A digital copy of the BH24 (05 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
The document provides an assessment of the macroeconomic and sectoral impact of India's 2016 demonetization announcement. In 3 sentences: It finds demonetization will negatively impact near-term GDP growth but improve liquidity and lower rates. Several sectors like real estate, autos, discretionary spending will see negative effects due to their reliance on cash transactions. However, the banking system and sectors less dependent on cash like IT and pharma may benefit from increased deposits and improved liquidity conditions over the medium term.
The current situation of overnight demonetisation of 500 and 1000 Rupee notes has created havoc in the country.
In one of the historical reforms of the economy of India, Rs 500 and Rs 1,000 notes were banned effective on 9th November , Tuesday midnight. This was one of the boldest movements by the Government of India.Overall, this scheme is going to impact the businesses, the common man, and financial institutions – all at some level or the other.
Demonitization of Rs 500 & 1000 notes from Indian EconomyRight Horizons
Demonetization is like changing engine oil in an economy.
- It provides short-term hardship but long-term benefits like faster economic growth, expanding the tax base, reducing black money and inflation.
- Most currency in circulation is in 500 and 1000 rupee notes that were demonetized.
- Demonetization impacts different sectors depending on their cash usage, from positive impacts on infrastructure to temporary impacts on industries like pharma and banks.
Balanced scorecard implementation- Beyond Demonitisation n GST programme!bs srikanth
A guide to determine and link various objectives/ initiatives to make India a modern nation where there is opportunity for all and Governance delivers for all!
Charade & Shadows of India's Currency Remonetization 2016Shantanu Basu
Briefly analyzes India's currency remonetization and concludes that there murky details in the background that do not synch with the stated official objectives.
This document discusses the effects of India's 2016 demonetization initiative. It begins with an overview and definitions of demonetization. It then discusses the historical precedents of demonetization in other countries. The document outlines the reasons given by the Indian government for demonetization, including reducing black money, fake currency, and pushing for digital transactions. It notes both positive impacts like increased tax collections but also pitfalls like unpreparedness and negative effects on small businesses and jobs. It questions whether demonetization actually achieved its goals of curbing black money and corruption.
Factsheet for Axis Mutual Fund- WishfinAnvi Sharma
The scheme aims to generate regular long term capital growth from a diversified portfolio of equity and equity related securities. The Scheme Will invest in companies with strong growth & a sustainable business model.
The document provides an assessment of the macroeconomic and sectoral impact of India's 2016 demonetization announcement. In 3 sentences: It finds demonetization will negatively impact near-term GDP growth but improve liquidity and lower rates. Several sectors like real estate, autos, discretionary spending will see negative effects due to their reliance on cash transactions. However, the banking system and sectors less dependent on cash like IT and pharma may benefit from increased deposits and improved liquidity conditions over the medium term.
The current situation of overnight demonetisation of 500 and 1000 Rupee notes has created havoc in the country.
In one of the historical reforms of the economy of India, Rs 500 and Rs 1,000 notes were banned effective on 9th November , Tuesday midnight. This was one of the boldest movements by the Government of India.Overall, this scheme is going to impact the businesses, the common man, and financial institutions – all at some level or the other.
Demonitization of Rs 500 & 1000 notes from Indian EconomyRight Horizons
Demonetization is like changing engine oil in an economy.
- It provides short-term hardship but long-term benefits like faster economic growth, expanding the tax base, reducing black money and inflation.
- Most currency in circulation is in 500 and 1000 rupee notes that were demonetized.
- Demonetization impacts different sectors depending on their cash usage, from positive impacts on infrastructure to temporary impacts on industries like pharma and banks.
Balanced scorecard implementation- Beyond Demonitisation n GST programme!bs srikanth
A guide to determine and link various objectives/ initiatives to make India a modern nation where there is opportunity for all and Governance delivers for all!
Charade & Shadows of India's Currency Remonetization 2016Shantanu Basu
Briefly analyzes India's currency remonetization and concludes that there murky details in the background that do not synch with the stated official objectives.
This document discusses the effects of India's 2016 demonetization initiative. It begins with an overview and definitions of demonetization. It then discusses the historical precedents of demonetization in other countries. The document outlines the reasons given by the Indian government for demonetization, including reducing black money, fake currency, and pushing for digital transactions. It notes both positive impacts like increased tax collections but also pitfalls like unpreparedness and negative effects on small businesses and jobs. It questions whether demonetization actually achieved its goals of curbing black money and corruption.
Factsheet for Axis Mutual Fund- WishfinAnvi Sharma
The scheme aims to generate regular long term capital growth from a diversified portfolio of equity and equity related securities. The Scheme Will invest in companies with strong growth & a sustainable business model.
The article discusses the Zimbabwe Consolidated Diamond Company (ZCDC), which has been operating without a proper legal framework. The permanent secretary in the Ministry of Mines admitted that unlike other state entities, no act of parliament established the ZCDC. It was instead registered as a company under the Companies Act. There are also concerns about the improperly constituted board of the ZCDC and some controversial decisions that have been made. The parliamentary committee questioned the legitimacy of the board's actions in firing employees and replacing them.
The Union Budget 2015 proposed several key reforms including:
(a) Reducing the corporate tax rate to 25% over the next four years while withdrawing exemptions, (b) Introducing a goods and services tax (GST) planned for April 2016, and (c) Enacting a new bankruptcy code and financial sector reforms such as a public debt management agency. The budget also aimed to boost investment, ease business regulations, and increase spending on infrastructure and social programs through measures like setting up a national investment fund. However, the budget faced some criticism for not providing enough relief for individuals and leaving many still wanting more substantial reforms.
Dej-Udom & Associates Newsletter - January 2014Paul Brailsford
The document summarizes economic news from several Southeast Asian countries. It reports that Thailand's Commerce Ministry wants border provinces to benefit from increased trade and tourism opportunities resulting from the ASEAN Economic Community. It also discusses Laos revising its mining policy to obtain more revenue from concessions, Vietnam issuing a decree on foreign loans, and Singapore strengthening its anti-money laundering rules. Additionally, it covers Malaysia relaxing restrictions on foreign automakers, Myanmar establishing special economic zones to attract investors, and disruptions to work permit processing in Myanmar due to political demonstrations.
Demonetization has been a bold step of our present Government. The real result of it on our nation will be seen in coming year. But here is my study on immediate effects of demonetization on various sectors. I hope it helps..
Prime Minister Narendra Modi announced that Rs 500 and Rs 1000 banknotes would no longer be legal tender as of midnight. This was an act of demonetization in India aimed at combating black money and corruption. Demonetization involves removing a currency's status as legal tender and replacing it with a new currency. Previous examples of demonetization in other countries are discussed.
An article on Role of Company Secretaries in GST Era was published in Souvenir of 43rd National Convention of Institute of Company Secretaries of India. Article was contributed by Team : Lex Bolster Global LLP.
The implementation of GST will help the hospitality and tourism industry by reducing costs for customers, harmonizing taxes, and reducing business transaction costs. Under GST, the hospitality sector stands to benefit from standardized uniform tax rates and easier input tax credit utilization. Key rates include 0% for hotels below ₹999, 12% for ₹1000-₹2499, 18% for ₹2500-₹7499, and 28% for above ₹7500. Non-AC restaurants serving alcohol will be taxed at 18%. While economy air travel will be cheaper at 5%, business class tickets will be dearer at 12%. Restaurants expect costs and prices to decrease due to lower
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
A study on understanding the concept of demonetization with reference to MBA ...Syed Valiullah Bakhtiyari
This research is fully based on primary data and it has been collected first hand by the researcher itself, since the respondents were students pursuing master's in business administration it becomes very interesting to know the new age jargon of demonetization.
FINANCE BILL 2012 – MAJOR ISSUES AND CHALLENGESNeha Sharma
The Finance Bill 2012 was presented in the Lok Sabha recently and is under consideration of the Parliament. A very heated debate is happening on several new provisions and issues arising there from.
Demonetization : The Real Effects, Flashback #DeMo 2016, Reasons for Demonetization, Percentage share of denominations before Demonetization, Purpose/Need for Demonetization, Pros & Cons of Demonetization, Benefits of Demonetization (Direct & Indirect), Impact of Demonetization (Short & Long Term), Effect of Demonetization on Indian Economy, Hidden Facts, Reaction on Social Media, Survey @ Local Circle, Impact on Economy – Sector wise, Through the Glasses of Pessimism, Reality Check (example of effect of demonetization), Conclusion.
The Credit Reference Bureau of Zimbabwe is set to be fully operational by July 31st, with a Czech firm having made significant progress in setting up the necessary soft infrastructure at a cost of $1.8 million to the Reserve Bank of Zimbabwe. The CRB will enhance borrower verification and help banks assess credit risk and reduce non-performing loans. A number of consultative meetings have been held with banks to define the necessary data to be collected and reports generated by the new system.
The document summarizes news from Mongolia's Business Council newsletter. It discusses optimism from an investment forum highlighting Mongolia's growth. It also mentions a bank issuing bonds, a mining company urging shareholders to accept an offer, Canadian miners seeing potential in Mongolia, and a company submitting a uranium reserve calculation to the Mongolian government for approval. Politics and the economy were also briefly touched on.
The document discusses India's recent demonetization of Rs 500 and Rs 1000 currency notes. It provides background on previous instances of demonetization in India in 1946 and 1978. It outlines the rationale given by the Prime Minister for demonetization, including tackling black money, corruption, fake currency, and terrorist financing. It also discusses the short-term economic impacts and support and criticism of the move from various groups.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
This document discusses the impact of Goods and Services Tax (GST) implementation on India's hospitality sector. It notes that hospitality is a fast-growing industry that includes food, lodging, and travel. GST is a destination-based value-added tax that aims to replace existing indirect taxes. For hotels, GST's 18% tax rate on room tariffs could increase costs for higher-priced hotels but reduce costs for others. While GST may streamline processes, the hospitality industry faces increased technological and compliance costs as well as higher taxes than competitors in countries like Singapore and Japan. Overall, the effects of GST on the hospitality industry are mixed.
Evaluation of Demonetisation (8 Nov 2016) in India to Curb Corruption and T...Independent Researcher
This document evaluates India's 2016 demonetization policy to curb corruption and terrorism. It provides background on India's previous demonetizations in 1946 and 1978. 86% of currency in circulation was demonetized, amounting to Rs. 15.44 lakh crore. Banks collected over Rs. 14.9 lakh crore in deposits. While demonetization aims to reduce black money, corruption, and terrorism, critics argue it does not address the root causes of money laundering and black money generation. The policy impacts cash-dependent sectors negatively in the short-run but may boost the formal economy long-term through increased transparency, tax collection, and digital payments. Overall, demonetization's complete benefits may only
Standard Chartered Bank plans to launch mobile and online banking platforms in 8 African countries including Zimbabwe in the first half of 2016. The bank aims to grow long-term retail banking revenues in Africa 3-4 times faster than regional economic growth. This strategy contrasts with European rivals retreating from Africa due to falling commodity prices and weak currencies. StanChart is expanding its physical presence as well by adding branches in Nigeria, as it seeks to protect and grow its market share on the continent.
El documento explica las diferencias entre la interpretación y la traducción. La interpretación implica la transmisión oral y en tiempo real de un mensaje de una lengua a otra, mientras que la traducción generalmente se refiere a la transmisión escrita. Dentro de la interpretación, se distinguen la interpretación simultánea, donde el intérprete traduce al mismo tiempo que el orador habla, y la interpretación consecutiva, donde el intérprete traduce después de que el orador haya terminado cada parte del discurso.
The article discusses the Zimbabwe Consolidated Diamond Company (ZCDC), which has been operating without a proper legal framework. The permanent secretary in the Ministry of Mines admitted that unlike other state entities, no act of parliament established the ZCDC. It was instead registered as a company under the Companies Act. There are also concerns about the improperly constituted board of the ZCDC and some controversial decisions that have been made. The parliamentary committee questioned the legitimacy of the board's actions in firing employees and replacing them.
The Union Budget 2015 proposed several key reforms including:
(a) Reducing the corporate tax rate to 25% over the next four years while withdrawing exemptions, (b) Introducing a goods and services tax (GST) planned for April 2016, and (c) Enacting a new bankruptcy code and financial sector reforms such as a public debt management agency. The budget also aimed to boost investment, ease business regulations, and increase spending on infrastructure and social programs through measures like setting up a national investment fund. However, the budget faced some criticism for not providing enough relief for individuals and leaving many still wanting more substantial reforms.
Dej-Udom & Associates Newsletter - January 2014Paul Brailsford
The document summarizes economic news from several Southeast Asian countries. It reports that Thailand's Commerce Ministry wants border provinces to benefit from increased trade and tourism opportunities resulting from the ASEAN Economic Community. It also discusses Laos revising its mining policy to obtain more revenue from concessions, Vietnam issuing a decree on foreign loans, and Singapore strengthening its anti-money laundering rules. Additionally, it covers Malaysia relaxing restrictions on foreign automakers, Myanmar establishing special economic zones to attract investors, and disruptions to work permit processing in Myanmar due to political demonstrations.
Demonetization has been a bold step of our present Government. The real result of it on our nation will be seen in coming year. But here is my study on immediate effects of demonetization on various sectors. I hope it helps..
Prime Minister Narendra Modi announced that Rs 500 and Rs 1000 banknotes would no longer be legal tender as of midnight. This was an act of demonetization in India aimed at combating black money and corruption. Demonetization involves removing a currency's status as legal tender and replacing it with a new currency. Previous examples of demonetization in other countries are discussed.
An article on Role of Company Secretaries in GST Era was published in Souvenir of 43rd National Convention of Institute of Company Secretaries of India. Article was contributed by Team : Lex Bolster Global LLP.
The implementation of GST will help the hospitality and tourism industry by reducing costs for customers, harmonizing taxes, and reducing business transaction costs. Under GST, the hospitality sector stands to benefit from standardized uniform tax rates and easier input tax credit utilization. Key rates include 0% for hotels below ₹999, 12% for ₹1000-₹2499, 18% for ₹2500-₹7499, and 28% for above ₹7500. Non-AC restaurants serving alcohol will be taxed at 18%. While economy air travel will be cheaper at 5%, business class tickets will be dearer at 12%. Restaurants expect costs and prices to decrease due to lower
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
A study on understanding the concept of demonetization with reference to MBA ...Syed Valiullah Bakhtiyari
This research is fully based on primary data and it has been collected first hand by the researcher itself, since the respondents were students pursuing master's in business administration it becomes very interesting to know the new age jargon of demonetization.
FINANCE BILL 2012 – MAJOR ISSUES AND CHALLENGESNeha Sharma
The Finance Bill 2012 was presented in the Lok Sabha recently and is under consideration of the Parliament. A very heated debate is happening on several new provisions and issues arising there from.
Demonetization : The Real Effects, Flashback #DeMo 2016, Reasons for Demonetization, Percentage share of denominations before Demonetization, Purpose/Need for Demonetization, Pros & Cons of Demonetization, Benefits of Demonetization (Direct & Indirect), Impact of Demonetization (Short & Long Term), Effect of Demonetization on Indian Economy, Hidden Facts, Reaction on Social Media, Survey @ Local Circle, Impact on Economy – Sector wise, Through the Glasses of Pessimism, Reality Check (example of effect of demonetization), Conclusion.
The Credit Reference Bureau of Zimbabwe is set to be fully operational by July 31st, with a Czech firm having made significant progress in setting up the necessary soft infrastructure at a cost of $1.8 million to the Reserve Bank of Zimbabwe. The CRB will enhance borrower verification and help banks assess credit risk and reduce non-performing loans. A number of consultative meetings have been held with banks to define the necessary data to be collected and reports generated by the new system.
The document summarizes news from Mongolia's Business Council newsletter. It discusses optimism from an investment forum highlighting Mongolia's growth. It also mentions a bank issuing bonds, a mining company urging shareholders to accept an offer, Canadian miners seeing potential in Mongolia, and a company submitting a uranium reserve calculation to the Mongolian government for approval. Politics and the economy were also briefly touched on.
The document discusses India's recent demonetization of Rs 500 and Rs 1000 currency notes. It provides background on previous instances of demonetization in India in 1946 and 1978. It outlines the rationale given by the Prime Minister for demonetization, including tackling black money, corruption, fake currency, and terrorist financing. It also discusses the short-term economic impacts and support and criticism of the move from various groups.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
This document discusses the impact of Goods and Services Tax (GST) implementation on India's hospitality sector. It notes that hospitality is a fast-growing industry that includes food, lodging, and travel. GST is a destination-based value-added tax that aims to replace existing indirect taxes. For hotels, GST's 18% tax rate on room tariffs could increase costs for higher-priced hotels but reduce costs for others. While GST may streamline processes, the hospitality industry faces increased technological and compliance costs as well as higher taxes than competitors in countries like Singapore and Japan. Overall, the effects of GST on the hospitality industry are mixed.
Evaluation of Demonetisation (8 Nov 2016) in India to Curb Corruption and T...Independent Researcher
This document evaluates India's 2016 demonetization policy to curb corruption and terrorism. It provides background on India's previous demonetizations in 1946 and 1978. 86% of currency in circulation was demonetized, amounting to Rs. 15.44 lakh crore. Banks collected over Rs. 14.9 lakh crore in deposits. While demonetization aims to reduce black money, corruption, and terrorism, critics argue it does not address the root causes of money laundering and black money generation. The policy impacts cash-dependent sectors negatively in the short-run but may boost the formal economy long-term through increased transparency, tax collection, and digital payments. Overall, demonetization's complete benefits may only
Standard Chartered Bank plans to launch mobile and online banking platforms in 8 African countries including Zimbabwe in the first half of 2016. The bank aims to grow long-term retail banking revenues in Africa 3-4 times faster than regional economic growth. This strategy contrasts with European rivals retreating from Africa due to falling commodity prices and weak currencies. StanChart is expanding its physical presence as well by adding branches in Nigeria, as it seeks to protect and grow its market share on the continent.
El documento explica las diferencias entre la interpretación y la traducción. La interpretación implica la transmisión oral y en tiempo real de un mensaje de una lengua a otra, mientras que la traducción generalmente se refiere a la transmisión escrita. Dentro de la interpretación, se distinguen la interpretación simultánea, donde el intérprete traduce al mismo tiempo que el orador habla, y la interpretación consecutiva, donde el intérprete traduce después de que el orador haya terminado cada parte del discurso.
The document is a resume for Scott R. Jameson, who has over 20 years of experience in corporate event and tradeshow management. He is seeking a position that utilizes his skills in planning, executing, and managing marketing events. His experience includes managing national and international exhibitions and events, simultaneously handling multiple events of varying sizes, and developing relationships to maximize company exposure.
The Downieville Classic is a popular annual mountain bike race that draws around 3,000 attendees total, including 800 racers. The Slime Blob Tour booth promoted Slime tube sealants and tire products to about 200 people per day, or 800 total attendees. They performed demos of Slime Pro tubeless sealant and received positive feedback, especially regarding its performance compared to Stans sealant. Many influential people in the industry attend this sold-out event, making it a valuable one for the Slime Blob Tour to participate in annually.
El documento describe las diferentes etapas del sistema financiero. Comienza con la economía de autoabastecimiento donde cada familia producía lo que necesitaba para su propio consumo. Luego pasa a la economía de trueque donde se intercambiaban bienes y servicios sin el uso de dinero. Finalmente introduce la economía monetaria donde ciertos bienes pasan a ser usados como moneda para facilitar los intercambios entre productores y consumidores.
El documento describe el ambiente de trabajo de Windows, incluyendo elementos como el escritorio, iconos, barra de tareas, ventanas y cuadros de diálogo. Explica las características y componentes de las ventanas y cómo realizar acciones como mover, cambiar el tamaño, minimizar, maximizar y cerrar ventanas. También describe cómo salir y reiniciar el equipo de forma segura.
Systems centered training workshops stockholm 2014Erika Ekedal
The document summarizes Systems-Centered Training (SCT) workshops taking place in Stockholm, Sweden from January 20-23, 2014. SCT teaches skills like functional subgrouping for resolving conflicts, modifying noisy communication, and shifting from self-centered to systems-centered perspectives. The workshops will focus on building a systems-centered group using functional subgrouping, and applying SCT to support team development. Participants can choose between foundation and intermediate training levels. Registration information is provided.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms for those who already suffer from conditions like depression and anxiety.
The document discusses Korea's creative economy and its growth. It notes that the Korean government established the Korea Creative Content Agency in 2009 to help grow the country's content industry. The government also invests billions in startups and the creative economy budget. Korea's creative economy includes K-pop music, K-dramas, K-products from Samsung and Hyundai, and developing cultural tourism destinations like Nami Island. The creative industries have helped increase Korea's GDP from 10% in 1962 to 50% in 2012 and promote more foreign investment and tourism.
Laurie discovered belly dancing through a university class in 2002. She enjoyed it but had trouble finding further instruction until attending a belly dance festival with her friend Jodi. In 2004, Laurie and Jodi began regular classes together, with Jodi being a natural and Laurie enjoying the movement despite being clumsy. After a year they joined a performance troupe. Belly dancing has brought Laurie joy and close friendships over the years as she has continued dancing with some original troupe members. She finds inspiration in more experienced dancers and hopes to develop her skills and sassiness.
This document outlines Eduardo Di Bello's background and qualifications. It states that he is a leader, learner, and competitor from Panama who came to the US to follow his dreams of becoming an entrepreneur. It provides his contact information and lists strengths like being strategic, positive, and putting others first by providing ideas rather than criticism. It aims to portray him as someone who fights for his dreams and uses obstacles to grow.
Piura se encuentra en el norte del Perú y es conocida por sus playas y clima cálido. Algunas de sus playas más populares son Máncora, Colán y Cabo Blanco. La ciudad también alberga templos coloniales y pueblos artesanales. Su gastronomía es variada y destaca el cultivo del algodón y la algarrobina.
Messukeskus is Finland's leading event organizer and provider of venues for exhibitions, meetings, and congresses. It was founded in 1919 and hosts fairs, exhibitions, meetings, congresses, and celebrations. Messukeskus operates a 58,000 square meter facility in Pasila, Helsinki with 7 halls, 40 conference rooms, and over 4,400 seats in its largest hall. It focuses on corporate responsibility and sustainability in the events industry.
Guðbjörg Sandra Gunnarsdóttir is an Icelandic architect with a Master's degree in Quality Management from the University of Iceland and a BSc in Architectural Technology and Construction Management from VIA University College in Denmark. She currently works as a designer at Nordurorka in Akureyri, Iceland, where she is involved in power generation and distribution projects as well as technical drawings and land surveying. Her skills include AutoCAD, Revit, and Microstation.
The document outlines the Blob Tour 2013 events attended by Riley Kuhn and Matt Kacik to promote the Slime brand. The tour spanned from June to September 2013 and included various car shows, races, and auctions across California and Nevada, interacting with over 300,000 fans total. Dealer visits and social media engagement helped spread brand awareness. Recommendations were made to attend more bike races, visit additional states and dealers, and conduct directed market research for future tours.
El documento describe la distribución binomial y su historia. Jakob Bernoulli en el siglo XVII estudió los conceptos de probabilidad y azar y describió por primera vez la distribución binomial en su obra Ars Conjectandi. La distribución binomial mide el número de éxitos en una secuencia de n ensayos de Bernoulli independientes, cada uno con una probabilidad fija p de éxito.
Este documento describe el ambiente de trabajo de Windows, incluyendo elementos como el escritorio, iconos, barra de tareas, ventanas y cuadros de diálogo. Explica los componentes básicos de una ventana como la barra de título, menús, botones y barras de desplazamiento. También cubre cómo mover y cambiar el tamaño de las ventanas, y los tipos de cuadros de diálogo y sus componentes como cuadros de texto, listas y botones.
A digital copy of the Business News 24 (31 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (09 September edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
Hwange Colliery Company reported a substantial loss of $115 million for the 2015 fiscal year, much higher than the $37.8 million loss in the previous year. The large loss was mainly due to recognizing a $69.1 million liability to the Zimbabwe Revenue Authority (ZIMRA) covering the past six years. Administrative costs also increased substantially, in part due to adjusting for the ZIMRA liability. Going forward, the company expects a $7.5 million coal pre-financing facility to help implement a new business plan and increase monthly coal production targets.
A digital copy of the BH24 (04 December 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
Zimpapers, Zimbabwe's largest media group, reported an after-tax profit of $2.7 million for the full year ending December 31, 2015, compared to a $11.4 million loss in the previous year. This turnaround was due to cost cutting measures that reduced administrative costs by $6.4 million and selling/distribution costs by $3.7 million. Revenue remained flat at $40 million. The newspaper and commercial printing divisions contributed to the improved performance.
We are up to date with licence fee payments, says Telecel ZimbabweZimpapers Group (1980)
A digital copy of the Business News 24 (05 May 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (25 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (07 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (11 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news
A digital copy of the BH24 (30 November 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the BH24 (04 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (07 October edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (17 February 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the BH24 (29 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
Delta, a Zimbabwean beverages company, reported a 7% decline in revenue and a 12% decline in profit for the fiscal year ended March 31, 2016 compared to the previous year. Management attributed the lower performance to weak economic conditions in Zimbabwe that constrained consumer demand. Specifically, drought, cash shortages, delayed wages, and job cuts hurt demand for Delta's products. The company also faced increased competition from cheaper brands as consumers sought more affordable options. Delta's board declared a dividend but revenue, profit, and volume declined across the company's beer, sparkling beverages, and sorghum beer segments for the fiscal year.
A digital copy of the BH24, Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
Treasury directs ZINARA to disburse 70pc of funds for rehabilitationZimpapers Group (1980)
- The Zimbabwean equities market extended gains from the previous day, with the industrial index rising 1.32% to 95.28.
- Major stocks like Delta Beverages, Innscor, Econet, Colcom, CFI and Nampak saw share price increases, helping drive the overall market upward.
- Only Barclays and Old Mutual saw share price declines on the day.
- The mining index remained flat at 26.24 as several mining stocks stayed unchanged from their previous closing prices.
A digital copy of the BH24 (22 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
Similar to Ariston debt reduction plan edges closer (20)
Air Namibia is advertising new flight routes from Harare, Zimbabwe to Accra, Ghana and Lagos, Nigeria starting on June 29, 2018. Customers are encouraged to book flights soon to avoid disappointment as seats are selling out. Contact information is provided for booking individual flights or group fares by telephone, email, online, or through a travel agent.
In this edition, you will be enlightened on the cornerstone of international aviation which is the Bilateral Air Service Agreement, commonly referred to as BASA, Africa’s plan for a common airspace and taken on a tour of the Eastern Highlands and the new sky
The World Bank says Zimbabwe can use the Rapid Results Approach (RRA) to help expedite solutions to its current cash shortage problems. The RRA is a method used to accelerate organizational change through 100-day goal-setting. The government has completed two phases of an RRA program focused on improving ease of doing business. The World Bank country manager says Zimbabwe can transition more quickly to e-commerce by applying the RRA methodology to address cash shortages and encourage electronic payments. The article provides details on Zimbabwe's cash shortage challenges and measures already taken by the central bank to address the problem and incentivize electronic payments and exports.
Nigeria's central bank announced it will abandon its 16-month peg of the naira to the U.S. dollar and move to a "purely market-driven" system of foreign exchange trading starting next week. Economists estimate the naira's fair value under a float would be between 280 to 300 naira per dollar, compared to the current black market rate of around 370, and the change aims to ease severe dollar shortages caused by lower oil revenues. The central bank will still be able to inject dollars and influence the exchange rate within its foreign reserves, but will no longer target a specific
Nigeria's central bank announced it will abandon its 16-month peg of the naira to the U.S. dollar and move to a "purely market-driven" system of foreign exchange trading starting next week. Economists estimate the naira's fair value under a float is between 280 to 300 naira per dollar, compared to the current black market rate of around 370, and the change aims to ease severe dollar shortages caused by low oil prices. The central bank will still be able to inject dollars and influence the exchange rate within reserves, but no longer has an explicit target rate for the
The National Railways of Zimbabwe (NRZ) requires $400 million in short-term funding for recapitalization. This funding will go toward acquiring new machinery and rehabilitating existing infrastructure to increase the railway's carrying capacity from the current 3.4 million tonnes to 7.6 million tonnes. The funding will also be used to procure 15 new locomotives and 1000 new wagons, as securing this funding would allow NRZ to improve services, increase revenues, and return to profitability.
SeedCo, a listed seed producer in Zimbabwe, reported a 3% increase in profit after tax for the fiscal year ending March 31, 2016 compared to the previous year, despite challenges from drought, low commodity prices, and reduced government programs. The company's turnover remained unchanged at $96 million year-over-year. SeedCo was able to increase efficiency and offer competitive pricing, which helped increase its gross margin by 7% during the period. The company plans to focus on growing its ultra-early maize seed varieties to meet increasing demand given changing weather patterns.
Zimbabwe's corporate governance weaknesses have contributed to its poor ratings in international surveys, according to an official. Improving corporate governance could significantly boost Zimbabwe's rankings. The official noted that past governance failures have resulted in the current negative perceptions, and that while some methodology reservations exist, the ratings still factor into potential investors' considerations. The government is working to enhance corporate governance in the public sector through various initiatives.
The Confederation of Zimbabwe Industries has urged the government to introduce Local Content Regulation for all sectors of the economy in order to boost local production. The regulation would give preference to local producers over imports for some goods and services. It would also require manufacturers to include a minimum percentage of local inputs in their production. A CZI economist said the regulation could increase competitiveness by promoting local products first and supporting local employment and procurement.
Isabel dos Santos, the billionaire daughter of Angola's President, has been appointed as the new CEO of state energy firm Sonangol and has pledged to overhaul the company to improve efficiency and margins amid low oil prices. She plans to split Sonangol into three units and increase transparency to international standards in order to generate more revenue for Angola, which relies heavily on oil exports. Dos Santos aims to offset the "huge" economic impact of depressed oil prices through the reforms at Sonangol.
The Zimbabwe Flight Crews Association said that the government is not adequately protecting Air Zimbabwe and is instead licensing competitors to service the same routes as Air Zimbabwe, hurting its ability to compete; they argue the national airline should have first right of refusal on routes. Captain Ottis Shonai stated that new airlines have been given licenses to fly the same routes as Air Zimbabwe, which does not happen elsewhere, and that Air Zimbabwe needs route protection from the government as other national airlines receive.
Government has released $500,000 in funding to support the hosting of this year's Sanganai/Hlanganani World Tourism Expo in Bulawayo after the Zimbabwe Tourism Authority faced financial challenges and was contemplating postponing or cancelling the event. The acting ZTA chief executive said the funds will ensure the expo is a success. Over 160 local tourism companies and 28 international exhibitors from countries like Botswana, South Africa and India have registered to participate. International buyers from Europe, Asia, Africa, the Americas and the Middle East are also expected to attend the expo from June 16-18, 2016.
Fastjet Zimbabwe recorded $0.3 million in revenue since commencing operations in October 2015, with an operating loss of $4 million, as the new airline began flights between Harare, Victoria Falls, and Johannesburg. The performance in the first few months of operations was described as "encouraging" by Fastjet, with 91% of flights arriving on time. However, the Zimbabwe operation was not included in Fastjet's key performance indicators for 2015 as it only became operational in October.
- The Beitbridge Hotel in Zimbabwe, owned 40% by the National Social Security Authority (NSSA), has incurred over $2 million in losses since opening in 2014 and has now been closed by majority owner Rainbow Tourism Group.
- An audit before construction found the hotel would be loss-making, but NSSA insisted it proceed anyway. NSSA's investments are under scrutiny as costs for the Beitbridge Hotel ballooned from an initial $3 million budget to over $49 million.
- The closure puts focus again on NSSA's investment strategies that have put pensioners' funds at risk through apparent non-viable projects like the Beitbridge Hotel.
Tongaat Hulett's sugar production in Zimbabwe declined 7.4% to 412,000 tonnes for the year ending March 31, 2016. Sales also declined, falling to 403,000 tonnes compared to 491,000 tonnes the previous year. The company reported its Zimbabwe division's financial performance was negatively impacted by lower sugar production and export underperformance. Looking ahead, Tongaat Hulett forecast sugar production could rise up to 12% to 1.15 million tonnes in the new financial year depending on rainfall.
Industry, Finance ministries working on Zimbabwe tariff order for EPA Zimpapers Group (1980)
The Zimbabwean government is working to establish the necessary legal framework to fully implement an Economic Partnership Agreement (EPA) signed with the European Union in 2009, which establishes a free trade area between the EU and Zimbabwe. The EPA grants duty-free access for trade between the EU and Zimbabwe, and Zimbabwe is expected to progressively liberalize 80% of imports from the EU by 2022. Government officials are working with the Ministry of Finance to gazette a Zimbabwe tariff order to pave the way for implementing the trade agreement.
Proplastics, a plastics manufacturer in Zimbabwe, expects to benefit from improved operational efficiencies after commissioning a new plant in the second half of 2016. The new plant is part of the company's broader modernization program, which has already seen a new injection moulding factory and HDPE line commissioned. The CEO said the new plant will improve margins and reduce costs for consumers. For the first four months of 2016, Proplastics' volumes were up 9% and exports contributed 14% to turnover, though overall turnover was flat compared to the prior year due to weaker regional currencies.
The Zimbabwe Mining Development Corporation has commenced efforts to revive the Golden Kopje Mine by seeking a firm to conduct a feasibility study. The study will develop a business plan and work schedule for reopening the mine. Golden Kopje Mine, located in Chinhoyi, stopped operations in 2006 due to financial constraints but reopened in 2009 before shutting down again in 2014 due to operational challenges. Reopening the mine could boost Zimbabwe's gold production, which increased 34% last year.
MFIs loaned $187m in 2015, but fell into consumptive lending trap Zimpapers Group (1980)
- Microfinance institutions (MFIs) in Zimbabwe have largely failed to improve small businesses as a large portion of their loans have gone towards consumption rather than productive sectors.
- Statistics from the Reserve Bank of Zimbabwe show that between 2013-2015, MFI loans were dominated by consumptive lending rather than productive sector funding as was expected.
- In 2015, MFIs loaned a total of $187.1 million but only $85.6 million (45.7%) went to productive sectors while the remaining $101.5 million (54.2%) were consumptive loans.
State-owned mobile operator NetOne expects to pay a dividend to the Zimbabwean government by the end of 2016. This is despite posting a $3 million loss in 2015. The company's acting CEO said ongoing restructuring efforts will improve financial performance going forward. He noted that NetOne has similar network infrastructure to larger competitor Econet but generates much less revenue, indicating room for growth. The CEO said NetOne should capture more market share by better utilizing government customers and expanding its sales and distribution networks.
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Ariston debt reduction plan edges closer
1. By Tawanda Musarurwa
HARARE - Origin Global Hold-
ings' move to up its 67,64 per-
cent stake in Zimbabwe Stock
Exchange listed horticultural firm
Ariston appears to be bearing
fruit, with the company indicat-
ing that the proposed transac-
tion now awaiting compliance
with 'routine' regulatory require-
ments.
Earlier indications by sources
privy to the proposed deal
pointed to Origin Global seeking
to convert loans they extended to
the company into equity as part
of balance sheet restructuring.
Such a restructuring would natu-
rally result in the majority share-
holder boosting its equity in the
horticultural firm.
In a cautionary to shareholders
today, Ariston said the "transac-
tion involves a proposal received
by the board from the major
shareholder of the company,
Origin Global Holdings which
is undergoing the normal Zim-
babwe Stock Exchange listing
requirements and other regula-
tory requirements....."
Ariston’s long term borrowings
stood at $7,2 million at the end
of the full year to March 2015, a
jump from $3 million in the pre-
vious comparable period while
short term debt fell from $11,1
million to about $8 million.
For the full year to March Ariston
reported a loss of $820 000 from
a profit of $980 000 registered in
prior year on declining revenue.
Ariston is engaged in horticulture,
tea, macadamia nut production,
fishery, poultry production and
supply of fresh farm produce, and
its key divisions include South-
down Estates, Claremont Estate,
Kent Estate, and Fruit and Vege-
table Company (FAVCO).●
News Update as @ 1530 hours, Tuesday 05 January 2016
Feedback: bh24admin@zimpapers.co.zwEmail: bh24feedback@zimpapers.co.zw
Ariston debt reduction plan edges closer
3. BH24 Reporter
HARARE -The value of mobile
transactions declined between
October and November 2015,
largely due to a dip in transactions
processed through the Real-time
gross settlement (RTGS) system.
According to statistics from the
Reserve Bank of Zimbabwe (RBZ),
a review of the month showed that
mobile and internet transactions
declined respectively while cash
transactions increased.
The RBZ said the value of transac-
tions processed through the RTGS
system decreased by 10 percent
to $3,55 billion, in November
2015, from $3,96 billion in Octo-
ber 2015.
Over the same period, the vol-
ume of transactions registered a
decrease of 8,3 percent, from 156
428 to 143 435 transactions. The
total value of mobile and internet
based transactions declined from
$585,7 million in October 2015, to
$571,3 million in November 2015.
Card-based transactions declined
from $484,3 million in October
2015 to $477,9 million in Novem-
ber 2015. This was largely attrib-
utable to the late payment of sal-
aries to civil servants and other
companies.
The central bank indicated that
the value of cheque transactions
registered a $0,2 million increase
from $11,8 million in October 2015
to $12 million in November 2015.
The total value of mobile and
internet based transactions
declined from $585,7 million in
October 2015 to $571,3 million in
November 2015.
Meanwhile, money supply during
the period rose to 7,5 percent on
the back of improved confidence in
the banking sector, said the RBZ.
“Annual growth in money supply
surged to 7,5 percent in November
2015, from 3,2 percent in October
2015.
"On a monthly basis, broad money
increased by 3,1 percent to $4,74
billion in November 2015. The
increases partly reflected a marked
improvement in confidence in the
banking sector,” RBZ said.
The growth in annual broad money
was due to the increases in savings
deposits by 12,2 percent, demand
deposits 11,8 percent, and long-
term deposits 9,8 percent.
But, short-term deposits declined
by 10,9 percent.●
3 news
Digital payments transactions take a dip
5. HARARE - Government is working
on a raft of measures to address
challenges that have been hin-
dering increased participation of
indigenous Zimbabweans in the
local economy, Finance and Eco-
nomic Development Minister Pat-
rick Chinamasa said on Monday.
Minister Chinamasa told a press
briefing that increased participa-
tion of locals in the economy was
a key enabler to economic growth.
“Foreign investment will come to
complement what local partici-
pants are doing. The ministry (of
Finance) is going to address those
bottleneck issues where we think
we need to nature and enhance
local participation in our economy,”
he said.
“A lot of models are going to be
worked out so that we enhance
local participation in our economy.”
Minister Chinamasa said some of
the challenges included lack of
funding and insufficient entrepre-
neurship skills.
“Those are the issues as we go
forward we are going to have to
tackle and find creative ways of
addressing them,” he said.
Speaking at the same event,
Reserve Bank of Zimbabwe gover-
nor Dr John Mangudya said it was
crucial for Zimbabwe to improve
on domestic investment.
“Investment is not only foreign
investment, we are talking about
both domestic and foreign invest-
ment, they are all needed. In fact
when an economy has got more
domestic investment it means we
keep more money in the econ-
omy,” he said.
Zimbabwe has already crafted
laws including the Indigenisation
and Economic Empowerment Act
meant to increase the participa-
tion of locals in the mainstream
economy.
But, due to limited funding, many
locals have failed to penetrate into
the mainstream economy.
On top of trying to increase
domestic investment, government
is also working on a new 100 day
Action Plan to improve the ease of
doing business in the country and
in turn attract more Foreign Direct
Investment (FDI).
Government has set a target of the
first quarter of this year to achieve
key reforms that will improve the
ease of doing business.
Some of the reforms include
amending the Companies Act,
Shop licencing Act and the Pro-
curement Act while also aiming to
reduce the days it takes to reg-
ister a business from 30 days to
between 10 and 15 days.
FDI into Zimbabwe has been low
over the years owing to a number
of reasons including portrayal of
the country as an unsafe invest-
ment destination by Western
media.
Investors have also been shunning
Zimbabwe due to the negative
view of the indigenisation laws the
country is implementing.- New
Ziana.●
5 news
Minister Chinamasa
Govt keen on increasing economic opportunities for locals
7. By Funny Hudzerema
HARARE - Total Gross Premium
Written (GPW) by non-life rein-
surers has increased by 7 percent
from $56,25 million to $60,18 mil-
lion for the half year ended June
30, 2015.
According to the latest non-life
reinsurers report for the period
released by the Insurance and
Pensions Commission the increase
in business of non-life reinsurers
was attributed to an upsurge in
the volume of business written in
engineering and fire reinsurance
which amounted to $2,21 million
and $1,89 million respectively.
“Personal Liability and engineer-
ing reinsurance were the fastest
growing business classes in terms
of GPW during the period under
review while the bonds and health
insurance recorded the highest
percentage decreases in gross
premium written,” said the IPEC.
The Gross premium written
amounting to $5,49 million, which
accounted for 9,12 percent of total
GPW for the half year ended June,
30 2015, was sourced from out-
side Zimbabwe.
The report indicated that GPW by
reinsurers from the local market
was in line with reinsurance pre-
miums ceded by direct insurers
implying reduced direct placement
of business by local insurers to
reinsurers outside Zimbabwe.
IPEC said there were no significant
changes in the distribution of busi-
ness written with fire and motor
reinsurance remaining the domi-
nant classes of business.
The two business classes
accounted for a total of 59,65
percent of total gross premium
written during the half year ended
June 30, 2015 compared to 62,47
percent reported in the compara-
tive period in 2014.
Total assets for non-life reinsurers
amounted to $128,02 million as at
30 June 2015, reflecting no signif-
icant change from $128,10 million
that was reported as at March 31,
2015.
The report by IPEC also indicated
that there were no significant
changes in the industry average
retention ratio which was 67,12
percent for the half year ended
June 30, 2015 compared to 66,64
percent reported in the compara-
tive period in 2014.●
7 news
Non-life reinsurers GPW up 7pc
8. HARARE -The equities market
continues on a downward trend
in the new year. Today the main-
stream industrial index lost 0.04
to close at 114.31 after croco-
dile skin producer Padenga shed
$0,0053 to trade at $0,07200
while First Mutual and Pearl Prop-
erties both closed at $0,0220
after losing $0,0010 apiece.
Hotelier Meikles eased $0,0010
to trade at $0,084 and telecoms
giant Econet shed $0,0009 to
$0,2101.
On the upside Delta Bever-
ages gained $0,0034 to close
at $0,7000, NMBZ moved up
$0,0016 to settle at $0,0367
and Simbisa was up $0,0010 to
$0,1570.
The mining index was flat at
24.27 as Bindura, Falgold,
Hwange and RioZim maintained
previous price levels at $0,0160,
$0,0050, $0,0300 and $0,1040
respectively. - BH24 Reporter ●
ZSE8
Industrials extend losses
Peace of mind is good
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11. 11 DIARY OF EVENTS
The black arrow indicate level of load shedding across the country.
POWER GENERATION STATS
Gen Station
05 January 2016
Energy
(Megawatts)
Hwange 415 MW
Kariba 588 MW
Harare 0 MW
Munyati 15 MW
Bulawayo 18 MW
Imports 0-100 MW
Total 1058 MW
THE BH24 DIARY
12. JOHANNESBURG - South Afri-
ca's rand was flat against the
dollar on Tuesday, with traders
and analysts expecting side-
ways trade as the market slowly
gets back to full steam after the
year-end break.
Stocks opened a touch
firmer, with the JSE securities
exchange's Top-40 index adding
0,45 percent.
By 0700 GMT the rand traded at
15,540 against the dollar, just
0,06 percent firmer than Mon-
day's New York close.
Government bonds were
slightly firmer with the bench-
mark 2026 instrument yielding
2 basis points lower at 9,705
percent.
The rand weakened about 25
percent versus the dollar in
2015 on concerns about weak
local growth and as expecta-
tions of higher US interest rates
dented appetite for emerging
markets.
"Given the tough end to the
year ... it is to be expected that
trades will not try and get too
involved just yet and are pos-
sibly hoping for some sort of
decent liquidity to drift back
into the market," Standard
Bank trader Warrick Butler said.
- Reuters●
regioNAL News12
Rand flat, stocks open a touch firmer Angola's kwanza weakens more than 15pc
against dollar - cbank
LUANDA - Angola's kwanza
tumbled more than 15 percent
against the dollar on Monday,
central bank data showed,
as Africa's second-largest
oil exporter reels from weak
global oil prices and high
demand for the more stable
dollar.
In addition to the fall in the
price of oil, domestic petrol
prices rose sharply on Jan.
1 as the government cut its
subsidies, in a move likely to
push up inflation and weaken
the domestic currency further.
Data on the Bank of Angola
website showed the kwanza
was officially bid at 154,835
against the greenback com-
pared with 134,573 on Dec.
31.
"This is an adjustment to
reduce the gap between the
exchange rate from the cen-
tral bank and the exchange
rate from the street market,
which is the real market,"
chief executive officer of
state-owned Bank of Com-
merce and Industry, Jorge
Peres said.
The kwanza is now down more
than 50 percent since January
2015.
- Reuters●
13. Oil held losses below $37 a barrel
before US government stockpile
and production data and as China
moved to support its markets after
a broader slump on Monday.
Futures were little changed in New
York after falling 0,8 percent Mon-
day. US crude inventories were
probably unchanged last week,
keeping supplies more than 130
million barrels above the five-
year average, a Bloomberg sur-
vey showed before government
data Wednesday. China-controlled
funds bought equities and regula-
tors signaled a selling ban on major
investors will remain beyond this
week’s expiration date, according
to people familiar with the matter.
Oil capped the biggest two-year
loss on record in 2015 as ample
US crude stockpiles sustained a
supply glut and the Organisation
of Petroleum Exporting Countries
effectively abandoned production
limits.
As investors assess the impact of
Saudi Arabia cutting ties with Iran,
they are also watching measures
by China to prevent the country’s
financial-market volatility from
weighing on an already-slowing
economy.
“It’s going to be a very volatile
year for oil,” Evan Lucas, a mar-
ket strategist at IG Ltd. In Mel-
bourne, said by phone. “There will
be spikes, there will be bad news
with supply increases, it’s going to
be very tricky. Prices are likely to
remain at current levels, possibly
go slightly lower.”
Oil Stockpiles
West Texas Intermediate for Febru-
ary delivery was trading at $36,83
a barrel, up 7 cents, at 3:27 p.m.
Hong Kong time on the New York
Mercantile Exchange. The contract
lost 28 cents to close at $36,76 on
Monday after advancing as much
as 3.6 percent amid the height-
ened Middle East tension. Prices
slid 30 percent last year.
Brent for February settlement was
unchanged at $37,22 a barrel on
the London-based ICE Futures
Europe exchange. The contract
dropped 6 cents on Monday. The
European benchmark crude traded
at a premium of 39 cents to WTI.
U.S. crude stockpiles probably
remained unchanged at 487.4 mil-
lion barrels last week, according to
the median estimate in a Bloomb-
erg survey before a report from
the Energy Information Adminis-
tration. Refinery rates increased
by 0.2 percentage points to 92,8
percent of capacity, the survey
shows.
China Rout
Chinese government funds pur-
chased local stocks on Tuesday
after a 7 percent tumble in the
CSI 300 Index on Monday trig-
gered a market-wide trading halt,
said the people, who asked not
to be identified because the buy-
ing wasn’t publicly disclosed. The
China Securities Regulatory Com-
mission asked bourses verbally to
tell listed companies that the six-
month sales ban on major stock-
holders will remain valid beyond
Jan. 8, the people said.
Saudi Arabia cut ties with Iran fol-
lowing an attack on its embassy
in Tehran by demonstrators pro-
testing the execution of a promi-
nent Shiite cleric. While the Sau-
dis’ move to isolate Iran raises
the specter of deepening conflicts
in the Middle East, the impact on
prices is limited because of the
global surplus, according to Mac-
quarie Group Ltd. and FGE, an
industry consultant.
Saudi Arabia produced 10.25 mil-
lion barrels of oil a day in Decem-
ber, helping to keep daily OPEC
output above 32 million barrels
for a seventh month, according
to data compiled by Bloomberg. -
Bloomberg●
internatioNAL News13
Oil holds loss before US data as China seeks market support
14. By Cecilia Jamasmie
Despise missing expectations
for the year, uranium —the
radioactive material used as
fuel for power-generation
plants— has emerged as the
best-performing mining com-
modity of 2015.
Spot uranium prices last traded
at $35,80 per pound, less than
the expected $40 per pound
expected, but on track for
gains of 0,85 percent since
starting the year at $35,50/lb,
according to Australian invest-
ment bank, Macquarie.
The metal that powers nuclear
reactors has been gradually
recovering from a sharp decline
in the wake of Japan’s Fukus-
hima disaster in 2011, and
analysts expect the commodity
to continue putting a smile on
investors’ faces next year, as
prices are set to keep climbing.
Credit Suisse, for one, fore-
casts that spot uranium prices
will gain in 2016 to average
$40 a pound, before reaching
$45 in 2017, $50 in 2018 and
$60 a pound in 2019.
Investment bank Cantor
Fitzgerald is also bullish on
uranium, anticipating a supply
crunch in the near future, as
the drive for "clean" sources of
energy encourages countries to
use non-polluting fuels, Invest-
ing News reported:
“Cantor Fitzgerald estimates
global uranium demand for
2017 and 2018 at 198 million
pounds and 201 million pounds
U3O8, respectively; as of 2017,
about 25 million pounds U3O8
will be uncovered, with that
number falling to 40 million
pounds by 2018. These num-
bers translate into uncovered
amounts of 13 and 20 percent,
respectively, with the uncov-
ered portion growing at a rapid
rate in the following years.
“What’s more, available sup-
ply from stockpiles and exist-
ing uranium operations likely
won’t be able to match the new
demand coming into the mar-
ket.”
Asian demand
That demand is likely to come
mainly from Asia, particularly
from China, which is aiming
to have 58 gigawatts of nucle-
ar-generating capacity by
2020. Of the 64 reactors cur-
rently under construction glob-
ally, 21 are in China, accord-
ing to the International Atomic
Energy Agency.
In fact, the Asian giant is on
track to replace the US as the
world's top uranium consumer,
according to Washington D.C.'s
Center for Strategic and Inter-
national Studies.
Demand from Japan and India
are also expected to push pro-
cess higher. Tokyo restarted
two nuclear energy facili-
ties earlier this year and has
approved the restarting of two
more in 2016, although this is
subject to an injunction appeal.
India, in turn, plans to produce
25 percent of its electricity
from nuclear power by 2050,
according to the World Nuclear
Association. - Mining.com ●
14 analysis14 analysis
This was the top-performing mining commodity of 2015