Tuesday, February 14, 2006
NEW APOYO #s, II: Dow Jones (Robert Kozak) and the Washington Times highlight the new APOYO opinion poll. Dow Jones focuse on the congressional candidates which has Lourdes Flores’ National Union Party polling at 27% which would form the largest block in Congress. APRA polls at 21%, coming in second; Union Para el Peru, led by Ollanta Humala polls is at 15%. NOTE: "The survey from Apoyo on support in Congress broadly mirrors voter intentions for the presidential candidates" released on Sunday. ALSO: "Widely-watched television program Panorama on Sunday broadcast the accusations of a man who said he had been tortured by Humala. Humala said late Sunday that the accusations are attempts to distract attention." The article suggests that the race is most intense between Humala and Alan Garcia, "a skilled campaigner who still faces questions, however, about his disastrous term as president from 1985 to 1990." What those questions may be were not detailed. The Washington Times ran what seems to be a summary of yesterday's AP wire on their Americas Page though it seems like there were additions. It adds color particularly to the Flores candidacy whom they clearly favour: "The 46-year-old lawyer, favored by Wall Street to continue healthy economic growth, has the most support in the upper and middle classes. She came from a family of Mexican migrants to Peru, and she and an older sister were the first in the family to attend college. She earned a bachelor's degree at Stanford University in California and went on to Syracuse University, where she received a master's degree." SEE ALSO: ‘New APOYO #s’ in yesterday’s Peruvia.
PERUPETRO TO PETROPERU: Dow Jones (Rebecca Howard) opines that "investors may be scared off by a new proposal from Congress that folds government agency Perupetro, which signs energy sector contracts, into state-owned fuel refiner and distributor Petroleos del Peru S.A. or Petroperu," according to an interview with Perupetro’s chief Antonio Cueto. NOTE: "Perupetro has made a concerted effort to drum up interest in Peru's flagging oil sector in recent years and has managed to attract significant investment after making contracts more flexible and attractive." ALSO: "President Alejandro Toledo has 15 days to propose changes to the bill or to veto it, although Congress can overturn that veto."
PROTESTANT FREED FROM PRISON: BosNewsLife (Stefan J. Bos) carries a story about Walter Wilmer Cubas Baltas, a Peruvian Protestant, who was freed from prison "after serving 13 years in prison for terrorist crimes he did not commit, human rights groups confirmed." NOTE: "Amnesty International and Christian Solidarity Worldwide said Walter Cubas, a former labor union leader, was released from Lima's maximum security prison Miguel Castro Castro jail on February 1." ALSO: "CSW said it is believed that his participation in union activities at the factory where he worked, played a major role in the detention."
RABBI ARRIVES IN TARAPOTO: Arutz Sheva reports from Tarapoto about Shavei Israel receiving their first rabbi. "Comprising several hundred people, the Tarapoto community consists of descendants of Moroccan Jews who migrated to the area in the late 19th century. Settling in towns in Peru's Amazon basin such as Iquitos in the 1880s, many became involved in local trade and commerce."
JAPANESE-PERUVIANS HONORED: Asahi Shinbum reports on the Japanese Overseas Migration Museum in Yokohama whose collection includes photos and artifacts of emigrants to Peru and Brazil among other places. "Themes include the expanding emigrant presence, the spread of Japanese descendants, anti-Japanese sentiment in wartime and the daily life of emigrants."
MINING:
- Mining Weekly reports that Monterrico Metals is "currently completing the bankable feasibility study on a 50-million-ton-a-year expansion programme at its Rio Blanco copper-molybdenum project in Peru." Dow Jones reports that Antofagasta "is out of the running to acquire a stake in Monterrico Metals Rio Blanco project," according to Monterrico Chief Executive Chris Eager said Monday. NOTE: "Eager cited a dispute between the Luksic family, major shareholder of Antofagasta, and the Peruvian government over a food processing factory. The Financial Times (Rebecca Bream) reports that shares in the British company fell about 16% after news of their production pitfalls. Monterrico’s ails are also noted in the Independent in a market report that suggests, "production is likely to be set back another year as it expands its Rio Blanco copper-molybdenum project in Peru and looks for a partner. Despite the setback the house broker Collins Stewart said the stock is "grossly oversold" at this level, and retained its "buy" recommendation." SEE ALSO: Yesterday’s Peruvia for earlier stories on Monterrico
- BNAmericas reports that Southern Copper "is interested in buying the Tintaya red metal mine."
- Geologix Explorations announced in a press release their "strategic alliance with Newmont Peru S.R.L., a subsidiary of Newmont Mining Corporation to explore a highly prospective geological gold and silver-bearing environment in Central Peru. The alliance will be initially focusing on existing targets and subsequently expanding into untested areas."
- Plexmar Resources offered a press conference to update their work on its Bolsa del Diablo property. "Mapping, sampling and trenching is currently on-going. Over 100 samples are currently being assayed at ALS Chemex Laboratories in Lima." NOTE: "Plexmar controls over 220 km2 of land in Northern Peru near the border with Ecuador. Over 400 artisan miners are pulling gold on a daily basis from trenches or pits located on Plexmar's properties. Most of the miners are located on the Angolos and Molinetes concessions which are both under 100% earn-in options. Artisan workings are now found on adjacent 100% owned properties."
- BNAmericas reports on Romacro and Western Goldfields cancelling their merger. Each company also offer their own press releases, here (Romarco) and here (Western Goldfield).
- BNAmericas reports on how higher prices helped El Brocal 2005 profits "soar over 300%." THe Peruvian polymetallic miner's profits grew to44.4mn soles (US$13.5mn) last year.
MACRO/MICRO ECON:
- Reuters notes that "Peru posted a record high trade surplus in 2005 of US$5.16 billion, the central bank said on Thursday, mostly because of higher mineral exports and a rise in international mineral prices." NOTE: "Exports for the year rose to $17.25 billion from $12.62 billion in 2004. Imports grew to $12.08 billion from $9.82 billion, a reflection of the high economic growth in 2005 of around 6%."
- BNAmericas (Julian Dowling) reports that President Alejandro Toledo "has approved US$120mn in co-financing for the construction of the Angostura dam as part of the Majes-Siguas II irrigation and hydroelectric project" in Arequipa, according to Néstor Díaz, the southern region coordinator for ProInversión. NOTE: "Majes-Siguas II is the second stage of the Majes project, which began with the construction of the Condoroma dam over 10 years ago that currently irrigates some 15,000ha of cultivable land." ALSO: "The dam will be located in Tisco district in the province of Caylloma near the confluence of the Hornillos and Apurímac rivers."
- Bharosa offered a press release about opening new offices in the USA. NOTE: "With this move to expand its operations, Bharosa aims to accelerate the widespread adoption of its products within the financial services industry. Its products are already licensed to three of the top 100 US banks [and] one of the largest financial institutions in South America (Peru's Cavali ICLV SA).
- DeltaThree offers a press release to announce that it is "expanding its presence in the Central, South American and Caribbean markets. Launching strategic partnerships within Mexico, Colombia, Peru, Honduras, and the Dominican Republic has led to a significant expansion of Deltathree's global VoIP network."
- Reuters offers a quick summary of the 4th quarter earnings of Peru’s Credicorp, which holds a 97.3% stake Banco de Credito. "It increased its share in the bank from 90.5% in March 2002 at a cost of $35 million. Credicorp said on Monday its earnings rose due strong growth in consumer banking business, helped by Peru's strong economy. The company also reported a 2005 net profit of $194.9 million compared to $141.5 million in the previous year.
- BNAmericas reports that America Movil plans to invest US$100mn in Peru in 2006.
- BNAmericas reports on President Toledo inaugurating the Chiclayo-Chongaoyape highway, built as a cost of US$27 million.
SPORTS: Reuters continues their updates on the Peruvian football championship fixtures.
OTHER:
- Cuban National News Agency reports that "a campaign of solidarity with Cuba in favor of five Cuban men unjustly imprisoned in the US is underway in Lima, Peru. Several activities have been organized by Peru's Committee for the Freedom of the Five and the Friendship-with-Cuba Centers in Lima and in the port city of Callao." ALSO: "Among the activities scheduled is a Monday poetry recital entitled Con Cuba en el Corazon (With Cuba in Our Heart), in which prestigious Peruvian literary figures are expected to participate" including Peruvian actresses Monica Sanchez and Delfina Paredes.
- NaviGayTion (Andrew Mersmann) offered a travelogue titled ‘Packages from Peru.’ "When travelling in Peru, the best-intentioned souvenir gifts you acquire may very well end up on your own knickknack shelves. Grabbed up from a streetside vendor because they were too inexpensive to pass up, upon closer inspection when unpacking back home, they may seem too good to give away." NOTE: "Many have adopted Americanized names, so you can remember them easily as well. Mercedes Benz, Elvis, Marilyn Monroe and Kevin Costner were all on a first name basis with me in Cusco."
PERU JOINS UN: The Associated Press notes in its ‘Today in History’ post that on February 14, 1945, Peru joined the United Nations.
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