Tunisia Syndicates Call for Biggest Strike Within Public Sector Institutions

Tunisia Syndicates Call for Biggest Strike Within Public Sector Institutions
TT

Tunisia Syndicates Call for Biggest Strike Within Public Sector Institutions

Tunisia Syndicates Call for Biggest Strike Within Public Sector Institutions

Tunisian General Labor Union continued its series of syndicate meetings held by some of the most prominent public sector institutions, in order to rally the union and popular support to carry out the largest general strike in public sector institutions on October 24.

This step raised fears of repeating the strike, which took place on January 26, 1978, resulting in dozens of casualties and the imprisonment of union leaders during the rule of former President Habib Bourguiba.

President of the Tunisian General Labor Union (UGTT) Noureddine Taboubi held a meeting on Wednesday that included major public sector companies, public transport company, the Tunisian Company of Electricity and Gas, and TunisAir.

These companies are threatened to be privatized due to major financial difficulties and the failure of several plans to restructure them over the past years, which means that thousands of workers must be abandoned and that is precisely rejected by the labor union bodies.

In a meeting held at the headquarters of the labor union with the workers of the public transport company, Taboubi stressed the commitment of union leaders to public sector institutions.

He pointed out before hundreds of trade unionists, who criticized the government, that employees pay about 75 percent of the direct tax, weakening their purchasing power.

He also called for uniting the union rules with the labor union for the success of the public strike, so that public sector institutions remain for all Tunisians.

Meanwhile, Tunisia’s UGTT announced its commitment to the public strike.

It suggested establishing a supreme planning body to deal with the government and end the economic and social crises by controlling new economic strategies, away from traditional references.

On the other hand, Executive Director of the Tunisian Appeal Party Hafez Qayed al-Sibsi and Head of the Free Patriotic Union (FNP) Salim Riahi announced during a press conference on Wednesday a new distribution of leadership positions.

This came following the announcement of the political integration of the two parties.



Gold Firms; Focus on US Data for Cues on Fed's Policy Path

FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo
FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo
TT

Gold Firms; Focus on US Data for Cues on Fed's Policy Path

FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo
FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo

Gold prices hovered near a four-week peak on Thursday, while focus shifted to jobs report due on Friday for clarity on the Federal Reserve's 2025 interest rate path.
Spot gold edged 0.1% higher to $2,664.30 per ounce, as of 0732 GMT. US gold futures rose 0.4% to $2,681.80
"Prices are trading in a narrow range ... A new trigger is needed for gold to breach its resistance," said Ajay Kedia, director at Kedia Commodities in Mumbai.
The bullion hit a near four-week high in the previous session after a weaker-than-expected US private employment report hinted that the Fed may be less cautious about easing rates this year.
The market now awaits US jobs report on Friday for more cues on the Fed's policy path.
Investors are also awaiting Donald Trump to take office on Jan. 20 and his proposed tariffs and protectionist policies are expected to fuel inflation.
Policymakers at the Fed's last meeting also "noted that recent higher-than-expected readings on inflation, and the effects of potential changes in trade and immigration policy, suggested that the process could take longer than previously anticipated," the minutes showed on Wednesday.
Bullion is considered an inflationary hedge, but high rates reduce the non-yielding asset's allure.
"We believe the bulk of the rally has been put in and that while gold's upward momentum may carry it higher in the near term and in early 2025, a combination of physical and financial market factors may tame the rally and drive gold moderately lower by the end of next year," HSBC said in a note.
Elsewhere, physically-backed gold exchange-traded funds (ETFs) registered their first inflow in four years, the World Gold Council said.
Spot silver added 0.2% to $30.17 per ounce, platinum dropped 0.3% to $952.54 and palladium shed 0.8% to $921.37.