Business

Peru allows retirees to dissolve private pensions
Posted by Colin Post on Apr 16, 2016 1 comment

Peru allows retirees to dissolve private pensions

Peru’s Congress voted on Thursday to allow retirees to withdraw all of their private pension accounts in cash. By a vote of 84 to two, Congress overwhelmingly overrode a previous  Full Article »

Odebrecht bows out of Peru’s Southern Gas Pipeline
Posted by Colin Post on Apr 8, 2016 Leave a comment

Odebrecht bows out of Peru’s Southern Gas Pipeline

Brazilian firm Odebrecht will sell off interests in public contracts in Peru as the company faces mounting losses and a criminal investigation in Brazil. Odebrecht says it sold its 55% stake in  Full Article »

Pharmacy chain buys competitor in Peru’s fragmented industry
Posted by Colin Post on Mar 23, 2016 1 comment

Pharmacy chain buys competitor in Peru’s fragmented industry

One of Peru’s largest healthcare and pharmaceutical companies has acquired the Arcangel pharmacy chain to better challenge industry leader InkaFarma. Quicorp, the Quimica Suiza holding company and owner of the  Full Article »

Lima stock exchange’s alternatives market doubled in 2015
Posted by Colin Post on Feb 8, 2016 1 comment

Lima stock exchange’s alternatives market doubled in 2015

The Lima stock exchange’s alternative investment market (MAV) nearly doubled to over $22 million in trade volume in 2015. Modeled on the London stock exchange’s AIM, Lima’s alternatives market allows smaller  Full Article »

Hedge fund to sue Peru for $1.3 billion over agrarian bonds
Posted by Colin Post on Feb 3, 2016 1 comment

Hedge fund to sue Peru for $1.3 billion over agrarian bonds

American hedge fund Gramercy Funds Management will sue Peru for $1.3 billion for the government’s failure to pay bonds dated from the 1970s agrarian reform. In a 15-page letter accompanied  Full Article »

Credicorp allies with Grupo Sura to finance infrastructure projects
Posted by Colin Post on Jan 29, 2016 1 comment

Credicorp allies with Grupo Sura to finance infrastructure projects

Credicorp Capital has entered a strategic alliance with Grupo Sura to create a fund to finance highways and other infrastructure projects in both Peru and Colombia. Peru’s largest financial institution  Full Article »

Anti-mining protesters occupy downtown Cusco
Posted by Colin Post on Jan 20, 2016 1 comment

Anti-mining protesters occupy downtown Cusco

Thousands of protesters demonstrated in Cusco’s downtown plaza to demand the repeal of dozens of mining licenses in a sacred region of the Quispicanchi province. Protest leaders say that gold-mining  Full Article »

Las Bambas: Peru’s largest copper mine starts production
Posted by Colin Post on Jan 18, 2016 Leave a comment

Las Bambas: Peru’s largest copper mine starts production

Peru’s Las Bambas copper mine exported its first shipment of copper to China last week. The $10 billion mine in Apurimac which is scheduled to become the world’s second largest  Full Article »

Virgin Mobile to become Peru’s fifth telecom operator in 2016
Posted by Colin Post on Dec 23, 2015 2 comments

Virgin Mobile to become Peru’s fifth telecom operator in 2016

British telecommunications provider Virgin Mobile will become Peru’s first mobile virtual network operator in the first quarter of 2016. Peru’s communications ministry announced it has granted a 20-year license to  Full Article »

Mining company ousts directors over Peru community spat
Posted by Colin Post on Dec 18, 2015 1 comment

Mining company ousts directors over Peru community spat

Shareholders of gold-mining company Minera IRL voted to oust board chairman Jaime Pinto yesterday in a proxy battle which began in a village outside Puno. Yesterday’s vote was the culmination  Full Article »