Guess our 6% pay rise this year fades into insignificance...
Tuesday, Nov 20, 2007
DUBAI (Zawya Dow Jones)--The United Arab Emirates will raise the salaries of civil servants and military officials by 70%, the state-run Wam new agency reported Tuesday.
The increase will come into effect on Jan. 1, Wam reported citing a decision by the UAE federal cabinet.
Cost of living in the UAE, the Middle East's second-largest economy, has been rising steadily as the country benefits from an economic boom and faces decreasing value of its dollar-pegged dirham currency.
In Dubai, which is part of the UAE, thousands of workers have staged sometimes-violent protests at construction sites, protesting their decreased buying power. The UAE government is now mulling a minimum wage for the workers.