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Government Faces Prospect of Strike Action From Own Workers

SOUTH AFRICA
  • According to Business Day, strike action concerns continue as the state workers have now declared a dispute with the government over a new wage agreement, which could lead to broader strike action by government workers. The piece writes that if an agreement isn’t reached from mediated talks within 30 days, more than 200,000 workers may go on strike. Workers have already rejected an offer of a 2% pay increase and are sticking to their demands for a 10% hike.
  • Fin24 reports that the SARB is planning to declare cryptocurrency as a financial product in the coming year, meaning South Africans could be able to buy and sell listed cryptocurrencies on local exchanges, in a completely regulated environment.
  • Focus turns to retail sales data for May crossing later today, expected at +0.6% on the month and +2.0% on a Y/Y basis.
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