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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, 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 train drivers' strike will continue into next week, even
though support appears to be dwindling, the United Transport and
Allied Trade Union said on Friday.
"At this point in time we have not lifted the strike. It will
continue next week," said Utatu deputy general secretary Pieter
Greyling in rejecting a claim by the Congress of South African
Trade Unions (Cosatu) that the five-day old strike was over.
Greyling said a general meeting of members would be called on
Tuesday in the Western Cape, the province where the strike appears
to have been most successful, to discuss the way forward.
Earlier, Cosatu's Western Cape provincial secretary Tony
Ehrenreich said in a statement that Cosatu had "intervened in the
strike and secured the return to work by striking workers on
Monday".
Greyling said Cosatu could not speak on behalf of Utatu, which
was aligned to the Federation of Unions of South Africa.
He said there had still been no movement from management on the
pay dispute, which relates to the calculation of overtime, which
had led to the strike.
The Passenger Rail Agency of South Africa (Prasa) said 86% of Metrorail trains countrywide were running during the 8:00
peak on Friday, a "major improvement" on earlier in the week.
Spokesperson Tiro Holele said the 8:00 figure in Gauteng was 98%, KwaZulu-Natal 96%, and the Eastern Cape 100%.
In the Western Cape, which has been hit by what Metrorail
believes are strike-related cable thefts, barely half of scheduled
trains were running at 8:00, but by 9:00 that figure had improved to
81%, Holele said.
"So we're improving as the day goes," he said.
He said all the cable damage had been repaired on Thursday
night, and that this was making a "huge difference" to services.
"Though we're not at a 100% optimal level, the company's
functioning very well," he said. "We really hope that the strike
ends soon."
He said Prasa stood by its position that it would not negotiate
with Utatu, which was a minority union in Prasa.
Prasa was not taking a hard line, merely being pragmatic, he
said.
The wage offer accepted by the Cosatu-affiliated South African
Transport and Allied Workers' Union was what the company could
reasonably afford.
It was only a small group that was holding out for more
negotiations.
If Prasa acceded to the demand, it could end up spending the
whole year negotiating pay rather than attending to operational
issues, said Holele.
"We are not prepared to do that. It will not be done. There's
nothing really that can be said," he said.
- Sapa