Tuesday, May 22, 2007

Strikes, Takeovers Threaten Mubarak Plans to Sell Egypt's State-Run Plants

(Bloomberg) -- The biggest wave of labor unrest since
World War II is rattling the government of Egyptian President
Hosni Mubarak as thousands of workers stage strikes and occupy
factories.

Fueling the unrest: Anger over stagnant wages and reduced
benefits as Egypt seeks to sell state-run factories and end four
decades of socialist-influenced economic policies. Workers have
also been emboldened by political protests in Cairo and other
cities, where small groups of dissidents are calling for an end
to the quarter-century rule of Mubarak, 79.


Read more at Bloomberg Exclusive News

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