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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 24 2012 12:00
Britain fell deeper into recession than initially thought in the first quarter of 2012, upping chances that the central bank could inject more stimulus into the economy.
Johannesburg - Metrorail was running a reduced service on Monday morning as the SA Transport and Allied Workers Union (Satawu) vowed to forge ahead with national strike action.
Satawu deputy president Robert Mashego said no further wage talks had been scheduled with either the Passenger Rail Agency of SA (Prasa) or Transnet, where Satawu members were entering a third week of strike action.
But Mashego said some members were returning to work, despite the majority rejecting a 10% wage increase from Prasa and an 11% offer from Transnet.
"There are some people who are going back to work... they are looking after their interests financially," said Mashego.
Economists warned last week that striking workers would lose a significant amount of money since the "no work, no pay" rule applied.
Satawu's fellow union, the United Transport and Allied Trade Union (Utatu) decided at the end of last week to accept both the Transnet and Prasa offers.
Its members were back at work on Monday.
Metrorail in Gauteng announced on Sunday that about 30% of its services would be running on Monday, due to the Satawu strike, whose members were demanding 13%.
All Shosholoza-Meyl trains were expected to be running as normal.
Satawu and Utatu began a strike against Prasa last Monday that saw a shut-down of Metrorail and Shosholoza Meyl services across the country.
Satawu represents about 56% of the Prasa work force.
Two weeks ago, Satawu started the strike against Transnet with its members demanding a 15% salary hike.
- Sapa