Major International Business Headlines Brief::: 27 April 2021

Tue Apr 27 08:57:51 CAT 2021

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Major International Business Headlines Brief::: 27 April 2021

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

ü  HSBC rebounds with 79% surge in quarterly profit

ü  Tesla: Bitcoin sales and environmental credits boost profits

ü  Gupta running out of time to save 5,000 steel jobs

ü  Book sales surge in 2020 as UK rediscovers love of reading

ü  Singapore and Hong Kong to open travel bubble

ü  Nigeria: Fresh Electricity Tariff Hike Looms in Nigeria As NERC Concludes
'Extraordinary Review'

ü  Ethiopia: Safaricom Bids for Ethiopia Telecom Licence

ü  Nigeria: Investment in Bitcoin, High Risk Prone to Fraud - EFCC Warns

ü  Kenya: Water Crisis in Bungoma, Webuye Following Power Disconnection Over
Sh14m Bill

ü  Rwanda: Crystal Telecom Share Price Soars Ahead of MTN Rwanda Listing

ü  South Africa: How Drones Are Used in SA's Health Services

ü  Tunisia: Tunisair Express Resumes Flights to and From Djerba

ü  Asian shares wobble ahead of Fed outcome and earnings

ü  HSBC profit rises 79% as vaccine rollout sparks improved outlook

ü  Toyota’s acquisition of Lyft’s self-driving unit bolsters its automation
ambitions

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HSBC rebounds with 79% surge in quarterly profit

HSBC has reported an increase of 79% in first quarter profits compared to
the same quarter in 2020.

Europe's biggest bank by assets reported profit before tax of $5.78bn, up
from $3.21bn a year ago.

The bank also tipped improved conditions ahead, with growth in customer
lending in 2021.

It's a major turnaround for Europe's biggest lender, which posted a 34% drop
in profits for 2020, partly due to the impact from Covid-19.

"Global Banking and Markets had a good quarter, and we saw solid business
growth in strategic areas, including Asia Wealth and trade finance, and
mortgages in Hong Kong and the UK.

"We also strengthened our lending pipelines in our retail and wholesale
businesses," said Noel Quinn, the Group chief executive said in the earnings
release.

The bulk of the bank's before-tax profits came from Asia, where HSBC made
$3.8bn.

The bank said it was profitable in all regions, with its UK business
reporting pre-tax profits of $1bn.

HSBC also released $400m of provisions for bad debts amid the pandemic,
compared with a $3bn charge last year.

Although the bank expects better economic conditions in 2021, it predicted
continued uncertainty as countries emerge from the pandemic at different
speeds and as governments pare back support measures.

And while its profits were stronger, its revenues were down 5% to $13bn due
to the impact of interest rate reductions in all global businesses.

But lower rates may have contributed to an increase in lending over the
quarter, particularly for mortgages in the UK and Hong Kong.

The bank expects lending to continue to grow in 2021, although that growth
depends on the global recovery from the pandemic.--BBC

Tesla: Bitcoin sales and environmental credits boost profits

Tesla has posted first quarter profits of $438m (£315m) bolstered by sales
of Bitcoin and environmental credits.

Revenues also increased by 74% compared to the first quarter in 2020,
despite production hurdles.

However, profits were also dented by a $299m payment to the electric
carmaker's chief executive Elon Musk.

Mr Musk claimed Tesla's Model 3, its midsize sedan, was the "best-selling
luxury sedan of any kind in the world" for the quarter.

He also predicted the company's midsize sport utility Model Y would become
the best-selling car or truck of any kind in the coming years.

"We've seen a real shift in customer perception of electric vehicles, and
our demand is the best we've ever seen," Mr Musk told an investor call.

The company said the Model Y has so far received a strong reception from
consumers in China, where Tesla began manufacturing last year.

China is possibly the world's most competitive market for electric vehicles,
with hundreds of manufacturers vying for a slice of the growing market.

Bitcoin and environmental credits

However, not all of the company's revenues came from selling cars.

The company bought $1.5bn in Bitcoin during the first quarter, but trimmed
its position by 10%, which contributed $101m to its revenues.

Tesla recently made it possible for customers to purchase the cars in
Bitcoin, allowing it to accumulate more of the cryptocurrency.

"It is our intent to hold what we have long term and continue to accumulate
Bitcoin from transactions from our customers as they purchase vehicles," the
company's chief financial officer Zachary Kirkhorn told investors.

Tesla also earns credits for exceeding emissions and fuel economy standards
and then selling them to other automakers that fall short so they can avoid
penalties.

The company earned $518m from sales of those credits in the first quarter,
an increase of 46% over the same quarter in 2020.

Logistical hurdles

Like many automakers dealing with a global shortage of microchips, Tesla
encountered supply chain problems over the past three months, which Mr Musk
described as the most difficult the company has ever faced.

Nevertheless, Tesla said it delivered roughly half a million cars in 2020,
and 185,000 in the January-to-March period.

Tesla expects its deliveries to increase by 50% annually, and is ramping up
production at its existing facilities in California and Shanghai while it
builds its new factories in Berlin and Texas.

Tesla is the world's most valuable car company, with its share price pushed
higher by investors betting on strong growth in electric vehicles in the
coming years.

However, the company makes far fewer cars than companies such as Toyota and
Volkswagen, which each sold more than nine million cars last year.--BBC

Gupta running out of time to save 5,000 steel jobs

The time is fast approaching when the government's resolve to save the UK's
third largest steel maker will be tested.

Sanjeev Gupta is desperately seeking a source of operating cash to replace
the collapsed financier Greensill Capital which kept Liberty Steel owners
GFG (Gupta Family Group) Alliance afloat.

Company sources admit they are looking at selling current inventory for
short-term cash with a view to buying it back when needed - a practice it
insists is not uncommon.

Speaking to the BBC last week, Business Secretary Kwasi Kwarteng said: "We
should take him at his word and give him time to find finance."

But time is running out as "victims" of the Greensill collapse prepare their
claims to liquidate some of the assets Gupta pledged to Greensill to keep
the cash flowing.

Applications to compel the liquidation (winding up orders) of three Liberty
Steel group companies have been filed and were originally due to be heard by
a judge next week.

'Nuclear option'

Insolvency experts say winding up orders are the "nuclear option" for
creditors trying to get their money back and their very existence will
severely hamper Mr Gupta's own attempts to save the business.

Alex Jay from Stewarts Law told the BBC: "Winding up petitions are one of
the most aggressive steps in a creditors' armoury - they can lead to the end
of a company's life and carry other very draconian legal consequences. The
fact that petitions are being pursued against the Liberty businesses means
that creditors plainly think they need to move quickly and urgently to
protect their position.

"The winding up petitions add significant pressure and urgency to any rescue
measures that are being considered. Any external financers will also be
looking very closely at the winding up proceedings, in particular, what is
being alleged, and what is owed, and this may be an obstacle to securing new
finance."

Mr Gupta knows full well how damaging this is. In a letter to the business
secretary dated 20 April he refers to them as "damaging actions pursued by
some parties".

The date for the hearing of these applications was originally scheduled for
early May but the BBC understands that timeframe is expected to slip due to
new COVID-related rules designed to prevent the hasty liquidation of firms
damaged by the pandemic.

Mr Gupta is expected to say that Liberty fits that description as orders
from aerospace customers plunged as international travel collapsed.

However, people familiar with the matter say the creditors' real concern is
not falling aerospace orders but that no-one seems to be able to locate £3bn
of finance that creditors allege Greensill advanced to Gupta and remains
unpaid and unaccounted for. Mr Gupta denies any wrongdoing and maintains his
business dealings have been transparent throughout.

'Formal request'

However, the government has already turned down a request from Mr Gupta for
a taxpayer bailout of £170m citing concerns about the "opaque" nature of his
metal empire.

In his most recent letter asking for financial assistance, he bafflingly
insists his last request for financial assistance has been misunderstood
despite the previous letter asking for it to be considered a "formal
request" for government help.

In any event, if the court applications are granted, the government's hand
may be forced.

A winding up order would see the appointment of an official receiver tasked
with liquidating the company, which employs 5,000 people. At that point, the
government would have to decide whether it would instruct the receiver to
keep the company going at tax payer expense.

A similar arrangement with British Steel cost the UK taxpayer over £500m for
the five months it took to find a new buyer.

It is not impossible that Mr Gupta finds someone prepared to advance him the
money he needs to fight another day but his creditors would have to agree to
the new arrangement. If they thought there was a chance they would get a bit
more of their money back than a fire sale of assets they might agree to it,
but optimism among those to whom he owes money is not high.

Sanjeev Gupta recently told the BBC that "not a single plant will close
while I am in charge".

That is bold and potentially counterproductive.

The government has made it clear that it is not prepared to help rescue a
company still owned and run by a man who regularly flies by private jet and
owns a house in Belgravia he recently bought for £42m.

Government sources suggest that the clearest way to seeing the bits of
Gupta's empire they want to save is for the company to go bust - one way or
another. Only then can the government be confident it is rescuing what it
wants to rescue.

The one-time "saviour of steel" is now perceived by government as a barrier
to its salvation.

Sources close to the creditors of collapsed financier Greensill say that the
future of this UK steel maker needs to be saved from Sanjeev Gupta.--BBC

Book sales surge in 2020 as UK rediscovers love of reading

UK consumer book sales climbed 7% to £2.1bn last year as people
"rediscovered their love of reading" in lockdown, the industry body says.

Demand for fiction and non-fiction jumped, while audio-book sales were up
37%, the Publishers Association said.

Bestsellers included The Thursday Murder Club by Richard Osman, Girl, Woman,
Other by Bernadine Evaristo and 7 Ways by Jamie Oliver.

But educational book sales slumped as schools were shut for months.

Stephen Lotinga, chief executive of the Publishers' Association, said: "It's
clear that many people rediscovered their love of reading last year and that
publishers were able to deliver the entertaining and thought-provoking books
that so many of us needed.

"But we shouldn't ignore the fact that it's been a particularly challenging
year for education publishers and many smaller publishers.

"It's also been a hugely difficult time for many booksellers and authors
whose livelihoods have been enormously disrupted."

According to the association, total UK publishing sales - including
consumer, educational and academic titles - rose 2% in 2020 to £6.4bn.

The consumer market performed particularly well, with sales of fiction up
16% and non-fiction by 4%. Print accounted for £1.7bn of those sales (up 4%)
while for digital it was £418m, up 24%.

Other bestselling titles included The Mirror and the Light by Hilary Mantel
and Barack Obama's memoir A Promised Land, published in November, which sold
well in audio.

The UK's enormous academic publishing industry also remained in good shape,
with total income up 3% at £3.3bn. But sales of school textbooks and word
books fell by a fifth.

Mr Lotinga said: "With bookshops now able to reopen, and physical events
returning, we are optimistic that people will soon be able to enjoy books
together again.

"We need to harness this return to reading and build on the huge opportunity
this presents to everyone."--BBC

Singapore and Hong Kong to open travel bubble

Singapore and Hong Kong have agreed to start quarantine-free travel between
the two cities from 26 May.

The long delayed travel bubble was first slated to begin in November, but
was suspended after a sudden spike of Covid infections in Hong Kong.

If it goes ahead, this travel bubble will be the second major air route in
the region to open after Australia and New Zealand resumed flights last
week.

It is expected to provide a boost to the tourism sectors of both cities.

"I am happy that Hong Kong got the Covid-19 situation under control. It has
been a long few months, but the conditions are now ripe again to re-launch
the ATB (Air Travel Bubble)" , Mr Ong Ye Kung, Singapore's Minister for
Transport said in an emailed statement.

How will it work?

The ATB will begin cautiously with just one flight a day in each direction
carrying a maximum of 200 passengers for the first two weeks.

It's a more restrained approach than Australia and New Zealand, which
launched their bubble with hundreds of flights a week.

All passengers departing from Hong Kong are required to be vaccinated, and
passengers from both cities are expected to take a test within three days of
departure and again on arrival.

The bubble will be suspended for at least two weeks if the seven-day moving
average of unlinked community cases in either city increases to more than
five.

Travellers from both cities will be required to download each others
contact-tracing app prior to their departure.

"Our goal remains striking a right balance between public health and travel
convenience so that the public will feel assured while providing certainty,"
Hong Kong's Secretary for Commerce and Economic Development Edward Yau said.

Tourism downturn

The two cities are eager to kickstart their tourism sectors, which were
highly dependent on foreign tourists before the pandemic.

International arrivals to Singapore declined 81.2% in the third quarter of
2020 compared to the same quarter the previous year, according to the
Singapore Tourist Board.

For the two cities' major airlines, the pandemic has been particularly
difficult.

Unlike Australia's Qantas, which does much of its business domestically,
Singapore Airlines and Hong Kong's Cathay Pacific lack a roster of internal
routes.

Singapore Airlines lost $1.66bn (£1.19bn) in the nine months to December
2020 as its passenger base shrank 97.6%.

Hong Kong's Cathay Pacific Airways reported a record annual loss of $2.8bn
in 2020, while shedding about a quarter of its staff.

Bubble trouble

If the airlines are happy to have flights resume, their optimism might be
tempered by the challenges presented by travel bubbles so far.

The air travel bubble was postponed from its initial launch date in November
after a sudden spike in cases in Hong Kong.

The process has not been entirely smooth for Australia and New Zealand
either.

Within a day of the travel bubble opening, a cleaner at Auckland airport who
had been fully vaccinated tested positive for Covid-19 though officials said
the case was not linked to the bubble.

And New Zealand paused quarantine-free flights from Western Australia just
days after the trans-Tasman travel bubble reopened due to a traveller
testing positive for Covid in Perth.

One Australian carrier, Virgin Australia, has opted to wait until October to
join the Australia-New Zealand bubble over concerns that border restrictions
could create additional complexity for its operations.--BBC

Nigeria: Fresh Electricity Tariff Hike Looms in Nigeria As NERC Concludes
'Extraordinary Review'

The reviews would put into consideration changes in inflation, foreign
exchange, gas prices, and available generation capacity.

The Nigerian Electricity Regulatory Commission (NERC) says it is concluding
the Extraordinary Tariff Review process for the 11 Electricity Distribution
Companies (DisCos).

NERC, which is the regulator of Nigeria's power sector, made this known on
Monday in a notice to the general public and industry stakeholders posted on
its website.

The commission said the review was pursuant to the provisions of the
Electric Power Sector Reform Act (EPSRA).

According to NERC, extraordinary tariff reviews are carried out in instances
where industry parameters have changed from those used in the operating
tariffs to such an extent that a review is urgently required to maintain the
viability of the industry.

The commission said it would also commence the processes for the July 2021
Minor Review of the Multi-Year Tariff Order (MYTO-2020), which is done every
six months.

NERC said the reviews would put into consideration changes in inflation,
foreign exchange, gas prices and available generation capacity.

The commission said it would also consider Capital Expenditure (CAPEX)
required to evacuate and distribute the said available generation capacity
in accordance with EPSRA and other extant industry rules.

"Further to the above, the commission held series of public hearings and
stakeholder consultations in the first quarter of 2020 on the Extraordinary
Tariff Review Applications of the 11 DisCos to consider their respective
five-year Performance Improvement Plans (PIPs).

"However, the evaluation of the DisCos' requests for review of the CAPEX
proposed in their PIPs could not be concluded for the consideration of the
commission during the Minor Reviews undertaken in 2020.

"Specifically, Section 21 of the MYTO - 2020 Order provides for
consideration of DisCos' CAPEX application upon further scrutiny and
evaluation of the investment proposals," it said.

NERC said the notice was being issued in compliance with the provisions of
EPSRA, the Business Rules of the commission and the Regulations on
Procedures for Electricity Tariff Reviews in the Nigerian Electricity Supply
Industry.

The commission said it was aimed at soliciting for comments from the general
public and stakeholders on the proposed reviews and advised them to send
their comments to NERC's headquarters in Abuja within the next 21 days.
(NAN)-Premium Times.

Ethiopia: Safaricom Bids for Ethiopia Telecom Licence

Safaricom #ticker:SCOM has made a formal bid to get a licence to operate in
Ethiopia -- one of the world's last major closed telecoms markets, the
company announced on Monday.

In a notice to shareholders, the telco said it is submitting its proposal
through a consortium it is leading with its parent firms Vodafone and
Vodacom, British development finance agency CDC Group and Japan's Sumitomo
Corporation.

Ethiopian authorities had told the Business Daily earlier that the Horn of
Africa nation would award two telecoms licences to multinational mobile
companies next month after pushing forward the deadline in response to
requests for extension from interested bidders.

"The ECA has indicated that proposals from interested bidders must be
submitted by 26th April 2021, and the successful bidders will be announced
within thirty (30) days (subject to timings subsequently advised by the
ECA)," said Safaricom on Monday.

The Ethiopian government is expected to assess the bids within a one-month
window and announce the successful firms by May.

The request for proposal for the two new licences was launched on November
27 last year and some 12 firms including Safaricom expressed interest.

"Any interested and competent operator from any part of the world can take
part in the bid irrespective of taking part in the expression of interest
(EoI) phase that was carried out in June 2020," ECA director-general Balcha
Reba told Business Daily in February.

Ethiopia's nascent telecommunications sector is considered one of the most
lucrative in the economy as the once inward-looking country opens up to
foreign investment for the first time.

Players like Safaricom are attracted by the growth potential in the
Ethiopian market, whose 100 million population offers a penetration rate of
44 per cent.

The Safaricom consortium, if successful, will likely rely on funding from
deep-pocketed foreign investors such as the US International Development
Finance Corporation (DFC) and CDC given the size and international nature of
the Ethiopia investment.

South Africa's Vodacom and United Kingdom's Vodafone own a combined 40 per
cent stake in Safaricom.-Nation.

Nigeria: Investment in Bitcoin, High Risk Prone to Fraud - EFCC Warns

The Economic and Financial Crimes Commission has warned Nigerians to be wary
of investing in Bitcoin, as the scheme remains a high risk and prone to
fraud given its unregulated nature.

The Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, made the
position of the anti-graft agency known in a statement he released to
journalists in Abuja on Monday.

In the statement, the commission also raised the alarm over the rate at
which Nigerians splash money into investments that promise high returns with
little or no risks to the investors.

The statement noted with dismay that investment scams have continued to
thrive despite the enforcement of stringent measures and public
enlightenment interventions by the commission and other stakeholders.

"The direct implication is that hapless citizens are losing their
hard-earned money to fraudsters, compounding the nation's economic woes.
Many have lost, and are still losing, money to Ponzi schemes, forex trading
and most recently Bitcoin trading," the commission pointed out.

"Though risk-taking is considered by some as the oxygen that drives
investment decisions, the Commission wishes to warn the public against
taking unmitigated risk in desperation to earn a windfall. Investment in
Bitcoin, for instance, is a high risk activity as the terrain is largely
unregulated, and prone to fraud.

"The EFCC wishes to state that, while it will continue to investigate and
prosecute persons complicit in fraudulent investment schemes, it is
incumbent on the investing public to be circumspect in their investment
decisions. Any investment that promises returns that look too good to be
true should be considered a red flag.

"Nigerians are by this notice, warned to be wary of fraudulent schemes and
are hereby enjoined to resist the temptation of quick gain that could end in
misery. "Those who ignore this advisory do so at their own risks," EFCC
warned.-Vanguard News Nigeria

Kenya: Water Crisis in Bungoma, Webuye Following Power Disconnection Over
Sh14m Bill

Bungoma and Webuye towns have been hit by an acute water shortage after
Kenya Power Company disconnected power supply to Nzoia Water and Sewerage
Company (Nzowasco) over accrued debt running into millions of shillings.

Nzowasco Managing Director, Mathew Maruti, said their power supply was
disconnected at Matisi and Nabuyole treatment plants more than a week ago
leading to the water shortage.

Mr Maruti said the company has an outstanding balance of Sh14million that it
owes Kenya Power, having paid Sh6 million last month.

"We plan to clear the balance in installments and we hope to have it done by
Tuesday," said Maruti.

He reassured residents of the two towns that normal water supply will be
restored once the balance is cleared.

Maruti said the accrued debt resulted from delayed remittance of bills by
institutions and individuals.

"Delayed or total refusal to settle bills by our clients has paralyzed our
operations. But we have so far received payment amounting to Sh2.4 million
from the National Police Service. We hope other government institutions and
individuals will follow suit to enable us clear our bills as well," he said.

Nzowasco board Chairperson Rebecca Masibayi confirmed that indeed that they
owe Kenya Power Company Sh14 million.

She however appealed to the power company to grant them a considerable grace
period to enable them clear the bill.

Huge blow to businesses

David Wafula, a hotel owner in Webuye town, said the water shortage has
dealt a huge blow to many businesses since they are now incurring an
additional expense of procuring water from vendors whose prices are
exorbitant.

"Let Nzowasco settle their debts and restore water supply because at the end
of the month they will still bill us, yet we haven't received water for more
than a week," he said.

At the same time, the Muslim community in Bungoma has appealed to Governor
Wycliffe Wangamati to intervene and settle the matter.

They said the water shortage has subjected them to untold suffering even as
they mark the holy month of Ramadhan, a period during which they can't go
without water while breaking the fast in the evenings.-Nation.

Rwanda: Crystal Telecom Share Price Soars Ahead of MTN Rwanda Listing

Pierre-Célestin Rwabukumba: We had allowed one week for price discovery and
market feel and market forces. CTL will close on Monday, settlement for 2
days up to Wednesday.

Crystal Telecom's share price on the Rwanda Stock Exchange rose
significantly last week ahead of MTN Rwanda (MTN Rwandacell Plc)'s listing
scheduled for 4th May 2021.

The prices have jumped from Rwf95 per share which has been constant for the
last 12 months or so. As the closing bell rung on Friday 23rd April, the
prices were at Rwf200.

The jump followed details that emerged on Monday last week that
1,350,886,600 ordinary shares will be registered with the RSE at an initial
listing price of Rwf269 per ordinary share.

This means an increase of nearly three times.

The revelation enabled members of the public to gain insights into the
valuation of the company, as one of the most valuable firms in the country.

The total market capitalization of MTN Rwanda (MTN Rwandacell Plc) is Rwf
363,388,495,400, making it one of the top firms in the country.

The listing will see 20 per cent of MTN Rwanda's shareholding held by CTL
directly held by the public.

On listing, a total of 270,177,320 shares will be available for trading at
RSE representing 20 per cent of the firm.

The rest of the shares will be held by MTN REL (Mauritius) Limited,
337,721,650 shares (25 per cent) and MTN International (Mauritius) Limited
742,987,630 (55 per cent).

Considering that CTL shareholders will become direct shareholders in MTN
Rwanda and be able to trade their MTN Rwanda shares on the RSE, demand has
gone up and is likely to remain so on Monday.

MTN Rwanda registered an after-tax profit of Rwf20.2Bn in 2020 compared to
Rwf6.81B in 2019, a growth of close to 200 per cent.

Key drivers were an increase in revenue of 21 per cent year-on-year from
voice, data and financial services. 2020 profit before tax was Rwf32.61B
with revenues of Rwf 152.01Bn. The firm has assets of about Rwf288.71Bn.

MTN Rwanda is projecting profit after tax of about Rwf 23.7B in 2021.

The demand of the telco's shares could largely be propelled by the growth of
the telecommunication sector which is estimated to account for close to 2.6
per cent of the country's GDP with the sector having a subscriber base of
over 80 per cent of the population.

Monday, 26th April will be the last day for trading Crystal Telecom shares
and two days allowed for settlement.

RSE Chief Executive Pierre-Célestin Rwabukumba said that the growth in
demand and consequent price jump is resultant of the available information
that points to the firm's valuation. The current activity, he said, is as a
result of the rush before close of CTL trading on Monday.

"We had allowed one week for price discovery and market feel and market
forces. CTL will close on Monday, settlement for 2 days up to Wednesday," he
said.

According to the Rwanda Stock Exchange Market Report for Friday 23rd April,
the Crystal Telecom Counter closed at Rwf200 with the day's trading session
recording a total turnover of Rwf20,462,000 from 113,500 shares traded in 5
deals. On Crystal Telecom Counter, there were outstanding offers of 828,700
shares between Rwf200-255 and an outstanding bid of 2,600 shares at Rwf180.

With that, the value of the shares is likely to go up on Monday before the
close of trading.-New Times.

South Africa: How Drones Are Used in SA's Health Services

Unmanned Aerial Vehicles (UAVs), commonly known as drones, have been used
for more than two decades to deliver medical supplies and food aid to
disaster-hit areas - and new uses for these devices are constantly being
found.

In countries such as Rwanda and Ghana, logistics companies like Zipline have
developed and currently operate drones that deliver much-needed medical
supplies to rural hospitals. Such distribution solutions may also have a
role to play in rural parts of South Africa where roads are often poor. But
drones can potentially function as much more than just unmanned, flying
delivery vehicles.

Fighting malaria

The South African Medical Research Council (SAMRC) is currently evaluating
the use of drone technology in the fight against malaria, says Professor
Rajendra Maharaj, Director of the SAMRC's Office of Malaria Research.

"One of the main objectives is to include larval (the aquatic phase of the
mosquito life cycle) control in addition to the use of indoor residual
spraying," he says. "To control the larvae, we need to find the mosquito
breeding sites which are small bodies of water, including temporary pools of
water such as in roadside ditches and puddles of water around and under
vegetation.

"Traditionally this has been done by control staff walking through areas
where malaria cases have been identified to identify and geo-locate (using a
GPS) them for treatment with insecticides. However, this was not an
effective method since people usually walk along roads and pathways whereas
the breeding site may be a small puddle under a bush of an indentation in
the ground that has filled with water and would not be noticed by an
individual not straying from the usual paths," says Maharaj.

He says that drone technology is now being used to provide an aerial view of
the area around a house where a malaria case has been diagnosed.

"Drones can hover over an area and take photographs of breeding sites,
geo-locate the breeding sites and potentially apply the insecticide to the
water body with mosquitoes breeding in it. This helps to decrease the
mosquito populations and therefore limits malaria transmission," says
Maharaj.

He says a second project is underway to use drones to inspect traditional
houses for deficiencies in the roofs that could either serve as an entry
point for mosquitoes or in the case of flat roofs, identify mosquito
breeding sites that contribute to the available pool of mosquito vectors.
Changes in identified deficiencies can also impact malaria transmission.

Maharaj says they are running trials in the Ndumo area in the northeast of
KwaZulu-Natal "since this area is targeting malaria elimination by 2023". If
the project is successful, the SAMRC plans to introduce drones into the
malaria control programmes of KwaZulu-Natal, Limpopo, and Mpumalanga.

'Project Bloodwing'

Elsewhere, drones are being used to quickly get donated blood to people in
need.

In May 2019 the South African National Blood Service (SANBS) launched a new
drone-based blood delivery system to help deliver blood to people in remote
areas of KwaZulu-Natal and the Eastern Cape. SANBS spokesperson, Khensani
Mahlangu says they are planning to roll out the use of drones for blood
delivery to the rest of the country.

Mahlangu says the system dubbed 'Project BloodWing', is progressing well,
and they have made great progress with the testing and piloting. "At the
moment, our application is currently with the CAA (Civil Aviation Authority)
for review and thereafter, we should receive approval to start flying. SANBS
requires an approved license from the CAA to operate drones for its
BloodWing Programme," says Mahlangu.

The CAA is an entity of the Department of Transport that regulates air
transport.

Drones to the rescue

The Western Cape Government recently became the first province in South
Africa to be allowed to fly drones legally as part of its emergency medical
services. After obtaining a Remote Pilot Aircraft Systems Operators
Certificate (ROC) last year from the CAA, Western Cape EMS can now fly over
public spaces, roads, people, and national key points (with permission from
the landowner or its representatives).

"Time is critical in any emergency medical situation and utilising drones
when responding to such incidents will minimise the risk of fatalities or
the chances of injuries becoming worse," says Deanna Bessick, EMS
spokesperson in the Western Cape.

Western Cape Provincial Health spokesperson Mark van der Heever says that
drones are playing a vital role in the province during emergencies such as
search and rescue incidents. He says they will continue using drones during
incidents such as major emergencies, drownings, mountain rescues, and
driving accidents.

"The drones also assist the department with inspections and major events
such as shack and mountain fires where there are lots of patients that
require assistance," he says.

Asked about the benefits the province has seen so far, van der Heever says
there have been incidents where the in-house Drone Project (DP) team helped
with searches during rescue incidents, particularly mountain and sea
rescues.

But equally important, he says, drones help locate patients and the DP team
then direct the rescue volunteers and EMS officials to the exact location of
the patients. "The direction and guidance received by the drone team enable
the rescue team to reach the patients timeously," he says.

Flying loudhailers

In Limpopo, drones have been used to spread COVID-19-related health
information. Instead of sending health officials out to get messages to the
people, the provincial authorities used drones with loudhailers attached to
them.

Limpopo Health Department spokesperson Neil Shikwambana says the drone
system had "[born] some positive fruits" in COVID-19 messaging but said the
project was only in the Greater Tzaneen Municipality for now. He did not
provide details of the "positive fruits" or how the impact of the drone
programme was measured.

Greater Tzaneen Municipality spokesperson, Neville Ndlala says that the
awareness messages are recorded by the Greater Tzaneen mayor Maripe Mangena
in languages that locals can understand. He says the drones play a vital
role in spreading COVID-19 messaging - social distancing, staying at home,
and regular washing of hands to the residents.

Ndlala says that the drones were also used to monitor hot spots which are
identified by the police and the Tzaneen Coronavirus Emergency team. The
drones record videos of people at places such as malls. The Coronavirus
emergency team then assesses the footage for adherence to COVID-19
regulations.

According to Ndlala they used a private contractor, Ntiyiso Aviation
Services, for the project and the municipality spent R62 000 for the flying
of the three drones for five days.-spotlight.

Tunisia: Tunisair Express Resumes Flights to and From Djerba

Tunis/Tunisia — Tunisair Express, a subsidiary of Tunisair national carrier,
specialised in domestic flights, announced Sunday the resumption of its
flights to Djerba every day of the week.

The resumption follows the lifting of restrictions due to the work on the
runway of the Djerba-Zarzis airport.

The company invites passengers to consult its website
www.tunisairexpress.net or travel agencies for more information on its
flight schedules.

The project to upgrade the basic infrastructure of Djerba-Zarzis
International Airport aims to better adapt the airport to the changing
conditions of international air transport and to prepare it to receive large
aircrafts, notably in view of the existence of air links connecting it to
Russia and Eastern Europe.

This project, with an estimated cost of more than 40 million dinars,
includes the fitting out of the airport's airfield.

The airport was shut down on Mondays and Wednesdays of each week, from March
1 to April 22, 2021.

Works will continue until May 2021, without impacting the navigation flow
from April 22 onwards, the airport management said.-Tunis Afrique Presse.

Asian shares wobble ahead of Fed outcome and earnings

Asian shares fell and U.S. stock futures were steady on Tuesday as caution
ahead of a U.S. Federal Reserve meeting and a slew of corporate earnings
offset growing optimism about the global economic recovery from the COVID-19
blow.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS)
eased 0.14%. Australian stocks (.AXJO) dropped 0.51%, but shares in China
(.CSI300) were little changed. Stocks in Tokyo (.N225) edged 0.11% lower.

S&P 500 e-mini stock futures rose 0.07%.

Oil rebounded in Asian trading after major oil producers stood by their
demand forecasts, but there are still downside risks due to surging COVID-19
cases in India, the world's third-biggest oil importer.

Analysts said some investors may be taking profits on equities, but
sentiment remains positive due to rising coronavirus vaccination rates in
many countries.

"There are two reasons to remain positive on equities and commodities," said
Masayuki Kichikawa, chief macro strategist at Sumitomo Mitsui Asset
Management Co in Tokyo.

"The global economy is likely to continue to strengthen and many advanced
economies are heading for a reopening due to progress in vaccinations."

However, despite the hopeful signs, a bullish session on Wall Street failed
to inspire Asian markets. The S&P 500 (.SPX) and Nasdaq (.IXIC) closed at
record highs on Monday, fuelled by heavyweight growth stocks ahead of a
deluge of earnings reports this week. The Dow Jones Industrial Average
(.DJI) ended 0.18% lower.

In extended trade, Tesla (TSLA.O) dipped about 0.4% even after the electric
car maker beat Wall Street expectations for first-quarter revenue. read more

Sentiment for equities in many markets has improved steadily this month due
to expectations that rising vaccination rates will allow more economies to
resume normal activity.

However, one area of concern is India, which is struggling with a surge of
coronavirus infections that has overwhelmed its healthcare system. read more

Many investors stuck to the sidelines ahead of a Fed meeting ending
Wednesday, where the U.S. central bank is expected to confirm that it will
maintain with its easy monetary policy to bolster the economy.

Bond traders are also closely watching an auction of $62-billion of
seven-year U.S. Treasuries later on Tuesday.

The Treasury saw very weak demand at a seven-year debt auction in February,
which sparked a brutal market selloff across the globe. The notes also saw
tepid, albeit improved, demand in March.

Ahead of the auction results, seven-year yields edged up to 1.2689%, while
benchmark 10-year yields rose slightly to 1.5755%.

The dollar was hemmed into a narrow range as traders avoided taking out big
positions before the bond auction and Fed meeting.

The yen traded near a seven-week high against the dollar before a Bank of
Japan meeting ending later on Tuesday. No major changes are expected, but
policymakers are likely to cut their consumer price forecasts. read more

U.S. crude ticked up 0.26% to $62.07 a barrel, and Brent crude rose 0.29% to
$65.84 per barrel, but the bounce in oil could be limited due to worries
about the return of travel restriction in response to India's coronavirus
surge.

Bitcoin was little changed at $53,851. The world's most popular
cryptocurrency soared nearly 10% on Monday, after five straight days of
losses, on reports that JPMorgan Chase (JPM.N) is planning to offer a
managed Bitcoin fund.

Bitcoin had slumped almost a fifth from its all-time high hit earlier this
month.

Rival digital asset Ether was steady at $2,514.-The Thomson Reuters Trust
Principles.

HSBC profit rises 79% as vaccine rollout sparks improved outlook

HSBC Holdings PLC (HSBA.L) reported better-than-expected quarterly profit on
Tuesday and released $400 million it had set aside to cover pandemic-induced
bad loans, as succesful vaccine rollouts in key markets promised a brighter
economic outlook.

HSBC cautioned, however, that uncertainty about a global recovery meant it
was unlikely to sustain that level of reduction in the $3 billion bad debt
provision it had set aside a year ago as the pandemic took hold.

"We are still are being relatively cautious, and we've retained about 70% of
the reserve build up we did last year," Chief Financial Officer Ewen
Stevenson told Reuters.

"Some of that you would expect to unwind over the next year or so, but we
don't know we are going to see a repeat of what we just saw," Stevenson
said.

Europe's biggest bank by assets posted profit before tax of $5.78 billion
for the three months ended on March 30, up from $3.21 billion a year ago and
well above an average analyst forecast of $3.35 billion compiled by the
bank.

Hong Kong-listed shares of HSBC rose as much as 2.5% to their highest since
April 20.

HSBC, which makes the bulk of its profits in Asia, said its credit losses
for 2021 were likely to be below the medium-term range of 30-40 basis points
it forecast in February.

"We are more optimistic than we were back in February, we expect GDP to
rebound in every economy in which we operate this year," Chief Executive
Noel Quinn told Reuters, citing the successful rollout of vaccines in the
U.S. and Britain as a key factor.

Still, HSBC's improved outlook and profits paled in comparison to U.S. rival
JPMorgan (JPM.N), which earlier this month reported a 400% increase in
quarterly profit and released more than $5 billion in bad loan provisions.
read more

HSBC's fortunes are heavily tied to global interest rates. Revenue fell 5%
in the quarter from a year ago as low interest rates in its main markets
constrained the bank's ability to generate large revenues from lending.

Hibor, the benchmark lending rate in HSBC's most profitable market of Kong
Kong, was near ten-year lows for much of the quarter.

FRENCH BUSINESS SALE ONGOING

HSBC in February announced a revised strategy to focus mainly on wealth
management in Asia, aiming to earn more revenue from client fees rather than
the difference between the interest rates the bank offers savers and charges
borrowers. read more

HSBC said on Tuesday it was continuing negotiations for the sale of its
French retail banking business, but no final decision has been taken.
Reuters reported last month that HSBC had entered final negotiations to sell
the business, which has 270 branches, to private equity firm Cerberus.

HSBC is the first of Britain's big banks to announce first quarter earnings.
Lloyds Banking Group (LLOY.L) is due to report on Wednesday, Standard
Chartered (STAN.L) and NatWest Group (NWG.L) on Thursday, and Barclays
(BARC.L) on Friday.-The Thomson Reuters Trust Principles.

Toyota’s acquisition of Lyft’s self-driving unit bolsters its automation
ambitions

Toyota Motor Corp (7203.T) will acquire Lyft Inc’s (LYFT.O) self-driving
technology unit for $550 million, the companies said, as the Japanese firm
steps up its automation ambitions with the newly created Woven Planet
division.

The acquisition of Level 5 automation will also provide Toyota access to the
U.S. ride-hailing firm’s more than 300 employees of the essentially complete
autonomy technology.

"This is the first step of establishing and bringing together the people.
Obviously building technology and product requires people, and that's much
what this acquisition is about," Woven Planet chief executive James Kuffner
told reporters on Tuesday.

It will also give Toyota a direct presence in Silicon Valley and London and
expand smart-city project "Woven City" at the base of Japan's Mt. Fuji,
effectively helping it ride through dramatic changes expected in the
mobility industry and major centres, he said.

For Lyft, the deal will allow it to become profitable sooner and takes away
the burden and risk of developing a costly technology that has yet to enter
the mainstream.

Kuffner said Woven Planet, which was set up in January, intends to continue
investing and growing the team, although he refrained from commenting about
any timeline or future acquisition plans.

Takaki Nakanishi, an auto industry analyst and chief executive of the
Nakanishi Research Institute, said by expanding partnerships, Toyota is
"moving a step towards realizing its goals", including self-driving
technology.

Toyota, which currently offers Level 2 automation with advanced driver
assistance technolgy, has other self-driving projects and has been working
closely with ride hailing firms.

It owns a stake in China's top ride-hailing firm Didi Chuxing and Southeast
Asia's Grab and also had a stake in the self-driving unit of Lyft's larger
rival Uber Technology Inc (UBER.N), but transferred the stake when Uber sold
the unit in December to car startup Aurora.

Toyota said in February it would develop and build autonomous minivans for
ride-hailing networks with Aurora and longtime supplier partner Denso Corp
(6902.T).

CASH BURNING BUSINESS

Lyft’s sale allows it to offload cash-burning side businesses and focus on
reviving their core divisions following a bruising pandemic year.

It will receive $200 million cash upfront, with the remaining $350 million
paid over five years.

Lyft did not immediately say how it plans to invest the funds. But the sale
will allow Lyft to report third-quarter profit on an adjusted basis of
earnings before interest, taxes, depreciation and amortization as long as
the company continues to recover from the coronavirus pandemic, it said.

The sale will also remove $100 million in annual net operating costs, Lyft
said.

Lyft will now focus on what it can do best with autonomous vehicles by
offering services such as routing, consumer interface and managing, and
maintaining and cleaning partners' autonomous vehicle fleets, which could
mean added revenue, it said.

Lyft already allows consumers to book rides in self-driving vehicles in
select cities in partnerships with Alphabet Inc's (GOOGL.O) Waymo and
Motional, the joint venture between Hyundai Motor Co (005380.KS) and Aptiv
(APTV.N).

It will continue to collect real-world driving data through some 10,000
vehicles it rents out to consumers and ride-hail drivers. The data is
valuable for the development of self-driving vehicles that Woven Planet will
have access to under the deal.

But Lyft also believes human ride-hail drivers will remain important for the
foreseeable future to serve customers during peak demand periods, bad
weather, or in areas that self-driving cars are unable to navigate.- Thomson
Reuters Trust Principles.

Invest Wisely!

Bulls n Bears 

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INVESTORS DIARY 2021

Company

Event

Venue

Date & Time

BAT

AGM

Cresta Lodge, Msasa

30/04/21 10am

Workers Day

01/05/21

FCB

AGM 

virtual

06/05/21 : 3pm

NMB

AGM

virtual

1205/21 :  3:30pm

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:
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