Major International Business Headlines Brief::: 29 April 2021

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Major International Business Headlines Brief::: 29 April 2021

 


 

 


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ü  Apple profits double as it squares up to Facebook

ü  Samsung: Handsets push profits to pre-pandemic highs

ü  Oxford Mini production to halt due to chip shortage

ü  Sainsbury's: Cost of Covid has been high

ü  Government money seen powering U.S. economy in first quarter

ü  Planemaker Airbus maintains forecasts as core profit rises

ü  Asia shares rise on supportive Fed as Biden unveils new stimulus

ü  StanChart Q1 profit beats view on recovery from virus, shares rise

ü  Facebook benefits from pandemic ad spending but Apple could spoil its
party

ü  Ford says chip shortage to halve Q2 vehicle output, but could ease this
summer

ü  For Google, plenty of cash with nowhere to go

ü  Nigerian Firm Makes Bill Gates' Top Five Cleantech Companies

ü  Nigeria: More Trouble for Nigeria As Fuel Subsidy Wipes Off Oil Revenue

ü  Ghana: Twitter's New Office in Ghana Seen As a Snub to LGBT+ People

ü  East Africa: Tanzania Remains the Place to Be for Cheap Data, Internet
Access in EA

ü  Kenya Suspends India Flights Over Covid Surge

ü  Ethiopia's Untapped Natural Resource of Bamboo Forest

 

 

 

 

 

 

 

 


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Apple profits double as it squares up to Facebook

A surge in iPhone sales, especially in China, has led to a doubling of
profits at Apple since the start of the pandemic.

 

The results reflected "optimism" about the days ahead, Apple's boss said.

 

Rival tech firm Facebook also reported bumper revenues and profits.

 

But the social media giant warned Apple's latest software release could
undermine its prospects later in the year.

 

Apple has seen sales of its phones, apps and other devices rise throughout
the pandemic, as consumers spent more time working, shopping and seeking
entertainment online.

 

Customers continued to upgrade to Apple's new 5G phones which were rolled
out last year, and also bought Mac computers and iPads to tackle working and
studying from home, the firm said.

 

Fitness and music apps also saw a lockdown boost.

 

Sales to China nearly doubled, leading to overall revenues for the first
three months of this year of $89.6bn (£64.2bn), more than 50% up compared to
a year earlier.

 

Profit was $23.6bn, up from $11.3bn for the same period last year.

 

"This quarter reflects both the enduring ways our products have helped our
users meet this moment in their own lives, as well as the optimism consumers
seem to feel about better days ahead for all of us," said chief executive
Tim Cook.

 

Paolo Pescatore, analyst with PP Foresight, said it was "another blowout
quarter" for Apple.

 

"The iPhone remains a core product and gateway to the Apple universe," he
added, providing Apple with "a key launchpad" to sell further services.

 

Sophie Lund-Yates, Equity Analyst at Hargreaves Lansdown said customers had
proved willing to "splurge on big-ticket items thanks to a global shift to
working from home, and the fact people have found comfort in treating
themselves".

 

"The sheer scale of Apple's sales is testament to the grip that shiny
embossed piece of fruit has on global consumers," she added.

 

Facebook, which relies on sales of advertising rather than consumer
electronics, also saw bumper revenues and profits in the first three months
of the year.

 

The time spent by consumers at home, and the spending power that shifted
online, translated into revenues of $26.17bn, outpacing analysts
predictions. Profit was also higher than expected at $9.5bn.

 

Facebook said in coming months it expected revenue to be stable or grow
moderately, and admitted a new feature released this week by Apple - an
option for users to prevent apps from collecting user data - could
"significantly" hurt its business.

 

It's not just Apple and Facebook who have posted astonishing profits this
week. Google and Microsoft announced eye-watering quarterly figures
yesterday too.

 

That may not be surprising to many. Global lockdowns have made people work
and play more online. What's less clear though was whether this was a
pandemic bounce? Or have people permanently changed their behaviour? These
figures certainly suggest the latter.

 

Apple's figures across multiple sectors, across the world, are exceptional.
In places like China, which has mostly been lockdown-free in recent months,
sales were up dramatically. Facebook's figures too, show that advertisers
are feeling bullish about online spending.

 

Almost all of Facebook's revenue is from ads, so when Facebook is doing
well, that usually suggests we're buying more things on the internet.
Amazon's quarterly figures are out tomorrow, and they too are expected to
have had a bumper quarter. Big Tech's pandemic bounce is increasingly
looking like a trend.

 

line

The two companies are locked in a stand-off after Apple announced the latest
version of its iOS operating system this week.

 

A new feature will prompt device users to decide whether they are happy for
their data to be collected by apps. Many are likely to say no.

 

But user data is a large reason why Facebook's ad-based business model is so
profitable. It allows advertising to be targeted and monitored for efficacy.

 

Facebook saw a rise in monthly active users, however, which were up by 10%
at 2.85 billion.

 

On Tuesday Google's parent company Alphabet reported a record profit in the
three months to March as its advertising revenue swelled by a third.

 

The firm credited "elevated consumer activity online" for its results as
populations around the world spent more time indoors at home to avoid the
spread of coronavirus.--BBC

 

 

Samsung: Handsets push profits to pre-pandemic highs

Samsung Electronics has announced its strongest first quarter profits since
2018 on the back of strong mobile sales led by its flagship Galaxy S21 line.

 

The Korean giant's net profits rose 46.3% compared to the same quarter in
2020 to 7.1trn won ($6.4bn ; £4.6bn).

 

Sales of television and home appliances saw strong growth, buoyed by
continued stay-at-home demand.

 

However, the company's profits were dented by disappointing results for its
chips business.

 

"Solid sales of smartphones and consumer electronics outweighed lower
earnings from semiconductors and displays," the company said in an earnings
report.

 

Its main competitor for premium phones Apple also posted bumper results on
Tuesday, with iPhone sales in China helping to double the company's profits
since the start of the pandemic.

 

Both companies have done well during the pandemic, as many customers chose
to upgrade their phones, laptops and other devices to work from home.

 

Samsung is tipping a slightly lacklustre second quarter followed by stronger
results in the second half, as the economic recovery from the Covid-19
pandemic gathers pace and more consumers look to upgrade to 5G mobile
services.

 

Slower sales for chips

Despite high demand due to a global shortage, Samsung's chips business was
hit by the cost of ramping up production domestically and a storm-related
stoppage at its Texas factory in February.

 

However, the factory has resumed full production and the world's largest
chipmaker is expecting stronger results for its semiconductor business in
the second quarter.

 

The electronics giant warned that this could be offset by a decline in
flagship smartphone sales and continuing supply issues with some components.

 

Inheritance tax

The figures came a day after the family of Samsung's late chairman Lee
Kun-hee announced plans to pay more than 12trn won ($10.78bn) in inheritance
taxes on his estate.

 

The tax issue has been closely watched, as it could impact the Lee family's
stake in Samsung.

 

However, the announcement provided little clarity about whether or not the
Lee family would sell any shares to pay the tax.--BBC

 

 

 

Oxford Mini production to halt due to chip shortage

Production at Oxford's Mini plant will be suspended for three working days
due a shortage of computer chips.

 

BMW said its Cowley factory will not manufacture cars on Friday or on
Tuesday and Wednesday after the bank holiday weekend.

 

A spokeswoman said the company had taken steps to minimise further
disruption and was monitoring the situation on a daily basis.

 

Other companies are also being hit by a global shortage of computer chips.

 

Jaguar Land Rover has suspended production at its Castle Bromwich and
Halewood factories this week for the same reason.

 

The shortage has developed due to a rapid recovery in demand for chips from
the motor industry, at a time when available supplies were being snapped up
by the consumer electronics sector.

 

The plant in the city employs 4,500 people and produces about 5,000 cars a
week.

 

In September 2020, BMW postponed a decision to cut 400 out of 950 agency
staff at the factory due to "unexpected improvements" in demand.-BBC

 

 

 

Sainsbury's: Cost of Covid has been high

Sainsbury's has slumped to a £261m loss despite bumper food and Argos sales
during the coronavirus pandemic.

 

The supermarket giant said that in the year to 6 March Covid costs "to help
keep our colleagues and customers safe" had been "high".

 

However, it said it expected profits to bounce back in the coming year.

 

Rival Tesco reported a sharp fall in profits earlier this month after
spending nearly £900m to carry on trading during the pandemic.

 

Sainsbury's said it had spent £485m on Covid-related costs, including paying
colleagues that were required to shield or needed to self-isolate. It also
paid back business rates relief on its stores in line with rivals.

 

The supermarket giant also paid out restructuring costs, including to close
170 standalone Argos stores.

 

Sainsbury's £261m pre-tax loss for the year was despite like-for-like sales
rising 8.1%.

 

Online surge

Argos did especially well, with total sales rising almost 11% as digital
sales boomed.

 

However, Argos standalone stores, rather than those inside the supermarkets,
were closed for much of the year during lockdowns.

 

Sainsbury's online sales rose as coronavirus restrictions accelerated
internet shopping. Online jumped from 8% of grocery sales to 17% during the
year.

 

The retailer has already embarked on a restructuring, and announced in March
that 1,150 jobs were at risk.

 

Despite a big jump in food sales Sainsbury's is nursing a £261m loss.

 

Supermarkets have been among the big winners during the pandemic but they've
also had huge Covid-19 costs, from keeping workers and customers safe to
sick pay for staff who've had to shield.

 

Sainsbury's also incurred £617m of exceptional costs. Most of this was the
result of closing hundreds of standalone Argos stores as it restructures the
business.

 

The boss says that like his customers, he's looking forward to things
feeling more normal over the coming months.

 

But what is the new normal going to look like for our big grocers?

 

It's not just about the shift to online, grocers are thinking about the
future of work, and how to respond if many of us don't return to five days a
week in the office.

 

Sainsbury's is pressing ahead with plans to open more convenience stores and
new neighbourhood hub shops - mini supermarkets in smaller towns - which
could be a shrewd move if we're going to be working more from home and
shopping locally.

 

Chief executive Simon Roberts praised the "heroic" efforts of staff to keep
the business going during the pandemic, but added: "The cost of keeping
colleagues and customers safe during the pandemic has been high."

 

Susannah Streeter, senior investment and markets analyst at Hargreaves
Lansdown, said the costs of operating through the coronavirus crisis have
"seriously dented" the supermarket giant's bottom line.

 

"Redesigning layouts to keep customers and staff safe, paying colleagues in
full who needed to shield, all added [to costs] with £485m spent on Covid
related costs," she said.

 

Sainsbury's also spent £100m on higher staff salaries and special
recognition payments to colleagues "for their efforts during the crisis", Ms
Streeter added.

 

Keith Bowman, equity analyst at Interactive Investor, said the results
offered "broad optimism" for the future.

 

"[But] intense competition across the sector, including from discount
retailers Aldi and Lidl, cannot be ignored," he said.

 

Small store boost

On Wednesday Sainsbury's reiterated plans to open 25 to 30 convenience
stores per year for three years.

 

Mr Roberts said this would tap into the coronavirus trend of more people
working from home.

 

He said the return of people working a five day week in the office "is not
going to happen".

 

"As customers find new ways of working it inevitably will mean some of the
week working from home," he said. "We believe convenience stores will play a
big part in the local community."

 

Sainsbury's already has more than 800 convenience stores, and those "acted
as mini supermarkets in the crisis with sales up 13% on the year," he said.

 

"Hundreds of these stores will be in in important locations for customers as
they work locally," he added.-BBC

 

 

 

Government money seen powering U.S. economy in first quarter

U.S. economic growth likely accelerated in the first quarter, fueled by
massive government aid to households and businesses, charting the course for
what is expected to be the strongest performance this year in nearly four
decades.

 

The United States' economy is rebounding more quickly compared to its global
rivals, thanks to two additional rounds of COVID-19 relief money from
Washington as well as easing anxiety over the pandemic, which has boosted
domestic demand and allowed services businesses like restaurants and bars to
reopen.

 

Though the anticipated pick-up in gross domestic product last quarter would
leave output just below its level at the end of 2019, the economy remains at
least a couple of years away from fully recovering from the pandemic
recession, which started in February 2020.

 

The Commerce Department will publish its snapshot of first-quarter GDP
growth on Thursday at 8:30 a.m EDT (1230 GMT).

 

"It will be a solid GDP number," said Ryan Sweet, a senior economist at
Moody's Analytics in West Chester, Pennsylvania. "It's one small milestone
in many that we have to hit before we can say we have fully recovered from
the recession."

 

The economy likely grew at a 6.1% annualized rate in the first three months
of the year, according to a Reuters survey of economists. That would be the
second-fastest GDP growth pace since the third quarter of 2003 and would
follow a 4.3% rate in the fourth quarter.

 

The survey was, however, conducted before this week's March durable goods
orders, goods trade deficit as well as wholesale and retail inventories
data. Economists at Goldman Sachs initially trimmed their GDP growth
estimate by one-tenth of a percentage point to a 7.4% rate after the durable
goods data.

 

They subsequently raised the estimate to a 7.7% pace after the goods trade
deficit and inventory data.

 

Former President Donald Trump's government provided nearly $3 trillion in
relief money early in the pandemic, triggering record GDP growth in the
third quarter of 2020. That was followed by nearly $900 billion in
additional stimulus in late December. President Joe Biden's administration
offered another $1.9 trillion rescue package in March, which sent one-time
$1,400 checks to qualified households and extended a $300 unemployment
subsidy through early September.

 

The Federal Reserve on Wednesday acknowledged the burgeoning domestic
activity, but the U.S. central bank gave no sign it was ready to reduce its
extraordinary support for the recovery. read more

 

PENT-UP DEMAND

 

The rapidly accelerating economy could dampen enthusiasm among some moderate
Democrats for Biden's ambitious economic agenda. Biden on Wednesday unveiled
a sweeping $1.8 trillion package for families and education in his first
joint speech to Congress. Republicans oppose more stimulus, now worried
about swelling debt. The new package and an earlier infrastructure and jobs
plan total around $4 trillion, rivaling the annual federal budget.
[nL1N2ML15K}

 

There are concerns among some economists that the massive government funding
could ignite inflation. Many economists, including Fed Chair Jerome Powell,
expect higher inflation will be transitory, arguing that the labor market
remains 8.4 million jobs below its peak in February 2020.

 

A separate report from the Labor Department on Thursday is expected to show
549,000 people filed for state unemployment benefits last week, according to
a Reuters survey. Though claims have dropped from a record 6.149 million in
early April 2020, they remain well above the range of 200,000 to 250,000
that is viewed as consistent with a healthy labor market. About 17.4 million
Americans were receiving unemployment benefits in early April.

 

The economy continued to power ahead early in the second quarter, with
consumer confidence vaulting to a 14-month high in April, thanks to the
fiscal stimulus and the expansion of the COVID-19 vaccination program to all
American adults. That is helping to unleash pent-up demand.

 

Americans have accumulated at least $2 trillion in excess savings. Many
economists expect the economy will fully recover from the recession in late
2023. They expect growth this year could top 7%, which would be the fastest
since 1984. The economy contracted 3.5% in 2020, its worst performance in 74
years.

 

"Assuming vaccines remain effective against new variants of the virus, the
economy should experience significant growth for the rest of the year," said
Kevin Cummins, chief U.S. economist at NatWest Markets in Stamford,
Connecticut.

 

"The combination of an extraordinary amount of fiscal stimulus, highly
accommodative monetary policy, an extremely positive supply shock as the
economy re-opens and a pile of excess savings to support consumption make us
extremely optimistic about GDP growth in 2021 and 2022."

 

Growth in the first quarter was likely driven by consumer spending, which is
expected to have accelerated after almost braking in the final three months
of 2020. Another quarter of double-digit growth is anticipated for business
spending on equipment, as well as a rebound in investment in nonresidential
structures such as mining exploration, shafts and wells.

 

Residential investment likely contributed to GDP growth for a third straight
quarter. But trade was likely a drag for the third consecutive quarter as
some of the robust domestic demand was satiated with imports. Strong
consumption meant fewer unsold goods in warehouses, which likely resulted in
inventory accumulation subtracting from GDP growth.-The Thomson Reuters
Trust Principles.

 

 

 

Planemaker Airbus maintains forecasts as core profit rises

Airbus (AIR.PA) posted higher first-quarter core earnings on Thursday but
kept forecasts unchanged as its chief executive warned of uncertainty while
the COVID-19 pandemic lingers.

 

The world's largest commercial jetmaker said adjusted operating profit rose
147% to 694 million euros ($841.6 million), led by its commercial jet and
helicopter activities, as revenue slipped 2% to 10.46 billion euros.

 

The figures were slightly ahead of a company-compiled consensus of analyst
predictions and reflect higher aircraft deliveries, as well as an ongoing
restructuring project triggered by the heavy impact of the pandemic on air
travel.

 

"The first quarter shows that the crisis is not yet over for our industry
and that the market remains uncertain," Chief Executive Officer Guillaume
Faury said in a statement.

 

For the full-year, Airbus is expecting commercial deliveries equal to last
year's 566 jetliners, adjusted operating profit of 2 billion euros and
breakeven free cashflow.

 

($1 = 0.8246 euros)-The Thomson Reuters Trust Principles.

 

 

 

Asia shares rise on supportive Fed as Biden unveils new stimulus

Asian shares rose in early trade on Thursday after the U.S. Federal Reserve
said it was too early to consider rolling back emergency support for the
economy, and as U.S. President Joe Biden unveiled plans for a $1.8 trillion
stimulus package.

 

Fed Chair Jerome Powell said on Wednesday that "it is not time yet" to begin
discussing any change in policy after the U.S. central bank left interest
rates and its bond-buying programme unchanged, despite taking a more
optimistic view of the country's economic recovery. read more

 

Powell's comments came before Biden's unveiling of a sweeping package for
families and education in his first speech to Congress. read more

 

Excerpts of Biden's speech released in advance by the White House "hit the
high points - big infra(structure) spend, talking climate action and
vaccines," said John Milroy, investment adviser at Ord Minnett. "The Fed
remains dovish, all very supportive."

 

Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares
outside Japan (.MIAPJ0000PUS) was up 0.1%.

 

Australia's S&P/ASX 200 (.AXJO) edged up 0.31%, as strong oil prices lifted
energy stocks.

 

China's blue-chip CSI300 index (.CSI300) was 0.65% higher in early trade.
Hong Kong's Hang Seng index (.HSI) opened up 0.7%, Seoul's KOSPI (.KS11)
added 0.37% and Taiwan shares (.TWII) rose 0.48%.

 

Markets in Japan were closed for a holiday but Nikkei futures edged 0.05%
higher to 28,970.

 

Tech shares got a boost after Apple Inc (AAPL.O) on Wednesday posted sales
and profits ahead of Wall Street expectations, though it warned a global
chip shortage could dent iPad and Mac sales by several billion dollars. read
more

 

Nasdaq futures were 0.79% higher and S&P e-mini futures added 0.48% after
Wall Street ended lower on Wednesday. The Dow Jones Industrial Average
(.DJI) fell 0.48% to end at 33,820.38 points, while the S&P 500 (.SPX) lost
0.08% to 4,183.18.

 

The dollar dropped 0.15% against the yen to 108.43 and the euro gained 0.2%
to 1.2147 following the Fed's decision to maintain supportive policies.

 

Oil prices extended gains on Thursday after rising 1% in the previous
session as bullish forecasts for a demand recovery this summer offset
concerns of rising COVID-19 cases in India, Japan and Brazil.

 

Brent crude for June rose 0.37%, to $67.52 a barrel while U.S. West Texas
Intermediate crude for June was at $64.12 a barrel, up 0.41%.

 

Spot gold added 0.42% to $1,788.72 an ounce.- The Thomson Reuters Trust
Principles.

 

 

 

StanChart Q1 profit beats view on recovery from virus, shares rise

Standard Chartered PLC (STAN.L) posted on Thursday a higher- than-expected
18% rise in quarterly pre-tax profit, as the emerging markets-focused bank
began recovering from the economic hit caused by the coronavirus pandemic.

 

Pre-tax profit for January-March was $1.4 billion, versus $1.2 billion a
year earlier, and compared with an average analyst forecast of $1.08 billion
compiled by the British bank.

 

The improvement was driven by StanChart setting aside less cash to cover bad
loans than it had done one year ago, as well as strong performance in its
wealth management business.

 

However, unlike other British-based lenders such as HSBC (HSBA.L) and Lloyds
(LLOY.L) that reported earlier this week, StanChart released only a small
amount of the funds it holds against bad loans.

 

The lender took a $20 million credit impairment, down a hefty $354 million
from the previous quarter.

 

StanChart's Hong Kong listed shares traded up as much as 2.4% after the
results were announced, extending earlier gains.

 

In common with HSBC, StanChart's results showed how rock-bottom interest
rates globally are squeezing banks' profits, with its cash management
division - usually a steady earner - seeing income fall 32%.

 

And unlike U.S. rivals such as JPMorgan (JPM.N) that booked bumper trading
profits in the first quarter, StanChart's financial markets division also
saw revenues fall due to fading client demand.

 

One bright spot for StanChart was its often underperforming wealth
management business, which saw a record quarter with income up 21% on strong
sales of foreign exchange and equities-related products.

 

StanChart said it expected income to be similar this year to 2020, and to
grow more the following year.

 

Last year the bank pushed back its long-standing profitability goal of
reaching a return on tangible equity of 10%, as it increased charges for bad
loans due to the economic damage following the COVID-19 pandemic.-The
Thomson Reuters Trust Principles.

 

 

 

Facebook benefits from pandemic ad spending but Apple could spoil its party

Facebook Inc (FB.O) beat Wall Street expectations for both quarterly revenue
and profit on Wednesday but warned that growth later this year could
“significantly” decline as new Apple Inc (AAPL.O) privacy policies will make
it more difficult to target ads.

 

A surge in digital ad spending during the pandemic when consumers shopped
online, along with higher ad prices, helped Facebook revenue surge 48%.
Looking ahead, the world's largest social network said it will focus on
building e-commerce features to expand beyond its ad business.

 

Shares of Facebook rose 6.5% to $326.00 in extended trading.

 

"We have a long way to go to build out a full-featured commerce platform ...
but I am very committed to getting there," Facebook Chief Executive Mark
Zuckerberg told analysts on a conference call to discuss earnings.

 

Total revenue, which primarily consists of ad sales, hit $26.17 billion in
the first quarter ended March 31, beating analysts' average estimate of
$23.67 billion, according to IBES data from Refinitiv.

 

The digital advertising industry has boomed during the pandemic, benefiting
Facebook and others including Google, whose parent company Alphabet Inc
(GOOGL.O) reported record quarterly profit on Tuesday.

 

"Despite several headwinds - such as ongoing antitrust scrutiny, lingering
privacy concerns, as well as looming changes which could negatively impact
its advertising business - Facebook delivered another blockbuster quarter,"
said Jesse Cohen, senior analyst at Investing.com.

 

Zuckerberg said the company plans to focus on three key areas: building
augmented and virtual reality, e-commerce features and helping content
creators earn money on Facebook's platforms.

 

Monthly active users on Facebook rose 10% to 2.85 billion.

 

Net income for the first quarter came in at $9.5 billion, or $3.30 per
share, compared with $4.9 billion, or $1.71 per share, a year earlier.
Analysts had expected a profit of $2.37 per share.

 

Facebook said its total expenses for the year would be in the range of $70
billion to $73 billion, as it invests in consumer hardware products like
Oculus virtual reality headsets and infrastructure.

 

APPLE CHANGES

 

On Wednesday, Facebook said it expects the iPhone privacy change to impact
the second quarter, but third- and fourth-quarter revenue growth could slow
sequentially.

 

Facebook has blasted Apple over its requirement that iPhone app developers
begin asking users’ permission to collect certain data for ads. Facebook
says the change would harm its business and hurt small companies that rely
on personalized advertising.

 

Its push to build shopping and e-commerce features within Facebook and
Instagram are expected to bring additional revenue to the company and make
its ad inventory more valuable.

 

The company recently teased a slew of new features, including an affiliate
program to let content creators earn a cut of sales generated from
recommending products on Instagram.

 

Earlier this month, Facebook announced it was building a bevy of audio
products including live audio rooms to rival the popular app Clubhouse plus
in-app music and podcast players.

 

The company remains under scrutiny over its power as it faces major
antitrust lawsuits from a large group of U.S. states and the Federal Trade
Commission, and is under regular fire from lawmakers and rights groups for
its content moderation policies, algorithmic systems and handling of users’
data.-The Thomson Reuters Trust Principles.

 

 

 

Ford says chip shortage to halve Q2 vehicle output, but could ease this
summer

Ford Motor Co (F.N) on Wednesday said it expects a global semiconductor
shortage could ease this summer but may not be fully resolved until 2022, as
the automaker reported a strong first-quarter profit but said the shortage
may slash second-quarter production by half.

 

Ford said the ongoing chip shortage would cost it about $2.5 billion and
about 1.1 million units of lost production in 2021.

 

The No. 2 U.S. automaker handily beat Wall Street's profit estimate for the
quarter, earning 81 cents a share, compared with the consensus 21 cents,
according to Refinitiv IBES data. In last year's first quarter, the company
lost 50 cents a share.

 

Ford shares were down 2.9% in after-hours trade on Wednesday.

 

Ford Chief Executive Jim Farley told analysts: "There are more whitewater
moments ahead for us that we have to navigate. The semiconductor shortage
and the impact to production will get worse before it gets better. In fact,
we believe our second quarter will be the trough for this year."

 

Chief Financial Officer John Lawler said Ford's outlook was driven largely
by a factory fire suffered by Japanese chipmaker Renesas (6723.T). The flow
of chips from Renesas is expected to be restored in July, but the global
shortage of automotive semiconductors may not be fully resolved until next
year, Lawler said.

 

Ford said its net income of $3.3 billion was the best since 2011, and
adjusted pre-tax profit was a record $4.8 billion, including a $900 million
non-cash gain on its investment in Rivian, the electric vehicle start-up.
Ford lost $2.0 billion in the first quarter of 2020.

 

The company said the chip shortage will slash full-year earnings before
interest and taxes to $5.5 billion-$6.5 billion.

 

In February, CFO Lawler said the company was on course to earn $8 billion to
$9 billion in adjusted EBIT.

 

Revenue in the quarter increased to $36.2 billion, from $34.3 billion a year
earlier.

 

Ford was able to offset some of the impact of lost production in this year's
quarter by boosting the average transaction price per vehicle sold to nearly
$48,000, compared with just over $44,000 a year ago, according to research
firm Edmunds.com.

 

Ford dealers were able to command higher prices because of chip-induced
shortages of popular models, such as the best-selling F-150 pickup.

 

Lawler said Ford in the future may stick with leaner inventories of F-150
and other models "because it's a better way to run our business."

 

Overseas, Ford reported revenue in Europe up 13% to $7.1 billion, and $341
million in pre-tax profit, reversing a year-ago loss.

 

Revenue climbed 39% to $800 million in China, where Ford narrowed its loss
to $15 million, compared with a loss of $241 million a year earlier.-The
Thomson Reuters Trust Principles.

 

 

 

For Google, plenty of cash with nowhere to go

In announcing a $50-billion share buyback on Tuesday, Google-owner Alphabet
Inc (GOOGL.O) confirmed a paradoxical dynamic: its core advertising business
is so profitable, and so dominant, that it has few options for usefully
deploying its cash.

 

Alphabet reported record earnings on Tuesday, leaving its cash pile at about
$135 billion, up $18 billion over the last year.

 

A surge in internet usage during the pandemic helped propel the Google
search and YouTube advertising businesses that account for most of it
revenue and profit.

 

But antitrust investigators in the United States and elsewhere allege that
Google gained dominance in online ads using anti-competitive practices, and
lawsuits are piling up. That could leave Google wary of spending its money
on big acquisitions that are related to its existing businesses, as they
would likely be blocked on antitrust grounds.

 

"Fears of an increased regulatory clampdown on the company might have seen
Alphabet tread more carefully when deciding what to do with their cash
pile," said Samuel Indyk, analyst at uk.Investing.com.

 

Alphabet Chief Financial Officer Ruth Porat on Tuesday did not rule out
making deals, though.

 

"Our primary use of capital continues to be to support organic growth in our
businesses followed by retaining flexibility for acquisitions and
investments," she told analysts.

 

Betting on unrelated businesses, while easier from a regulatory standpoint,
would be unlikely to yield anything close to the returns enjoyed by Google.
And spending on internal projects has limits too: Alphabet has sunk tens of
billions into the its "other bets," including autonomous vehicle company
Waymo and blue-sky projects such as failed internet service Loon, but few
are close to being viable businesses.

 

Like many fast-growing tech companies, Alphabet has never paid a dividend,
preferring instead to return cash to shareholders through buybacks. Alphabet
bought back $31 billion in shares in 2020, 69% more than the year before,
according to Jefferies analyst Brent Thill.

 

The 2020 buyback amounted to 73% of its free cash flow, up from 59% in 2019,
he said.

 

Unlike dividends, which can lock a company into long-term fixed payouts to
shareholders that are difficult to reduce, buybacks also give Alphabet the
flexibility to adjust the flow of cash returned to investors at any time if
it needs the money for other purposes.

 

Some analysts say Alphabet shares are priced low relative to peers. Alphabet
shares trade at about eight times sales over the last year, while shares of
Facebook Inc (FB.O) are at 10 times and Microsoft Corp (MSFT.O) at 12 times.

 

Taking some shares off the market and stoking prices through the buyback,
one of the largest ever on Wall Street and almost twice the company's
previous highest authorization, could help close the gap with rivals.

 

"This (buyback) is a sign their stock is undervalued and a tougher
regulatory environment for M&A," Thill said. Alphabet shares rose as much as
6.1% to touch a record high of $2,431.38 on Wednesday.

 

Company leadership would benefit from higher shares under their new
compensation plans. Five senior executives including Porat over the last
year received stock awards that will vest, if at all, based on how Alphabet
shares perform relative to the S&P 100 in the coming years.

 

Alphabet is far from the only company with plenty of cash and antitrust and
other challenges hampering its potential use. Apple Inc (AAPL.O), Amazon.com
Inc (AMZN.O), Microsoft Corp (MSFT.O) and Facebook Inc (FB.O) have more than
$300 billion combined.

 

Share buybacks have been rising, both in the amount of repurchases and the
number of companies doing them, though activity remains below pre-pandemic
levels.

 

About one-third of S&P 500 companies have issued quarterly results as of
Tuesday, reporting $52 billion in buybacks in the first quarter, according
to Howard Silverblatt, senior index analyst with S&P Dow Jones Indices.
Those companies reported $42.8 billion in buybacks in the fourth quarter.

 

The calculation on buybacks versus dividends could change with U.S.
President Joe Biden’s new tax proposals, which aim to boost the levy on
capital gains from stock investments but leave taxes on dividends and
interest unchanged.-The Thomson Reuters Trust Principles.

 

 

 

Nigerian Firm Makes Bill Gates' Top Five Cleantech Companies

A Nigerian utility company, Arnergy, which recently raised $9 million in a
Series A round of funding renewable energy systems has been listed by Bill
Gates and Associates among top five Cleantech outfits that will help save
the planet.

 

The plan of Bill Gates and his friends is to invest in scientific
breakthroughs that have the potential to deliver cheap and reliable clean
energy to the world. The ultimate goal is to shepherd new zero-emissions
technologies to the market.

 

Since the inception of the firm seven years ago, its Founder and CEO, Mr.
Femi Adeyemo has not only built an organisation that seamlessly creates
solutions that make the environment safer, but has successfully built a
brand that has got the attention of Bill Gates and his billionaires'
friends.

With this development, Adeyemo's Arnergy broke the jinx, not just because it
is a Nigerian firm but also due to the fact that most of Breakthrough
Energy's portfolio companies are located in the United States.

 

As quoted in a recent article published by Forbes: "Operating out of Lagos,
Nigeria, Arnergy leases and sells what it calls solar energy systems--bulky
cabinet-size apparatuses on wheels fitted with solar panels and batteries
that essentially serve as solar-powered generators. The technical gear is
accompanied by a software platform that allows clients to monitor and
control their energy usage in real-time."

 

"We're only focused on investments that will have a substantial effect on
climate change," Gates told Forbes earlier this year.

 

Arnergy's goal is to ensure that shops and banks can stay open even when the
electric grid fails with its solutions.

 

According to the CEO, "Arnergy's systems allow businesses in countries like
Nigeria to pay for clean energy at the same or a lower price as traditional
fossil-fuel sources. Each of our 5-kilowatt modular systems is displacing
diesel and petrol generators on a daily basis."

 

Since its launch, Arnergy has delivered over 3MW of installed capacity and
over 9MWh of storage capacity to business and residential clients across
Nigeria.

 

Adeyemo, who decided to start the business after seeing how the Middle East
was using solar energy to power telecom towers, explained that Arnergy sells
to both small businesses and large enterprise data centres and has deployed
600 systems to customers that include the Nigerian branches of Citibank and
KPMG, as well as industrial conglomerate such Dangote Group.-This Day.

 

 

 

Nigeria: More Trouble for Nigeria As Fuel Subsidy Wipes Off Oil Revenue

The announcement by the NNPC will have telling consequences for the nation's
economy.

 

The Nigerian National Petroleum Corporation (NNPC) has said that it will
remit nothing into the federation account in the month of May due to costs
incurred from subsidy payments on petrol.

 

The NNPC made this known in a letter written to the Accountant-General of
the Federation, where it explained that it recorded a value shortfall of
N111bn in February 2021.

 

The shortfall, the NNPC said, will affect its contributions to federal
allocations to states for April and May.

The announcement will have telling consequences for the nation's economy.
Nigeria relies on oil receipts for most of its monthly expenses including
workers' salaries.

 

The national oil company said the decision becomes necessary in order to
bridge the gap between the landing cost and ex-costal price of petrol,
ensure the continuous supply of petroleum products to the nation, and
guarantee energy security.

 

The letter, seen by PREMIUM TIMES, was dated April 26 and signed by NNPC
Chief Financial Officer, Umar Isa. Those copied in the letter include the
Minister of Finance, Budget, and National Planning; the Director General,
Nigeria Governors Forum; the Director Home Finance; and the Chairman,
Commissioners of Finance Forum.

 

"The Accountant General of the Federation is kindly invited to note that the
average landing cost of Premium Motor Spirit (PMS) for the month of March
2021 was N184 per litre as against the subsisting ex-coastal price of N128
per litre, which has remained constant notwithstanding the changes in the
macroeconomics variables affecting petroleum products pricing," the NNPC
said.

"As the discussions between Government and the Labour are yet to be
concluded, NNPC recorded a value short fall of N111,966,456,903.74 in
February 2021 as a result of the difference highlighted above. Accordingly,
a projection of remittance to the Federation for the next three months is
presented in the attached schedule.

 

"Accordingly, the AGF is invited to note that the sum of N111,966,456,903.74
will be deducted from April 2021 Oil and Gas Proceeds due to the Federation
in May 2021, which will translate to zero remittance to the Federation
Account from NNPC in the month of May 2021."

 

NNPC remittances form a major part of revenues shared at the Federation
Accounts Allocation Committee (FAAC) meetings in Abuja.

 

Controversial FAAC

In recent years, allocations to states have always dwindled amid slump in
oil revenue and disruption in the global oil market, with FAAC meetings
always ending in a stalemate.

 

Since the coronavirus disrupted global economy and reduced oil revenues, the
sharing of revenues among state and federal governments at FAAC has always
been steeped in controversies.

 

Earlier in the month, Edo State Governor, Godwin Obaseki, alleged that the
government had to print an extra N60bn in March due to shortfall in FAAC
allocation to states.

 

The CBN and the Finance Ministry, however, dismissed the claim.

 

The new development would likely shape proceedings and deliberations at the
next FAAC meeting, as state governments scramble to settle overheads and fix
infrastructure.

 

Subsidy

 

The payment of subsidy has been a controversial subject in the management of
Nigeria's oil resources in the last decade.

 

While many Nigerians have called for its removal in order to enable the
government invest the fund into other developmental projects, others have
condemned such calls, citing it as perhaps one of the few "benefits" the
masses enjoy from the government.

 

Some pressure groups, such as the organised labour, have advised the
government to fix the refineries before removing fuel subsidy.

 

In March, a PREMIUM TIMES analysis showed that the nation may be expending a
whopping N102.5 billion monthly to reduce the retail cost of petrol monthly.
The NNPC in a subsequent press statement confirmed the projection.

 

A study supported by the British government estimated that Nigeria spent N10
trillion on subsidies from 2006 to 2018, more than the budgets for health,
education or defence.

 

Millions of Nigerians use petrol to power their vehicles, tricycles, and
motorcycles. In the midst of poor electricity supply, others power their
generators with petrol.-Premium Times.

 

 

 

Ghana: Twitter's New Office in Ghana Seen As a Snub to LGBT+ People

LGBT+ rights groups say Twitter has ignored the plight of LGBT+ people in
Ghana, where persecution is widespread and gay sex is punishable with up to
three years in jail.

 

Twitter Inc's decision to open its first African office in Ghana, citing it
as a champion of democracy, is "a slap in the face" for sexual minorities in
the country who suffer abuse and persecution, LGBT+ rights campaigners said
on Wednesday.

 

The social media giant announced earlier this month that the West African
nation was selected because it was a supporter of free speech, online
freedom and the Open Internet - values which Twitter said it also advocated
for.

 

But LGBT+ rights groups criticised the move, accusing the company of
disregarding the plight of LGBT+ people in Ghana, where persecution is
widespread and gay sex is punishable with up to three years in jail.

 

"It clearly shows the LGBTQ struggle has been dismissed by this powerful
company," said Alex Kofi Donkor, director of LGBT+ Rights Ghana, which
recently saw its community centre shut down by authorities after an anti-gay
uproar.

"They have erased us and our struggle by not even taking into consideration
the challenges and threats that we face in this country. It is a slap in the
face of LGBTQ people."

 

Twitter said a number of African organisations were members of its global
Trust and Safety Council, and advise the company on issues of freedom of
expression and democracy.

 

"Our mission is to serve the public conversation. We believe in the
unmatched power of the individual's voice and provide marginalised voices
with a platform to be seen and heard," Twitter said in a statement to the
Thomson Reuters Foundation.

 

"Twitter has been a catalytic factor in the mobilisation of various social
movements speaking truth to power, including the LGBTQ+ community."

Ghana has not prosecuted anyone for same-sex relations in years, but LGBT+
people face frequent abuse and discrimination, including blackmail and
attacks, human rights researchers say.

 

In February, Ghana's newly opened first LGBT+ community centre was raided
and shut down by authorities following strong opposition from politicians
and church organisations.

 

The move also emboldened a group of lawmakers who want to criminalise the
promotion of LGBT+ rights in the country with plans to present a private
members bill before parliament.

 

Donkor said recent events had stirred up homophobic sentiment, with
community members reporting increased attacks by the public as well as
persecution by authorities.

 

This included the arrest of 14 LGBT+ people at a party in March who were
accused by police of attending a "lesbian wedding", he said.

 

International organisations, such as Amnesty International, Pan Africa ILGA
and CIVICUS, and a host of global celebrities have voiced concern about the
increasing intolerance towards Ghana's sexual minorities.

 

In March, actor Idris Elba and model Naomi Campbell joined 65 other British
celebrities, designers and politicians in calling for Ghana's president to
engage with the LGBT+ community.

 

British pop star Boy George also released a song expressing solidarity with
LGBT+ Ghanaians and appealing to President Nana Akufo-Addo to respect their
rights.

 

Twitter said the company's Hateful Conduct policy explicitly banned abusive
behaviour towards a person or group, adding that the company takes strong
action against such users.

 

But Danny Bediako from local LGBT+ group Rightify Ghana said he did not
agree with Twitter that Ghana was a champion of democracy.

 

"There is a lot of homophobic material from Ghana on Twitter, including
death threats where people say they want to stone or burn us," said Bediako.
"This promotes anti-gay actions and makes us feel more unsafe."- Thomson
Reuters Foundation.

 

 

 

East Africa: Tanzania Remains the Place to Be for Cheap Data, Internet
Access in EA

For the second year running, Tanzania is the country in East Africa where
you will pay lowest to access the internet on your smartphone, according to
data released recently by British technology research firm Cable.

 

The report, Worldwide Mobile Data Pricing 2021, reveals that Somalia is no
longer offering the most affordable mobile internet in Africa, moving to
third, as Sudan and Algeria take the first and second places respectively.

 

"In Sudan, the cost of mobile internet is $0.27, cheapest in Africa and
fifth in the world. Algeria is second at $0.51 and Somalia third at $0.60.
Tanzania has the cheapest data in East Africa at $0.75 for every gigabyte of
data," says the survey.

 

Excellent infrastructure

 

The data collected and analysed between December 8, 2020 and February 25,
2021 shows that Tanzania is followed by Rwanda at $1.25, Uganda ($1.56) and
Burundi ($2.10) while Kenya, which was second in East Africa last year
charging $1.04, now charges $2.25 per gigabyte (GB).

Dan Howdle, consumer telecoms analyst at Cable said many countries with
cheap data have excellent mobile and fixed broadband infrastructure,
enabling providers to offer large amounts of data, and bring down price per
gigabyte.

 

"Others with less advanced broadband networks are heavily reliant on mobile
data" he said.

 

Nigeria and South Africa, which command high internet traffic from its tech
savvy population are charging $0.88 and $2.67 respectively.

 

Countries with long-established, ubiquitous 4G or new 5G infrastructure, the
study points out, tend to fall towards the cheaper end of the table.

 

"This is due to the fact that mobile data plans have escalated far beyond
the 1-10GB per month median, offering instead plans with caps in the
hundreds of gigabytes, or even completely unlimited. The cost per gigabyte
in these countries will tend therefore to be very low."

Good Infrastructure

 

However, the research clarified that many countries in the middle of the
list have good infrastructure and competitive mobile markets, and while
their prices aren't among the cheapest in the world they wouldn't
necessarily be considered expensive by its consumers.

 

Israel is now offering the most affordable mobile internet in the world at
$0.05, moving from second place last year, while India shockingly moved from
first place last year to 28th this year at $0.68.

 

Israel is followed by Kyrgyzstan ($0.15), Fiji ($0.19), Italy ($0.27) and
Sudan.

 

The UK is 78th in the world, with 1GB of mobile data costing an average of
$1.42. The US is one of the most expensive economies for mobile data, coming
in 154th in the world, with an average 1GB cost of $3.33.

 

Other developed economies with high data prices are Germany, Japan,
Portugal, South Korea, Switzerland, Belgium, Canada and Norway which charge
$3.38, $3.38, $3.85, $4.72, $5.24, $5.28, $5.72 and $5.81 respectively.

 

The survey notes that wealthy nations tend to have good mobile
infrastructure, decently-sized data caps and relatively healthy markets.

 

"Since populations can afford to pay more, and network infrastructure costs
that much more to own and run, and provided they haven't reached the
'excellent infrastructure' category where data limits are beyond normal
usage or entirely unlimited, data pricing drifts towards the global
average."- East African.

 

 

 

Kenya Suspends India Flights Over Covid Surge

Nairobi — Kenya announced Wednesday the suspension of flights to and from
India following a surge in COVID-19 infections and deaths.

 

India has been reporting over 300,000 COVID cases daily, with over 2,000
deaths in the recent weeks, a situation that has overwhelmed the country's
health care system and crematoriums.

 

"Given the dire events in India, we resolved to suspend all passenger
flights in and out of the country for a period of 14 days. This suspension
is to take effect from midnight this coming Saturday," said Mutahi Kagwe,
Health Cabinet Secretary after a meeting with the National Emergency
Response Committee (NERC).

 

Kagwe said passengers arriving from India in the next 72 hours will have to
undertake mandatory testing, and will undergo a 14-days mandatory quarantine
at their own cost.

 

"All passengers arriving from India within these 72 hours shall be subjected
to rapid antigen testing upon arrival at our ports of entry and shall be
required to strictly observe a 14-day quarantine period that will be closely
monitored by our health officials," he said.

Cargo flights are now affected.

 

Kenya announced the flight ban on the day India's coronavirus death toll
passed 200,000 with more than 3,000 fatalities reported in 24 hours for the
first time, official data showed.

 

A total of 201,187 people have now died, 3,293 of them in the past day,
according to health ministry data, although many experts suspect that the
true toll is higher.

 

India has now reported 18 million infections, an increase of 360,000 in 24
hours, which is a new world record. This month alone the country has added
almost six million new cases.

 

The explosion in cases, blamed in part on a new virus variant as well as
mass political and religious events, has overwhelmed hospitals with dire
shortages of beds, drugs and oxygen.

 

The crisis is particularly severe in New Delhi, with people dying outside
packed hospitals where three people are often forced to share beds. Clinics
have been running out of oxygen.

 

India has so far administered 150 million vaccine shots and from Saturday
the programme will be expanded to include all adults, meaning 600 million
more people will be eligible.

 

However, many states are warning that they have insufficient vaccine stocks
and experts are calling on the government to prioritise vulnerable groups
and badly hit areas.-Capital FM.

 

 

 

Ethiopia's Untapped Natural Resource of Bamboo Forest

Ethiopia has one of the largest bamboo resource potential in the world.
However, it is hard to conclude that the country has been getting benefit as
per the potential it has.

 

As many argued, the plant is used to make watches, bikes, scaffolding,
chopsticks, flooring, furniture, building and roofing materials, paper and
textiles among other items. It's a plant which doesn't require any chemicals
-- fertilizers or pesticides -- as it's largely immune to disease and pests.

 

Some documents suggested that practical policies at the local, national and
regional levels are needed for African countries to fully realize it's
potential.

Ethiopia is undertaking various activities to efficiently use bamboo
resource as alternative energy source to satisfy the current energy
requirements. So far, various projects have been implemented to reduce the
increasing pressure of deforestation, environmental degradation, household
emissions and women and girls health hazards.

 

The ability of bamboo to withstand drought season indicates the great
potential of bamboo forage as source of feed for livestock. Bamboo has been
consumed by animals such as cattle; sheep, goat, horse and donkey.

 

Bamboo resource is widely found in Benishangul-Gumuz, SNNPs, Oromia and
Amhara state. Of the listed states, Benishangul-Gumuz has 440,000 hectares
of Shimal bamboo (Oxytenanthera abyssinica) which at present is mainly used
for subsistence uses such as housing, fencing, kitchen utensils, and
agricultural implements and shoots for food.

Some people earn a small income by selling bamboo poles to people in Hawassa
for use in traditional houses, and by selling small pieces of poles as fuel
wood. According to experts working in the area, if the resource will be
exploited properly, the nation can gain 12 million Birr per year.

 

Bamboo Senior Expert and Technologist, Mulatu Teshale said bamboo isn't
utilized beyond constructing a house, boat, fence and in house equipment.
Thus, this wealth has not been exploited and unable to play its stake in
bringing foreign currency.

 

As it is one of raw inputs for factories, it attracts investments with a
great contribution for the country via generating more jobs. Primarily,
there were trials to enhance bamboo's resource utilization via offering
training to enterprises even though the attention given to it by the states
and federal government is too minimal. Due to this and other hurdles, the
desired result is still yet to come.

"Like other countries, devising curriculum in bamboo productions is decisive
to enhance the sector."

 

So far, there are only three manufacturers engaged in the sector. Having
these manufacturers alone, it is hard to gain foreign currency as per the
desire. So the government should be committed to toil strongly so as to
enhance productivity and promote the use of bamboo products.

 

According to him, over 15 types of bamboo plants are found in highland and
lowland parts of Ethiopia. Especially, the resource found in the western
parts of the country is by far greater than elsewhere. Thus, exploiting such
a wealth is not a task left for tomorrow.

 

In terms of building the capacity of bamboo products, agreement was signed
between China and Ethiopia to establish the first ever Bamboo Products
Training Center in Ethiopia some years ago, the plan has not been practical
due to unknown reasons.

 

Had it been a reality, the center would have a vision of benefiting African
countries via producing bamboo using scientific methods. It would also
offers training to farmers in order to maximize the benefit they earned from
this untapped resource.

 

Enhancing the number of manufacturers interested to engage in the sector is
also another method of enhancing the bamboo resources. For this to happen,
apart from fulfilling infrastructures in the place where the resource is
widely found, facilitating incentives is also expected from the government.

 

By adding values on the wealth, manufactures engaged in the sector has to
enhance productivity applying various innovative ideas, he suggested.

 

Tefera Mengistu, is another expert in the area. He said that compared to
East African countries, Ethiopia has wide forest coverage and bamboo is one
among many types of forest vegetation found in Ethiopia.

 

Citing the research conducted recently, he added that bamboo coverage ranges
from 500,000 to 700,000 hectares in the country. The coverage once reached
one million hectares of land, he recalls.

 

Bamboo is a fast growing forest harvest with in short period of time. Once
planted it can begin harvesting after three years. It can also benefit a
number of people. Nowadays, there has been a potential of cultivating one
million hectare bamboo.

 

Ethiopia is preparing a strategy that would enable it to enhance the
development of bamboo forest so as to maximize benefit. The new strategy
focuses on the bamboo production from planting a tree to harvesting stage.

 

It would give direction on how producers can get benefit out of the sector.
The strategy also expected to address gapes related to bamboo production,
show ways of utilizing bamboo and so on. It also includes the value-chain
among producers and cultivators.-Ethiopian Herald.

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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

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

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Skype:         Bulls.Bears 



 

 

 


 

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:
<mailto:info at bulls.co.zw> info at bulls.co.zw Tel: +263 4 2927658 Cell: +263 77
344 1674

 


 

 

 

 

 

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