Shareholders cautioned
Local commercial banks, Barclays and Standard Chartered, have advised shareholders to exercise caution when dealing with the banks’ securities following the sale of custody business of Barclays to Standard Chartered as conditions precedent of the agreement remain to be fulfilled.

Engen elects board
Engen Botswana has set August 12 as the date for the company’s Annual General Meeting at the Grand Palm Hotel. Among others shareholders will approve recommended dividends, elect directors and appoint auditors for the new financial year.  

PAMRO meets
The 12th Pan African Media Research Organisation (PAMRO) Meeting and All Africa Media Research Conference will take place from 22 - 25 August 2010 in Gaborone, to present on various points i.e. Digital Terrestrial Television (DTT) and audience measurement during the World Cup.

Newgold ETF
The newly listed ETF, New Gold, closed the day at P80.80, Wednesday down from its listing price of P83.00. A total of 2,024,185 shares and debentures were traded last week with a turnover of P43.7 million.

BIHL board to meet
Botswana Insurance Holdings Limited (BIHL) board will meet to discuss the new property division that would be headed by Victor Senye.

Recovery not yet
Chancellor Angela Merkel said Germany needs to focus on budget cuts in order to foster growth, and that tax cuts are unlikely even if revenue increases exponentially.

Japan unchanged
Japan’s economic assessment for July was left unchanged by the government, although issues of growing unemployment were highlighted in the cabinet office’s monthly reportreleased Wednesday.

UK manufacturing
Total orders hit a 23-month high in July of 16pc, according to the CBI industrial trends survey, and output in the quarter grew at 24pc, its strongest rate since April 1995 - far exceeding expectations.

Tokyo stocks fall
Tokyo stocks relinquished gains made in early trade Wednesday, closing down for the fourth consecutive day as investor mood was dourer by ongoing fears about the U.S. economy and a strong yen also weighed on the market.
Sources: USA Today, The Telegraph, Xinhui. Additional reporting by Botswana Guardian.