Airtel in trade malpractices

The Competition and Fair Trading Commission says it has established that Airtel Malawi was involved in anti-competitive practices which are a violation of the Competition and Fair Trading Act.

EIU predicts slow growth in 2014

The influential Economist Intelligence Unit (EIU) says Malawi economic growth in 2014 will slow on account of uncertainties over general elections which will affect investment levels. In its quarterly investment report for 2012, EIU, however, says spending by government during the period will sustain growth. —CHIKONDI CHIYEMBEKEZA, Staff Writer.

Moam seeks a solution

In a bid to cushion the just hiked insurance tariffs, the Minibus Owners Association of Malawi (Moam) along with its working stakeholders have embarked on a project to identify potential money- lending institutions, whereby only its registered operators shall be able to access soft loans.

ICB profit jumps 115%

International Commercial Bank (ICB) Limited has posted a net profit of K13.52 million, a 114.8 percent jump from last year’s K6.29 million, pushed by major gains in non interest income and growth in deposits. “Despite major costs increase owing to interest rate hike and inflationary trends in the economy, the bank is on the road to greater achievements,” said the bank’s statement accompanying its half-year results.—CHIKONDI CHIYEMBEKEZA

TNM pays 2t per share dividend

TNM has declared its second interim dividend of K200.8 million, an equivalent of two tambala per share according to a press statement released this week and signed by TNM company secretary Christina Mwansa.

Engineers bang heads

Local engineers will from Thursday  converge on Mangochi for their 9th annual conference themed ‘Engineering the transformation of Malawi from net importing to net exporting’, a statement from the grouping has said. 

The two-day conference will, among others, discuss topics such as low wind speed power generation, solar biogas energy generation and utilization and value adding to domestic and industrial waste.—CHIKONDI CHIYEMBEKEZA, Staff Writer.

Japanese exports drop

Japanese exports to China tumbled in September compared to the previous year, as a territorial dispute between the two countries weighed on the economy. Exports from Japan declined at their sharpest pace since the aftermath of last year’s earthquake and tsunami. Overseas shipments fell 10.3 percent, compared to last year, the Finance Ministry said. Relations between China and Japan have soured in recent weeks. —Bbc

Selling at Chewas’ Kulamba

The Chewa’s Kulamba traditional ceremony, held at Katete in Zambia, was a hive of activity. Private companies such as Airtel Zambia, MTN, Chibuku Products Limited and many more were wooing customers. As Chewa chiefs from Zambia, Malawi and Mozambique were paying homage to their supreme ruler Kalonga Gawa Undi, business was running high, as the companies were promoting and selling their products. Small-scale businesses were also running, as thousands thronged to the Mkaika Headquarters. Farm produce, zitenje, clothes, shoes, utensils, drinks, artefacts, among others, were on offer. The picture shows part of the crowd shopping and admiring goods and wares during the ceremony.—Kondwani Kamiyala.

Most workplaces contravening Act

The Ministry of Labour says most workplaces are operating without valid registration certificates and are using dangerous machinery such as pressure vessels that have not been examined by their inspectors. 

Brace for power cuts

Not again! As the Electricity Supply Corporation of Malawi (Escom) revamps and upgrades one of its plants which has outlived its lifespan at Nkula Hydro Electric Power Station, Malawians should brace for more power outages besides the normal power rationing.