Peru

China's prez unveils megaport in Peru, locals say they're being left out

On the edge of Peru's coastal desert, a remote fishing town where a third of all residents have no running water is being transformed into a huge deep-water port to cash in on the inexorable rise of Chinese interest in resource-rich South America. The megaport of Chancay, a USD 1.3 billion project majority-owned by the Chinese shipping giant Cosco, is turning this outpost of bobbing fishing boats into an important node of the global economy. From the presidential palace in Lima, 60 kilometers (37 miles) south of the port inauguration ceremony, China's President Xi Jinping watched a livestream of the ribbon-cutting alongside his Peruvian counterpart, Dina Boluarte, late Thursday. The leaders' faces appeared on a giant screen in Chancay, where engineers in bright orange safety vests declared the port operational to the swell of string instruments. Chinese dancers with red dragon-costume heads seemingly burst out of nowhere to prance around the docking station as a crane lowered the ..

Biden arrives in Peru for summit as world leaders brace for Donald Trump

President Joe Biden arrived Thursday in Peru to start his six-day visit to Latin America for the final major international summits of his presidency, even as world leaders turn their attention to what Donald Trump's return to the White House means for their countries. The visit to the Asia-Pacific Economic Cooperation summit in Peru and stops in the Amazon rainforest and at the Group of 20 leaders summit in Brazil offer Biden one of his last chances as president to meet with heads of state he's worked with over the years. But world leaders' eyes are firmly affixed on Trump. They already are burning up Trump's phone with congratulatory talks. At least one leader, South Korean President Yoon Suk Yeol, is dusting off his golf clubs, in case the chance to bond with the golf-loving Trump should present itself. White House officials insist that Biden's visits will be substantive, with talks on climate issues, global infrastructure, counternarcotic efforts and one-on-one meetings with glo

Diminished Biden heads to APEC summit in Peru, overshadowed by China's Xi

If things had gone differently last week, U.S. President Joe Biden could have arrived at the Asia-Pacific Economic Cooperation forum in Peru on Thursday projecting confidence and pledging his successor's cooperation with eager Latin American partners. No longer. Just as in 2016, the last time that Peru's capital Lima hosted APEC, Donald Trump's election victory has pulled the rug out from under a lame-duck Democrat at the high-profile summit attended by over a dozen world leaders. The renewed prospect of Trump's America First doctrine hampers Biden's ability to reinforce the United States' profile on his first presidential trip to South America, experts say, leaving China and its leader, Xi Jinping, to grab the limelight in America's proverbial backyard. President Xi's first order of business in Peru is inaugurating a $1.3 billion megaport that will put China's regional influence on stark display. Total investment is expected to top $3.5 billion over the next decade. This isn't the

Trump faces setback in South American trade as China gains ground in Peru

That's made Beijing the go-to trade partner from Brazil to Chile and Argentina, eroding Washington's regional political clout, a trend that widened under Trump's 'America First' inward turn during his

Peru's ex-President Toledo gets over 20 yrs in prison for corruption case

Peru's former President Alejandro Toledo on Monday was sentenced to 20 years and six months in prison in a case involving Brazilian construction giant Odebrecht, which became synonymous with corruption across Latin America, where it paid millions of dollars in bribes to government officials and others. Authorities accused Toledo of accepting $35 million in bribes from Odebrecht in exchange for allowing a highway to be built in the South American country. The National Superior Court of Specialized Criminal Justice in the capital, Lima, imposed the sentence after years of legal wrangling, including a dispute over whether Toledo, who governed Peru from 2001 to 2006, could be extradited from the United States. Odebrecht, which built some of Latin America's most crucial infrastructure projects, admitted to US authorities in 2016 to having bought government contracts throughout the region with generous bribes. The investigation by the U.S. Department of Justice spun probes in several ...

Alberto Fujimori, Peru's former prez, buried after 3 days of mourning

Controversial former Peruvian President Alberto Fujimori was buried Saturday after three days of national mourning in which thousands of supporters lined up outside a museum in Lima to visit the politician's casket. Peruvian President Dina Boluarte saluted the former president before his burial at a pompous ceremony held in the presidential palace, where his casket was saluted by soldiers dressed in 19th-century uniforms. But Boluarte did not speak about Fujimori, a divisive figure who ruled Peru for a decade, and whose eldest daughter is now one of the country's most influential politicians. Fujimori died of cancer on Wednesday at age 86. He was Peru's president from 1990 to 2000 and had been in prison for most of the past 15 years after being convicted of crimes against humanity. Fujimori was a university professor when he burst onto Peru's political scene in the early 90s. His administration helped to put the nation's economy on track following years of hyperinflation, and defea

Alberto Fujimori, Peru's ex prez dies at 86 after tumultuous tenure

Alberto Fujimori, whose decade-long presidency began with triumphs righting Peru's economy and defeating a brutal insurgency only to end in a disgrace of autocratic excess that later sent him to prison, has died. He was 86. His death Wednesday in the capital, Lima, was announced by his daughter Keiko Fujimori in a post on X. He had been pardoned in December from his convictions for corruption and responsibility for the murder of 25 people. His daughter said in July that he was planning to run for Peru's presidency for the fourth time in 2026. The former university president and mathematics professor emerged from obscurity to win Peru's 1990 elections over writer Mario Vargas Llosa. He took over a country ravaged by runaway inflation and guerrilla violence, mending the economy with bold actions including mass privatizations of state industries. He also defeated fanatical Shining Path rebels, winning him broad-based support. Fujimori, who governed Peru from 1990 to 2000, was sentence

Magnitude 7.0 earthquake hits Peru's Arequipa region, no deaths reported

Small artisanal gold mines operate in the town of Yauca and other neighboring towns near the coast, but there was no information available so far about any impact

Peru eases Chinese port dispute ahead of president's meet with Xi Jinping

The government had requested in March the annulment of its decision to give Hong Kong-based Cosco Shipping Ports exclusive rights

Peru to adopt UPI technology, first South American country to do so

India's NIPL inks pact with Peru's central bank to develop the technology

India, Peru set to thrash out issues on free-trade agreement document

The two nations are aiming to share the document and offer a list of services as well as goods before the seventh round, scheduled to begin in New Delhi on April 8

Peru declares health emergency in 20 provinces as dengue cases soar

Peru declared a health emergency in most of its provinces on Monday due to a growing number of dengue cases that are occurring at a time of higher than usual temperatures caused by the El Nino weather pattern. According to the nation's health ministry, the number of dengue cases registered during the first seven weeks of this year is twice as high as during the same period in 2023 with more than 31,000 cases recorded. This is a grave problem, health minister Cesar Vasquez said last week, before the emergency was declared. And it is getting out of hand. The health emergency will enable the nation's government to transfer funds faster to the affected regions and also transport doctors and nurses. It will cover 20 of the country's 24 provinces, including regions that surround the capital city of Lima. A dengue epidemic last year put Peru's public health system under strain as thousands sought care in emergency rooms. The disease is spread by Aedys Egypti, a mosquito that reproduces

Next round of talks on India-Peru free trade agreement pact likely in April

The next round of negotiations between India and South American nation Peru for a free trade agreement is expected to start in April, an official statement said on Thursday. The officials of the two countries concluded the sixth round of talks in Lima on February 14. The proposed agreement is aimed at promoting bilateral trade and investments between the two countries. In such pacts, two trading partners either significantly reduce or eliminate customs duties on the maximum number of goods traded between them, besides easing norms to promote trade in services. "The 6th round of India-Peru negotiations for a trade agreement was held from February 12 to 14, 2024, in Lima, Peru, to continue the work that started in 2017 when the negotiation process was formally announced," the commerce ministry said. In this round, nine working groups held in-person meetings on trade in goods, rules of origin, trade in services, movement of natural persons, customs procedures and trade facilitation,

Duty concession on gold will be concern for India in FTA with Peru: GTRI

Duty concessions on gold, which accounts for 80 per cent of India's imports from Peru, is the most challenging issue for New Delhi under the proposed free trade agreement with the South American nation, a report said on Sunday. Economic think tank Global Trade Research Initiative (GTRI) said that gold, a high-value product with low volume, attracts a 10 per cent basic customs duty in India, and even minor tariff concessions could lead to a significant increase in imports. India and the South American nation Peru are negotiating a free trade agreement to promote bilateral trade and investments between the two countries. In such pacts, two trading partners either significantly reduce or eliminate customs duties on the maximum number of goods traded between them, besides easing norms to promote trade in services. The next round of talks is expected to start this week in Lima, Peru. "Tariff concessions on gold, accounting for USD 1.8 billion or 80 per cent of India's imports from Peru

India-Peru trade pact: Next round of negotiations to begin on Feb 12

The next round of negotiations between India and South American nation Peru for a free trade agreement is scheduled to start on February 12, an official said. The proposed agreement is aimed at promoting bilateral trade and investments between the two countries. In such pacts, two trading partners either significantly reduce or eliminate customs duties on the maximum number of goods traded between them, besides easing norms to promote trade in services. "The sixth round of negotiations for a proposed trade agreement between India and the South American nation Peru is scheduled from February 12-15," the official said. Issues which are expected to figure in the negotiations include rules of origin, trade in goods, customs procedures and trade facilitation, technical barriers to trade, sanitary and phytosanitary measures. Negotiations for the agreement started in 2017 and the fifth round was concluded in August 2019. The negotiations were paused due to the coronavirus pandemic. Duri

Negotiating trade pact with EU, UK, Sri Lanka, Peru: Commerce ministry

India is negotiating free trade agreements with the European Union (EU), the UK, Sri Lanka, and Peru, according to a year-end review statement of the commerce ministry. India-European Union (EU) free trade agreement negotiations were formally re-launched on June 17 2022. "Negotiations cover 23 policy areas/chapters. Six rounds of negotiations have been held till October 2023," the ministry said. With the UK, 13 rounds of talks have been completed and the next round will take place in January 2024. "India-Sri Lanka Economic and Technology Cooperation Agreement (ECTA) negotiations are ongoing with the 12th round of negotiations conducted from 30th October to 1st November 2023 in Colombo," it said. It added that both sides also agreed to continue discussions on matters, including apparel quotas and pharmaceutical procurement. With Peru, it said discussions on various chapters, including rules of origin, trade in goods, trade facilitation, sanitary, and phytosanitary measures were ..

India, Peru to hold trade talks on furthering investments from Oct 10: Govt

The next round of negotiations for a trade agreement between India and South American nation Peru will start from October 10, an official statement said on Monday. The agreement is aimed at promoting bilateral trade and investments between the two countries. With the pact, the two trading partners will significantly reduce or eliminate customs duties on maximum number of goods traded between them. "A special round of negotiations for the India - Peru trade agreement is scheduled to be held virtually on 10-11 October," the commerce ministry said. During the negotiations, the two sides will discuss different issues, including rules of origin, trade in goods, customs procedures and trade facilitation, technical barriers to trade, sanitary and phytosanitary measures. "Discussions on services, movement of natural persons (professionals), trade remedies and investment chapter will be held later in the month based on mutual convenience of the negotiators," the statement said. Negotiation

8 mummies, pre-Inca objects uncovered while expanding gas network in Peru

Some archaeologists describe Peru's capital as an onion with many layers of history, others consider it a box of surprises. That's what some gas line workers got when their digging uncovered eight pre-Inca funeral bales. We are recovering those leaves of the lost history of Lima that is just hidden under the tracks and streets, Jesus Bahamonde, an archaeologist at Calidda, the company that distributes natural gas in the city of 10 million people, said Friday. He said the company's excavation work to expand its system of gas lines over the last 19 years has produced more than 1,900 archaeological finds of various kinds, including mummies, pottery and textiles. Those have mostly been associated with burial sites on flat ground. The city also has more than 400 larger archaeological sites that have turned up scattered through the urban landscape. Known as huacas in the Indigenous Quechua language, those adobe constructions are on top of hills considered sacred places. The number of re

Peru looks at exporting avocados, fresh grapes, blueberries, gold to India

The two countries started negotiations for an FTA in 2017

India, Peru to resume FTA discussions to promote commerce, investment

The official also said that Chile has also shown interest in a trade deal with India. Both countries had in 2005 also signed a preferential trade agreement