Zambia Financial News

ICDS programme to improve the nutritional and health status of children in the age group 0-6 years, laying the foundation for proper psychological, physical and social development of the child. India is also leveraging technology under an ambitious Poshan Tracker for dynamic identification of underweight children, as also of stunting and wasting among them, and for last-mile tracking of nutrition service delivery. Even as India is making rapid progress on health, paradoxically the Global Hunger Index (GHI) has placed India among the bottom 15 ranks, at No.

By Philip Blenkinsop

Russian President Vladimir Putin has arrived in Beijing on a visit that underscores China’s support for Moscow during its war in Ukraine as well as Russian backing for China’s bid to expand its economic and diplomatic influence abroad through its decad...

Russian President Vladimir Putin is expected to meet this week with Chinese leaders in Beijing on a visit that underscores China’s support for Moscow during its war in Ukraine

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Rapidly rising Treasury yields have brought back fears of a potential wave of defaults across emerging markets, with investors questioning which countries struggling with heavy debt loads will miss payments or be forced to restructure first.

bigger debt repayment as they have to pay a total of $3.6 billion by the next fiscal year. Recently, Vendata Chairman Anil Agarwal proposed that the company should consider acquiring Konkola Copper Mines from Vedanta Resources.

The leaders of China and Zambia have announced an upgrading of their ties as the world’s second-largest economy forges deeper ties with the Global South

₹5,809.91 crores from ₹3,056.22 crores in the previous year. Among its key international subsidiaries, UOH Inc owning US hotels registered a turnover of ₹657.69 crores and St.

Vedanta Resources has appointed South African mining veteran Chris Griffith to run its base metals unit, including its recently regained Zambian copper mines. Griffith stepped down as chief executive of Gold Fields in December, after a short stint at the Johannesburg-based gold producer, following an unsuccessful bid to buy Canadian Yamana Gold. Much of Griffith's career has been at Anglo American where he ran Kumba Iron Ore and was instrumental in restructuring and turning around Anglo American Platinum . Griffith will head Vedanta's base metals unit, including zinc mines in Namibia and South Africa, an iron ore business in Liberia and will have oversight over processing businesses in the Middle East and India. A mining engineer, Griffith will probably be more focused on restoring Konkola Copper Mines to profitable operation after the Indian company was given back control of the assets by Zambian authorities after years of protracted battle over the ownership. «I look forward to driving innovation, operational efficiency and sustainable growth across Vedanta's base metals businesses, creating KCM as a cornerstone asset for the company and growing the group internationally,» he said in a statement. Vedanta has pledged to invest about $1 billion in the Zambian operation, where some of its underground mines «need immediate recapitalisation», Mines Minister Paul Kabuswe said on Sept.

Vedanta Ltd acquire Konkola Copper Mines from parent Vedanta Resources Ltd, which has regained control of one of the world’s largest copper mines from the Zambian government. After Agarwal, the Vedanta Group chair, in an uncharacteristic move, shared his views, many proxy advisory firms and investors raised questions on the group’s intention to potentially use the proposed transaction to repay its rising debt.

Mining baron Anil Agarwal on Tuesday said the Konkola Copper Mines, which returned to his London-based firm Vedanta Resources last week, can be moved to the group's India-listed firm Vedanta Ltd «at the right valuation». Last week, Zambia agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources, which is the parent firm of Mumbai-listed Vedanta Ltd. The Zambian government, which owns a 20 per cent stake in KCM, will allow Vedanta to resume control and operate KCM's mines and smelter after the company renewed a pledge to invest more than USD 1.2 billion to increase output and repay outstanding debts. «Going forward, my thought is that we must maximize synergies between KCM and Vedanta Ltd's refining/smelter businesses in UAE & India,» Agarwal said in a post on X.

John Chiti.

Vedanta Ltd on Wednesday incorporated a new subsidiary called Sesa Iron and Steel Limited in the state of Goa for handling iron and steel business, as per regulatory filings. «Sesa Iron and Steel Limited is incorporated for growth projects and to undertake expansion of its operations,» the company mentioned in a regulatory filing with the stock exchanges. Vedanta Group's Sesa Goa Iron Ore is also based in the Western state and is engaged in exploration, mining and processing of iron ore. Iron ore is a key raw material for producing iron and steel.

Morgan Stanley is returning to a bearish view on emerging-market currencies, citing concerns over China’s growth risks that not only weigh on the yuan but also further pressure a weak global economy.

Vedanta Resources Ltd. and Zambian government-owned ZCCM Investments Holdings Plc (ZCCM-IH) have resolved their disputes over a Zambian copper mining complex, Bloomberg reported. The Zambian Konkola Copper Mines (KCM) were placed under provisional liquidation in 2019 by the former Zambian President Edgar Lungu's administration, who accused Vedanta of dishonesty about expansion plans and tax payments, initiating a series of legal battles.

Jio Financial Services: Jio Financial Services Ltd, the demerged non-banking financial services unit of Mukesh Ambani-led Reliance group, will be dropped from Nifty50, other indices, on September 7, the stock exchange NSE said on Tuesday. Shares of JFSL got listed on the stock exchanges on August 21 due to its spin-off from parent Reliance Industries. During the AGM, RIL announced that JFNSL will enter the insurance segment to offer life, general and health insurance products.

Zambia has agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources, mines minister Paul Kabuswe said on Tuesday, ending a row over the ownership of the assets that erupted in 2019 when authorities seized the mines. The government, which owns a 20% stake in KCM through ZCCM-IH, will allow Vedanta to resume control and operate KCM's mines and smelter after the company renewed a pledge to invest more than $1.2 billion to increase output and repay outstanding debts, Kabuswe said. A shareholders' agreement is being reworked to make the commitments from both shareholders legally binding, Kabuswe added. The legal details of the agreement and reinstatement of the KCM board, would be finalised within the next three months, the minister said. Ties between Zambia and Vedanta, owned by billionaire Anil Agarwal, soured after former President Edgar Lungu's government orchestrated the seizure of the KCM assets and forced liquidation in May 2019, accusing the Indian company of failing to meet plans to invest in increasing mining output. The forced takeover nearly paralysed operations at the KCM and triggered protracted battles, with Vedanta mounting legal battles including approaching an arbitration court in London to recover the copper assets. «It is not a secret that the asset has deteriorated a great deal and the production output has substantially reduced,» Kabuswe told journalists in Lusaka.

debt problems gripping a number of developing world nations will be a core topic during the G20 summit in Delhi next month. Below is a look at countries currently facing problems.

China poses to American hegemony. It's an intriguing thesis, but in China's case it has a glaring flaw: The main challenge we will face from the People's Republic in the coming decade stems not from its rise but from its decline — something that has been obvious for years and has become undeniable in the past year with the country's real estate market crash. Western policymakers need to reorient their thinking around this fact. How? With five don'ts and two dos. First, don't think of China's misfortunes as our good fortune. A China that can buy less from the world — whether in the form of handbags from Italy, copper from Zambia or grain from the United States — will inevitably constrain global growth.

tumbled into deflation. A strangely slow official response, and a property crisis that is going from bad to worse, have provoked fears of a prolonged downturn. What happens in the world’s second-largest economy matters everywhere else.