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July 20, 2011 10:52:22

Peru stock market calms towards inauguration of Humala

peru
The Lima Stock Exchange reacted negatively on news of leftist Ollanta Humala's election, but has recovered to pre-election levels as the incoming president signals a centrist approach. (Photo: LivinginPeru.com)


By Carlos Arias Vernal

Since March 2011, the Peruvian economy has decelerated as a result of a halt in private investment. Many companies have withheld from doing further investments until having more clarity about how the new government is going to handle the economic policy.

The Peruvian economy has been growing at an average rate of 5.7% over the last 10 years and at a rate of 7.2% over the last 5 years. In order to keep growing at a significant pace it needs to keep private investment engaged.

This deceleration is in great part a result of the perception of incoming president Ollanta Humala's changing messages.

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April 20, 2011 12:03:49

Prima AFP, Peru’s biggest pension fund, bets on price rebounds

By John Quigley
Bloomberg.com 


peru
Alejandro Perez-Reyes, head of investments at Prima AFP, in a 2010 TV interview.

Prima AFP, Peru’s biggest pension fund manager, is taking advantage of the biggest stock selloff in more than two years and declines in the country’s bonds and currency to buy assets as a bet prices will rebound after presidential elections.

Stocks are undervalued after the country’s benchmark index plunged 8.9 percent last week following candidate Ollanta Humala’s victory in the first-round ballot, said Alejandro Perez-Reyes, head of investments at the Lima-based company.

Foreign investors have fled Peruvian securities on concern that a Humala victory may stunt economic growth and sap profits in the mining and energy industries, Perez-Reyes said.

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March 16, 2011 16:39:33

Wall Street celebrates Peru Day

peru
Ismael Benavides, Peru’s finance minister, rings the closing bell on the NYSE after Peru Day. (Photo: Ben Hider/NYSE Euronext)


By Andrea López Cruzado/The Wall Street Americas
Translated and edited by Nathan Paluck

On Friday Wall Street drank pisco.

The New York Stock Exchange dedicated March 11 to Peru, to highlight its outstanding economic growth these past years and its potential for international investors.

Representatives from around 100 companies and reporters from global media agencies gathered early Friday morning to hear from Peruvian officials and top executives why it’s worth betting on Peru.

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February 8, 2011 14:20:12

How will the Peru-Colombia-Chile stock integration work?

peru
The stock market integration between Colombia, Chile and Peru would create the second largest exchange in Latin America. (Photo: Efe news agency)


By Carlos Enrique Arata

Due to the growing interest in cross-investment between Chile, Colombia and Peru, the three South American countries have been working on an integration of their stock markets since August 2008. The integration, currently called MILA, seeks to boost the economic development in these countries, and if completed, will create the second largest stock market in Latin America behind the Brazil exchange.

But what is really involved in this integration? In this first stage of the integration, the stock exchanges and settlement institutions involved have agreed to allow:

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June 7, 2010 9:34:40

IBM launches microfinance IT service platform in Peru

By Alberto Limache Ramírez, El Comercio
Adapted from Spanish by Diana Schwalb

The conditions for investment and growth in Peru prompted IBM to develop a center to provide microfinance services in this South American country.
Jaime Garcia Echecopar announced IBM's entrance into the microfinance sector.

Jaime Garcia Echecopar, general director for IBM in Peru, Bolivia, Ecuador, Paraguay and Uruguay, announced the launch of this project.

You have taken up positions in various subsidiaries of IBM in the region. Now that you are back in Peru, what are your thoughts on the Peruvian technology market?
I have returned to Peru in a spectacular moment. Investment conditions are at their best. And we have human resources of the best quality. It's a special moment and precisely one of our strategies is investment focused on emerging countries.

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February 24, 2010 12:10:36

An interview with Peru's Interbank: Doing business in China

In 2007, Interbank opened its first office in China to offer services to Peruvian companies entering the giant Asian market. Here, El Comercio talks with Ernesto Gonzalez Quattrini of Interbank about prospects in China.

By Claudia Paan
For
El Comercio

http://filer.livinginperu.com/00Ernesto Gonzalez Quattrini, Head of Corporate Affairs at Interbank since April 2007.
Ernesto Gonzalez Quattrini, Head of Corporate Affairs at Interbank since April 2007.

How have Peruvian businesses developed in 2009?
The interest to explore the Chinese market was growing: In 2009, around 400 companies exported to China; five years ago there were half. The number of importers has also doubled to 11,000 in the last five years.

How was your reception?
Overall it was successful, which is demonstrated by the growing number of companies and products that do business each year between China and Peru. If we have grown this much without the FTA, the future is obviously very promising with the tariff preferences that will apply starting March of this year.

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August 11, 2009 13:16:27

The currency exchange market and a vacation budget

by
ForexTraders.com

How can the currency exchange rate affect my travel budget?
Everyone wants to have enough money on a vacation to enjoy all the attractions that make a holiday enjoyable. Planning a vacation to another country can be a struggle unless you have an understanding of the currency exchange market. A travel budget is not accurate unless current currency exchanges values are used to create your travel budget. Exchanging currency when you arrive or right before you depart on a holiday can destroy a vacation budget and ruin your trip. Planning a vacation in another country takes time, patience and some help from a reliable currency exchange professional.

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February 24, 2009 20:39:58

The Executive has a Simplistic Analysis

Luis Felipe Gamarra - El Comercio
Translation: Vanessa Castro Chesterton - Living in Peru

Leslie Pierce is a man of few words. Sensible, discrete and cautious. Leslie Pierce is a man of few words. Sensible, discrete and cautious. He only makes public appearances once a year to discuss Alicorp’s fiscal performance. However, Pierce considers there is reason enough to stand up and say something. On one hand the Executive considers that the price of oil must still be reduced by a %15 margin. On the other, the Dumping and Subsidies commission of the Indecopi has just reduced the sanction against Argentinean oil, which was put into action in 2002 to allow the market to lower oil prices. To Alicorp, oil is a product which brings in 30% percent of its income, a product which has given it a 60% advantage over the market total, and thus a very important subject.

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May 23, 2007 10:29:12

Peru: An evaluation of recent regulation of the derivative financial instruments



AmCham PeruInfo provided and translated by the
American Chamber of Commerce of Peru (AmCham Peru)



By Walther Belaúnde, Partner, Acerta Asesores and President of the Committee on Tax Matters

With derivative financial instruments (IFD) being the tools that contribute to a suitable plan to neutralize market price variations, it is convenient to analyze the most important aspects of the long-anticipated IFD tax regulations. Particularly the operations with IFD that were contracted outside the country, since these were the operations that were subject to the greatest criticism by the Sunat.

Positions of the Sunat before the Results Obtained in the Operations with IFD

1) Until 2005, whenever the results generated by IFD contracted outside the country were negative (a loss), the Sunat did not accept the deduction of the loss on the basis of an erroneous interpretation of Article 51 of the Orderly Unique Text of the Income Tax Law (TUO), which establishes that resident taxpayers will compensate one another for the results of their sources that produce foreign income, and only if these operations result in net income, will they be added to their Peruvian income.
Evidently, Article 51 of the TUO was not applicable to IFD contracted outside Peru, since the taxpayer who is resident of Peru and contracts these instruments is not carrying out an activity abroad. In effect, simply contracting an IFD outside of Peru cannot be considered as undertaking an activity abroad, another reason why cases of coverage IFD are treated as goods or services located in Peruvian territory.

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November 13, 2006 13:44:22

Interbank interest rates in Peru remain at 4.5 percent

(LIP-wb) -- The Board of Peru's Central Bank announced in an official press release its approval to maintain the reference interest rate for the interbank market at 4.50 percent, considering that:

a. Inflation continues to be at the lower band of the announced target range (1.5 – 2.5 percent), as a result of which the estimated evolution of inflation described in the Inflation Report of September stands. Thus, in the 2006-2007 forecast horizon, inflation would temporarily settle at the lower band of the target range –due to the reversal of the increase in the price of some food products–, converging gradually to 2.5 percent.

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