Business

Peru: Chinese imports devastate Lima’s garment district
Posted by Colin Post on Sep 20, 2016 1 comment

Peru: Chinese imports devastate Lima’s garment district

Alleged dumping of Chinese textiles into Peru threatens hundreds of thousands of jobs in Gamarra, Lima’s historic garment district. Over 200,000 jobs have been lost and another 400,000 are at  Full Article »

Peru changes bankruptcy law in bid to save historic La Oroya smelter
Posted by Colin Post on Aug 26, 2016 1 comment

Peru changes bankruptcy law in bid to save historic La Oroya smelter

Peru’s Congress has passed a bill that would extend the terms of liquidation for bankrupt companies in an effort o save the La Oroya smelter in Junin. The legislative session  Full Article »

Peru’s trade minister aims to double exports and tourism
Posted by Colin Post on Aug 12, 2016 Leave a comment

Peru’s trade minister aims to double exports and tourism

Peru’s new trade minister Eduardo Ferreyros has announced his goal to attract 7 million tourists to Peru and export $70 billion of goods per year by 2021. Given Peru exported  Full Article »

Law may open foreign investment in Peru’s border regions
Posted by Colin Post on Aug 5, 2016 1 comment

Law may open foreign investment in Peru’s border regions

Legislators in Tacna and Tumbes are looking to attract hundreds of millions of dollars in investment by amending Peru’s Constitution to allow foreign capital into border regions. Article 71 of  Full Article »

Peru pipeline closed for six more months following third oil spill
Posted by Jack Dylan Cole on Aug 1, 2016 1 comment

Peru pipeline closed for six more months following third oil spill

Peru’s Northern Peruvian Pipeline will remain closed until at least 2017 after its third spill in five months. Peru’s government ordered the closure of the 40-year-old pipeline following two oil spills  Full Article »

Peru steelmaker closes plant, cites dumping from China
Posted by Colin Post on Jul 27, 2016 Leave a comment

Peru steelmaker closes plant, cites dumping from China

Peru steelmaker Aceros Arequipa announced it will close its plant in Arequipa due to its inability to compete with cheap steel imports from China. The company said in a statement  Full Article »

Hedge fund sues Peru for $1.6 billion over agrarian bonds
Posted by Colin Post on Jun 2, 2016 1 comment

Hedge fund sues Peru for $1.6 billion over agrarian bonds

Gramercy Funds Management has filed a $1.6 billion claim against Peru for its refusal to redeem land bonds from the 1970s agrarian reform. The Connecticut-based hedge fund has requested arbitration  Full Article »

Peru mobile-payment system aims to expand access to finance
Posted by Colin Post on May 27, 2016 1 comment

Peru mobile-payment system aims to expand access to finance

Peru’s new digital wallet, Bim, has attracted almost 80,000 users in its first three months since launching in February. Bim does not require a bank account to sign up. Users  Full Article »

Peru and cocoa firm in legal spat over Amazon plantations
Posted by Colin Post on May 25, 2016 1 comment

Peru and cocoa firm in legal spat over Amazon plantations

Peru’s environment ministry has issued a statement to the London stock exchange stating that United Cacao has engaged in illegal deforestation in the Amazon. The statement is the latest development  Full Article »

Mining protests flare up during Peru’s election season
Posted by Colin Post on May 12, 2016 Leave a comment

Mining protests flare up during Peru’s election season

Thousands of protesters marched in Peru’s southern states of Puno and Arequipa following developments on local mining issues. The protests in Puno’s city of Juliaca and Arequipa’s Islay province come  Full Article »