Entrepreneurs and investors speak about the need and urgency to increase investment and Scale Up start-up communities in their countries. Yet when it's time to invest capital, the culture of risk impedes the flow of money from the wallets of local investors into the pockets of entrepreneurs.
Peru
Peru's central bank ups reserve ratio for Sol currency
Central Reserve Bank of Peru is increasing local currency bank reserve requirements (reserve ratio) to support its weakening currency Nuevo Sol. The capital reserve ratio will be one percent from March 206 onwards from existing 0.75 percent.
Gramercy seeks over $1.3 billion from Peru
Gramercy said that it will pursue more than 1.3 billion US dollar from the government of Peru over a land bond clash. The dispute relates to bonds issued as per the military dictatorship in the 1960s and 1970s as reimbursement to farmers who lost their lands under the agrarian reform.
Kerry feels heat on Keystone oil pipeline at U.N. climate talks
U.S. Secretary of State John Kerry on Thursday urged countries at U.N. climate talks in Lima to move away from using fossil fuels while demonstrators gathered outside the meeting urged him to reject the Keystone oil pipeline.
Peru's gold output will likely fall 20 percent this year - official
Peru's gold output will likely drop by 20 percent this year and keep falling through 2016 as aging mines churn out less of the precious metal and a government crackdown curbs informal production, a ministry official said on Friday.
Latest News
Colombia-based firm Grupo Energia de Bogota inked a deal valued at $650 million to acquire a 23.61% stake in Peru-based gas pipeline operator Transportadora de Gas del Peru.
Petroperu will be seeking to riase $2.7 billion to fund the modernization and upgrades of its Talara refinery. About half of the funds will come from international investors, Reuters reported.
State-owned oil company Petroleos del Peru SA (Petroperu) is reviving plans to sell as much as 49% of its shares,according to Energy and Mines Minister Jorge Merino.
London-listed Hochschild Mining Plc plans a USD350 million bond issue to finance its expansion projects in Peru and Chile. It intends to invest USD372 million in a silver mine project in Peru and USD1 billion in a gold project in Chile.
Canada-based base metals mining firm Trevali Mining Corp announced the closing of a USD46-million financing through the offering of 55.4 million of its shares priced at USD0.83 apiece.
Canadian gas and oil producer Pacific Rubiales Energy Corp (PREC) announced that it has closed the acquisition of light oil and pipeline firm Petrominerales Ltd.
Teck Resources, Newmont Mining, Magris Resources and private equity firm Blackstone Group are reportedly bidding for Glencore Xtrata's Las Bambas copper mine in Peru. Las Bambas' estimated end-2014 valuation is at USD6.9 billion.
Vena Resources Inc agreed to sell its 50% stake in Minergia SAC, the company's joint venture with Cameco Global Exploration Ltd, to Azincourt Uranium Inc.
A VentureBeat article urged startups to push for involvement in the drafting of the Trans-Pacific Partnership (TPP) Agreement to ensure that provisions in the trade agreement are not biased.
