This week begins with a series of significant global events. Israel faces a national strike amidst a hostage crisis, while US leaders campaign on Labour Day. In Asia, South Africa’s president visits China, and India’s West Bengal Assembly holds a special session to pass an anti-rape bill. Other key events include the opening of Gala Precision Engineering’s IPO, the release of India’s manufacturing PMI data, and Vedanta Ltd’s board meeting to discuss a third interim dividend.
On May 1st, Labour Day strikes organized by major labour unions in Greece, including the Panhellenic Seamen’s Federation, Civil Servants’ Confederation, and Greek General Confederation of Labor, are anticipated to significantly disrupt travel and public transportation services, particularly in major cities like Athens. The strikes aim to protest the government’s decision to move the Labour Day holiday to May 7th. Anticipated demonstrations and rallies are expected throughout the country, with increased security measures implemented near protest sites. Travellers are advised to confirm their travel arrangements in advance and be prepared for potential delays and disruptions. As a safety precaution, it is recommended to avoid protest areas and follow any instructions provided by law enforcement officials.
May 1st is commemorated as Maharashtra Day, celebrating the state’s establishment, while also recognized as Labour Day, honoring the contributions of workers. Banks, equity markets, schools, and offices will be closed in Maharashtra on this day. Other Indian states, including Karnataka, Tamil Nadu, and West Bengal, will also observe Labour Day with similar closures.
Banks in India will remain closed for up to 14 days in May 2024 due to various holidays, including Sundays, second and fourth Saturdays, and state-specific observances.
