Peru: Morning News Roundup – Wednesday, June 6

Morning News RoundupLima Stock Exchange (BVL) Recap

(LIP-jl) — Lima’s stock exchange (Bolsa de Valores – BVL) closed the week’s second trading session with its fourth consecutive gain. The BVL closed Tuesday’s trading session at 21,340 points, an increase of 2.04% from Monday’s close. The Selective Index -ISEL (index that groups the 15 leading stocks), closed at 37.151 units, an increase of 2.18%. Some of yesterday’s most active stocks included: Motores Diesel de inversión (+15.32%), Explosivos de inversión (+15.08%), Filamentos Industriales de inversión (+9.52%), Agroindustrial Pucalá comunes (+7.55%) y Minera Morococha de inversión (+7.21%).

Canada-Peru trade boom

Thanks to a strong increase in Peruvian exports of gold to Canada, Peru has replaced Venezuela as Canada’s third-largest trading partner in Latin America, according to an analysis by Latin Business Chronicle. Last year, Canadian imports from Peru grew by 54.5 percent to 2.1 billion Canadian dollars (approximately US$1.9 billion), according to Statistics Canada. "The strong increase in imports from Peru is due to rising mineral prices and an increase in production in Canadian gold mines in Peru," says Brooke Grantham, a spokesman for Ministry of Foreign Affairs and International Trade. Gold and other precious metals accounted for 53.4 percent of Canada’s imports from Peru. Other leading imports include copper and copper-related products, zinc, lead and other ores and concentrates. Meanwhile, Canadian exports to Peru grew by 9.5 percent to 289 million Canadian dollars. All in all, Canadian trade with Peru increased by 47.2 percent to 2.4 billion Canadian dollars. (Latin Business Chronicle)

Peru: The fisherman is a predator like any other

For Peru fishing is a prime source of foreign exchange, second only to mining. The country’s anchovy fishing fleet, which seeks the Peruvian anchovy Engraulis ringens, is the world’s largest single-species fishery, with an average of 8% of global landings. For safety and monitoring purposes, vessels have the statutory obligation to be equipped with satellite geopositioning indicators, seeing that industrial-scale fishing is prohibited within a band of 5 nautical miles (about 9 kilometers) from the coast. This satellite device, the vessel monitoring system (VMS), gives the real-time position of the vessels to an accuracy of 100 m, communicated to bodies responsible for vessel movement recording and scientific monitoring of fishing. Scientists from the IRD and the Peruvian Institute of the Sea (IMARPE) used this high-resolution spatial information to characterize vessel movement in campaigns targeting shoals of this anchovy species, a pelagic fish that usually lives and builds up off the coasts. These methods shed light on the spatial interactions between fish and fishermen and enabled researchers to devise new tools that could improve monitoring and hence operational fish stock management. (Institut de Recherche Pour le Développement)

Preventive measures on Fujimori demanded in Chile

Chilean lawmakers demanded on Monday that judicial authorities take preventive measures on former Peruvian President Alberto Fujimori (1990-2000) so that he cannot leave the country illegally. Deputy Antonio Leal pointed out that along with Human Rights Attorney Federico Aguirre and other representatives, he asked a judge to order security measures, so that the crimes committed by the ex Peruvian president do not remain unpunished, Radio Cooperativa reported. Fujimori, who was arrested in Chile in November 2006, is awaiting extradition to Peru on charges of corruption and human rights violations during his administration. For his part, Attorney Aguirre said that there is enough evidence to extradite Fujimori to Peru. If the court rejects that request, the Chilean government must try Fujimori according to international law. (Prensa Latina)

Brazil’s GOL Airlines announces May traffic stats

GOL Linhas Aereas Inteligentes S.A. , the parent company of Brazil’s low-cost airline GOL Transportes Aereos S.A. ("GTA", that operates the GOL brand) and VRG Linhas Aereas S.A. ("VRG", that operates the VARIG brand), today released preliminary passenger statistics for the month of May 2007. In the domestic market, the Group’s load factor for the month was 70% and in the international market, the Group’s load factor was 45%. The Group’s total load factor for the month of May was 64%. GTA’s domestic passenger traffic (RPK) for May 2007 increased 37% and capacity (ASK) increased 35% year-over-year. Domestic load factor for the month was 70%. International RPK for May increased 144% and ASK increased 220%. GTA’s international load factor for the month was 47%. Total RPK increased 44% and ASK increased 47% year-over-year. GTA’s total load factor for the month was 67%. Average fares were reduced approximately 21% versus May 2006. VRG’s domestic RPK for May 2007 was 152 million and ASK was 237 million. Domestic load factor for the month of May 2007 was 64%, an increase of eight percentage points over April 2007. International RPK for May 2007 was 127 million and ASK was 298 million. VRG’s international load factor for the month was 42%. VRG’s total load factor in May 2007 was 52%. (earthtimes)