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Argentina Union, Business Group Agree 25% Wage Hike, Nacion Says

Argentina’s biggest labor confederation and business group agreed on a 25 percent increase in the country’s minimum wage following government-sponsored talks, La Nacion said.

The base salary will rise to 2,300 pesos ($550) per month, the Buenos Aires-based newspaper said, citing an announcement from President Cristina Fernandez de Kirchner. The General Workers Confederation had sought a 41 percent increase while the Argentine Industrial Union offered an 18 percent hike, the paper reported.