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☆ Peru's Castillo faces criminal charges as new president Boluarte takes helm
▼ + stars: | 2022-12-08 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

LIMA, Dec 8 (Reuters) - Peru's former President Pedro Castillo faced a first court hearing on Thursday over his arrest on charges of rebellion and conspiracy, as his successor issued her first pronouncements from the presidential palace. Castillo was ordered to be detained for seven days as the investigation into the charge that he orchestrated a rebellion proceeds. The former president attended the hearing via teleconference from a penitentiary center in Lima where he is being detained. Mexican President Andres Manuel Lopez Obrador has indicated he would be open to granting asylum to Castillo, a fellow leftist. BOLUARTE TAKES OFFICEDina Boluarte, Castillo's vice president, was sworn in as the South American country's new president on Wednesday, making her the sixth president in five years and the first woman to lead the nation of some 33 million.

[1/4] Peru's new President Dina Boluarte arrives to speak to the media at the Government Palace, in Lima, Peru December 8, 2022. That's easier said than done," said Jason Marczak, senior director of the Atlantic Council's Adrienne Arsht Latin America Center. "The last Peruvian president to not belong to a political party, Martin Vizcarra, was impeached by Congress in 2020, leading to a wave of protests," said Marczak. But after Wednesday's events, the 60-year-old Boluarte lambasted Castillo for his "attempted coup." "(Peru's new President) Dina Boluarte is not our president," said Sonia Castaneda at a protest on Wednesday in Lima, where some pro-Castillo demonstrators clashed with police.

☆ Peru President Pedro Castillo Plans to Dissolve Congress Before Impeachment Vote
▼ + stars: | 2022-12-07 | by ( Ryan Dube | ) www.wsj.com time to read: 1 min

LIMA, Peru—Peruvian President Pedro Castillo said Wednesday that he would dissolve Congress hours before he faced a third impeachment vote. Mr. Castillo, who faced removal from office while under investigation for corruption by prosecutors, said in a televised address that he would install an “exceptional emergency government” and that he would rule by decree while new elections for the legislature are organized. He also called for writing a new constitution and said that a national curfew would be imposed on this country of 33 million people.

☆ Peru President Pedro Castillo Ousted After Attempting to Dissolve Congress
▼ + stars: | 2022-12-07 | by ( Ryan Dube | ) www.wsj.com time to read: 1 min

LIMA, Peru—Peru’s Congress overwhelmingly voted to remove President Pedro Castillo from office on Wednesday afternoon, shortly after the Peruvian leader plunged this country into turmoil by announcing he would dissolve the legislature to avoid impeachment. Lawmakers declared Mr. Castillo morally unfit to hold office in a vote that will see Vice President Dina Boluarte take over as the head of state in the mineral-rich country of 33 million. It remained unclear what would happen next in a constitutional crisis that began when Mr. Castillo, a deeply unpopular former rural schoolteacher who improbably won the presidency last year, set out to avoid an impeachment vote that was to take place late Wednesday.

☆ Analysis: Peru markets take in political drama as investors focus on fundamentals
▼ + stars: | 2022-12-07 | by ( Rodrigo Campos | ) www.reuters.com time to read: +3 min

The Peruvian sol currency and dollar bond prices recovered early losses after President Pedro Castillo was removed in an impeachment trial following his attempt to dissolve Congress. The sol remains one of the few emerging market currencies with gains against the U.S. dollar so far this year. "So much political uncertainty is never welcome, yet the reason why markets have historically shrugged off political developments in Peru has to do with the fact that the country's fundamentals are decently strong." The sol fell over 2% against the dollar at its session low of 3.8898 before recovering slightly to trade down 1.4% at 3.8625 per dollar in early afternoon trading. Vice President Dina Boluarte was sworn as president through 2026 and the first woman to lead the Andean nation.

☆ Who is Dina Boluarte, Peru’s first female president?
▼ + stars: | 2022-12-07 | by ( Cnne'S Rocio Munoz Ledo | ) edition.cnn.com time to read: +3 min

CNN —Dina Boluarte took office as the new President of Peru on Wednesday, after Congress ousted former president Pedro Castillo. In this turbulent context, Boluarte, who until a few hours ago was the country’s Vice President, took over as Castillo’s successor after being sworn in before the plenary session of Congress on Wednesday afternoon. She is the first female president in Peru’s history, and the sixth Peruvian president in less than five years. During the 2021 general elections, Boluarte was a candidate for vice presidency for the Peru Libre party and Castillo’s running mate. However, she remained a member of cabinet as vice president.

☆ Peru's president dissolved Congress hours before he faced an impeachment trial and is now calling to rewrite the country's constitution
▼ + stars: | 2022-12-07 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +2 min

Peruvian President Pedro Castillo said Wednesday that he will dissolve the nation's Congress. The embattled president made the annoucement hours before he was set to face an impeachment trial. Castillo assumed office a year ago and has so far survived two impeachment attempts. The president pushed the Andean nation into a fresh political crisis just before lawmakers were scheduled to try for a third time to unseat him from office. "I have decided to irrevocably resign from the position of Minister of Foreign Affairs, given the decision of President Castillo to close Congress... violating the Constitution," said Landa, according to Reuters.

☆ Peruvian politician Boluarte sworn in as president after Castillo's removal
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] Peru's Vice President Dina Boluarte, who was called on by Congress to take the office of president after the legislature approved the removal of President Pedro Castillo in an impeachment trial, attends her swearing-in ceremony in Lima, Peru December 7, 2022. REUTERS/Sebastian CastanedaLIMA, Dec 7 (Reuters) - Peruvian politician Dina Boluarte was sworn in as president on Wednesday, hours after Pedro Castillo was removed in an impeachment trial during a day of high political drama in the Andean nation. Boluarte, elevated from vice president, becomes Peru's first ever female president, following Castillo's attempt to dissolve the legislature by decree to avoid the impeachment vote, which sparked a wave of resignations by ministers and criticism from allies. "I take office being aware of the enormous responsibility I bear, and my first vocation is to call for the broadest possible unity of all Peruvians," she said, calling for a "political truce to install a government of national unity." Reporting by Marco Aquino and Carolina Pulice; Editing by Sarah Morland and Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar falls against major currencies amid economy concerns; yuan strengthens
▼ + stars: | 2022-12-07 | by ( ) www.cnbc.com time to read: +2 min

The U.S. dollar weakened against major currencies on Wednesday amid concerns that rising interest rates could push the U.S. economy into recession, while a loosening of China's COVID restrictions boosted the yuan. The Peruvian sol fell as the country's Congress voted to oust President Pedro Castillo in an impeachment trial on Wednesday. At its session low, the sol fell more than 2% against the dollar. A U.S. dollar index, which measures the greenback against a basket of currencies, was last down 0.4%. "Surging interest rates have been the primary driver for dollar strength over the last year."

☆ Factbox: Peru's presidents and years of political turmoil
▼ + stars: | 2022-12-07 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

[1/2] Police officers stand before people protesting after Congress approved the removal of President Pedro Castillo, in Lima, Peru, December 7, 2022. Here is a rundown of Peru's recent political turmoil. Kuczynski initially denied any ties to Odebrecht, a company at the heart of a political corruption probe that swept the whole region. OLLANTA HUMALA (2011-2016)Humala is facing trial over allegations he received $3 million from Odebrecht during the 2011 presidential election campaign. A charismatic political leader who served two terms, Garcia repeatedly denied the allegations of bribery.

CNN —Peruvian lawmakers have voted to oust President Pedro Castillo, dramatically escalating Wednesday’s political crisis that began hours earlier when Castillo attempted to dissolve the legislative body and install an emergency government. A majority of 101 lawmakers in the 130-person congress later voted to impeach Castillo, with the body announcing that Vice President Dina Boluarte will be sworn in as the new President of Peru. Francisco Morales, the president of Peru’s Constitutional Court, urged Boluarte to assume the presidency in a speech prior to the congressional vote. Lawmakers stand inside Congress on the day of their planned impeachment vote on President Pedro Castillo in Lima, Peru, Wednesday, Dec. 7, 2022. The complaint allows congress to carry out its own investigation against the president.

☆ Analysis: Investors look to emerging markets as planets align for end of dollar bull market
▼ + stars: | 2022-12-06 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

NEW YORK, Dec 6 (Reuters) - As the U.S. dollar tumbles from multi-decade highs, some investors are betting emerging market currencies will be big winners from a sustained reversal in the greenback. Signs of a broader turn in dollar sentiment are visible in the buck’s 8% decline against a basket of developed market currencies from its September highs. "The planets are lining up for a dollar bear market," said Paresh Upadhyaya, director of fixed income and currency strategy at Amundi US. Emerging market currencies have outperformed their developed market counterparts this year, with MSCI's index of emerging market currencies down 5% year-to-date, while the dollar's G10 peers have lost nearly twice as much. Conversely, tightening by central banks around the world also risks sparking a global recession, a scenario some believe could hurt emerging market currencies and help the dollar.

☆ Peru's Castillo says opponents trying to 'blow up' democracy with impeachment trial
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

LIMA, Dec 6 (Reuters) - Peruvian President Pedro Castillo came out fighting on Tuesday ahead of an impeachment trial in Congress, accusing his opponents of trying to "blow up" democracy in the copper-rich South American nation. Peru's congress summoned Castillo last week to respond to accusations of "moral incapacity" to govern, which will precede a congressional vote on whether to oust him. "They intend to blow up democracy and disregard our people's right to choose," Castillo said in a ceremony celebrating the creation of the national police. Congress is also accusing Castillo of incompetence to govern after appointing five cabinets and at least 80 ministers since taking office. The motion to start impeachment required less votes and passed last week with week 73 votes, most from mostly right-wing parties.

Small-scale copper miners are now challenging Big Copper for territorial control of rich deposits of the red metal. In Peru, artisanal mining permits have doubled to 80,000 since 2020, government records show. Peru's leftist administration presented a new framework for artisanal mining last week that declared artisanal mining is "as important" as big mining. "Where we have concessions we can't have (artisanal mining permits)," Rojas said. The number of valid artisanal mining permits in Tapairihua has fallen from 100 to 32 since May, according to government records.

[1/2] People take part in a protest against the electoral reform proposed by Mexican President Andres Manuel Lopez Obrador and in support of the National Electoral Institute (INE) in Ciudad Juarez, Mexico, November 13, 2022. Without opposition support, Lopez Obrador cannot pass his planned electoral overhaul, a constitutional reform which requires a two-thirds majority in Congress. Critics view that as a presidential power grab, something Lopez Obrador denies. If the bill founders, Lopez Obrador has mooted lesser changes that only require a simple majority. Lopez Obrador may have a last chance to reshape the INE when four of its 11 commissioners step down next April.

☆ Indigenous fashion designers, artisans challenge plagiarism on Mexico City runway
▼ + stars: | 2022-11-23 | by ( Aida Pelaez-Fernandez | ) www.reuters.com time to read: +3 min

MEXICO CITY, Nov 23 (Reuters) - Wrapped in colorful haute couture, artisans and indigenous designers took a Mexico City fashion event by storm, all while trying to carve out a sustainable future in an industry threatened by plagiarism, instability and lack of funds. World-renowned brands such as Ralph Lauren and Chinese fast-fashion company Shein have in recent months faced accusations of plagiarizing indigenous Mexican designs, threatening the country's ancient textile tradition. [1/10] Artisan Juana Bravo Lazaro from the Urupan indigenous community, attends the Original Mexican Textile Art meeting, in Mexico City, Mexico November 20, 2022. Plagiarism of ancient indigenous designs has drawn ire from Mexican President Andres Manuel Lopez Obrador. "They plagiarize designs from artisans and indigenous people from Hidalgo, Chiapas, Guerrero," he told a news conference last week.

☆ Peru airport says firetruck on arranged drill before fatal collision
▼ + stars: | 2022-11-20 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

[1/2] A view shows a LATAM airline plane following a collision between a LATAM Airlines jet and a vehicle on the runway of Peru's Jorge Chavez International Airport, in Lima, Peru November 18, 2022. REUTERS/Sebastian CastanedaBUENOS AIRES, Nov 20 (Reuters) - The operator of Peru's capital airport said on Sunday that a firetruck involved in a dramatic and fatal collision with a LATAM Airlines (LTM.SN) passenger jet had been doing a pre-arranged emergency drill. On Sunday, Lima Airport Partners, which operates the airport, said in a statement on Twitter that the firetruck had entered the runway as part of an emergency response drill coordinated between the operator and the air traffic authority. "On Nov. 18, during the morning and until the beginning of the exercise, the firefighting team made all the necessary arrangements to execute the maneuver," the airport operator said. There is authorization to carry out an exercise, but it is outside the areas that currently have transit operations," he told radio station RRP on Saturday.

☆ LATAM Airlines plane crashes on Peruvian runway, two firefighters dead
▼ + stars: | 2022-11-18 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

It was unclear why the firetruck entered the runway while the plane was taking off. This is the second incident in less than a month involving LATAM Airlines, after one of its planes had its nose destroyed during a severe storm that forced it to make an emergency landing. Chile-based LATAM Airlines' Peru branch said it was deploying all its resources to attend to those affected, and work with authorities to support the investigation. Lima Airport Partners, which operates Jorge Chavez, Peru's most important airport, said the airport will remain closed at least through 1 p.m. (1800 GMT) on Saturday. The flight was LA2213, covering the domestic Lima-Juliaca route, LATAM Airlines said.

☆ This 52-year-old early retiree left the U.S. for Portugal—a look at his typical day: 'It's pretty affordable'
▼ + stars: | 2022-11-12 | by ( Alex Trias | ) www.cnbc.com time to read: +6 min

My wife Noki left her nursing job a few years later, and we enjoyed a peaceful retirement in Washington, D.C. Zoom In Icon Arrows pointing outwards Bettina Corallo is located in Lisbon's Principe Real neighborhood. Photo: Alex TriasExploring Lisbon's historic centerDay or night, downtown Lisbon is an active city with plenty of ambiance to soak in. Zoom In Icon Arrows pointing outwards At the farmers' market in Príncipe Real, you'll find dried fruits and homemade pickles. Alex and Noki spend their time in the communal gardens drinking wine, hanging with neighbors, and enjoying views of the Tejo river.

☆ Thousands march in Peru, demanding resignation of leftist President Castillo
▼ + stars: | 2022-11-06 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

[1/5] People carry a Peruvian flag, during a protest against the government of Peru's President Pedro Castillo, in Lima, Peru November 5, 2022. REUTERS/Sebastian CastanedaLIMA, Nov 5 (Reuters) - Thousands of people took to the streets across Peru on Saturday to demand the resignation of embattled President Pedro Castillo, a leftist whose government is under investigation for corruption. Castillo, who took office in July last year, has already survived two impeachment attempts. Opposition legislators are seeking a fresh trial against the president even though Congress recognized it would not gather sufficient votes. In October, Peru's attorney general filed a constitutional complaint against Castillo with Congress that the right-wing opposition hopes will end in his removal from office.

☆ In Argentina, controls spawn soybean and 'Netflix' currency rates
▼ + stars: | 2022-10-19 | by ( Lucila Sigal | ) www.reuters.com time to read: +5 min

The blossoming of parallel foreign exchange rates has gained pace in recent weeks, becoming the target of memes online, one calling the array a "tutti-frutti". But it also reflects a serious risk the government faces to protect dwindling dollar reserves needed to pay back debt. The government and central bank argue that the controls are needed to protect foreign reserves and stabilize the economy. "All these different exchange rates shows a political desperation for dollars," said Eduardo Maehler, 37, a self-employed worker in Buenos Aires. "We know the cost of imposing these controls over time: it always ends in a very deep crisis," he said.

☆ Parkland shooter Nikolas Cruz spared death penalty. Victims' families might be better off.
▼ + stars: | 2022-10-13 | by ( Emilia Benton | ) www.nbcnews.com time to read: +6 min

Though many were shocked he didn’t receive the death penalty, and many victims’ family members were visibly upset by the decision, it’s wrong to assume this would have automatically brought them solace. The lengthy proceedings stirred up decades-old memories of waiting to find out whether my own mother’s murderer would receive the death penalty. It’s the prime example people use when they’re surprised to learn I’m not fervently in favor of the death penalty. Sometimes family members of victims do have clear-cut feelings that the death penalty is needed. It’s time for everyone in this country, from lawmakers to the general public, to prioritize the effect of the death penalty on a victim’s survivors over their own political ideologies.

☆ MMG to invest $2 billion at its troubled Peruvian Las Bambas mine
▼ + stars: | 2022-09-27 | by ( Marcelo Rochabrun | Marco Aquino | ) www.reuters.com time to read: +2 min

LIMA (Reuters) -Chinese miner MMG Ltd expects to invest $2 billion in the next five years to expand its troubled Las Bambas copper mine in Peru and is eyeing potential acquisitions to further increase production, an executive said on Tuesday. FILE PHOTO: General view of a mine operated by MMG Las Bambas, outside of Cusco, Peru October 14, 2021. 2 copper producer and Las Bambas is one of the largest producers of the red metal in the world. Las Bambas opened in 2016 in the Peruvian Andes, but has suffered recurrent disruptions from indigenous communities who say its vast mineral wealth has not translated into better living conditions. Those disruptions reached a new peak this year when members of two neighboring communities settled inside Las Bambas, forcing the company to suspend all operations for over 50 days.

☆ Inflation's impact on small business owners
▼ + stars: | 2022-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation's impact on small business ownersDoris and Marco Montoya of Peruvian Pastries join Brian Sullivan and the 'CNBC Special: The Fed Factor' to discuss how rising rates and inflation are impacting small businesses on Main Street.

Mexico City Mayor Claudia Sheinbaum speaks during the opening of the first clinic exclusively for trans and non-binary people in Mexico City, Mexico October 1, 2021. REUTERS/Henry Romero/File PhotoMEXICO CITY, Sept 23 (Reuters) - Mexico City Mayor Claudia Sheinbaum, a trained physicist vying to become the country's first female president, is hoping her environmental credentials and success in curbing crime will help set her apart in the race for the top job in 2024. Where Mexico City has diverged is in its success in reducing gang-fuelled violence that has for years ravaged the country. In Mexico City it is on track to come down to half the 2018 total. Still, Sheinbaum said the improvement rested on close cooperation between city authorities and federal forces.

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