Business

Government Assigns $240 mn For Reconstruction in Northern Peru

Government Assigns $240 mn For Reconstruction in Northern Peru

The Government is assigning an initial 800 million soles (approx. $240mn) to northern Peru, where torrential rains continue to cause heavy damage to homes, farmland and overall infrastructure. Cabinet chief Fernando Zavala made the announcement following an emergency cabinet meeting in Piura and visits to key facilities in the area […]

World Bank: $40 mn Loan for Artisanal Fishing

President Kuczynski signed a loan agreement with the World Bank on Monday for $40 million to finance the national Fishing and Aquaculture Innovation program, PNIPA. The five-year program is designed to strengthen artisanal fishing and small fisheries industries. Artisanal fishing “has a huge future in Peru,” the President said, but added […]

Top Graña y Montero Executives Resign to Save Company

Top Graña y Montero Executives Resign to Save Company

The top three officers of Peru’s No.1 construction and engineering firm, Graña y Montero, resigned Monday night in the wake of a precipitous fall in share prices on the New York (NYSE: GRAM) and Lima (GRAMN) stock exchanges. Share prices fell 27% on the NYSE at closing on Friday, Feb. […]

New Chacahuaro Tunnel Opened on Central Highway

New Chacahuaro Tunnel Opened on Central Highway

President Kuczynski and Transport minister Martin Vizcarra were in Matucana this week to inaugurate the 306m Chacahuaro tunnel on the Central Highway. The tunnel, at Km. 80 and at 2,550 meters above sea level, has been built at a key point on the highway where landslides occur almost every year […]