Peru: Morning News Roundup – Friday, May 18


Morning News Roundup
Lima Stock Exchange (BVL) Recap

(LIP-jl) — Lima’s stock exchange (Bolsa de Valores – BVL) fell for the sixth consecutive day yesterday, matching the 6 day winning period it ended last week. Local experts blame the downward turn on continued falling international metal prices, and their subsequent effect on the country’s mining industry. The BVL closed Thursday’s trading session at 21,473 points, a decrease of 0.38% from Thursday’s close. The Selective Index -ISEL (index that groups the 15 leading stocks), closed at 37.118 units, a decrease of 0.74%. Some of yesterday’s most active stocks included: Minera Corona comunes (+14.31%), Pesquera Austral comunes (+5.21%), Electronorte comunes (+3.53%), Minera Andina de Exploraciones comunes (-15.26), Agroindustrial Pucalá comunes (-15%), and Banco Financiero comunes (-10%).

Peru moves to restore bicameral system

(LIP-jl) — Peru moved closer to restoring a bicameral system of government after a Congressional committee approved legislative reform that could lead to the creation of an upper house, or Senate, by 2011. Peru has had a single chamber system since 1992 when then-president Alberto Fujimori dissolved Congress and established a single-Chamber system under the new 1993 Constitution. The proposed upper house will contain 50 members, compared with the 120 legislators, and will have a national constituency. The reform has yet to be approved by Congress as its unlikely to be popular with the public, say analysts.

Japan left in awe over Peru’s tourist attractions

(LIP-jl) — During a four day event held in Osaka, Japan, PromPeru, Peru’s state run promotional agency, showcased Peru’s wonderful attractions to over 40,000 Japanese citizens. With its participation in the Tour Expo Fair of Osaka, PromPeru officially began its activities for the year in the island country. The Osaka event is one of Japan’s most prestigious trade shows and Peru had the tremendous honor of being the lone Latin American representative during the show. Next month, PromPeru will hold a press conference with Japanese travel authorities at the Peruvian Embassy in Tokyo, to raise awareness about Peru’s great attractions to the Japanese public.

Authorities call for the conservation of Cuzco’s Saqsayhuaman ruins

(LIP-jl) — Professional and technical officials from the Saqsayhuaman Archaeological Park, located in Cuzco, Peru, are implementing the "Plan Maestro" (master plan), which outlines its strategy to protect and preserve the Incan site. Washington Camacho Merma, Director of the Saqsayhuaman Archaeological Park, indicated that the plan carefully lists the actions and measures needed to ensure that the site is protected properly. According to Camacho, the biggest challenge in preserving the site is changing visitor behavior, which causes the majority of damage to the park.

Shoeshine boys to learn English in Arequipa, Peru

(LIP-jl) — In an effort to help promote more of a welcoming atmosphere to tourists in Arequipa’s downtown sector, authorities from the Peruvian National Police Tourism Division will provide free basic English courses to the city’s shoeshine boys. According to Arequipa’s Shoeshine workers union, more than 80 workers will take part in the classes, which officials say, will help workers develop other opportunities down the road.