Mexican magnate Carlos Slim announced investments of $3.7 billion, more than 40 billion Mexican pesos, in social programs. The funds will be disbursed through the Carso and Telmex foundations, mainly to health and education projects.
Turkey’s economy recorded higher than expected GDP growth of 7.5% in the second quarter of 2006, bringing its growth streak to 18 consecutive quarters. Construction sector was once again the fastest growing sector of the economy at 13.7%.
Thai prime minister Thaksin Shinawatra said he expects the country’s general election to be held in November. Meanwhile Thai senators elected a new Election Commission on Friday. The earlier set date of October 15 has been cancelled as there will not be enough time for the new Election Commission to prepare for the elections.
Chinese Finance Minister Jin Renqing said he continues to focus on foreign exchange reforms, in particular two policies: creating more favourable conditions for foreign exchange reforms in state owned enterprises, and relaxing regulations to enable the market to determine the foreign exchange rate