Major International Business Headlines Brief::: 24 August 2021

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

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

 


 

 


Major International Business Headlines Brief::: 24 August 2021

 


 

 


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

 


 

 


ü  Didi: China ride-hailing giant halts plan to launch in UK

ü  McDonald's UK restaurants run out of milkshakes

ü  Retail bosses demand more protection for UK workers

ü  Retail survivors: The London shops that have been trading for centuries

ü  Prisoners to plug worker shortage in meat industry

ü  Chip giant's IPO hit by Beijing crackdown on business

ü  S.Korea set to curb Google, Apple commission dominance

ü  Samsung to invest $206 bln by 2023 for post-pandemic growth

ü  Asian stocks cling to gains as Fed taper worries ease

ü  With holidays around the corner, Walmart starts last mile delivery
service

ü  Delta blow knocks wind out of Asia's economic recovery

ü  Banco Santander unit to buy out U.S. consumer business for $2.5 bln

ü  Chinese automaker Changan aims to sell 3 million cars annually in 2025

ü  German consumers, state spending drive Q2 economic recovery

ü  Malawi: Mzuzu City Council Seals Mbc Offices Over K746, 000 Unpaid
Rentals

ü  Egypt: Sisi On Sada El Balad Channel - Egyptian State Has Taken Serious
Steps for Education Development

ü  Nigeria: FAAN Moves to Enhance Airport Facilitation

ü  Tanzania: DSE Turnover Reaches 74bn/ - Year to Date

 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

Didi: China ride-hailing giant halts plan to launch in UK

Chinese ride-hailing giant Didi has halted plans to launch in the UK and
continental Europe, a source close to the company has told the BBC.

 

The Uber rival had been planning to roll out services in Western Europe,
including major British cities.

 

Didi is in consultation with the team working on the project on reassigning
new roles or potential redundancies.

 

The move comes as Chinese firms face intense scrutiny by Western nations and
Beijing cracks down on data privacy.

 

Didi did not comment directly on the story that was first reported by The
Daily Telegraph but said in a statement: "We continue to explore additional
new markets, liaising with relevant stakeholders in each and being
thoughtful about when to introduce our services."

 

"As soon as we have any more news on additional new markets, we look forward
to sharing," the spokesperson added.

 

Didi has been expanding its international business and has recently launched
services in a number of new countries in South Africa, Ecuador and
Kazakhstan.

 

In response to questions about the future of its team in the UK Didi said:
"We have established an international talent hub in the UK, recognising the
exceptional quality of people in the market. Beyond that, any personnel
matters remain strictly confidential."

 

Didi's decision comes as Chinese companies face increasingly close attention
from authorities in Western countries.

 

Last year, telecoms giant Huawei was banned from the UK's 5G infrastructure
and faces scrutiny over its security practices from Britain's National Cyber
Security Centre.

 

Huawei is also one of the Chinese companies hit by tough restrictions in the
US.

 

Under the Trump administration firms including the hugely popular
video-sharing app were targeted over allegations of links to the Chinese
government.

 

While President Biden has eased back on some of that rhetoric Washington is
still keeping up the pressure on Chinese firms.

 

At the same time Didi has come under intense scrutiny in China as Beijing is
increasingly cracking down on data privacy.

 

Earlier this year, the country's internet regulator ordered online stores to
stop offering its app, saying it illegally collected users' personal data.

 

The announcement came just two days after the company raised $4.4bn
(£3.21bn) in its New York Stock Exchange debut. Didi's shares fell sharply
on the news.

 

The Chinese government is also introducing broader measures to protect data
privacy.

 

On Friday, the country's top legislative body, the Standing Committee of the
National People's Congress, passed a sweeping new privacy law.

 

The Personal Information Protection Law aims to strictly control data
collection by technology firms and will take effect from 1 November.-BBC

 

 

McDonald's UK restaurants run out of milkshakes

McDonald's says it has run out of milkshakes at its UK restaurants.

 

The fast-food chain said it was experiencing some supply chain issues, which
had affected the availability of a small number of menu items.

 

These products also include some bottled drinks, which are temporarily
unavailable in its 1,250 outlets in England, Scotland, and Wales.

 

The problems emerged because of low stock distribution caused by the
continuing shortage of HGV drivers.

 

Last week, Nando's was forced to close about 50 of its restaurants after
running out of chicken.

 

Rival KFC also warned recently that supply chain issues meant it was unable
to stock some menu items.

 

At the same time, dairy giant Arla has had to cut back on milk deliveries to
supermarkets because of a shortage of drivers.

 

A spokesman told the Independent newspaper the company was "working hard to
return these items to the menu".

 

Firms from a number of sectors in the UK have been battling with a supply
chain crisis due to a shortage of lorry drivers. They blame post-Brexit EU
immigration rules, Covid-19 restrictions and self-isolation rules.

 

Business groups representing the retail and transport sectors have been
calling for the government to reverse its decision not to grant temporary
work visas to drivers from the EU.-BBC

 

 

 

Retail bosses demand more protection for UK workers

Retail leaders are urging the UK government to follow Scotland's example in
extending new protections for shop workers.

 

The Protection of Workers Act comes into force in Scotland on Tuesday, which
makes assaulting or abusing retail staff a standalone offence.

 

The British Retail Consortium (BRC) and union Usdaw want similar rules to be
introduced across the rest of the UK.

 

BRC boss Helen Dickinson said "enough is enough".

 

"It is incomprehensible that despite Holyrood's decisive action, the UK
government has so far failed to provide the same protections to shop workers
in the rest of the UK," the head of the trade group said.

 

Ms Dickinson added that the BRC would "not stop until our asks are met".

 

Violence against shop staff increasing, survey says

Shop worker abused 'every day for a year'

The new Scottish law, which was passed unanimously, will also see tougher
sentences for perpetrators.

 

Usdaw is also calling on the government to bring forward an amendment to
extend the same protections to retail staff in England, Wales and Northern
Ireland when its policing bill goes to the House of Lords for a second
reading in September.

 

Its general secretary, Paddy Lillis, said shop workers face "violence,
threats and abuse" on a regular basis.

 

This has been exacerbated by staff being asked to enforce Covid-related
measures such as social distancing or mask-wearing during the pandemic,
Usdaw said.-BBC

 

 

 

Retail survivors: The London shops that have been trading for centuries

The coronavirus pandemic has led to the hardest times for retail in living
memory, although there are some businesses in London that have a history
that goes back hundreds of years. How have these traditional shops fared in
such a challenging environment?

 

London's streets have pulsed with people and enterprise for many centuries
but when the coronavirus pandemic hit, the capital fell eerily quiet. A
record number of shops closed on the UK's high streets as footfall dropped
alarmingly.

 

Some of London's retailers have been around long enough to have gone through
not just both world wars, but also the abolition of slavery, the
establishment of the world's first underground railway and the founding of
the Metropolitan Police.

 

The BBC has spoken to four of the capital's ultimate retail survivors -
which together can boast nearly 1,000 years of trading - about the trials of
the past 18 months.

 

'We are the custodians of the business'

The origins of London's oldest surviving food shop, Paxton & Whitfield, can
be traced back to a cheese stall in Aldwych market in 1742.

 

As London became increasingly affluent, the cheesemonger moved closer to its
wealthy customer base, near Jermyn Street in the West End, where there is
still a shop today.

 

Lockdown presented many challenges, according to Paxton & Whitfield's retail
manager Hero Hirst.

 

"It was how to adapt fast enough to how people want to adapt their buying
habits," she said.

 

After an initial stage of "panic buying cheddar and parmesan that would last
well" customers reverted to making smaller-scale purchases.

 

"A lot of sales switched to online, and we were able to meet that demand
very suddenly."

 

Paxton & Whitfield, which has two shops in London and another in Bath, found
that its second shop in the capital did very well during lockdown.

 

"Footfall was very, very low in the centre of town, but our village
green-type place in the middle of Chelsea was incredibly busy."

 

Lockdown led to "some real unexpected benefits", Ms Hirsh said, explaining
that this period might have helped shape the 279-year-old business's future.

 

"Expertise and guidance are really fundamental to how a business like ours
works - you can buy cheese from lots of places," Ms Hirsh said.

 

With in-store cheese sampling no longer an option, they decided to offer an
online service with an expert cheesemonger to guide customers through
cheeses delivered to their homes.

 

This proved to be "way more popular" than the in-person approach. "We can
now offer those classes all over the country. That's definitely something
that's staying."

 

Staying small and agile has helped the family business survive this long, Ms
Hirsh said.

 

"After World War Two we did become a grocery store because of rationing,
until 1954. The fact we're a small business, and we've always been
family-owned, means we're able to implement things quickly."

 

She added: "Because we've been trading so long, everyone here understands
they are custodians of the business. Anyone who acts a custodian for Paxton
& Whitfield does feel a duty to keep it going.

 

"There must be a very good reason that we've been trading for over 275
years."

 

Founded in 1676, Lock & Co has sold handmade hats to, among others, Admiral
Lord Nelson, Charlie Chaplin and Jacqueline Kennedy.

 

Despite its reputation for upholding tradition, nonetheless the hat-maker
has long prided itself on "remaining on the cutting edge" - the iconic
British bowler hat and the grey top hat are both Lock & Co creations.

 

Roger Stephenson, the deputy chairman, said: "We've survived depressions,
recessions, two world wars and were even here when Wellington was beating
Napoleon.

 

"Lockdown is the first time our business has ever had to close in our whole
history."

 

As the UK's social calendar dried up to help stop the spread of coronavirus,
so too did Lock & Co's market.

 

"We normally supply weddings and garden parties, but no-one had any reason
to go out," Mr Stephenson said.

 

The build-up to Royal Ascot, the yearly horse-racing meeting where fashion
is all important, is normally the busiest period for the hat-maker.

 

The five-day festival, traditionally attended by the Queen, can bring in up
to 25% of the shop's yearly income, but last year Royal Ascot was held
behind closed doors.

 

Mr Stephenson, the seventh generation of his family to work at Lock & Co,
said: "We were able to look back at what my grandfather and father and those
before them had gone through.

 

"You try and conjure up some of that 'Blitz spirit' I suppose, to keep the
show on the road and look at the positives. But this pandemic was so
unprecedented.

 

"It was a scary time for everyone, but I think we grew into it. The website
is something we've been growing anyway, and we really concentrated on our
digital offering."

 

Despite the challenges presented by coronavirus, Mr Stephenson says Lock &
Co is already "bouncing back".

 

"Providing good products and good business hasn't changed in 350 years."

 

Henry Poole & Co has been described as the birthplace of modern black-tie
dressing.

 

The family-run business helped to make Savile Row the world's the most
famous location for bespoke men's clothing.

 

Founded in 1806 as a military uniform-maker, its tailors invented the tuxedo
for King Edward VII who wanted an alternative to tailcoats for some
occasions.

 

Simon Cundy, managing director at Henry Poole, said the past 18 months had
been "the hardest period the tailoring trade has ever been through".

 

"Suddenly in this pandemic, it's been a complete shutdown of all markets.
Even in war times, we had many patrons come over from the Americas who were
residing here for the war effort."

 

Business shrunk to the point the company experienced only about 20% of its
usual turnover.

 

While Henry Poole & Co has been able to make some online sales, the core of
its work cannot be done remotely, said Mr Cundy.

 

"Fitting a suit on Zoom is like a doctor giving a patient a needle and
thread and telling them how to take out their own appendix," he said.

 

"There's a one-to-one aspect in our trade that drives our business; like a
doctor or dentist, but with better news."

 

He added: "I'm sitting on around 200 suits waiting to be fitted. It's a
complete backlog. I've got the work, I just can't physically go to people to
fit it."

 

Henry Poole fabric

image captionThe company has been behind several innovations in the
tailoring world

The signs are already pointing towards another "Roaring Twenties" now that
lockdown is over, Mr Cundy believes.

 

"There will always be a need to dress up and throw a party.

 

"Already, colour-wise, people want a lot more vibrant. There's a flamboyance
to our new orders saying 'we're out of this and we're going to celebrate in
style'."

 

Although the domestic market is reviving, Mr Cundy is still waiting for
global travel to open up as Savile Row tailoring is international - the
Japanese word for suit is "sebiro", a truncation of "Savile Row".

 

In normal times Mr Cundy says he would be flying to North America, Asia and
the Middle East to fit suits to clients.

 

"We're still at only half capacity and we will be until we can think of a
way to get our travel sorted."

 

Moyses Stevens, which has been selling flowers to Londoners since 1876, is
the capital's oldest florist.

 

Over the decades, it has collected several royal warrants, including one to
supply the Duchess of Cambridge with flowers.

 

In normal times the handiwork of the florist could be seen in hotels across
London, but when lockdown hit, 90% of that work dried up, according to
operations manager Gemma Kavanagh.

 

"Revenue through weddings, which are a big part of our business, obviously
dropped to nothing too," she said.

 

Lockdown was "different, not disastrous", though, with people still having
occasions to celebrate.

 

"The first lockdown took place after Mother's Day," Ms Kavanagh explained.
"We would normally receive around 100 orders a day, but that got to more
than 300 per day."

 

She added: "Instead of sending flowers for special occasions people began to
celebrate more normal occasions. Flowers to celebrate dates people should
have been having, 'we're thinking of you' flowers etcetera."

 

Ms Kavanagh, who has been working in the floristry industry since her first
Saturday job at 14, says "being a florist toughens you up".

 

"People think it's all pretty flowers, but it's hard work - we have to deal
with really cold weather, arranging flowers with no heating, work with our
hands all day," she said.

 

"It's something you have to do because you love it, and that breeds a small
but strong community."

 

Moyses Stevens is resilient in part because of its long history, Ms Kavanagh
says.

 

"We're lucky to have such a heritage behind us. I think it makes you fight
harder than you thought possible to keep it going, given it's been around
for so long."

 

Not being able to see customers made the florist realise the "importance of
community", Ms Kavanagh said.

 

"Customers were calling the head office every day or messaging over social
media checking up on our staff.

 

"That's why we realised our high streets were so important. All our shops
are little hubs for people to come in to see the flowers and always see a
friendly face and have a chat.

 

"This is why we've weathered every storm that's been thrown at us. This is
why the industry will survive."-BBC

 

 

Prisoners to plug worker shortage in meat industry

Abattoirs, butchers and meat processors are set to employ prisoners and
ex-inmates to help plug labour shortages.

 

Meat industry leaders held talks with the government on Monday to discuss
options of how businesses could link up with prisons to fill vacancies.

 

The Association of Independent Meat Suppliers told the BBC the industry had
about 14,000 job vacancies currently.

 

It said Covid, Brexit and perceptions over career paths had caused a looming
"recruitment crisis".

 

The industry body said businesses would seek to link up with prisons that
contain prisoners who are part of the Release On Temporary Licence (ROTL)
programme.

 

ROTL is a risk-assessed temporary release programme that inmates in open
prisons use to gain work experience to help them in their transition back
into the community.

 

Tony Goodger, of the Association of Independent Meat Suppliers, said the
industry body would contact members who required staff and work with the
Ministry of Justice to put them in contact with prison services, in a bid to
recruit people about to leave prison or current inmates.

 

Mr Goodger said some members already employed inmates on ROTL, and had found
them to be "well behaved, hard-working, and willing to learn".

 

"It's down to the members [who they employ]," he said. "They [prisons] have
got offenders and prison-leavers, we have got members who need labour. It
seems sensible to bring the two together."

 

Turkey processing giant Bernard Matthews has previously formed links with
HMP Norwich and regularly visits the prison as part of its recruitment
cycle, to assess candidates and offer inmates contracts to start upon
release.

 

Mr Goodger said that many prisons taught inmates food safety skills, which
would aid them in finding work in the industry.

 

"We have suggested that they look at some of the other free training
available such as the FSA's Allergen training and Vacuum Packing training,
in order that offenders can leave prisons 'job ready'," he added.

 

The food manufacturing industry has also looked to employ former armed
service personnel. However, the number of people taking up jobs has been
low.

 

The Covid pandemic and Brexit have both contributed to current worker
shortages, with furloughed workers finding new jobs and EU nationals
returning to their home countries.

 

The British Meat Processors Association said the current level of vacancies
represented about 15% of the industry's workforce.

 

The industry body said its members were "trying absolutely every avenue" to
recruit workers.

 

Training expansion

The government recently announced the expansion of a kitchen training scheme
across jails in England and Wales.

 

The Clink Kitchens Scheme sees prisoners train in professionally run prison
kitchens for up to 35 hours a week while working towards professional
qualifications to help them find employment on the outside.

 

However, the food industry is not the only sector to witness a shortage of
workers. A lack about 90,000 HGV drivers "is placing increasingly
unsustainable pressure on retailers and their supply chains", according to
lobby groups.

 

In a letter to Kwasi Kwarteng, the business secretary, the British Retail
Consortium (BRC) and freight trade group Logistics UK have warned that
consumers will suffer unless the government intervenes.

 

A Ministry of Justice spokesman said it would support "all industries with
skills shortages where possible".

 

"Helping prisoners find jobs during their sentence and after release makes
it much less likely they will reoffend," he added.-BBC

 

 

Chip giant's IPO hit by Beijing crackdown on business

Chinese electric car maker BYD's plan to sell shares in its computer chip
making unit has been suspended, the latest share offering to be hit by
Beijing's crackdown on businesses.

 

The listing has been put on hold due to a regulatory investigation into the
law firm advising the company.

 

The plan to list on Shenzen's Nasdaq style market ChiNext was filed in May.

 

The suspension comes amid a broader regulatory tightening on industry by
Chinese authorities.

 

Over the weekend, the Shenzen Stock Exchange said Beijing Tian Yuan Law
Firm, one of China's biggest legal services companies, was being
investigated in relation to the listing.

 

It said the firm, which has been an advisor for BYD Semiconductor's planned
initial public offering (IPO), was being investigated by China's Security
Regulatory Commission but gave no further details.

 

BYD Semiconductor had aimed to raise at least $421m ($309m) from the sale of
shares.

 

It planned to invest the money back into the business as global carmakers
struggle with a shortage of computer chips

 

The firm is China's biggest maker of microcontroller chips for vehicles.

 

Microcontrollers are vital components in modern cars, used for everything
from seats and windows to steering and anti-lock brakes.

 

BYD Semiconductor competes directly with major chip makers including
Germany's Infineon and Rohm Semiconductor in Japan.

 

Parent company BYD is China's biggest car maker by market valuation and is
backed by US investment veteran Warren Buffett.

 

BYD is the latest Chinese company to have its plans up-ended as Beijing
tightens regulations on everything from technology giants to insurance
providers.

 

New privacy law

Beijing is introducing measures to protect data privacy, and on Friday,
China's top legislative body, the Standing Committee of the National
People's Congress, passed a sweeping new privacy law.

 

The Personal Information Protection Law aims to strictly control data
collection by technology firms and will take effect from 1 November.

 

A number of technology companies have faced problems in China with relation
to data privacy.

 

Earlier this year, the country's internet regulator ordered online stores
not to offer Chinese ride-hailing firm Didi's app, saying it illegally
collected users' personal data.

 

It came just two days after the company's New York Stock Exchange debut and
its shares fell sharply on the news.

 

In late July, shares in Chinese online tutoring firms slumped after Beijing
stripped them of the ability to make a profit from teaching core subjects.

 

Beijing has also cracked down on foreign investment in the industry.

 

Last November, in one of the most high-profile business crackdowns by
Beijing, the stock market debut of technology giant Ant Group was abruptly
halted.

 

Ant, backed by Jack Ma, the billionaire founder of e-commerce platform
Alibaba, was set to sell shares worth about $34.4bn.

 

But that was suspended on account of competition concerns, with China
forcing a sweeping restructure on the group.

 

The listings in Shanghai and Hong Kong would have been the biggest stock
market debut to date.-BBC

 

 

 

S.Korea set to curb Google, Apple commission dominance

(Reuters) - South Korea is likely to bar Google and Apple from requiring
software developers to use their payment systems, effectively stopping them
from charging commissions on in-app purchases, the first such curbs on the
tech giants by a major economy.

 

The parliament's legislation and judiciary committee is expected on Tuesday
to approve the amendment of the Telecommunications Business Act, dubbed the
"Anti-Google law," that takes aim at app store operators with dominant
market positions.

 

If the bill gets the committee's approval, it will be put to a final vote on
Wednesday. Lawmakers in South Korea have pushed the issue of the commission
structure since mid last year.

 

Alphabet Inc's (GOOGL.O) Google and Apple Inc (AAPL.O) were not immediately
available for comment.

 

Both companies have faced global criticism because they require software
developers using their app stores to use proprietary in-app payment systems
that charge commissions of up to 30% on in-app purchases.

 

"For gaming apps, Google has been forcing app developers to use its own
payment system ... and it wants to expand its policy to other apps like
music or webtoon," said Kwon Se-hwa, a general manager at the Korea Internet
Corporations Association, a nonprofit group representing Korean IT firms.

 

"If the new bill becomes the law, developers will have options to use other
independent payment systems," Kwon said.

 

The European Union last year proposed the Digital Markets Act, taking aim at
app store commissions. The rules are designed to affect large companies, but
some European lawmakers are in favour of tightening them to specifically
target American technology giants, Reuters reported in June. read more

 

 

Earlier this month in the United States, a bipartisan trio of senators
introduced a bill that would rein in app stores of companies that they said
exert too much market control, including Apple and Google. read more

 

In South Korea, the home market of Android phone maker Samsung Electronics
Co Ltd (005930.KS), Google Play Store earned revenue of nearly 6 trillion
won ($5.29 billion) in 2019, according to a government report published last
year.

 

Earlier this year, Google said it will lower the service fee it charges
developers on its app store from 30% to 15% on the first $1 million they
earn in revenue in a year. Apple has made similar moves. read more

 

For Apple too, commissions from in-app purchases are a key part of its $53.8
billion services business, and are a major expense for some app developers.

 

In May, an antitrust lawsuit filed by the maker of the popular game
"Fortnite" against Apple revealed that the game maker paid $100 million in
commissions to Apple over two years. read more

 

The Thomson Reuters Trust Principles.

 

 

Samsung to invest $206 bln by 2023 for post-pandemic growth

(Reuters) - Samsung Group will invest 240 trillion won ($206 billion) in the
next three years to expand its footprint in biopharmaceuticals, artificial
intelligence, semiconductors and robotics in the post-pandemic era, Samsung
Electronics Co Ltd (005930.KS) said.

 

The jewel of South Korea's biggest conglomerate on Tuesday said the
investment through 2023 will help strengthen the group's global standing in
key industries such as chip-making, while allowing it to seek growth
opportunities in new areas such as robotics and next-generation
telecommunications.

 

Samsung Electronics, the world's largest memory chip maker, said the group
plans to solidify technology and market leadership through mergers and
acquisitions. It did not provide a breakdown of the investment figures.

 

The firm did not say whether the latest investment figure includes the $17
billion it was reportedly spending on a new U.S. chip contract chip factory.

 

The plan is 30% larger than Samsung's previous three-year strategy floated
in 2018. The group decided to increase investment to retain technological
leadership, especially during "emergency situations" at home and abroad.

 

"The chip industry is the safety plate of the Korean economy... Our
aggressive investment is a survival strategy in a sense that once we lose
our competitiveness, it is almost impossible to make a comeback," Samsung
Electronics said in a statement.

 

Chip rivals including Taiwan Semiconductor Manufacturing Co Ltd (2330.TW)
and Intel Corp (INTC.O) are making large investments amid a global chip
shortage and intensifying competition in the advanced chip segment.

 

Samsung Group has 59 affiliates with assets totalling 457 trillion won,
according to South Korea's Fair Trade Commission.

 

The investment plan comes just over a week since Samsung Group leader Jay Y.
Lee was released from jail on parole following convictions for bribery and
embezzlement.

 

($1 = 1,167.0800 won)

 

The Thomson Reuters Trust Principles.

 

 

Asian stocks cling to gains as Fed taper worries ease

(Reuters) - A bounce in China's tech sector led Asian stocks higher on
Tuesday and markets were also cheered by positive U.S. vaccination news and
easing worries about an imminent tapering of stimulus by the Federal
Reserve.

 

Nasdaq and S&P 500 futures both rose 0.15%, while European stocks markets
were set for a strong opening, with Euro Stoxx 50 futures up 0.19% and
German DAX futures gaining 0.16%.

 

The dollar was licking its wounds after its sharpest one- day fall since
May, which spurred a 5% rally in oil prices on Monday.

 

Spiking COVID-19 infections caused by the highly contagious Delta variant
have fuelled concerns about the recovery from the global health crisis.

 

"The market is hopeful that the Delta variant will prevent the Fed from
doing anything too aggressively or too soon," said Vasu Menon, senior
investment strategist at OCBC Bank Wealth Management.

 

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS)
rallied 1.3%, with Japan (.N225) and South Korean (.KS11) indexes jumping
1%. Australia shares (.AXJO) were up 0.2% and Taiwan stocks (.TWII) rose
0.6%.

 

"Clearly, this tug of war will not end anytime soon. But the silver lining
is that there is cautious optimism in the market and there's also a lot of
liquidity waiting on the sidelines," said Menon.

 

Data overnight showed strong albeit slowing services and manufacturing
activity in Europe while business activity growth in the United States
slowed for a third straight month as the spread of the Delta virus variant
took a toll. read more

 

Chinese markets (.CSI300) advanced 1.1%, with technology stocks (.HSTECH)
extending their recovery after enduring a pummelling in recent weeks on
regulatory worries.

 

Wall Street's strength underpinned sentiment in Asia. The Nasdaq (.IXIC)
closed at a record high on Monday after the U.S. Food and Drug
Administration granted full approval to the COVID-19 vaccine developed by
Pfizer (PFE.N) and BioNTech, a move that could accelerate inoculations in
the United States. read more

 

Global markets took a beating last week on worries the Fed is edging closer
to tapering its stimulus, with Asia's main index tumbling 4.8% to be down 3%
for the year.

 

The improved sentiment overnight drove the dollar down more than 1% against
its Australian and Canadian counterparts as well as the Norwegian crown and
Swedish crown.

 

"A positive risk backdrop has pushed flows out of the dollar," said Chris
Weston, head of research at brokerage Pepperstone in Melbourne, adding that
positive analyst commentary around oil and cyclical stocks had also helped
the broad mood.

 

The dollar rose 0.1% against the yen to 109.79 . The euro was down 0.0% on
the day at $1.1741, having lost 1.1% in a month, while the dollar index ,
which tracks the greenback against a basket of currencies of other major
trading partners, was up at 93.005.

 

Last week, the dollar index hit a nine-month high on bets the Fed would
start shifting away from its accommodative monetary policy, but that view
began to change on Friday when Dallas Fed President Robert Kaplan said he
might reconsider his hawkish stance if the virus harms the economy. read
more

 

Now, investors are less confident Fed Chair Jerome Powell's speech at
Jackson Hole this week will indicate a timeline for winding down the Fed's
bond-buying program.

 

The yield on benchmark 10-year Treasury notes rose to 1.2684%.

 

In commodities markets, Brent crude oil futures added 0.4% to $69 a barrel
after rallying more than 5% on Monday, as a weaker dollar and strong global
equities markets boosted crude following seven sessions of declines.

 

Gold prices eased but stayed above the key psychological level of $1,800.
[GOL/

 

The Thomson Reuters Trust Principles.

 

 

 

With holidays around the corner, Walmart starts last mile delivery service

(Reuters) - Walmart (WMT.N) on Tuesday launched a delivery service for other
merchants throughout the United States, an announcement that comes as goods
sellers scramble to secure deliveries ahead of the all-important holiday
shopping season.

 

Walmart has this year been trialing its first company-branded "last-mile"
delivery vans, taking a page out of Amazon's (AMZN.O) play book as
pandemic-led e-commerce demand pressures United Parcel Service (UPS.N),
FedEx (FDX.N) and the U.S. Postal Service.

 

Through its latest program, called Walmart GoLocal, Walmart will dispatch
workers from its Spark delivery network to merchants' stores to pick up
items and then deliver them to shoppers. Over the past year, the retailer
has doubled Spark's coverage to more than 500 cities, Walmart Chief
Financial Officer Brett Biggs said last week on an earnings call.

 

"We were looking at different potential revenue streams, ways to
commercialize the capabilities and scale that Walmart has - and so we'll
think about what that means as this program unfolds," said Tom Ward, senior
vice president of Walmart's U.S. last mile business.

 

Walmart declined to give specifics about the program's fee structure, but
said it would be "competitively priced."

 

Amazon.com, the world's no.1 online retailer, delivers packages via a
same-day service called Flex and contracts with van fleets that drop parcels
on doorsteps.

 

Walmart's move comes as traditional carriers are looking at another chaotic
holiday season that, like last year, will see them struggling with more
packages than can be delivered.

 

During the holiday peak season, there are expected to be some 5 million more
parcels per day seeking delivery than providers able to handle that demand,
UPS Chief Executive Officer Carol Tomé told analysts in July.

 

The company, which delivers packages for both Amazon and Walmart, recently
said it was exploring super-fast local delivery apart from the pricey
express deliveries offered by the company and rival FedEx.

 

The Thomson Reuters Trust Principles.

 

 

 

Delta blow knocks wind out of Asia's economic recovery

(Reuters) - Asia's robust economic recovery from last year's coronavirus low
is losing momentum as a surge in COVID-19 cases sees shops empty again and
factories close, dimming prospects for corporate profit growth after a
blockbuster half year.

 

The rapid spread of the highly infectious Delta variant of the novel
coronavirus and low vaccination rates have caught much of the region
off-guard, especially in emerging markets, even as economies in Europe and
North America reopen.

 

"It's clear that economies across the region are suffering more from
COVID-19 than they previously did. The biggest factor is that Asia is poorly
vaccinated," said Rob Carnell, Asia-Pacific head of research at ING in
Singapore.

 

While year-on-year corporate and economic indicators continue to show strong
recovery, flattered by comparisons with 2020's sharp declines,
quarter-on-quarter indicators reveal flagging momentum.

 

 

Asia's biggest firms are likely to post their first quarter-on-quarter
profit decline in six quarters in July-September, falling 6.19%, showed a
Reuters calculation based on Refinitiv Eikon analyst data of 1,069 companies
with market capitalisation of at least $1 billion.

 

Reuters Graphics

"There's no mistake there will be a slowdown in the third quarter," said
Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan
Stanley Securities in Tokyo.

 

In the near-term, much depends on vaccination progress in Southeast Asia - a
major production base - and whether China takes extra steps to support its
economy, Fujito said.

 

 

Vehicle sales in China, the world's second-largest economy, slipped 11.9% in
July versus the same month last year, falling for a third consecutive month
amid virus outbreaks and a global semiconductor shortage which is curbing
output.

 

Toyota Motor Corp (7203.T), the world's largest automaker by sales volume,
said last week it would cut September production by 40% from its previous
plan due to the chip crunch, though it retained production and sales targets
for its fiscal year.

 

Regarding broader parts supply, Toyota executive Kazunari Kumakura said,
"The spread of the coronavirus and lockdowns in Southeast Asia had a major
impact."

 

SUPPLY HEADACHES

 

In Southeast Asia, soaring COVID-19 cases and subsequent lockdown measures
have hit economic activity in both the services and manufacturing sectors.

 

Factory activity in the region contracted in July at the fastest pace since
June last year, IHS Markit data showed.

 

"That's quite a strong signal that economic momentum in Southeast Asia will
slow in the third quarter," said Rajiv Biswas, Asia-Pacific chief economist
at IHS Markit in Singapore.

 

Delta outbreaks in Southeast Asia have caused supply chain headaches for
many of the world's largest manufacturers, many of which rely on auto parts
and semiconductors made in low-cost bases such as Thailand, Vietnam and
Malaysia.

 

Mitsubishi Motors Corp (7211.T) Chief Financial Officer Koji Ikeya said the
COVID-19 resurgence will depress demand, the chip shortage would have a
lengthy impact on production, and prices of steel and other materials are
set to rise.

 

"Because of those risks, the environment surrounding us remains unstable,"
Ikeya said.

 

BASE EFFECT

 

In Malaysia and Vietnam, lockdown measures and cases of infection have
forced factories to suspend operations.

 

"Of course, governments are trying to put in place better protection for
essential workers ... for example, giving them priority for vaccination,"
said IHS Markit's Biswas.

 

The extent of any economic slowdown in Asia will not be fully known until
governments release third-quarter gross domestic product (GDP) estimates
later this year.

 

Asian economies that were moving from a state of relative openness to
lockdown will probably see their GDP contract quarter-on-quarter, said ING's
Carnell.

 

ING has already trimmed its growth forecasts for Thailand, Malaysia,
Indonesia, the Philippines and Australia, he said.

 

"You're seeing 30-40% (year-on-year) export growth in many cases but you've
got very strong base effects working through those things," Carnell said.

 

The Thomson Reuters Trust Principles.

 

 

Banco Santander unit to buy out U.S. consumer business for $2.5 bln

(Reuters) - Santander's U.S. business is to buy the minority stake in its
consumer unit it doesn't already hold for around $2.5 billion, a slightly
higher price than it agreed to pay in July.

 

The deal values the entire Santander Consumer unit in the United States at
$12.7 billion, Santander said in a statement.

 

The offer of $41.5 per share for to buy out the around 20% in its U.S.
consumer business represents an increase of 6.4% compared to the $39 per
share or $2.36 billion it had offered originally to pay.

 

Santander also said Tuesday's offer price represents a premium of about 14%
to the company's last close on July 1, when the deal was first announced.

 

At 0755 GMT shares in Santander were down 0.44% compared to a slight fall of
0.1% for the Dow Jones banking European index (.SX7P).

 

Santander has been trying to consolidate some of its businesses under
tighter control. Earlier this year, it offered to buy back the minority
stake in its Mexican business that it did not already own, having taken full
control of it two years earlier when it was delisted.

 

Santander said the deal would have a negative capital impact of 10 basis
points at the group's core tier one capital ratio and would be accretive to
its earnings per share by approximately 3% in 2022.

 

Santander ended with a core tier-1 fully loaded capital ratio of 11.7% at
the end of June, from 11.85% three months earlier. read more

 

Spanish investment firm Alantra said the impacts indicated by Santander were
roughly in line with their estimates and is part of the euro zone second
biggest bank in terms of market value to allocate more capital to units with
higher profitability margins within the group.

 

A spokesman for Santander said the transaction would also allow it to manage
the business by customer segments in line with their US peers, and would
also have a positive impact on the group's earnings per share and its return
on tangible equity ratio, a measure of profitability.

 

The transaction has been unanimously approved by the boards of both the
companies and is expected to close by late October or in the fourth quarter
of 2021.

 

The Thomson Reuters Trust Principles.

 

 

Chinese automaker Changan aims to sell 3 million cars annually in 2025

(Reuters) - China's Changan (000625.SZ) aims to sell 3 million vehicles a
year in 2025, and 4.5 million annually in 2030, its chairman Zhu Huarong
said on Tuesday.

 

Zhu said 35% of its sales in 2025 will be new energy vehicles (NEVs),
including battery electric, plug-in hybrid and hydrogen fuel-cell vehicles.
Sixty percent of its sales in 2030 will be NEVs.

 

Sales outside China will account for 30% of its business in 2030, Zhu added.
Changan, which operates a joint venture with Ford Motor (F.N), sold 2
million vehicles last year.

 

Chongqing-based Changan, which is developing electric vehicles (EV) with
Huawei Technologies (HWT.UL) and battery maker CATL (300750.SZ), plans to
invest 150 billion yuan ($23.14 billion) in the smart electric vehicle
industry in the next five years.

 

China, the world's biggest auto market, is accelerating development of
electric vehicles to improve vehicle technologies and combat pollution.
Authorities expect 20% of overall sales in 2025 will be NEVs.

 

Changan's local rival Geely (0175.HK)aims to sell 3.65 million cars a year
in 2025 while Great Wall (601633.SS)is targeting 4 million units sales
annually then.

 

($1 = 6.4818 Chinese yuan renminbi)

 

The Thomson Reuters Trust Principles.

 

 

 

German consumers, state spending drive Q2 economic recovery

(Reuters) - The German economy grew more than expected in the second quarter
as the easing of COVID-19 curbs spurred consumers to dip into record savings
piled up during the winter lockdown and the state pressed on with a huge
debt-financed stimulus push.

 

Gross domestic product grew an adjusted 1.6% on the quarter, the Federal
Statistic Office said on Tuesday, up from its previous estimate of 1.5% and
following a revised first quarter contraction of 2%.

 

On the year, Europe's largest economy expanded by a calendar-adjusted 9.4%
in the second quarter, leaving economic activity 3.3% below the pre-crisis
levels of the fourth quarter of 2019.

 

Private consumption grew by 3.2% between April and June, contributing 1.6%
percentage points to overall growth and pushing the savings rate down to
16.3%. In the first quarter, when shops, bars and restaurants were closed
under Germany's lockdown, that rate hit a record high of 22%.

 

Public consumption expanded 1.8%, contributing 0.4% to the overall growth
rate.

 

State spending to cushion the impact of the coronavirus crisis, financed
with unprecedented new borrowing, blew a 80.9 billion euro ($95 billion)
hole in the public finances in the first half of the year, the statistics
office said.

 

This equated to a public sector deficit of 4.7% of GDP, the largest in 26
years and what Carsten Brzeski from ING Bank termed "the downside of the
rapid economic recovery."

 

The stimlus should help lift the economy back to pre-crisis levels before
the end of 2021 but will leave the government that emerges from next month's
federal election with a heavy burden to shoulder, Brzeski said.

 

Germany's quarter-on-quarter GDP growth compared with a second quarter euro
zone average of 2% and growth of 0.9%, 2.7% and 2.8% respectively the bloc's
next biggest economies, France, Italy and Spain.

 

($1 = 0.8517 euros)

 

The Thomson Reuters Trust Principles.

 

 

Malawi: Mzuzu City Council Seals Mbc Offices Over K746, 000 Unpaid Rentals

Mzuzu City Council (MCC) has sealed offices of the state broadcaster, Malawi
Broadcasting Corporation (MBC) at Kaning'ina in Mzuzu, over unpaid rentals.

 

The council chairperson for the Finance Committee, Hiwett Mkandawire, said
owes them K746, 000 in ground rentals.

 

Mkandawire disclosed that the exercise will be extended to all companies
with outstanding rental balances.

 

MCC is struggling to collect enough revenue for its operation and the
campaign is aimed at recovering K1.5 billion that some city landlords are
owing it.-Nyasa Times.

 

 

Egypt: Sisi On Sada El Balad Channel - Egyptian State Has Taken Serious
Steps for Education Development

President Abdel Fattah El Sisi said on Monday 23/8/2021 if the population
growth continues to increase in this way, the Egyptians' living conditions
will not change significantly, emphasizing the importance of raising the
citizens' awareness about the comprehensive concept of the population growth
issue.

 

In a phone call with "Salet el Tahrir" [Newsroom] TV show, broadcast on Sada
El Balad channel, Sisi added that the State has taken serious steps as
regards a real development in education.

 

The president said parents seek to see their sons and daughters joining
certain faculties, disregarding the available job opportunities after
graduation.

In this regard, President Sisi said the Egyptian State gives priority to the
media and culture, noting that the State will support any work of art that
aims to renew the Egyptian spiritual discourse.

 

He added that the State is ready to provide huge support for artistic works
that help raise the Egyptians' awareness.

 

President Sisi expressed his support for screenwriter Abdel Rehim Kamal in
light of his meaningful historical and religious works.

 

"What you have been presenting reflects a great deal of knowledge, as well
as intellectual and cultural sophistication," President Sisi directed his
words at Kamal.

 

Meanwhile, the president said the State needs years to overcome its
challenges.

 

President Sisi called on screenwriter Abdel Rehim Kamal to introduce a work
of art that is meant to "build real awareness", in which talented actors
shall take part. He urged Kamal to make this project as soon as possible.

 

The president reiterated his support for any work of art that aims to build
real awareness, including religious awareness.

 

He added that there are several cases that can be addressed with a view to
protecting Egypt's male and female youths, and helping them gain
understanding of what is going on around them.

 

Meanwhile, Sisi warned of attempts to target and destroy countries, giving
an example of Afghanistan, which he said, is different now from how it had
been 50 years ago.-Egypt Online.

 

 

 

Nigeria: FAAN Moves to Enhance Airport Facilitation

The Federal Airports Authority of Nigeria (FAAN) has commenced a move to
bridge infrastructure gaps at the nation's busiest airports, the Murtala
Mohammed International Airport (MMIA), Lagos, and the Nnamdi Azikiwe
International Airport (NAIA), Abuja.

 

The agency stated that equipment to address recent challenges in airport
operations and facilitation have arrived the country and are now being
installed.

 

Daily Trust reports that this is coming against the backdrop of recent
complaints from airline passengers over slow facilitation at the airports.

 

A passenger recently went on social media to lament that he was given a
handwritten boarding pass at the MMIA.

 

But the General Manager, Corporate Affairs of FAAN, Mrs Henrietta Yakubu,
disclosed yesterday that recent challenges would soon be a thing of the
past.

 

In a statement, she said 15 additional security screening machines had been
procured for immediate deployment to the General Aviation Terminal (GAT) of
the Murtala Mohammed International Airport, Lagos.

 

She said, "The authority is using this opportunity to appeal to all
stakeholders to please bear with us while the installation would last, as
all hands are on deck to ensure speedy completion of the project."-Daily
Trust.

 

 

 

Tanzania: DSE Turnover Reaches 74bn/ - Year to Date

EQUITIES continue to rally the market as the Tanzania Share Index (TSI)
gains 4.45 per cent from the start of the year to date, largely attributed
to the increase in prices of CRDB, DSE, TPCC, TCCL and NICO.

 

Market turnover indicates how much trading activity took place on a given
business day in the market as a whole, the Dar es Salaam Stock exchange
equity trading activities has stemmed 74bn/-transacted between investors
from the start of the year to 19th August 2021.

 

Higher turnover in a stock indicates better liquidity which means that it is
easier to sell the stock in the market. Stocks that recorded turnover higher
than 1.0bn/- in the period include: CRDB 12.35bn/-, DSE 1.67bn/-, NMB
18.21bn/-, TBL 19.38bn/-, TPCC 12.57bn/- and Voda 4.7bn/-.

All sectors posted gains during the year as the stock market performance was
quite broad-based. Industry and allied was the best-performing sector,
trading over 35.29bn/- spurred by stable yields. Banking came in second,
trading over 30.56bn/- spurred by good 2020 end of year financial results.
Investors continued the broad trend of rotation towards value stocks and
large-cap stocks during the period.

 

Why is stock market liquidity important?

 

Liquidity describes the extent to which an asset can be bought and sold
quickly and at stable prices. In simple terms it is a measure of how many
buyers and sellers are present, and whether transactions can take place
easily. If there are only a few market participants, trading infrequently,
it is said to be an illiquid market or to have low liquidity.

Usually, liquidity is calculated by taking the volume of trades. As
indicated above total turnover for the Dar es Salaam Stock market for
locally listed stocks was 74bn/-.

 

The Dar es Salaam stock exchange has shown high levels of liquidity arising
due to significant levels of trading activity owing to high supply and
demand for stocks, as it is easier to find a buyer or seller. Most stocks
that have traded during the period include ones that have announced
dividends as investors are looking to cash in on equity returns as the fixed
income market continues to suffer from low yields.

 

Key drivers for the stock market growth are:

 

(1) Stronger earnings expectation - We expect stronger earnings expectation
in the Industry & Allied (IA) Banks, Finance & Investment sectors to
stimulate demand for stocks.

 

(2) Increased foreign investor participation - we expect the recovery and
stable outlook of the Tanzanian currency supported by improving economic
conditions to boost investor confidence in the stock market and create more
demand for stocks.

>From a valuation perspective, Industry & Allied (IA) Banks, Finance &
Investment the banking sectors are highly attractive with some key listed
companies in the sectors trading at attractive metrics.

 

Enduring good performance of the stock market, our outlook appears to lean
favorably as we expect the stock market indices to replicate positive growth
trends as we head into September. High demand for CRDB, DSE, TCCL and TPCC
will likely push their respective prices up in September.

 

Positive economic momentum

 

Expansive monetary policy by the central bank will accelerate economic
growth and improve market liquidity; a low lending interest environment will
lower borrowing cost making equities the most attractive option in risk
assets. We expect the remainder of 2021 to be characterized by sector and
stock selection as the market transitions to an economic expansion and
stronger focus on valuations. Furthermore, equities in the stock market
continue to make new highs as The Tanzania Share Index (TSI) is up by 4.45
per cent YTD with individual stocks such as CRDB up by 33.3 per cent and
TPCC up by 56 per cent YTD and we continue to see improving economic
environment. Expansive monetary policy by the central bank will accelerate
economic growth and improve market liquidity.

 

Low Treasury bond yields

 

The yield curve, typically represented by the 20-year and the 2-year
Treasury yield will continue to fall. A steep yield curve in the primary
Treasury bond market often precedes a period of economic expansion. We will
continue to see a low yield environment as the central bank continues to
implement expansive monetary policy. We expect the central bank to remain
cautious and diligent about maintaining expansionary policy.

 

The analysis is compiled by Zan Securities, a capital markets and securities
authority licensed dealer and a member of the Dar es Salaam Stock Exchange
(DSE). It is currently one of the leading stock market dealers in terms of
modern ICT infrastructure and branch network from Zanzibar and Tanzania
Mainland.-Daily News.

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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

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

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

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

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

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

Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2021

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


ART

PPC

Dairibord

 


Starafrica

Fidelity

Turnall

 


Medtech

Zimre

Nampak Zimbabwe

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


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

 


 

 


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

 


 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210824/c2bbee3e/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210824/c2bbee3e/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 39375 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210824/c2bbee3e/attachment-0002.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 22328 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210824/c2bbee3e/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210824/c2bbee3e/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65576 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210824/c2bbee3e/attachment-0001.obj>