to fly between the two nations on
Monday.

 

Both countries have contained Covid outbreaks and kept infection rates low,
largely due to tight restrictions.

 

Excited passengers crowded airports in Australia for flights to various
parts of New Zealand on Monday, with some rising before dawn to get ready to
board.

 

"I didn't realise how emotional I was going to be today," passenger Dawn
Tratt told the BBC at Sydney airport.

 

 

While many buzzed with the anticipation of seeing loved ones, for others it
was a more sombre occasion.

 

"My older brother passed away last week on Thursday, we couldn't get there
last week, but it's given us an opportunity to go back home today without
quarantine so it's good, very good to go and lay him to rest," said John
Palalagi in Sydney.

 

Australia and New Zealand shut their borders in March last year and brought
in compulsory quarantine for returning nationals.

 

Since October, New Zealand travellers have been allowed to enter most
Australian states without quarantine, though this had not been reciprocated
amid concerns about sporadic Covid outbreaks.

 

To fly under the bubble's rules, passengers must have spent 14 days before
departure in either Australia or New Zealand. They must not be waiting the
results of a Covid test, nor have any Covid symptoms, amongst other rules.

 

'Couldn't sleep with excitement'

The international departure terminal at Sydney airport was very busy, very
early in the day. The queue in front of the check-in desk was long and
spiralling. Many parents tried to entertain exhausted toddlers who had to
wake up exceptionally early to catch the first flight from Sydney to
Auckland on Day 1 of the trans-Tasman bubble.

 

Some passengers told me they camped outside from 02:00 local time (Sunday
17:00 GMT) before the airport had even opened. Others said they were so
excited they couldn't sleep. The first Jetstar flight was absolutely full.

 

It's a big day for airlines after a catastrophic year because of Covid, and
a big sigh of relief for both the travel and tourism industries. But really,
this moment is about friends and family reuniting with their loved ones for
the first time in more than a year.

 

Dawn Tratt's voice broke a little as she spoke to me ahead of take-off in
Sydney. Her cousin is unwell and while this is a hard time for her family,
she's glad she'll be able to be there for her.

 

"We're so privileged here in Australia and in New Zealand to be able to
travel like that. It's weird being on a plane again," she smiled through her
tears.

 

Economic boost

The bubble is expected to deliver a lift to both economies, Australia's
Prime Minister Scott Morrison and New Zealand's Prime Minister Jacinda
Ardern said in a joint statement.

 

"It is truly exciting to start quarantine-free travel with Australia. Be it
returning family, friends or holiday-makers, New Zealand says welcome and
enjoy yourself," Ms Ardern said.

 

The country relies on Australia for 40% of its international tourism,
injecting about NZ$2.7bn (£1.4bn, $1.9bn) into the economy.

 

In the other direction, New Zealanders accounted for 1.3 million arrivals to
Australia in 2019, contributing A$2.6bn (£1.46bn; $2bn) to the Australian
economy.

 

Qantas, Jetstar and Air New Zealand will all fly routes between the two
countries.

 

Still, the leaders warned the trans-Tasman travel bubble will be under
"constant review" given the risks of quarantine-free travel.

 

Passengers at Sydney airport

The two countries have also previously raised the idea of separate travel
bubbles with low-risk places like Singapore, Taiwan and several Pacific
island nations.

 

Both nations have won praise for their handling of the Covid pandemic.
Strict border controls and snap lockdowns are among the measures that have
kept infection rates low. Australia has recorded 910 deaths, and New Zealand
26 deaths.

 

Despite its success in containing outbreaks, the Australian government is
facing growing criticism over delays in its Covid vaccination rollout. The
country has fallen far behind other nations and failed to meet its
immunisation targets. The delays are likely to slow any further easing of
border restrictions.--BBC

 

 

 

 

Low-deposit mortgage scheme is launched

High Street lenders are now starting to offer mortgages to borrowers
offering a deposit of just 5% under a new government guarantee scheme.

 

The policy, announced in the Budget, is designed to help more first-time
buyers secure a home.

 

But the launch comes as average house prices in the UK continue to rise to
record levels.

 

Analysts also suggest that cheaper deals are available for those able to
stretch to a 10% deposit.

 

New deals

The scheme is similar to policies previously used to boost the housing
market and the economy, as well as offering support to those buying a home
for the first time.

 

The new scheme will be available to anyone buying a home costing up to
£600,000, unless they are buy-to-let or second homes.

 

The government is offering a partial guarantee, generally of 15%, to
compensate lenders if the borrower defaults on repayments.

 

Ten ways the Budget will affect you

Home movers 'have a spring in their step'

The guarantee is designed to give lenders the confidence to offer 95%
loan-to-value mortgages - many of which were withdrawn during the Covid
crisis.

 

Lloyds, Santander, Barclays, HSBC and NatWest are starting to offer products
this week and Virgin Money will do so next month. 

 

However, some lenders such as Halifax, which is part of Lloyds Banking
Group, and Barclays have said that these products will not be available for
new-build properties.

 

Houses

Chancellor Rishi Sunak said: "Every new homeowner and mover supports jobs
right across the housing sector, but saving for a big enough deposit can be
hard, especially for first-time buyers.  

 

"By giving lenders the option of a government guarantee on 95% mortgages,
many more products will become available, boosting the sector, creating new
jobs and helping people achieve their dream of owning their own home."

 

However, lenders will still carry out affordability checks. Anyone who has
lost a job, or whose income has been sporadic owing to the pandemic's effect
on employment may find it difficult to secure a mortgage.

 

House prices have been rising - partly owing to government stimulus, and
there are concerns too about the potential for some to fall into negative
equity if this is followed by sharp falls in property values.

 

House prices

Some of the new mortgage rates are close to 4% for a two-year fixed rate
deal. Analysts say that this could be cut significantly, by as much as 0.75
of a percentage point, for borrowers able to stretch to a 10% deposit.

 

"With more lenders poised to launch deals for this sector of the market,
[borrowers] level of choice should hopefully increase even further," said
Eleanor Williams, from financial information service Moneyfacts.

 

"Increased competition within the higher loan-to-value tiers will hopefully
translate to more competitive rates for these borrowers."--BBC

 

 

 

Job centre workers 'feel unsafe returning to work'

Many job centre workers currently do not feel safe about returning to the
office due to continued concerns about the coronavirus, a union has claimed.

 

The Public and Commercial Services (PCS) union surveyed 1,299 members and
found that three in five workers feel unsafe about going back.

 

It says "a majority" of in-person interviews to discuss benefits claims
should be done remotely over the phone.

 

The issue could result in industrial action, the union has warned.

 

PCS found that only 21% of staff surveyed could say for certain that they
"felt safe" dealing with face-to-face claimant appointments in job centres
across the UK.

 

The union says the vast bulk of the in-person interviews for Universal
Credit and other benefits should be done remotely.

 

>From 12 April onwards, the numbers of in-person interviews at job centres,
particularly in the 18-24 age group, will be increasing.

 

The BBC understands there are concerns that the government wants more people
to visit job centres in person so they can be assessed for "conditionality".

 

The implication is that some people could see their benefits taken away from
them, if they fail to meet certain behavioural conditions.

 

Potential industrial action

"These results reflect the anger and frustration our members feel every
day," said PCS general secretary Mark Serwotka.

 

"Thousands of Department for Work & Pensions (DWP) staff have been providing
support to claimants safely from home throughout the pandemic - the only
logical reason they would insist on fully reopening is because management's
obsession with sanctioning vulnerable claimants."

 

He added that the statistics collected by the union "should send a strong
signal to ministers" that they needed to meet with staff soon "to avoid
potential industrial action".

 

A DWP spokesman said: "Throughout this pandemic, jobcentres have remained
open to ensure we can continue to provide vital support to the most
vulnerable. Our return to full opening hours will enable us to provide even
more help and support to those who need us."

 

He added that the health and safety of colleagues was taken "extremely
seriously".

 

"[We] are absolutely committed to ensuring all our sites remain Covid secure
in line with PHE and government guidance to keep colleagues and customers
safe."--BBC

 

 

 

Facebook: Our staff can carry on working from home after Covid

Facebook says its employees can continue working from home, even as other
tech giants appear to be going off the idea.

 

The social media company told the BBC it thinks remote work is "the future".

 

People in eligible roles at Facebook can apply for permanent remote working,
subject to approval from managers.

 

Silicon Valley executives were quick to endorse the shift to remote work
last year, with some indicating it could continue even after the pandemic.

 

Last May, Facebook boss Mark Zuckerberg predicted 50% of the company's
employees could be working remotely within the next five to ten years.

 

Twitter's Jack Dorsey made headlines at the same time, when he announced his
employees "can now work from home forever".

 

But as the months have passed, some of the drawbacks have emerged.

 

At a conference in October, Microsoft chief executive Satya Nadella said the
lack of division between private life and work life meant "it sometimes
feels like you are sleeping at work".

 

Last month, Google announced it was bringing forward its timetable of moving
people back into the office.

 

People 'thrived' at home

The coronavirus crisis prompted a rapid shift away from office working to
home working.

 

Now, as firms look beyond the pandemic, many are deciding whether to bring
employees back to offices or allow them to stay at home.

 

Brynn Harrington, who is Facebook's vice president of People Growth, says
some workers have been "really thriving" at home and will be keen to
continue doing so.

 

"For example, parents who are closer to their children and are happy to cut
their commute time and optimise their work day, they're thrilled to work
from home," she said.

 

Is Big Tech going off remote working?

Goldmans backs office life with new Birmingham hub

But she admits it has not been easy for everyone.

 

"Obviously this is working from home during a pandemic, we are not in a
period of healthy remote work," she said.

 

"We have people juggling care giving responsibilities, we have people living
in small apartments with roommates, those people desperately want to get
back into offices, and we're working really hard to do that, as soon as it's
safe to open our offices."

 

Facebook plans to start reopening its Silicon Valley offices at the
beginning of May, after more than a year of working from home during the
pandemic.

 

Its largest offices won't reach 50% capacity until September at the
earliest.

 

Pay rates

The social media giant insists the shift to remote work is not about saving
costs. But it has also hinted that remote workers might receive lower pay,
depending on where they choose to live and work.

 

"We pay based on the local cost of labour in a market," Ms Harrington said.
"So there will be variability in terms of pay for remote workers, based on
where they work."

 

Facebook's approach is at odds with many other firms, which have expressed a
desire to have their workers return to the office.

 

The boss of Goldman Sachs rejected remote working as the "new normal",
labelling it an "aberration".

 

"I do think for a business like ours, which is an innovative, collaborative
apprenticeship culture, this is not ideal for us," David Solomon said in
February.

 

In February, Jes Staley, chief executive of Barclays bank, said that working
from home was "not sustainable".

 

Other big companies have plans to test so-called hybrid work arrangements,
where employees split their time between home and office.-BBC

 

 

 

Leon: Billionaire Issa brothers buy fast food chain

The billionaire Issa brothers who own Asda have bought the British fast food
chain, Leon.

 

More than 70 Leon restaurants across the UK and Europe have been sold to the
brothers' giant petrol forecourt business EG Group.

 

In a joint statement, Mohsin Issa and Zuber Issa said the firm was a
"fantastic brand we have long admired".

 

Leon boss John Vincent, who co-founded the firm in 2004, said: "In some ways
this is a sad day for me."

 

"We have tried hard, done some good things, made a healthy amount of
mistakes, and built a business that quite a few people are kind enough to
say that they love," he added.

 

The deal includes 42 company-owned restaurants, as well as 29 franchise
sites which are mainly found in airports and train stations across the UK
and a handful of European countries such as the Netherlands and Spain.

 

The group has also committed to keeping on Leon's management team and staff.

 

EG Group said that the acquisition, reportedly worth up to £100m according
to the Mail on Sunday, is "complementary" as it seeks to expand the food
side of its business.

 

How to buy a £6.8bn supermarket for £780m

Who are the Issa brothers?

'We try to make good food emotionally addictive'

It already operates more than 700 food outlets in the UK and Ireland,
including branches and "drive-thrus" for KFC, Starbucks and Greggs.

 

In a statement, EG Group said it planned to open about 20 new Leon outlets a
year from 2022.

 

It also cited the importance of Leon's cookbooks, own-brand groceries and
ready-meals sold in supermarkets.

 

John Vincent co-founded the firm - named after his father - with Henry
Dimbleby and Allegra McEvedy, when he was 33. The brand placed importance on
creating a menu of "healthy fast-food", Mr Vincent told the BBC in a 2019
interview.

 

Mr Vincent said on Sunday that he has "had the pleasure of getting to know
Mohsin and Zuber [Issa] across the last few years.

 

"They have been enthusiastic customers of Leon, going out of their way to
eat here whenever they visit London. They are decent, hard-working business
people who are committed to sustaining and further strengthening the values
and culture that we have built".

 

The Asda deal has understandably attracted the most attention, but this is
the latest example of EG Group's wider strategy in growing its non-fuel and
food service operations.

 

The Issa brothers' statement today certainly gave no indication they're
finished yet.

 

It was already apparent they were also interested in adding to their menu of
café and restaurant brands. They have shown a taste for Caffè Nero, although
the coffee chain rejected their bid in November - shortly after launching a
company voluntary agreement (CVA).

 

John Vincent has been open about how tough the past year's lockdowns have
been for the brand he started 17 years ago, and Leon's outlets are most
concentrated in London.

 

Locations such as Canary Wharf, London Bridge railway station and Heathrow
Airport seem unlikely to experience a return to pre-pandemic levels of trade
soon.

 

Under EG Group's plans, it's now set to expand into both new geographical
and - with possible drive-throughs - operational areas.

 

The Issa brothers, two entrepreneurs from Blackburn, in February completed a
deal to buy Asda, Britain's third-largest supermarket chain, from US owners
Walmart.

 

It was valued at £6.8bn, but the brothers and the investment firm TDR
Capital paid just £780m.

 

The deal is still awaiting approval from the UK's Competition and Markets
Authority, which is expected by the summer.

 

As part of it, Asda's 323 petrol stations will be sold for £750m to EG
Group, adding to the portfolio of more than 6,000 around the world.

 

In 2020, questions were raised about the group's finances after its auditor,
Deloitte, suddenly quit in October and was replaced by KPMG.

 

EG Group said the auditor had signed a "clean audit" for EG Group's 2019
financial accounts and there had been "no disagreements on any auditing or
accounting matters".-BBC

 

 

 

Coinbase Chief Executive Armstrong sold $291.8 million in shares on opening
day

Coinbase (COIN.O) Chief Executive Brian Armstrong sold about $292 million in
shares in total during the cryptocurrency exchange's first day of trading on
the Nasdaq in the past week, according to regulatory filings.

 

Armstrong sold 749,999 shares in three batches at prices ranging from $381
to $410.40 per share for total proceeds of $291.8 million, the filings made
with the U.S. Securities and Exchange Commission showed.

 

Blockchain and cryptocurrency website Coindesk reported over the weekend
that Coinbase stakeholders and investors sold about $5 billion in shares in
total during first day of trading.

 

Coinbase Global Inc went public in a high-profile debut on the Nasdaq that
briefly valued it at more than $100 billion. read more

 

Our Standards: The Thomson Reuters Trust Principles.

 

 

 

Clubhouse closes new round of funding that would value app at $4 billion
-source

Audio-chat app Clubhouse closed a new Series C round of financing, the
company said during its weekly town hall on Sunday, without disclosing the
amount raised.

 

A source familiar with the matter confirmed to Reuters that the new
financing would value the company at $4 billion.

 

The social media app said the new round of financing was led by Andrew Chen
of venture capital firm Andreessen Horowitz with major investors like DST
Global, Tiger Global and Elad Gil.

 

Clubhouse and Andreessen Horowitz did not respond to requests for how much
the funding round raised.

 

 

The San Francisco-based company, whose app allows people to discuss varied
topics in audio chatrooms, has seen its popularity surge after appearances
by billionaires Elon Musk and Mark Zuckerberg.

 

The success of the invite-only, year-old platform, which recently reported
10 million weekly active users, has demonstrated the potential of audio chat
services, particularly as people stay inside homes due to the COVID-19
pandemic.

 

Bloomberg earlier this month said Twitter Inc (TWTR.N) was in discussions to
buy audio app at a $4 billion valuation.

 

Tech website The Information first reported details on the funding on
Friday.

 

 

 

Asian shares near 1-1/2 week highs, Bitcoin recoups losses

Asian shares hovered near 1-1/2 week highs on Monday helped by expectations
monetary policy will remain accommodative the world over, while COVID-19
vaccine rollouts help ease fears of another dangerous wave of coronavirus
infections.

 

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS)
was last at 695.59, within striking distance of Friday's high of 696.48 - a
level not seen since Apr. 7.

 

The index jumped 1.2% last week and is up 5% so far this year, on track for
its third straight yearly gain.

 

"The extremely supportive monetary and fiscal policy setting continues to
provide a fertile environment for risk assets," said Rodrigo Catril, senior
forex strategist at National Australia Bank.

 

 

Australian shares (.AXJO) were 0.25% higher while New Zealand's benchmark
index (.NZ50) and South Korea's KOSPI (.KS11) added 0.4% each. Japan's
Nikkei (.N225) eased 0.4%.

 

On Friday, the S&P 500 (.SPX) gained 0.4% to close at a new record high
while clocking its sixth straight weekly gain. The Dow (.DJI) finished 0.5%,
also at a record high while the Nasdaq (.IXIC) climbed 0.1%.

 

E-mini futures for the S&P 500 were down 0.3% in early Asian trading.

 

This week is off to a quiet start with no major data releases slated on
Monday.

 

 

Investors will keep their eyes peeled for earnings from IBM (IBM.N) and
Coca-Cola (COKE.O) later in the day. Netflix (NFLX.O) reports on Tuesday
while later in the week American Airlines (AAL.O) and Southwest (LUV.N) will
be the first major post-COVID cyclicals to post results.

 

The European Central Bank (ECB) meets on Thursday with no changes to rates
or guidance expected while preliminary data on factory activity around the
globe for April is due on Friday.

 

Elsewhere, Bitcoin , the world's biggest cryptocurrency, recouped most of
its losses after plunging as much as 14% on Sunday following speculation the
U.S. Treasury may be looking at cracking down on money-laundering activity
within digital assets, NAB's Catril said.

 

Data website CoinMarketCap cited a blackout in China’s Xinjiang region,
which reportedly powers a lot of bitcoin mining, for the selloff. read more

 

 

The retreat in Bitcoin also comes after Turkey's central bank banned the use
of cryptocurrencies for purchases on Friday. read more

 

Bitcoin is up more than 90% year to date, driven by its mainstream
acceptance as an investment and a means of payment, accompanied by the rush
of retail cash into stocks, exchange-traded funds and other risky assets.

 

In currencies, the U.S. dollar loitered near a four-week low against a
basket of currencies as investors increasingly bought into the Federal
Reserve's insistence it would keep an accommodative policy stance for a
while longer.

 

The dollar index measuring the greenback against a basket of six currencies
was unchanged at 91.612, not far from its lowest since March 18 touched on
Friday.

 

Against the Japanese yen , the greenback was off a touch at 108.72. The euro
was a tad lower at $1.1966 while the British pound eased 0.07% to $1.3820.

 

The risk-sensitive Aussie dollar slipped for a second straight day to be
down 0.2% at $0.7715.

 

In commodities, oil prices were down with the Brent slipping 34 cents to
$66.43 a barrel and U.S. crude falling 29 cents to $62.84.

 

Gold was up 0.2% at $1,779.3 an ounce .

 

Our Standards: The Thomson Reuters Trust Principles.

 

 

 

 

ESR, GIC to buy Australian logistics property portfolio from Blackstone for
$2.9 bln

Logistics real estate manager ESR Cayman Limited (1821.HK) said it will join
with Singaporean sovereign wealth fund GIC to buy an Australian portfolio
from Blackstone for A$3.8 billion ($2.9 billion).

 

The deal is the largest logistics and general property portfolio transaction
in Australia to date, ESR said late on Sunday, making it the third-biggest
logistics landlord in the country with asset under management increasing to
A$7.9 billion.

 

Hong Kong-based ESR said it will contribute 20% of the equity in the
investment vehicle with GIC contributing the remainder. The deal is expected
to provide an initial yield of 4.5% with a 6.9-year weighted average lease
expiry, ESR said in a statement.

 

The portfolio encompasses 45 income-producing assets across major cities
including Adelaide, Brisbane, Melbourne, Perth and Sydney, covering a total
land area of 3.6 million square meters (38.8 million square feet).

 

ESR shares rose 1% in early trading in Hong Kong, versus a flat broader
market (.HSI).

 

($1 = 1.2975 Australian dollars)

 

Our Standards: The Thomson Reuters Trust Principles.

 

 

 

Oil drops as surging COVID-19 infections stoke demand concerns

Oil prices were lower on Monday as rising coronavirus infections in India
and other countries prompted concerns that stronger measures to contain the
pandemic will hit economic activity, along with demand for commodities such
as crude.

 

Brent crude was down 23 cents, or 0.3%, at $66.54 a barrel by 0426 GMT,
after rising 6% last week. U.S. oil was down 27 cents, or 0.2%, at $62.96 a
barrel, having gained 6.4% last week.

 

"The progress of vaccination drives in the developed markets can be seen in
road traffic levels, but resurging case numbers have reversed the recovery
in the emerging countries," such as India and Brazil, said ANZ Research in a
report on Monday.

 

India reported a record rise in coronavirus infections of 273,810 on Monday,
increasing overall cases to just over 15 million, making the country the
second-worst affected after the United States, which has reported more than
31 million infections. India's deaths from COVID-19 rose by a record 1,619
to nearly 180,000. read more

 

 

Hong Kong will suspend flights from India, Pakistan and the Philippines from
April 20 due to imported coronavirus infections, authorities said in a
statement late on Sunday. 

 

Japanese companies believe the world's third-largest economy will experience
a fourth round of coronavirus infections, with many bracing for a further
blow to business, a Reuters monthly poll showed. read more

 

Japan has had far fewer COVID-19 cases than many other major economies, but
concerns about a new wave of infections are rising fast, according to their
responses in the poll.

 

A slower rollout of vaccinations compared with other Group of Seven advanced
countries and the lack of a sense of crisis among the public will trigger a
new wave of infections, some companies wrote in the poll.

 

 

In the United States energy companies added oil and natural gas rigs for a
fifth consecutive week for the first time since February as higher oil
prices this year encouraged drillers to return to the wellpad.

 

Our Standards: The Thomson Reuters Trust Principles.

 

 

 

Dollar pinned near one-month low amid subdued U.S. yields

The dollar was pinned near a one-month low to major peers on Monday, with
Treasury yields hovering near the lowest in five weeks, after the U.S.
Federal Reserve reiterated its view that any spike in inflation was likely
to be temporary.

 

The safe-haven greenback was also held down by improved risk sentiment amid
a rally in global stocks to record highs.

 

Bitcoin nursed losses from Sunday, when it plunged by as much as 14% to
$51,541, which a report attributed to news of a power outage in China. It
last traded around $57,020.

 

The dollar index , which tracks the currency against six rivals, was at
91.684, not far from the low of 91.484 marked last week, a level not seen
since March 18.

 

 

The greenback bought 108.74 yen , near the lowest since March 24.

 

The euro changed hands at $1.19565 , near the highest since March 4.

 

"The fixed income market will dominate my world this week," with the risk
currently skewed to further yield declines, pressuring the dollar, Chris
Weston, head of research at Pepperstone Markets Ltd, a foreign exchange
broker based in Melbourne, wrote in a client note.

 

Wall Street's gains amid low volatility "should keep USD rallies contained
and attract further USD sellers," he wrote.

 

 

Benchmark 10-year yields could fall to as low as 1.47%, from around 1.56%
currently, according to Weston.

 

Key technical points are 91.30, the March 18 low, for the dollar index, and
$1.2000 for euro, which could trigger a run to $1.22, he said.

 

The 10-year Treasury yield sank to as low as 1.5280% last week, from a
more-than-one-year high of 1.7760% at the end of last month, reducing the
appeal of the United States as an investment.

 

The S&P 500 (.SPX) closed at a record high on Friday, extending a rally in
global stocks.

 

 

Fed Governor Christopher Waller said on CNBC on Friday that the U.S. economy
"is ready to rip" as vaccinations continue and activity picks up, but a rise
in inflation is likely to be transitory, echoing comments from other Fed
officials including Chair Jerome Powell over the past week. read more

 

Bitcoin continued its retreat from the record high of $64,895.22 reached on
April 14 with its weekend plunge.

 

Data website CoinMarketCap cited a blackout in China’s Xinjiang region,
which reportedly powers a lot of bitcoin mining, for the selloff. read more

 

Analysts at National Australia Bank cited "speculation in several online
reports" that the U.S. Treasury may crack down on money laundering within
digital currencies for the sharp move lower.

 

The bitcoin rout also followed a decision on Friday by Turkey's central bank
to ban the use of cryptocurrencies for purchases. read more

 

Despite recent weakness, the world's most popular cryptocurrency remains up
97% in 2021, after more than quadrupling last year.

 

Our Standards: The Thomson Reuters Trust Principles.

 

 

 

Oaktree offers Australia's Crown $2.3 bln buyback to remove founder Packer

Oaktree Capital Group (OAK_pa.N) proposed bankrolling a A$3 billion ($2.3
billion) buyback by Australian casino company Crown Resorts Ltd (CWN.AX) of
its founder's stake, potentially spoiling a full buyout by Blackstone Group
Inc (BX.N).

 

Crown said on Monday it would consider the offer from U.S. turnaround
specialist Oaktree to use a "structured instrument" to buy out James
Packer's 37% stake.

 

The proposal offers an alternative path to an A$8 billion full buyout offer
from U.S. private equity firm Blackstone, which would also see Packer pocket
about A$3 billion.

 

Packer has borne the brunt of criticism about the company's operations that
led regulators to deem it unfit for a gambling licence for its flagship new
Sydney casino and also threatens gaming licences it holds in two other
cities.

 

 

With regulators citing Packer's influence over Crown as partly responsible
for alleged activities including money laundering, the company's largest
shareholder has indicated he is willing to offload his stake. read more

 

Crown has said it was considering Blackstone's March 22 proposal, but many
investors have declined to endorse the approach, saying it undervalues the
company. They argue Crown had a higher market capitalisation in early 2020
before the coronavirus pandemic and regulatory attention hammered its
shares.

 

The Oaktree proposal, in contrast, would allow Crown to remove Packer
without agreeing to a takeover at a price below investor hopes. Packer is
not on the Crown board but he alone can decide the company's response to
Blackstone approach since it requires 75% shareholder approval.

 

Crown shares were up 1% at A$12.06 in Monday morning trading, in line with
the broader market, but ahead of Blackstone's proposed purchase price of
A$11.85 per share.

 

 

"Oaktree might be positioning itself to do something creative with Crown,"
said Nathan Bell, portfolio manager of Intelligent Investor, which has Crown
shares.

 

Blackstone had a history of buying similar companies and spinning off their
property assets, and there was "no reason Crown couldn't copy the strategy
and do it themselves" with Oaktree's help, Bell added.

 

Oaktree and a spokeman for Packer declined to comment on Monday, while
Blackstone was not immediately available for comment.

 

 

($1 = 1.2962 Australian dollars)

 

Our Standards: The Thomson Reuters Trust Principles.

 

 

 

China NDRC approves 16 fixed-asset investment projects worth $6.96 bln in Q1

China's state planner said on Monday that it approved 16 fixed-asset
investment projects worth a total of 45.4 billion yuan ($6.96 billion) in
the first quarter of this year.

 

The projects are mainly in the transportation, high technology and energy
sectors, Meng Wei, a spokesperson for the National Development and Reform
Commission (NDRC), told reporters at a regular briefing.

 

The NDRC also said that China's power consumption surged 21.2% in the first
quarter from a year earlier.

 

 

($1 = 6.5252 Chinese yuan renminbi)

 

 

 

AUTOSHOW Chip shortage casts shadow on China's auto industry recovery

Auto industry executives are rattled by a global shortage of semiconductors
which is hitting production in China, after hoping the world's biggest car
market could spearhead global recovery in the sector.

 

Automakers around the world have had to adjust assembly lines due to the
shortages, caused by manufacturing delays that some semiconductor makers
blame on a faster-than expected recovery from the coronavirus pandemic.

 

Volkswagen AG (VOWG_p.DE), China's biggest foreign automaker which wants to
sell over four million vehicles in the country, said the impact of the
shortage remains unabated in the second quarter this year.

 

Stephan Woellenstein, Volkswagen's China chief, told reporters on Sunday it
was hard to gauge how much production Volkswagen might lose week to week or
even month to month because of the chip shortage.

 

 

"It's really like fire-fighting... In some cases, we have switched to
another chip so we changed suppliers," he said, ahead of the Shanghai auto
show which opens on Monday.

 

China, where over 25 million vehicles were sold last year, become a ray of
hope for automakers, including Volkswagen and General Motors (GM.N), as the
global auto industry was hit hard by the pandemic.

 

However, China is also where news of the auto chip shortage first emerged
last year. The shortage was worsened by a fire in Renesas Electronics'
(6723.T) chip factory in Japan in March.

 

In 2019, automotive groups accounted for roughly a tenth of the $429 billion
semiconductor market, according to McKinsey, with NXP Semiconductor
(NXPI.O), Germany's Infineon (IFXGn.DE) and Renesas among key suppliers to
the sector.

 

 

Automakers, including Nissan Motor (7201.T), Ford Motor (F.N) and Nio Inc
(NIO.N) said they cut production due to the chip supply shortage.

 

Li Shaohua, senior official at China Association of Automobile
Manufacturers, said chip supply shortage hit auto production by 5% to 8% in
the first two months this year and expects the impact to ease from the third
quarter of this year.

 

As a result, China Automobile Dealers Association, said it expects car
inventory to continue to drop in China as the chip shortage hits overall
auto production. Supply of some car models might not be able to meet demand,
it said.

 

Our Standards: The Thomson Reuters Trust Principles.

 

 

 

Bitcoin slumps 14% as pullback from record gathers pace

Bitcoin, the world’s biggest cryptocurrency, fell as much as 14% to $51,541
on Sunday, reversing most of the big gains it made over the past week.

 

Bitcoin was last trading down 10% at $53,991 as of 1320 GMT, a whopping
$12,000 below record highs set on Wednesday. Smaller rival Ether , the coin
linked to the ethereum blockchain network, dropped 10% to $2,101.

 

Data website CoinMarketCap cited a blackout in China’s Xinjiang region,
which reportedly powers a lot of bitcoin mining, for the selloff.

 

Luke Sully, CEO at digital asset treasury specialist Ledgermatic, said in an
email that people "may have sold on the news of the power outage in China
and not the impact it actually had on the network".

 

"The power outage does expose a fundamental weakness; that although the
Bitcoin network is decentralized the mining of it is not," Sully added.

 

Some widely-followed blockchain analysts on Twitter pointed to a sharp drop
in "hash rate" due to the outage.

 

Hash rate refers to the volatility index that measures the processing
capacity of the entire Bitcoin network, and it determines the power required
by miners to produce new Bitcoins.

 

"Typically shocks to hash rate do not cause price drops. A hash rate
reduction slows transactions, which ironically makes it harder to move coins
to exchanges for sale. The recent price drop is well within the bounds of
typical volatility, it is noise not signal," said Edan Yago, co-founder at
Bitcoin-based decentralised finance protocol Sovryn.

 

The retreat in Bitcoin also comes after Turkey’s central bank banned the use
of cryptocurrencies for purchases on Friday.

 

Edward Moya, senior market analyst at OANDA, said cryptocurrencies had been
ripe for a pullback.

 

"The market has become overly aggressive and bullish on everything," said
Edward Moya. "It could have been any bearish headline that could have
triggered this reaction."

 

Many cryptocurrency markets operate 24/7, setting the stage for price swings
at unpredictable hours. Historically, retail and day traders have driven the
moves.

 

Despite the sudden selloff, bitcoin is still up 89% so far in 2021, driven
by its mainstream acceptance as an investment and a means of payment,
accompanied by the rush of retail cash into stocks, exchange-traded funds
and other risky assets.

 

Our Standards: The Thomson Reuters Trust Principles.

 

 

 

Taiwan says it has never sought to use exchange rate for trade advantage

Taiwan has never sought to use foreign exchange rates to gain an unfair
trade advantage, the central bank said on Sunday, after the U.S. Treasury
said Taiwan tripped thresholds for possible currency manipulation under a
2015 U.S. trade law.

 

The U.S. Treasury Department on Friday refrained from formally labelling
Taiwan, along with Switzerland and Vietnam, as manipulators, citing
insufficient evidence under a separate law. read more

 

Taiwan's tech-focused exports have soared during the COVID-19 pandemic
because of global demand for laptops, tablets and other equipment to support
the work-from-home boom, driving its trade surplus with the United States
and jacking up the value of the Taiwan dollar .

 

The China-U.S. trade war has also boosted U.S. demand for Taiwanese
technology.

 

In a statement, Taiwan's central bank said it had provided a report to the
United States ahead of the Treasury's decision suggesting they suspend the
three criteria used to judge manipulation during the pandemic.

 

"Due to the special circumstances during the U.S.-China trade dispute and
the COVID-19 pandemic, the current three U.S. inspection standards should
not be used as appropriate indicators for the U.S. to assess the economic,
trade and exchange rate policies of its trading counterparts," it said.

 

Those thresholds are a more than $20 billion bilateral trade surplus with
the United States, foreign currency intervention exceeding 2% of gross
domestic product and a global current account surplus exceeding 2% of GDP.

 

The central bank said that when communicating with the United States it had
emphasised that Taiwan's exchange rate policy "aims to maintain an orderly
foreign exchange market and financial stability, and has never intended to
gain unfair trade advantages".

 

Given the global free movement of capital, most foreign exchange
transactions have "little relevance" to the import and export situation, it
added. "The huge and frequent movement of international funds has become the
main cause of exchange rate fluctuations."

 

The central bank also noted the close and mutually beneficial bilateral
trade relationship Taipei and Washington have, and that they are "important
partners in the technology supply chain".

 

Our Standards: The Thomson Reuters Trust Principles.

 

 

 

Nigeria: Arik Air Resumes Direct Flights From Lagos to Kano

The management of Arik Air says it is resuming direct flights from the
nation's commercial capital, Lagos, to the ancient city of Kano effective
from April 27, 2021, the News Agency of Nigeria reports.

 

Chief executive officer of Arik Air, Capt. Roy Ilegbodu, in a statement in
Lagos yesterday said the three weekly flights would operate on Tuesdays,
Thursdays and Saturdays.

 

Ilegbodu said the decision to reintroduce direct flights between Lagos and
Kano was informed by the importance of both cities as centres of commerce.

 

He said that Arik Air had always been known for the promotion of economic
activities among the components states of Nigeria.

 

Ilegbodu said: "We are pleased to announce the return of services to the
ancient city of Kano. Our flights will offer our customers the advantage of
direct air travel between Lagos and Kano."-Leadership

 

 

 

Nigeria: Group Blames Twitter Preference for Ghana On Nigeria's Poor
Governance

Abuja — The Integrity Friends for Truth and Peace Initiative (TIFPI) has
blamed Twitter preference for Ghana over Nigeria in citing its African
headquarters, as a sign of the persistent leadership failure, characterised
by poor governance, which has affected Nigeria negatively in the eyes of the
international community.

 

The executive director of TIFPI, Livingstone Wechie said this in a statement
he signed and issued to reporters, stressing that Twitter's decisions was
based on practical realities.

 

He said "our organisation views the position of Twitter owner Jack Dorsey as
pointed and factual. This is to the effect that the choice of Ghana as
Twitter headquarters in Africa speaks negative volumes on the perception of
the global community on Nigeria in terms of consular and diplomatic
relations, including international politics.

 

"It is a caution to the Nigerian state to either address its internal
political, structural and constitutional disputations and faultlines which
have severally and adversely damaged its potential development in all
ramifications."

Twitter in its statement issued by Kayvon Beykpour and Uche Adegbite,
Twitter's Product Lead, and director, Product Management, Global Markets,
respectively, in reaction to its choice of Ghana, christened Ghana as the
champion of democracy. It said its decision was informed by Ghana's "support
for free speech and online freedoms."

 

Wechie said that without any controversy, Nigeria falls short of these
democratic virtues in the face of bad governance and the agitation for
restructuring which has now degenerated into the wide push for
disintegration or breakup of the biggest black state which styles itself as
the giant of Africa, which claim has come under scrutiny.

 

"Yet government continues to play rhetoric and threaten those who speak up
on these issues unnecessarily. The issues in the lower Niger, South East
states, North East, Middle Belt and South West are facts that stare us in
the face and demand urgent attention.

 

"The counsel to Nigeria today is to avoid the temptation of justification or
defence against this twitter rebuke, but look inward in conscience and in
truth to address its problems. The growing cases of institutional
corruption, witch hunt of alternative voices and attack and death of the
human rights space should serve as a clarion call for either a new Nigeria
or a Nigeria that will become history.

 

"Global rating and index as contained in international reports are worthy of
reference here. The biggest consequences will be the loss of Nigeria's place
in global investment and economic growth resulting from consular and
diplomatic blacklist if we do not hurry to do the needful. Environment is
key if economy must thrive," he said.-Leadership.

 

 

 

Uganda Will Fully Reopen When 4.4 Million People Get Covid-19 Jabs -
Museveni

President Museveni has said the government will open up the remaining closed
economies after vaccinating at least 80 per cent of the vulnerable groups.

 

He said his scientists have confirmed new coronavirus variants from South
Africa, United Kingdom, and Nigeria, which, they say are more dangerous than
the first reported virus in the country.

 

He said some of the Covid-19 preventive measures like closure of bars and
curfew, which government introduced at the onset of the pandemic, will
remain in force.

 

Mr Museveni said the samples Ministry of Health collected between end of
February and March 10 have shown presence of severe newer variants known as
B1525, B351 and A231, which are more transmissible and don't present initial
signs of cough and loss of smell as in the first variant.

"That means Uganda is becoming a centre of all these different clans of
viruses. Health ministry says they don't know how this variant behaves in
humans...the variants present no warning signs of cough and loss of smell
with rapid progression to respiratory failure," President Museveni said in a
televised address from Kyankwanzi on Friday night.

 

He added: "Bars, discos... shall remain closed until the country attains a
threshold of vaccination of over 80 per cent of the 3.5 million elderly. We
want two million people below 50 years but with underlying conditions like
blood pressure, diabetes and asthma to be vaccinated before we can say we
are safe. While there is no timeline to this, government is working hard to
bring another five million doses of Astrazeneca vaccine before end of May."

Mr Museveni said only 200, 000 people have been vaccinated out of an
estimated 5.5 million that are to benefit in the first phase.

 

Mr Museveni pointed out that out of 41, 204 reported Covid-19 infections in
the country, 40,779 have recovered with 24 cases currently hospitalised.

 

He said only 10 per cent of the beds they prepared for the pandemic have so
far been used.

 

The President added that Uganda's scientists have already made good progress
on therapeutics to treat Covid-19 with trials on more than a dozen patients
reported successful.

 

However, for this success to be internationally recognised, he said they
require to have healed at least 125 people.

 

But the trials, Mr Museveni added, are being limited because of fewer
Covid-19 cases in the country.

 

On locally made vaccine, Mr Museveni said there was good progress with
trails on animals expected to be done in June before it can be tested on
human beings in August.

 

He said producing locally made vaccines is important for the country's
strategic security.

 

Although the President said the National Resistance Movement party's current
meeting at Kyankwanzi with newly-elected Members of Parliament involved more
than 300 people, which is more than the 200 maximum prescribed by the
Ministry of Health, they had observed Covid-19 guidelines through testing
and quarantine before they could gather.-Monitor.

 

 

 

Kenyans Urged to Embrace Local Tourism to Revive the Economy

Kenyans have been urged to embrace local tourism to help revive the economy,
particularly during the COVID-19 pandemic.

 

Speaking in Machakos County during the launch of the Tembea Tujenge Kenya
quarter three campaign, the initiative's Ambassador Maina Kageni urged
Kenyans especially locals within Nairobi, Machakos, Kiambu and Kajiado who
are still under lockdown to tour tourism attraction sites within the four
counties even as the government continues to enforce the strict COVID-19
protocols.

 

Maina, who paid a courtesy call to Machakos Governor Alfred Mutua, however,
called on Kenyans to observe the Ministry of Health coronavirus measures in
order to curtail the spread of the deadly virus.

"Let's embrace domestic tourism even as we continue to fight the COVID-19
pandemic. This is the only way we can revitalize our economy," said Maina
during the initiative sponsored by Tourism Fund, Safaricom, Isuzu East
Africa, Vivo Energy and Bee Tee Concepts.

 

On his part Machakos Governor Alfred Mutua said his County Government had
set the stage for the development of domestic tourism in the county.

 

"In Machakos County, we lead while others follow. We have established modern
places that supports domestic tourism. Our County was also the first one to
cushion residents and visitors from economic effects of the COVID-19
pandemic," said Mutua.

 

The Tourism Industry in Kenya which involves Hotels, restaurants and travel
agents as is the case in the global economy has been thrown into crisis by
restrictions, putting thousands of businesses and jobs at risk after
establishments were ordered closed.

 

Maina said, Tembea Tujenge Kenya's mission is to inspire new strategies for
positioning the sector for long-term sustainable growth.

 

"Domestic tourism provides an immense opportunity for contribution to
national priorities such as economic growth, job creation and poverty
alleviation," added Maina.

 

The efforts of Tembea Tujenge Kenya together with the sponsors is aimed at
stimulating and accelerating growth in domestic tourism.-Capital FM.

 

 

 

Ghana: New Mobile Money Rule Could Derail Financial Inclusion. but There Are
Answers

Mobile money -- a technology that enables financial transactions through
mobile phones without a bank account -- is driving financial inclusion,
especially in developing countries. It gives more people a chance to use
financial products and services.

 

In Ghana, there is a policy to encourage the use of mobile money and reduce
the flow of cash. And mobile money has proved popular because of its
advantages. People can transfer money or make payments wherever they are, in
a simple, fast, convenient and affordable way. Mobile money has improved the
efficiency of transactions and initiated some changes in traditional banking
in the country. By 2017, Ghana had over 11 million active mobile money
accounts.

But in recent times, incidents of mobile money fraud have increased.
Statistics from the cybercrime unit of the Ghana Police Service showed over
300 reported cases in 2019.

 

As a result, MTN, the biggest mobile money operator in Ghana, has introduced
a new policy . It requires proof of identity (ID) before a customer can
withdraw cash. Valid forms of proof are a driver's licence, voter's ID,
passport, Social Security and National Insurance Trust ID, National Health
Insurance card or Ghana card (national ID). All mobile money agents will
have to select the ID type and enter the ID card number presented by the
customer before completing the transaction.

 

There are two problems with this: it excludes people from financial services
and it encourages the use of cash. There are better ways to address fraud.

 

The ID problem

According to Ghana's National Identification Authority, only about 15.5
million out of the population of 30 million have been registered with formal
ID. The new policy potentially excludes these individuals from using mobile
money.

 

Research shows that people without formal ID tend to be the poor, living in
remote villages, where mobile money is their only access to financial
services. They rely on mobile money agents for remittances.

 

In Ghana, mobile money is becoming the favourite channel for financial
transactions and this new policy means that people need to carry IDs every
time. It is difficult to obtain and replace IDs in Ghana because of
bureaucratic processes. So this policy could create inconvenience, which
could discourage customers from using mobile money.

 

I've done research on what influences behaviour related to financial
technologies. One of my findings is that people are more open to using
mobile money when they expect the effort of doing so to be small. On this
basis, I believe they will not use mobile money if there are hindrances like
constantly providing ID. Faced with this effort, they may revert to the use
of cash -- thereby derailing Ghana's financial inclusion progress. This new
rule about presenting an ID has good intentions but might produce unwanted
effects.

The new policy also encourages the conversion of mobile money to cash, which
works against the government's agenda of discouraging cash. The government
encourages electronic payment to widen the tax net and to fight corruption
and robbery. Mobile money policies should support this agenda instead of
undermining it.

 

Alternative solutions

 

Providing ID before withdrawals will not solve mobile money fraud.
Fraudsters can easily use fake IDs for transactions because of the limited
integration of all national databases. Also, IDs in Ghana are not properly
linked to residential addresses, so it will be difficult to trace
perpetrators even when mobile money fraud is detected.

 

Rather, focus should be on the use of emerging technologies like artificial
intelligence and machine learning to develop algorithms that can
automatically detect, flag, and temporarily block potential fraudulent
transactions for further investigation.

 

Similarly, there's the option of two-factor authentication. This allows
people to use authentication apps or text messages to validate transactions
before they are authorised. It gives people another level of security in
addition to personal identification numbers to fight fraud.

 

Another solution available to fight fraud is to eliminate fees for
inter-mobile money transfers. This will encourage e-funds to remain in
circulation, which makes it easier to trace fraudulent funds and uncover
fraud networks. Fraudulent funds that are not withdrawn can be easily
traced.

 

Ghana also has a universal QR code payment technology to encourage cashless
transactions. MTN needs to work with the Ghana Interbank Payment and
Settlement Systems, merchants, petty traders, drivers and others to roll out
the technology throughout the country. This would enable more people to use
mobile money to pay for daily activities.

 

Lastly, more could be done to improve people's awareness of how mobile money
fraud works and can be prevented. And perpetrators should be prosecuted.

 

Using this policy of "no ID, no cashout" will only derail the financial
inclusion gains and Ghana's cashless agenda. Mobile money operators should
use advanced technologies to proactively foil fraudulent transactions
instead of relying on manual interventions.

 

PK Senyo, Senior Lecturer in Information Systems, University of
Southampton-The Conversation Africa under a Creative Commons license

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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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
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