Toledo’s Political Future Seen as ‘Ruined’ Over Real-Estate Scandal

A scandal in Peru over the purchase of two expensive properties by the mother-in-law of former President Alejandro Toledo could end any future plans in his political career in the Andean nation, according to political analyst Fernando Rospigliosi. Rospigliosi, a well-known analyst and Interior Minister in Toledo’s administration, said that the former president has been politically “ruined.” “I think [...]

Canada Promises Support to Peru’s Extractive Industries, Education

Canada has pledged to provide support to Peru in developing its natural resources and improving education, Canadian Prime Minister Stephen Harper said in Lima on Wednesday. Harper met with Peru’s President Ollanta Humala in his first state visit to Peru. While Canadian companies have a strong presence in Peru, particularly in its mining sector, the two countries have [...]

Attorney General Opens Investigation on Toledo over Property Purchases

Peru’s Attorney General’s office has opened an investigation into accusations of illicit enrichment by ex-president Alejandro Toledo in relation to the purchase of two properties that his Belgian mother-in-law has purchased in Lima. Jose Pelaez, the attorney general, said that his office will start a preliminary investigation that will involve a court order to lift [...]

Canada’s PM to Meet with Humala in Lima

Canadian Prime Minister Stephen Harper is to meet President Ollanta Humala at the government palace on Wednesday, in the Canadian official’s first official visit to Peru. Harper is traveling with Canada’s Foreign Relations Minister for the Americas, Diane Ablonczy, Canadian legislators and a group of executives. The officials are expected to discuss economic, education and defense [...]

Junior Miners Feeling Financing Pinch for Peru Projects

Junior mining companies in Peru are feeling the pinch of falling metal prices and a lack of financing to fund exploration projects. A shortage of financing has hit mining companies hard on the Lima Stock Exchange. The bourse is down more than 15 percent so far this year, with the mining sector down 37 percent [...]

Economist Says ‘A Dream’ that Peru’s GDP Will Grow 6% in 2013

Expectations that Peru’s economy will expand by more than 6 percent this year are unrealistic, as the global economy struggles and business confidence in the Andean country weakens, according to Pedro Pablo Kuczynski. The well-known economist, who has served as Peru’s prime minister, minister of economy, and mines and energy minister, said that Peru’s gross domestic product [...]

Andean Future Cities and the Modern Machu Picchu-ish Metropolis

By Rick Vecchio ✐ Peruvian Times Contributing Editor ☄ As part of the process of human evolution and, moreover, human survival, modern cities are due for a transformation. ”They’re going to look more like ancient Machu Picchu than the gleaming towers of glass and steel we have today.” That’s the tantalizing theory posited by Annalee Newitz, a [...]

President Humala Signs Law to Curb Advertising of Junk Food

President Ollanta Humala signed into law Thursday legislation to promote healthy eating and curb the advertising of junk food. The law specifically targets children and youth under the age of 16. It prohibits the advertising of junk food and fast food that targets children and youth. It also aims to progressively limit the amount of [...]

Average Monthly Salary Up for Lima Workers, Except For those Over 45

The average monthly salary for individuals in Peru’s capital of Lima rose 4.1 percent in the latest three-month period, although it declined for those individuals over the age of 45, daily Gestion reported. The National Information and Statistics Agency said the average salary in Lima rose to 1,373.6 soles (approximately $530) in the February to April [...]

Peru’s Economy Not Slowing, Says Finance Minister

Peru’s economic activity is not slowing down, Finance Minister Luis Miguel Castilla said following the release of the weakest monthly economic growth since 2009. On Wednesday, the National Statistics Institute said that Peru’s gross domestic product expanded just 3.01 percent in March compared to the same month last year. The growth in March was the [...]

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