World Bulletin / News Desk
President Francois Hollande's Socialist government will limit a planned increase in France's minimum wage to 2 percent, leading business daily Les Echos reported on Thursday without citing sources.
An official decision on the rise will be taken on June 26, when the government is due to meet with union leaders, the newspaper said.
Hollande had made boosting the minimum wage one of his campaign promises in the runup to his victory in May's presidential election, and is under pressure from unions to stick to his commitment.
In initial talks with union leaders last month, he reiterated his pledge, but struck a cautious note, saying he needed to avoid destabilising small businesses which faced stiff competition from abroad.
Les Echos said a 2 percent rise as of July 1 would take the gross minimum wage to 9.40 euros an hour, adding 27 euros a month to workers' pay packets. But taking into account inflation the "real" rise would only be 0.6 percent, the paper said.
Days after Russian regulator demeaned cryptocurrency, it breaks new records
The figure was slightly lower than analysts had forecast, following a 1.4 percent hike in overall prices in August.
Two parties to work for promoting sustainable economic growth in Developing 8 countries
Investors will also be tracking the start of an EU summit where Brexit will once again be the focus of attention.
BIST 100 index rises 0.45 pct while US dollar/Turkish lira rate stands at 3.67
Bank expects Turkey's strong growth performance to continue in Q3, World Bank Country Director for Turkey says
Industrial production marks first increase in three months, while manufacturing production comes below market expectations
While optimism remains over the world economy and corporate earnings -- helping push global markets to all-time or multi-month highs -- investors moved carefully as they await the next catalyst.
BIST 100 index rises 1.18 pct while US dollar/Turkish lira rate stands over 3.63
BIST 100 index falls 0.24 pct while US dollar/Turkish lira rate climbs to 3.69
National Bank of Ethiopia says devaluation of its currency necessary to boost exports
In its latest forecast, the IMF predicted the Russian economy will expand by 1.8 percent in 2017 and by 1.6 percent in 2018.