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Britain lifts minimum pay for over 1mn

BUSINESS

Britain lifts minimum pay for over 1mn

The British government says it has increased the minimum wage for more than a million people, but the move has drawn little applause as the pay rise still is far outstripped by inflation in the country.

Iran, Austria sign major basic deal

ECONOMY

Iran, Austria sign major basic deal

Iran and Austria have signed a major basic agreement - worth a total of $2 billion once finalized - to expand cooperation in several areas including the auto sector and the steel industry among others.