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    Lebanon hikes minimum wage by 40%

    Lebanon's cabinet has increased the minimum wage by 40 percent to 700,000 pounds (467 dollars, 345 euros) a month in a last-minute bid to avert a nationwide strike that was planned for Wednesday.

    After more than seven hours of talks that ended shortly after midnight, Information Minister Walid Daouk announced a hike of 200,000 pounds for monthly wages under one million pounds. The measure raised the minimum wage from 500,000 pounds to 700,000 pounds.

    The government also ordered a wage increase of 300,000 pounds on all salaries between one and 1.8 million pounds.

    General Labour Confederation chief Ghassan Ghosn said on Wednesday that while the strike had been suspended, the wage increase remained unsatisfactory.

    Private sector employers rejected the government decision outright, however, warning it could lead to "inflation, unemployment and lay-offs."

    "This spells the final blow to the private sector in Lebanon," said Adnan Kassar, head of Lebanon's assembly of economic organisations, told reporters.

    He called on private employers "not to implement the measures until they are reassessed."

    Meanwhile, private schools went on strike independently on Wednesday and have called for another one-day strike on October 19.

    The minimum wage in Lebanon has twice been increased since the end of the 1975-1990 civil war, most recently in 2008.

    The country witnessed record growth rates in recent years, but projections for 2011 have dropped following a protracted government crisis earlier this year and amid political unrest in neighbouring Syria.

     

    14 comments

    • true justice  •  7 mths ago
      what lebanon is producing ???? never see something "made in Lebanon"
      the poor country is rulled by Hassan Nasralah.
      he is rich and fat - have good income from his iranian supporters - the rest of lebanon ?? who cares .
      • A Yahoo! User 7 mths ago
        YOU'RE AN IDIOT
    • Brenda M  •  7 mths ago
      salaam,
      Must collect yearly growth allowance is at least Double value
    • Brenda M  •  7 mths ago
      salaam,
      Comptrollers methods is depleting money TREEE system
    • Brenda M  •  7 mths ago
      salaam,
      Never did complete GDP accountings had two steps adding then multiplying by at least Double value to know growth allowance in governmental warranty funds
    • Brenda M  •  7 mths ago
      salaam,
      Up stream of money flow is not down stream is not where money grows up stream firsty
    • Brenda M  •  7 mths ago
      salaam,
      MUST collect GDP growth allowance began in 1948 year door opened should have been to complete GDP accountings,,,so that money exchanged at face value,,,rather than cheaters menu depletes money Tree
    • Brenda M  •  7 mths ago
      salaam,
      Banks should have been over flowing with money
    • Brenda M  •  7 mths ago
      salaam,
      Same amount reported yearly,,,is saving account year totaled since 1948
    • resident  •  7 mths ago
      Yep!-----------And still there is no electicity, gassoline, or even wheat to make bread. 40% of 0 is still 0. Funny people these Muslims are!!!-----------NEXT.
    • Alleycat  •  7 mths ago
      Too little , too late!!!!!!!!!
    • michael  •  7 mths ago
      Most are still poor
      The only way out is to
      blow themselfs upp and reach paridise
      • JMAN 7 mths ago
        What an intelligent person you are! They don't have suicide bombings in Lebanon buddy!
      • A Yahoo! User 7 mths ago
        LEARN ENGLISH. TRY AGAIN TEATARD
    • Hithere08  •  7 mths ago
      dignity 4 all
    • Templar  •  7 mths ago
      A new law in a lawless country!
      • A Yahoo! User 7 mths ago
        YOU'RE RETARDED, AREN'T YOU?
      • Templar 7 mths ago
        Lebanon is a mini Iran for now, Fact.
    • Randy  •  7 mths ago
      angry Muslims in the streets... what else is new?
      • JMAN 7 mths ago
        Thats funny that you say that because there are angry Jews all over the streets of NY, Boston and LA
      • A Yahoo! User 7 mths ago
        OH RANDY. YOUR TEATARD COMMENTS ARE AWESOME.
      • Dana 7 mths ago
        check the information before you post stupid comments like these Randy ! Lebanon is the only christian country in the middle east! whoever speaks arabic does not make him muslin!
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