Singaporeans will go to the polls for a general election on May 6. Candidates will be announced on April 27. This is Prime Minister Lee Hsien Loong's first election as Prime Minister. He took over from Goh Chok Tong in August 2004, and had been deputy Prime Minister for fourteen years before then. Lee's ruling People's Action Party now controls all but two of the 84 seats in Parliament.
According to Czech Prime Minister Jiri Paroubek the anti-flood measures in the Czech Republic may cost more than 50 billion Czech koruna (1.8 billion).
The government wants to take a loan from the European Investment Bank and possibly issue bonds to raise the money. It has earmarked 5 billion koruna to repair flood damage and for anti-flood measures from the state budget.
JP Morgan has opened an equity trading operation at its Mexico City office to enhance the bank's capital markets and investment banking capabilities for clients doing business in Latin America. JPMorgan will now execute trades directly with the local stock exchange through its own stockbroker.
The share of homeowners in Colombia has reached 63%, from 60% four years ago, the president of Colombian real estate federation Fedelonjas, Sergio Mutis Caballero, said. A total 30% of Colombians live in rented accommodation. The Colombian National Savings Fund extended mortgage loans worth over $100 billion Colombian pesos ($40 million) in the first quarter of 2006.
Morocco is attracting investment in outsourcing centres for banking, insurance and information technology firms. On Tuesday, co-president of the French-Moroccan economic promotion group, Jean-RenŽ Fourtou, announced that the Capgemini consulting group has decided to install call centres in Morocco. A Vivendi Universal director said that Axa group and Banque Nationale de Paris are also considering opening outsourcing centres in Morocco. Call centres in the country already employ around 10,000.
Ukraine's Khreschatyk bank intends to sell a 10% stake to a foreign investor, the president of the bank Dmytro Gryjuk said. The transaction will help the bank to determine its real market value. The bank also plans to issue bonds worth 100 million Ukrainian hryvnia this year, with maturities of between five and seven years. Khreschatyk's bonds have been rated B by Fitch this year, the same as last year.