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02 October 2023

Oman Cement among firms raising wages

By Agencies


Oman Cement Co is among several companies that plan to increase the salaries of their employees, the local Al Shabiba reported on Tuesday, as rising inflation erodes real wages.

Oman Cement will give employees a 27 per cent raise, company Chairman Qahtan bin Yaroub said, according to the newspaper.

Sultan Qaboos on Saturday ordered an increase of up to 43 per cent in state workers' wages. The increase takes effect this month.

Oman inflation accelerated for a seventh straight month to a 16-year high of 8.29 per cent in December as the weaker dollar-pegged rial drove up food costs, raising pressure on the central bank to fight rising prices. (Reuters)