Venezuela Rises Minimum Wage by 50% to Combat Inflation
Venezuela Rises Minimum Wage by 50% to Combat Inflation
Caracas - QNA
Venezuela's government has announced a 50% increase in the minimum wage and pensions amid runaway inflation.
President Nicolas Maduro said the move will protect jobs and incomes.
Maduro said he was raising the monthly minimum wage to 40,000 bolivars, about $60 at the highest official exchange rate, or $12 on the black market.
It is the fifth increase in one year. The measure would benefit public workers, the armed forces and pensioners, he said.
"In times of economic war and mafia attacks... we must protect employment and workers' income," he said on his weekly television and radio program.
Venezuela's inflation rate, the highest in the world, has gutted the value of the bolivar. The country has been hit by low oil prices, its key export. It has also faced severe shortages of food, medicine and basic goods.
The International Monetary Fund said inflation will reach 1,600% this year.
GMT 09:54 2018 Tuesday ,23 January
Davos-bound bosses very upbeat on world economyGMT 09:37 2018 Tuesday ,23 January
Former KPMG executives charged in accounting oversight scamGMT 22:49 2018 Sunday ,21 January
Brexit special trade agreement possibleGMT 22:46 2018 Saturday ,20 January
China economy rebounds in 2017 with 6.9% growthGMT 22:37 2018 Saturday ,20 January
GE takes one-off hit of $6.2 bn linked to insurance activitiesGMT 19:58 2018 Saturday ,20 January
Watchmakers hope to make Chinese market tickGMT 19:54 2018 Saturday ,20 January
US shutdown unlikely to harm debt rating: FitchGMT 19:50 2018 Saturday ,20 January
EU's Moscovici slams Ireland, Netherlands as tax 'black holes'
With Job Cuts, China Deal
France's Carrefour revamps operations
Paris - Emiratesvoice
France's Carrefour group said Tuesday it is overhauling its business in a transformation plan involving thousands of job cuts, a product revamp and new partnerships in China. Carrefour, which was the world'sTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Emiratesvoice
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onIn Olympic Spotlight
'Friendly and kind' N. Korean skaters
Taipei - Emiratesvoice
North Korea's figure skaters Ryom Tai-Ok and Kim Ju-Sik are "friendly and kind and a little bit shy", South Korea's Kim Kyueun said Tuesday ahead of their hugely anticipated Olympic appearance. The skater is competing with her partner Alex Kam in theFor $11.6 Bn
Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances its presence in specialtyParis show pays homage
to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
GMT 05:06 2024 Tuesday ,06 February
New hunt for flight MH370 gets under way
GMT 06:15 2018 Tuesday ,23 January
Volkswagen clinches record sales
GMT 22:30 2017 Thursday ,01 June
Actress Heidy Karam deals with her work
GMT 15:23 2018 Thursday ,30 August
School bus safety to be enhanced under new transport master plan
GMT 12:19 2012 Wednesday ,22 August
School violence and 'collective sanctions'
GMT 19:13 2016 Monday ,11 July
Aerosmith's Joe Perry collapses at New York concert
GMT 19:36 2016 Friday ,26 August
Univision to hold unity concert ahead of election
GMT 13:40 2017 Friday ,20 January
PSG better option than China
GMT 08:36 2017 Thursday ,09 November
Kobe Steel,Nissan scandals tarnish image
GMT 12:41 2017 Wednesday ,22 February
Saudi Crown Prince Meets US Senator John McCainGMT 08:48 2011 Wednesday ,14 December
Botanical suplements linked to serious illnessGMT 20:24 2011 Saturday ,26 February
Iran rejects nuclear watchdog\'s concernsGMT 14:47 2013 Tuesday ,26 February
Soha Ali Khan thrilled with her new role in Joe B CarvalhoGMT 13:27 2013 Wednesday ,08 May
300,000 day-old babies die each year in India
GMT 14:21 2017 Monday ,14 August
Aqua therapies available in UAEGMT 09:46 2011 Monday ,20 June
DisplaySearch downgrades LCD TV market outlook
GMT 04:33 2016 Sunday ,08 May
NBA playoff results
GMT 19:10 2011 Thursday ,12 May
Japan\'s takeda to buy drugmaker nycomed for $12 bn
GMT 09:29 2017 Tuesday ,27 June
Federal National Council visits UAE soldiersGMT 16:40 2011 Friday ,25 February
Egypt arrests former information minister
GMT 06:54 2017 Tuesday ,01 August
Ali hat-trick sees England thrash South Africa in third Test
GMT 11:52 2017 Sunday ,12 March
NASA reveals strange shape of Saturn's moon Pan
GMT 16:36 2017 Tuesday ,02 May
Rain for parts of Oman
GMT 10:56 2017 Wednesday ,09 August
Netherlands detected insecticide in eggs in November 2016
GMT 12:30 2017 Monday ,04 December
Mining giant Rio Tinto appoints new chairman
GMT 23:08 2017 Wednesday ,28 June
French officials realize Qatari threat
GMT 20:05 2016 Tuesday ,24 May
Berri praises meeting between Tayyeb, Pope Francis
GMT 19:31 2017 Friday ,20 January
3rd GCC organ transplantation, nephrology conference kicks off
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor