Peru's president-elect Alan García aims to attract foreign investment to expand the country's mining industry, according to his Apra party's manifesto. García beat nationalist former army officer Ollanta Humala in the second round of a presidential election held on Sunday, having secured more than 53% of the vote with some 91% of ballots counted by Monday morning. He is due to take office on July 28. During the election campaign, García, who was Peru's president from 1985 to1990, said he would consider a windfall tax on the mining sector, which is enjoying a boom due to record metal prices.
The weighted average rouble (RUR)-euro exchange rate closed at 34.35 at today's special trading session for today’s deals. This is RUR 0.02 below the official euro exchange rate set by the Bank of Russia. The euro is falling against the rouble for a third straight session, prompted by the dollar's advance on international exchanges.
The Bank of Thailand announced an increase in its key interest rate yesterday, by 25 basis points to 5%, the highest level since 1998. Inflation, which is now 6.2%, has been on the rise in Thailand due to increased global oil prices.
Over 2000 workers employed by a Qatari engineering company have gone on strike, demanding higher wages. The strike has deemed illegal by Qatar ’s Labour Department. The workers include carpenters, plumbers and other semi-skilled and skilled employees, who draw an average salary of $190 a month.