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Free AccessLabour Union Federations May Resume Strikes, Eskom Warns Power Cuts Will Continues
- Public service labour union federations Cosatu, Saftu and Fedusa have threatened to hold another strike this Friday (December 2) as the government refuses to yield to their wage-hike demands. Civil servants are calling for double-digit wage rises versus the 3% offered by the authorities. Last Friday, Fitch affirmed South Africa at BB- with a stable outlook, but warned that the proposed increase in wages would put South Africa's debt servicing outlook at risk.
- Eskom announced the suspension of rolling blackouts from Sunday midnight, with Stage 1 resumption scheduled for 5am to 4pm today and Stage 2 set to begin thereafter. There are no power outages planned for Tuesday. The energy provided said rolling blackouts are only implemented as a "last resort," but it is facing numerous plant breakdowns and limited emergency generation reserves.
- The parliamentary impeachment proceedings against suspended Public Prosecutor Busisiwe Mkhwebane's fitness to hold office resumes today following a two-week hiatus caused by a court appeal surrounding the suspension.
- Data releases for this week kick off tomorrow with October money supply/private sector credit and Q3 unemployment.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.