Business

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 »

Stalled expansion risks Lima airport’s regional leadership
Posted by Colin Post on May 9, 2016 5 comments

Stalled expansion risks Lima airport’s regional leadership

The construction of a second runway delayed more than a decade threatens to relegate Lima’s airport to being one of South America’s secondary hubs. A contractual dispute between Peru’s government  Full Article »

Oil companies oppose ocean reserve in northern Peru
Posted by Colin Post on May 5, 2016 1 comment

Oil companies oppose ocean reserve in northern Peru

Peru is mulling the creation of a natural reserve to protect marine life in the coastal waters of the northern states of Piura and Tumbes. Peru’s environmental ministry and national  Full Article »

Chile firm buys Repsol’s LPG business in Peru
Posted by Colin Post on Apr 21, 2016 Leave a comment

Chile firm buys Repsol’s LPG business in Peru

Spanish energy company Repsol has sold its Solgas liquid petroleum gas (LPG) unit in Peru to Chilean firm Abastible for $302 million. Repsol sold Solgas in Peru as well as  Full Article »