South Africa's biggest metalworkers union said on Thursday that it had accepted a three-year wage offer in the steel and engineering sector, paving the way for a strike to end. NUMSA, which has around 155,000 members in the sector, launched the strike early this month to press for higher salaries in a move that hit output at carmaker BMW and threatened more auto assembly lines.
South Africa's biggest metalworkers union said on Thursday that it had accepted a three-year wage offer in the steel and engineering sector, paving the way for a strike to end. NUMSA, which has around 155,000 members in the sector, launched the strike early this month to press for higher salaries in a move that hit output at carmaker BMW and threatened more auto assembly lines.
Lancashire Holdings Ltd. (LCSHF) warned Thursday that it will suffer more than $200 million in losses due to recent political and natural catastrophe events. The Bermuda-based, U.K.-listed insurance company said it should incur aggregate net ultimate losses in the range of$ 165 million and $185 million due to Hurricane Ida and severe weather in Europe. Political violence and unrest in South Africa during 2021 will also translate into estimated ultimate net losses of around $40...
JOHANNESBURG--South African consumer prices rose 5% in September due to sharp increases in the cost of transport, food and housing, Statistics South Africa said Wednesday. This marks the fifth consecutive month where annual inflation in Africa's most developed economy is higher than the midpoint of the central bank's target range of between 3% and 6%, setting the stage for potential interest-rate increases in the coming months. In August, annual inflation was 4.9%.
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