Peruvian film “Contracorriente” wins three international festivals

After Peruvian filmmaker Claudia Llosa was invited to join the the Academy Awards roster of voting members for next year, now the Peruvian film “Contracorriente” have won three international film festivals.

Last week, “Contracorriente” won prizes at the festivals in Massachusetts, Slovakia and San Francisco.

It won the People´s Choice Award in the international Festival of Provincetown in Massachusetts.

It also received the Best Movie Award at the ArtFilmFest fetsival in Slovakia, and the award to the Best Opera Prima in the Frameline Festival in San Francisco.

Undertow (Contracorriente), directed by Javier Fuentes-León, is set in a Peruvian port town where a surreal love triangle takes place, one that involves ghosts, secret gay lovers and heavy doses of magic realism.

Mercedes Araoz to consider presidential run

Peruvian Finance Minister Mercedes Araoz said she will consider whether to run for president in 2011, noting that her main concern is to see the country doing well.

"I will contemplate that. I believe that one should always focus on achieving success; and for me, success is public service and help the country do well," said Minister Araoz.

Mercedes Araoz, who served as Minister of Trade and Tourism, said that this is not the time to make a decision as she does not known whether she will run for president or continue to focus on her responsibilities as minister.

In addition, the current Finance Minister pointed out that the government is working towards its goal of promoting social justice and reducing poverty through the provision of basic services such as water, electricity and sanitation.

Minister Araoz stressed that the fight against poverty is not a process that takes only five years, but perhaps even a decade. "And we'll continue to work on this process," she added.

Peruvian cuisine poised to conquer Europe

The "booming" Peruvian cuisine began the conquer Europe through Madrid, the Spanish daily El Pais stated today in a report on renowned chef and businessman Gaston Acurio and the varied cuisine of Peru.

The newspaper report entitled “Bistrot a la peruana” (Peruvian Bistrot) mentions the opening of a new Gaston Acurio's restaurant in Madrid, and stresses that Peruvian cuisine combines Inca influences with Spanish, African, Chinese, Japanese and Italian-inspired dishes.

It also highlights its long list of tasty dishes characterized by its generous portions.

That experience will be precisely enjoyed at Acurio’s Tanta restaurant, including traditional dishes such as causa, yuca a la huancaina, cebiche, tiradito, anticucho, lomo saltado, aji de gallina, pollo nikkei, and spaghetti al rocoto, the daily reported.

Tanta (bread in Quechua) offers a set menu of between 25 - 35 Euros and what the writer (Mario) Vargas Llosa called "one of the most inventive and refined cuisine in the world."

The Spanish daily also notes that the restaurant seeks to become a Peruvian a bistrot (French-style traditional restaurant) similar to a Limean “sanguchería” (sandwich restaurant).

Spanish group El Corte Ingles to promote Peru worldwide

Spanish group El Corte Ingles will support Peru as a tourist destination in its over 3,300 offices worldwide teaming up with Peru’s Export and Tourism Promotion Board (Promperu), CEO Jesus Nino said Wednesday.

The El Corte Ingles is a market leader in corporate travel, servicing both international and national clients in a wide range of sectors including government, financial services, pharmaceuticals, retail, technology and utilities.

“Peru has become a potential tourist destination for travelers around the globe mainly attracted by its gastronomy and history,” he said.

Niño explained that Peru's higher purchasing power has attracted the Spanish group interest to increase its presence in the country.

“Peru is one of the fastest growing economy in America, in terms of number of travellers and number of foreign tourists as well, but tourism still needs to be developed so that Peruvians can enjoy a real travel experience,” Nino added.

Huacas de Moche museum to open in Trujillo

An on-site museum displaying ancient ruins and artifacts of the Mochica culture is set to open in Trujillo, La Libertad, this Thursday June 24 in a bid to educate visitors about Moche traditions and history.

Universidad Nacional de Trujillo Rector Orlando Velasquez Benitez said local authorities are finalizing details regarding the internal layout and technical equipment of "this state-of-the-art museum."

The six-hectare museum will include several exhibition areas, an amphitheater, a research center, a photo gallery and multimedia displays.

"It will have a modern air conditioning system, saving 90 percent of energy consumption,” he said.

At this museum visitors will be able to appreciate several artifacts and tombs of the Mochica Culture which ruled Northern Peru about 1700 years ago.

Peru’s sacha inchi oil wins gold medal in Paris

Peruvian sacha inchi oil, produced by El Cacique, was awarded the gold medal within the framework of the international competition Paris Gourmet – Les Huiles du Monde (World Edible Oils) held at the Foods & Goods in Paris, France.

The granting of this award was made at the Peruvian Embassy in France in the presence of Ambassador Harry Belevan-McBride, President of the Agency for the Valorization of Agricultural Products (avpa) Philippe Juggler and El Cacique president Patrice Vandenberghe.

Sacha inchi is native to the Amazon Rainforest where it has been cultivated by indigenous people for centuries, and will grow in warm climates up to altitudes of 1,700 meters (5,500 feet) as long as there continued availability of water and good drainage.

Sacha inchi protein is considered the best in the world for its amino acid composition and high digestibility, outperforming other oilseeds known for human consumption.

It is highly demanded in Europe, Japan, Canada, the United States and India. France imports Peruvian sacha inchi oil for the cosmetic industry.

Sacha inchi helps to protect the environment as it is a forestation source in the Amazon. It is produced in a social context, sharing benefits with farmers under a biocommerce framework. (Andina)

Peru sees investment projects totaling $36.3 billion through 2012

Investment projects in Peru are expected to total US$ 36.3 billion between 2010 and 2012, Peru's Central Reserve Bank (BCR) President Julio Velarde said Saturday.

The BCR president said that a total of US$ 11.2 billion will be invested in Peru this year, US$ 12.1 billion in 2011 and over US$ 13 billion in 2012.

Velarde mentioned that, based on media reports and companies' press releases, the mining sector attracts the bulk of investments with US$ 3.29 billion in 2010, US$ 5.74 billion next year, and US$ 7.04 billion in 2012.

Followed by the hydrocarbons sector with US$ 2.34 billion this year, US$ 2.38 billion in 2011, and US$ 2.65 billion two years from now. The infrastructure sector ranks third with US$ 2.13 million in 2010, US$ 1.15 billion during 2011, and US$ 644 million in 2012.

During this three-year period, the country's industrial and electricity sectors have also attracted major investment worth nearly US$ 4 billion and US$ 3 billion, respectively. (Andina)

Peru houses one of the most important forest areas on earth

Peru’s Environment Minister Antonio Brack today said Peru houses one of the world’s most important forest areas, which covers 66 million hectares of tropical forest. This provides a great opportunity to act against climate change.

According to the government official, this forest richness will enhance the completion of activities economicaly profitable for the country such as ecotourism.

He also underlined the importance of this tropical forest, because it will secure the financing for the sustainable management of forest areas, he said after highlighting that the climate change is occuring around the world and affecting many countries.

Peru is the second country in Latin America and the fourth in the world in tropical forests and has established a national system of protected areas.

Luxury tourists eager to celebrate their weddings following Inca style

Global luxury tourists are increasingly interested in celebrating their weddings following the Inca style at the citadel of Machu Picchu (Cusco), captivated by the magic and misticism of one of the Seven Wonders of the World, according to Sumaq Machu Picchu Hotel.

"Every time, more tourist couples want to have an Arac Masin, which is an Andean wedding and a millenary ritual in which lovers bring their souls and energy together in highly symbolic and mystic ceremony," said Aníbal Clavijo, general director of Clabe Andina, owner of Sumaq Machu Picchu Hotel.

The Arac Masin has been regarded for years as a symbolic ceremony, celebrated by old civilizations of the southern Andean areas, which has become one of the most attractive activities for tourists, especially for those who spend their honeymoon in Machu Picchu.

This ancient ritual consists of a spiritual affirmation that harmonizes a couple’s union with elements of nature, invoking the Apus, or spirits of the mountains; Pachamama, or Mother Earth; Mama Koka, or Mother Coca; the chaskas, or stars; the Aukis and Achachilas, or light; and Willka Nina, or sacred fire.

All these to make their relation a duality which will traspass eternity.

Clavijo indicated that since the openning of the hotel in 2007, 150 weddings have been held at the citadel.

"A 15 percent of the hotel total sales has been carried out through e-commerce, and ten percent of that 15 percent has been booked for an Arac Masin.”

This ceremony has a great developemnt potencial and is expected to continue growing in the next years.

Goldman Sachs: Peruvian economy to grow nearly 7% in 2010

US investment bank Goldman Sachs sees Peruvian economy expanding nearly seven percent this year, according to a report released by the international organization.

The report finds that Peruvian economy is behaving in an optimal way and shows a strong cyclical recovery within a context in which inflationary pressures are not likely to be a serious concern.

The cyclical recovery of the economy was primarily due to increased investments and higher capital expenditures.

"The strong macroeconomic performance is also reflected in solid public finances and in external accounts data. We expect gross domestic product to expand nearly seven percent this year," the bank holding company stated.

According to Goldman Sachs, Peruvian authorities will need to gradually tighten macroeconomic policies to avoid the economy overheating.

Maple Energy raises US$ 28 million for ethanol project in Peru

Maple Energy, a leading integrated energy company with assets in Peru, confirmed the placing of 43.75 million ordinary shares raising a total of US$ 28 million in international markets such as London (UK), Santiago de Chile (Chile) and Lima (Peru).

“Maple wants to use the placing proceeds to finance the remaining part of its capital contribution requirement linked to the company's Ethanol Project plant in Peru,” affirmed the Chief Executive Officer, President and Executive Director Rex Canon.

On December 2009, Maple Energy signed a contract with a Peruvian engineering and construction company which will provide installation of all major pieces of equipment for the Ethanol Project's plant in Piura, northern Peru.

The project will have the capacity to process about 5,000 tones of sugar cane per day for producing up to 35 million gallons of fuel-grade ethanol per year.

“This transaction is very important for the company as it will allow us to complement our capital contribution requirement for the ethanol project”

Peru Overheating Report Is ‘Exaggerated,’ Araoz Says

Peruvian Finance Minister Mercedes Araoz said reports that the economy is overheating are “exaggerated” and that any new steps to cool growth are the responsibility of the central bank.

The government, which forecasts growth of 5.5 percent this year, has moved to reduce fiscal spending and doesn’t see the need for additional cuts “for the moment,” Araoz said today at the Bloomberg Peru Economic Summit in Lima.

“An economy growing at 6 percent isn’t overheating,” Araoz said. “Overheating is growth of 9 or 10 percent.”

Peru’s gross domestic product expanded 8.8 percent in March from a year earlier, the biggest increase since September 2008, the government reported last month. The economic recovery has “more room to run in the coming months,” Morgan Stanley said in a June 7 report, raising its forecast for growth this year to 7 percent from 4.9 percent.

The government has spent 93 percent of a two-year, $4.8 billion fiscal stimulus plan introduced after the global financial crisis sapped private investment, Araoz said. More than half the funds went to infrastructure projects, she added.

Peru’s central bank unexpectedly raised its benchmark interest rate last month to 1.5 percent from a record low 1.25 percent amid forecasts that the economy may expand at the fastest pace in Latin America. The increase, which surprised all 12 analysts surveyed by Bloomberg, was the second in the region in more than a year, following Brazil’s raising of the Selic on April 28.

Tightening Cycle

The bank, in a statement accompanying the decision, said the “preventive” increase “doesn’t imply the start” of a tightening cycle.

The central bank will raise its reference rate for a second consecutive month when policy makers meet tomorrow, according to 10 of 12 economists surveyed by Bloomberg.

The government is studying the sale of bonds to pre-finance next year’s fiscal deficit which will be no more than 1 percent of GDP, Araoz said. The country will return to a surplus in 2013, she said.

The government may issue bonds in the international market in anticipation of “potential turbulence” ahead of presidential elections in April, the ministry said Feb. 27.

“The outlook for the country is very solid and we’re not expecting a political shift to the extreme left” or to a government that is “too populist,” Araoz said.

Any advance by nationalist leader Ollanta Humala in pre- election polls is likely to lower asset prices and spark capital outflows, Bank of America said in a report last month.

Peru’s sol rose 0.1 percent to 2.8425 per dollar at 11:53 a.m. New York time.

The Lima Stock Exchange’s General Index climbed 1.7 percent to 13,852.28, the biggest intraday rise in almost two weeks.

Bloomberg - John Quigley

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

Over 13400 tourists hiked Inca Trail to Machu Picchu since reopening

Over 13400 domestic and foreign tourists hiked Inca Trail to Machu Picchu Archeological Park since its reopening on April 1, the anthropologist and head of the archeological park Fernando Astete Victoria reported.

He also noted that the tourist flow is normal along the alternative route toward the country's main tourist destination affected by landslides.

The route is lined with 17 archaeological sites: Salapunku, Q’anabamba, Willkarakay, Q’entimarka, Patahuasi, Runkuraqay, Sayaqmarka, Qonchamarka, Phuyupatamarka, Yunkapata, Wiñaywayna, Intipunku, Choquesuysuy, Chachabamba, Waynaq’ente, Torontoy and Qorihuayrachina.

“The National Institute of Culture (INC) is responsible for the maintenance of Inca Trail as well as its monitoring and surveillance in any emergency case,” the anthropologist and head of the Park said after remarking that tourists are primarily young people.

According to INC figures, about 200 tourists walk the Inca Trail to visit Machu Picchu daily.

President Garcia meets with Bill Clinton in Lima

Peruvian President Alan Garcia is now meeting with former U.S. President Bill Clinton at the Government Palace in Lima.

Clinton arrived at the presidential palace accompanied by members of his Foundation, which was established with the stated mission to "strengthen the capacity of people throughout the world to meet the challenges of global interdependence."

The meeting, which began at 10.30 hours (15.00 GMT) in the palace's Hall of Ambassadors, is attended by Peruvian Ambassador to the U.S. Luis Valdivieso. (Andina)

Highly engineered Inca channel discovered in Cuzco

A 3,6 kilometers long highly engineered Inca aqueduct was discovered by Spanish cavers and experts from the National Institute of Culture (INC) of Cuzco at the top of Salapunku Archaeological Park, located in the town of Piscacucho, in the district Ollantaytambo, province of Urubamba (Peru).

The rough area, at over 2,630 meters above sea level with slopes of 100 degrees in solid stone, was not an obstacle for the Inca engineers of 550 years ago.

They built the channel to carry the waters from the Huaytampo ravine on the slopes of the Veronica ice-covered mountain, to the Inca reservoir Qhanabamba, parallel to the Ollantaytambo-Machu Picchu railroad, between kilometers 82 and 85.

According to specialists, the area where the cave paintings were found could have been a shrine to the sun, the moon and the lightning.

Fernando Astete, head of Machu Picchu Archaeological Park and connoisseur of the finding, reported that they have been working for three years based on an agreement between the Universidad de Jaime I of Castellón (Spain), the INC-Cuzco and the Ukupacha project. (Andina)

OAS delegations to enjoy cebiche, causa, lomo saltado & other delicacies in Peru

Cebiche, causa de atún, lomo saltado, ají de gallina, arroz chaufa, suspiro limeño and mazamorra morada are some of the Peruvian culinary delights to be sampled by the delegations attending the 40th General Assembly of the Organization of American States (OAS) set for June 06-08.

A variety of dishes representing the rich, local cuisine will be prepared by Peruvian restaurant chain Punta Sal, which will provide catering services during the meeting at Lima's Museo de la Nacion (National Museum).

The event will feature a diverse buffet including traditional dishes such as cebiche, papa a la huancaína, causa de atún, ají de gallina and lomo saltado.

The visiting government officials as well as Peruvian and foreign journalists will also enjoy a vegetarian buffet which includes varieties such as ensalada novoandina and saltado de verduras.

Since no Peruvian meal is complete without dessert, the event's buffet will offer the traditional suspiro limeño and mazamorra morada, as well as a Peruvian-style fruit salad. And to wash all these delicacies down: chicha morada and fruit juices will be served to attendees and media members.