LUSAKA, Nov. 21 (Xinhua) -- The following are news highlights in Zambia's major media outlets on Tuesday.
--The Zambian government has denied reports that President Edgar Lungu has sent former President Kenneth Kaunda to compel embattled Zimbabwean President Robert Mugabe to step down and pave way for a new government.
Minister of Foreign Affairs Harry Kalaba said Zambia's intervention in the Zimbabwe crisis could only be done through the regional bloc, the Southern African Development Community (SADC). (The Mast)
--The banking sector in Zambia is in January next year expected to start implementing a new standard which will give all financial institutions a holistic and updated view of the level of impairments in the industry.
Bankers Association of Zambia chief executive officer Leonard Mwanza said commercial banks were prepared to migrate to the International Financial Reporting Standard (IFRS 9) which comes with changes and redefines how financial institutions should account for expected credit losses. (Times of Zambia)
--Zambia is poised to record remarkable economic growth over the next four years because of the current efforts by the government to create wealth and jobs through industrialization.
The Public Policy Institute of Zambia, a local think-tank, said the government's commitment to expand the country's industrial base through promotion of value addition to primary products should be commended as this will trigger economic growth. (Zambia Daily Mail)
--The Zambian government has lifted the ban on trucks destined for the Democratic Republic of the Congo (DRC) carrying commodities such as cement and steel, allowing them to transit through Zambia.
Zambia Revenue Authority said the ban has been lifted after the two governments held a meeting to resolve the issue as Zambia had retaliated to the DRC's move to ban Zambian imports such as cement, steel, carbonated rinks, beer and wines into that country. (Daily Nation) Enditem
