Greek Seamen End Strike after Reaching Deal on Wage Increase
walkout forced many holidaymakers to seek alternative ways of travelling in a country where tourism is a pivotal industry for an economy which is slowly emerging from a debt crisis.After eight years of austerity prescribed by Greece's international lenders, its euro zone partners and the International Monetary Fund, the left-led government has pledged to reverse unpopular labor reforms and raise wages.Marine unions have strongly resisted wage cuts prescribed by the country's international lenders and reforms liberalizing the shipping sector.(Reporting by Renee Maltezou; editing by Andrew Roche
Kemp: Gulf Migrant Workers Will Be Biggest Victims of Oil Shock
; Intensified efforts at Saudisation of the workforce are a centre piece of the government's programme for adjusting to lower oil prices and creating more private sector employment. Even before the slump, the unemployment rate for Saudi nationals was 11.7 percent, according to the International Monetary Fund. But unemployment was much worse for certain demographic sections including women (33 percent) and young people aged 15-19 (49 percent), 20-24 (41 percent) and 25-29 (22 percent). Unemployment is worse in some politically important and conservative regions, such as Riyadh
Cameroon Raises Salaries as it Faces Opposition to Fuel Subsidy Cuts
prices will lead to higher operating costs and cut into their earnings. Cameroon has long produced both oil and cocoa, but analysts say a lack of reform and political stagnation under President Paul Biya, who has been in power since 1982, have stymied economic growth and development. The International Monetary Fund, which has projected Cameroon's economy to grow by 4.8 percent this year and 5.1 percent in 2015, has for years called for subsidies, which cost around $600 million a year, to be cut. But Cameroon has repeatedly delayed the move following a violent 2008 taxi strike over fuel prices
