Current Affairs Global - 5 May 2014

1. The opposition leader and Panama's vice-president Juan Carlos Varela won the Presidential election in Panama held recently. He secure nearly 40% of the votes while Jose Domingo Arias from ruling party got nearly 32% votes in the election. The ruling party has still never won re-election in Panama since 1989.

Juan Carlos Varela Rodríguez has been Vice President of Panama since 2009. Along with President Ricardo Martinelli, he was elected on May 3, 2009 and sworn in on July 1, 2009.

2. Ahmed Maiteeg was elected as Libya-s new prime minister after receiving 121 votes in parliament on 4th May. He was sworn in and given two weeks to form a cabinet. He won against political analyst Omar al-Hassi.

His election came in the second session of the day as he failed to secure 120 votes in the first session of the day. He is a businessman born in the coastal city of Misurata who studied economics in London. He is supported by the Islamist bloc in parliament.

3. The European Commission has raised its growth forecast for the European Union consisting of 28 nations for current year 2014. The 28 nations of the EU are projected to grow by 1.6% for 2014 compared to 1.5% project 3 months back. Growth projection of 18-nation euro zone remained unchanged at 1.2%.

Europe's biggest economy, Germany is expected to grow by 1.8% in 2014 while France-s economic growth will be around 1%. Unemployment in the euro-area is expected to fall to 11.4%, from 11.8% in March.