Posts in category: Uncategorized

Investigators from the Smidt Heart Institute at Cedars-Sinai are one step closer to helping individuals catch a sudden cardiac arrest before it happens, thanks to a study published today in The Lancet Digital Health journal.

POWER Dynamos have set up a date against Tanzanian giants Simba SC in the Champions League after beating Namibia’s African Stars 1-0 at Levy Mwanawasa Stadium in Ndola. Having lost 2-1 in the first leg, Power’s win today sees them tied 2-all on aggregate but the away goal rule has helped them progress to the […]

JOURNALIST Jaja Komoko has been arrested and charged for allegedly defaming UPND National Youth Chairman Gilbert Liswaniso and trying to extort money out of suspecting members of the public. Police spokesperson Rae Hamoonga said in a statement Mr Komoko is charged with the offence of Libel contrary to Section 191 of the Penal Code Act […]

By NATION REPORTER

PRESIDENT Hakainde Hichilema yesterday concluded his engagements in Johannesburg, South Africa where he attended the 15th BRICS Summit in his capacity as Chairperson of the Common Markets for Eastern and Southern Africa.

The Summit was convened under the theme Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism.

During the two-day Summit, President Hichilema participated at the BRICS Roundtable Discussion, co-chaired by Cyril Ramaphosa, the President of South Africa and Xi Jinping, President of China.

The High-Level Dialogue was held under the theme “Promoting African Integration and Jointly Building A High-Level Africa-China Community with A Shared Future.

During the discussion, President Hichilema commended BRICS for providing a platform for African regional blocks to discuss matters critical for enhancing South-South Cooperation. According to a statement issued by Tamara Nyirenda, the First Secretary Press and Public Relations at the Zambia High Commission in South Africa, President Hichilema thanked the People’s Republic of China for being a valuable partner in supporting Africa’s development efforts.

He reiterated Zambia’s commitment to the Africa-China partnership through the Forum on China-Africa Cooperation (FOCAC), both as a nation and as Chairperson of COMESA.

President Hichilema urged the People’s Republic of China to increase support for the continental development agenda, especially in areas of infrastructure development, industrialization, modernizing production, particularly in agriculture, and capacity building of human resources. On the sidelines of the Summit, President Hichilema addressed the BRICS – AFRICA Outreach and BRICS Plus Dialogues whose theme was ìPartnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralismî.

He said the discourse resonated well at a time when the continent is seeking sustainable solutions to the current unprecedented economic challenges.

The President further called on the Summit to serve as a stepping stone to enhance coordination between BRICS and Africa, enabling an effective response to the global social, political, economic, and environmental challenges.

The President said Zambia was eager to strengthen partnerships that bring mutual benefits, and remained keen on fortifying economic ties with likeminded countries, based on the complementary nature of resources.

President Hichilema advocated for a revitalized international order that is rule-based, fair, and inclusive, addressing opportunities and challenges in solidarity, to achieve outcomes that are mutually beneficial.

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By NATION REPORTER

A JOINT team of officers from the Zambia Compulsory Standards Agency (ZCSA) and Lusaka City Council (LCC) has seized assorted potable spirits, toilet soaps, food products and spices valued around K88, 260 for not adhering to applicable compulsory standards and the laws of Zambia. 

The assorted products were seized from Ming Hui Supermarket in Lusaka’s Industrial Area along Mungwi Road on Thursday specifically for being labelled in foreign language only while others had either expired or were not labelled at all.  

Further, Ming Hui Supermarket supplied on the market products covered by compulsory standards without authority from ZCSA. 

According to a joint statement released by LCC and ZCSA the infringed laws are Compulsory Standards Act No. 3 of 2017, Public Health Act Cap 295 of the laws of Zambia and the Food Safety Act No. 7 of 2019.

The statement indicated that the assorted products, which had since been withdrawn from the market, would be disposed of as required by the law.   

The two institutions warned of stern action against entities which were in a habit of importing and selling products on the market without complying with various laws of Zambia. 

The statement said unregulated products posed a risk to the safety and health of consumers.

“In this regard, the two institutions will continue conducting enforcement activities in a bid to ensure only safe products are allowed on the market,” the statement read. 

The two institutions said they would also continue conducting public education for the public to know what to look out for in products.

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By NATION REPORTER 

THE Zambia Republic Party (ZRP) says it will launch protests against government should President Hakainde Hichilema reject the proposal that Zambia should consider joining the BRICS on a permanent basis.

Wright Musoma, the ZRP president says he shall conduct protests if President Hichilema would be unwilling to make Zambia a permanent member of the BRICS group which has opened invitations to other countries.

Mr Musoma said by permanently joining the BRICS, Zambia would greatly benefit from the global community whose economies were fast growing.

He said BRICS was an emerging bloc which would greatly benefit the country and that it was only right for the head of State and his government to consider joining the group.

Meanwhile, Patriotic Front (PF) Deputy Chairperson for publicity Emmanuel Mwamba has also echoed Mr Musoma’s sentiments and said the move would greatly benefit Zambia.

He said so far, BRICS had admitted Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and United Arab Emirates.

Mr Mwamba said Zambia was even better off leaving other international organisations lead by the west which did not greatly benefit the country.

“For me, I just want to appeal to President Hakainde Hichilema to ensure that he joins the BRICS on a permanent basis because the benefits will be too much for Zambia,” Mr Mwamba said.

He said the countryies that were part of the BRICS block were those that had been all weather friends to Zambia from time immemorial. 

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By PRINCE MABUMBA

THE Bankers Association of Zambia (BAZ) has projected   an increase in loan lending rates from 25.7 percent to at least 26 percent on average depending on the lending institution. 

Speaking in an interview with Millennium TV, BAZ chief executive officer, Leonard Mwanza explained that this is as a result of the loans being linked to the Monetary Policy Rate (MPR), which has been adjusted upwards by 50 basis points. 

“The implication, particularly,  to those that have borrowed and intend to borrow from the banking sector , as I said interest rates have been adjusted upward so this entails that all the lending rates will be adjusted upwards and banks will be notifying their clients  on this expected increase in lending rates.

“As always, it a choice a customer takes whether to maintain their current loan instalments and increase the loan tenure or likewise they can choose to increase their monthly loan instalments and maintain the loan tenure so those are the two options that the banks will offer the borrowing public in terms of how they can manage the increment,” Mr Mwanza said.

He encouraged borrowers to stick to suitable loan plans that will not be a drain to their income and repayment plans. “You can increase your low instalment and maintain the loan tenure or likewise you can choose to maintain the current loan repayment before the adjustment but then the bank will have to increase the period in which the loan has to be repaid,” he said.

On Wednesday, the Bank of Zambia (BoZ) adjusted the MPR upwards by 10 basis points from 9.50 percent in May 2023 to 10 percent.

Central bank Governor, Denny Kalyalya said the decision to increase the MPR was arrived at by the Monetary Policy Committee at its meeting held on August 21 and 22, 2023.

Dr Kalyalya said the decision was informed by recognition that inflation not only persisted above the six to eight percent target band during the second quarter of the year but moved away from the target in July, 2023.

He said the inflation rate is projected to remain above the target band over the forecast horizon and has warned that if left unchecked, it would undermine the gains already made in restoring macroeconomic stability.

Dr Kalyalya said monetary policy can best support these efforts by steering inflation back to the six to eight percent target and anchoring inflation expectations.

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AI might not always be your most accurate source of health information, especially when it comes to cancer care, new research finds.

Sleep is known to support the proper functioning of body, including the brain, allowing it to rest, recover, and recharge. While countless neuroscientists and medical researchers have been trying to better understand this vital biological process, much of its neural underpinnings are still unknown.

By PRINCE MABUMBA

THE Jesuit Centre for Theological Reflection (JCTR) says it hopes that private bondholders and creditors will agree to restructure Zambia’s debt on comparable terms with the agreement sealed with official creditors under the g20 common framework on debt restructuring.

Speaking when he featured on Millennium TV’s Business Day programme, JCTR Executive Director, Alex Muyebe hoped that the negotiations with the private bond holders and creditors scheduled for next month would yield positive results.

“You have an entity that is maybe refusing to play ball that does not look good for Zambia. It is our hope that negotiations with private creditors, including the bond holders that will yield some fruit and bear some results indicating the creditors come round the table and agree to the debt restructuring on comparable terms under the G20 framework.

 “Just like the bilateral creditors have demonstrated and have shown the way and now it is up to the private creditors to do their bit,” Fr Muyebe said.

He also urged Blackrock, a New York based, the US$ 8.6 trillion investment company, which owns Zambia’s highest external debt at us$ 220 million, to respond positively to the debt restructuring negotiations with Zambia.

Fr Muyebe  further said  Zambia was not in a position to have entities that are planning to rebel against the G20 Common Framework on debt treatment as this is the first time it is being tested and put to use.

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