RIYADH (Reuters)
Several Saudi companies, including state-owned oil conglomerate Saudi Aramco, have decided to raise wages by 15-40 percent to offset the impact of rising inflation on employees, al-Riyadh newspaper reported on Wednesday.
Inflation climbed to its highest in at least a decade in September, raising growing discontent over living expenses.
Aramco decided earlier this week to raise wages of lower-level employees by 10 percent and agreed lesser increases for mid-level and top management, the paper said.
Mobile telephone operator Etihad Etisalat (Mobily) has decided to raise wages by 20-40 percent for its 2,800 employees, the newspaper reported a company official as saying.
The newspaper said it had seen documents showing that Saudi Investment Bank has decided boost the salaries of all employees by 15 percent from January.
A report in September said state-controlled Saudi Basic Industries Corp. would raise wages by 6 percent.
King Abdullah summoned officials in October to explain rising prices and a committee of his advisors called for a national wage hike.
Saudi Arabia raised wages in 2005 by 15 percent, and many Saudis are holding out for another government salary hike.
The United Arab Emirates, whose currency is also pegged to the tumbling dollar, said last month it would raise the salaries of federal government employees by 70 percent as of the beginning of 2008. |
