By Reuters Staff
3 Min Read
JOHANNESBURG (Reuters) - One of South Africa’s largest public sector trade unions said on Saturday that it was preparing for a strike, as wage talks with the government reached a deadlock.
Africa’s most industrialised nation is trying to rein in public sector salaries to arrest a rapid build-up in debt that has been exacerbated by the COVID-19 pandemic.
In the 2021 budget presented in February, the National Treasury said ways to curb the wage bill could include freezing salaries for the next three years, headcount reductions and changing or abolishing some benefits for civil servants.
China blue chips lead gains; CSI300 +0.51% Cryptocurrencies plunge on U.S. tax fears European shares seen opening
SHANGHAI, April 23 (Reuters) - Asian shares advanced on Friday, lifted by rising Chinese blue-chips and a decision by the European Central Bank to maintain stimulus, while investors largely shrugged off the impact of a possible U.S. capital gains tax hike.
But equity markets in Europe were set to open lower after two days of gains. In early European trades, pan-region Euro Stoxx 50 futures were down 0.25%, German DAX futures slipped 0.35% and FTSE futures shed 0.43%.
Modest moves in equities markets contrasted with ructions in cryptocurrencies as investors fretted over the impact of tax changes.
SHANGHAI, April 23 (Reuters) - Asian shares rose on Friday after the European Central Bank left policy unchanged, extending a rebound following a sharp selloff earlier in the week, but gains were capped as investors considered the impact of a possible U.S. capital gains tax hike.
The ECB’s decision to keep copious stimulus flowing came despite its prediction of a strong rebound in the euro zone economy from mid-year as COVID-19 infections are brought under control.
“There were a couple of subtle acknowledgements today that an upgrade to forecasts is likely coming at the June 10 meeting . Lagarde did highlight the pick-up in vaccinations and noted high frequency data are confirming to ECB staff that their previous view of an improvement in the medium-term (is) on course,” said Ray Attrill, head of FX strategy at National Australia Bank.
By Reuters Staff
1 Min Read
FRANKFURT, April 23 (Reuters) - The central banks of the the euro zone, Britain, Japan and Switzerland said on Friday they would discountinue a three-month auction of U.S. dollars created at the height of a pandemic-induced market rout last year.
“In view of the sustained improvements in US dollar funding conditions and low demand.the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank, in consultation with the Federal Reserve, have jointly decided to discontinue offering US dollar liquidity at the 84-day maturity,” they said in a statement.
Russian central bank expected to hike by 25-50 bps Turkish lira worst EMEA performer this week
April 23 (Reuters) - Russia’s rouble rose on Friday before a widely expected interest rate move as tensions with Ukraine de-escalated, while most emerging-market currencies fell but were set for a third week of gains on continued dollar weakness.
The rouble rose about 0.2% to a one-month high of 75.0350 to the dollar. It had jumped 1.6% on Thursday after Russia said it was withdrawing troops from near the border with Ukraine, apparently calling an end to a military buildup that had alarmed the West.
Russian stocks fell 0.3%. The MSCI’s index of EM stocks rose 0.6%