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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 - The SA Transport and Allied Workers' Union (Satawu) has accepted a new wage offer from the Passenger Rail Agency of SA (Prasa), ending a 15-day nationwide strike that left commuters stranded.
"The strike is over... our members are back at work today [Tuesday]," said Satawu deputy president Robert Mashego.
The union briefed its members on a new offer on Monday. "Our members said they can live with it [the new offer]," said Mashego.
The Satawu strike, which had affected railway services, entered its third week on Monday after it started on May 17. Workers were demanding a 13% increase, while Prasa offered 10%
The United Transport Allied Trade Union (Utatu) initially embarked on strike action alongside Satawu, but later accepted its 10% wage increase offer, which had been revised upwards from 5%.
The new offer to Satawu, which was tabled on Friday, kept the 10% across-the-board increase for Prasa's 15 000-strong work force.
But Shosholoza Meyl workers earning less than R60 000 per year would get a 12.5% increase, and Metrorail workers earning less than R70 000 per year a 12% salary hike. This would affect a total of 4 800 workers, mainly coach cleaners.
Additionally, all workers would receive a R1 000 once-off payment in June. The new offer would be backdated to April 1.
Prasa operates Metrorail and Shosholoza Meyl.
Rail services were completely shut down in the first week of the strike, after which a skeleton service was run when Utatu members went back to work.
About two million commuters who rely on rail services every day had to seek alternative transportation for the duration of the strike.
- Sapa