From me to you about Perus

Source: Reuters (Original Article)

SANTIAGO, April 29 (Reuters) - Chilean diversified retailer
Cencosud said on Tuesday its first-quarter net profit fell 61.7
percent compared with the same period last year, citing an
extraordinary gain from a sale in the first quarter of 2007.

Cencosud CEN.SN, one of the Latin America largest
retailers, said profit for the quarter fell to 23.37 billion
pesos ($53.4 million) from 61.09 billion pesos last year.

Consolidated sales rose to 1.13 trillion pesos, up 26.7
percent from 891.29 billion pesos during the first quarter of
last year.

The Santiago based retailer has operations in Chile,
Argentina, Brazil, Peru and Colombia.

($1 = 437.71 Chilean pesos at the end of March)
(Reporting House And Garden Article 4669 by Antonio de la Jara; Writing by Simon Gardner)

Source: BloggingStocks (Original Article)

“While U.S. banks have struggled amid the credit and housing crises, Credicorp (NYSE: BAP) has excelled,” notes John Reese, who assesses stocks based on the strategies of various well-known and time-tested gurus.
Here, the editor of the Validea newsletter looks at the Peru-based banking firm commerical banker and explains how it “passes the test” for four leading guru strategies: Peter Lynch, Martin Zweig, the Motley Fools, and William O’Neill.
“Credicorp’s main subsidiary, Banco de Credito del Peru, actually grew its mortgage business 8.2% in the third quarter of 2007 (the most recent quarter for which data is available) as Peruvians’ purchasing power continued to increase.
“My Peter Lynch-based strategy considers Credicorp a ‘fast-grower’ because of its 42.44% growth rate (based on the average of the three-, four-, and five-year earnings per share figures).
“Lynch famously used the P/E/Growth ratio to identify growth stocks selling on the cheap. By dividing Credicorp’s 19.6 P/E ratio by that growth rate, we get a P/E/G of 0.46, which falls into my Lynch-based model’s best-case category (below 0.5). “Credicorp also gets approval from my Martin Zweig-based strategy, in large part because of its stellar earnings. Zweig targeted companies whose EPS have increased in each of the past five years, and over the past half-decade Credicorp has posted EPS of $0.57, $1.06, $1.70, $2.44 and $3.03, passing the test.
“Zweig didn’t just like earnings to be increasing, though; he also wanted the rate of those increases to be accelerating. While Credicorp’s historical growth rate is a strong 42.44% , its growth rate for the current quarter is an even-better 76.56%, a sign of earnings acceleration.
“Another reason my Zweig model is high on Credicorp: Its sales growth is also accelerating. Last quarter, the firm’s sales grew at a 25.4% rate (compared to the year-ago quarter); this quarter, they are growing at 31.9%.
“Another model that is University Course 80 high on Credicorp is the growth …continue reading

Source: United Press International (Original Article)

California-based Clean Energy Fuels opened the largest compressed natural gas station in Lima, Peru, Monday, the company said.

Peruvian President Alan Garcia Perez, Minister of Energy and Mines Juan Valdivia Romero, U.S. Ambassador to Peru P. Michael McKinley and Andrew J. Littlefair, Clean Energy president and chief executive officer, were all on hand to inaugurate service at the station.

It is owned and operated by Clean Energy del Peru, a joint venture between Clean Energy and Energy Gas del Peru. With thousands of taxis being converted to CNG each month and thousands of buses targeted for replacement as well, the station, located near the downtown area, is the first of several fueling stations Clean Energy del Peru hopes to build.

The use of natural gas in the transportation sector supports the Peruvian government’s fuel diversity objectives for public transportation and will help make optimal use of Peru’s large domestic natural gas supply. Peru St George Platinum has the fifth-largest proven natural gas reserves in South America.

Source: PR Newswire (press release) (Original Article)

Company Formally Celebrates its Listing on the Exchange

CALGARY, Alberta, April 21 /PRNewswire-FirstCall/ — Gran Tierra Energy
Inc. (Amex: GTE; TSX: GTE), a company focused on oil exploration and
production in South America, today announced that the company will be
ringing the opening bell of the American Stock Exchange (AMEX) on Thursday
April 24, 2008, formally commemorating its April 8th listing on the
Exchange.

“This is an exciting time for Gran Tierra Energy,” commented Dana
Coffield, Chief Executive Officer of Gran Tierra Energy Inc. “Our listing
on the American Stock Exchange is a significant achievement for our company
resulting from the cumulative efforts of virtually every individual in our
organization. I am very proud of each and every one of our team members for
helping to transform Gran Tierra Energy into the company it is today. In
addition to increasing the company’s exposure to a broader investing
audience, we believe that our AMEX listing will help to improve liquidity
and provide us with greater flexibility as we execute our plans to drive
top and bottom line growth. This is a win for all parties associated with
Gran Tierra Energy.”

About Gran Tierra Energy Inc.:

Gran Tierra Energy Inc. is an international oil and gas exploration and
production company operating in South America, headquartered in Calgary,
Canada, incorporated in the United States, and trading on the American
Stock Exchange (GTE) and the Toronto Stock Exchange (GTE). The company
holds interests in producing and prospective properties in Argentina,
Colombia and Peru. The company has a strategy that focuses on growing a
portfolio of producing properties, plus production enhancement and
exploration opportunities to provide a base for future growth. Additional
information concerning Gran Tierra Energy is available at
http://www.grantierra.com. Investor inquiries may be directed to
info@grantierra.com or 1-800-916-GTRE (4873). BP Credit Card

Forward Looking Statements:

The statements in …continue reading

Source: RedOrbit (Original Article)

ASARCO Bankruptcy, Environmental Saga Near Climax
Posted on: Sunday, 20 April 2008, 03:00 CDT
WASHINGTON _ Nearly three years after it began, the largest and one of the most complicated environmental-related bankruptcies in U.S. history could be nearing a climax as ASARCO faces billions of dollars in claims amid a struggle for control of the century-old mining and smelting company. The legal drama will unfold during the coming weeks in two south Texas courtrooms and involve half a dozen or so potential buyers, one of Mexico’s richest families and a stake in two of the world’s richest copper mines in the foothills of the Andes Mountains in Peru. Initially, the federal government and more than a dozen states filed $11 billion in claims against the company for the cleanup of 75 sites across the nation, including many listed under the Superfund. In addition, 95,000 asbestos-related claims worth an estimated $2.7 billion and hundreds of millions of dollars in claims from other creditors were submitted to the bankruptcy court in Corpus Christi, Texas. The amounts have been whittled down as ASARCO and the claimants negotiated settlements. No one knows exactly how much ASARCO ultimately could owe, but it’s still thought to be a substantial amount. And no one is sure whether ASARCO will have the money to pay off its creditors after it sells its remaining assets. “We are about down to the lick log here,” said Leif Clark, a San Antonio bankruptcy judge and adjutant professor at the University of Texas School of Law who has followed the ASARCO case. ASARCO officials declined to discuss who might be interested in buying the Tucson, Ariz.-based company’s three remaining copper mines in Arizona, along with a smelter and a refinery. But with the price of copper hovering near a record $4 a pound and roughly $500 million in its bank account, ASARCO could be an attractive purchase. Three of the possible bidders are known: Harbinger Capital Amex Credit Card Partners, a hedge fund; Citigroup Global; …continue reading

Source: Manchester Evening News (Original Article)

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Sarah Howard on graduation day

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Ecuador tour guide tragedy

14/ 4/2008

THE devastated family of tour guide Sarah Howard - killed with four teenage friends in a horrific coach crash in Ecuador - spoke of their heartbreak today.

Sarah’s parents, Pamela and Peter Howard, and her 21-year-old brother Daniel, said they were “devastated” by her death.

In a statement they said: “Sarah was a beautiful, bubbly, intelligent, kind and caring person with a tremendous love of life.”

They described her as: “The kind of person that everybody loved.”

The statement added: “Her loss is indescribable and her friends feel the same way.

“Travelling was her passion. As well as central and south America, she had been to Japan, South Africa, China, New York, Mauritius, Jamaica and many parts of Europe.”

Sarah, 26, from Northwich, Cheshire, died alongside four gap-year students, Lizzie Pincock, 19, Indira Swann, 18, Rebecca Logie, 19, from Chorley, Lancashire, and Emily Sadler, 19.

Twelve others were injured when the chartered coach they were travelling on was hit by a lorry carrying sand.

They were on a 15 week trip.

Sarah was a freelance tour guide leading her first expedition for the Warwick-based gap-year tour company VentureCo Worldwide.

Her brother Daniel, a student at Liverpool Hope University, said his mother Pamela and father Peter, are architects, were waiting for news from Quito, the Ecuadorian capital.

Voluntary work

He said: “We are all just trying to stay strong for the family.”

It is House And Garden Article 3990 understood that Sarah’s party were travelling …continue reading

Source: Manchester Evening News (Original Article)

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Five killed in Ecuador

13/ 4/2008

FIVE young British women killed in a bus crash in Ecuador were named today.

Rebecca Logie, 20, Indira Swann, 19, Sarah Howard, 27, Elizabeth Pincock, 19, and Emily Sadler, 20, died last night as they travelled from the capital Quito to the coastal town of Puerto Lopez.

They were taking part in a trip organised by Warwick-based gap year specialists VentureCo.

Ms Howard graduated from Durham University in 2003, Ms Sadler was a pupil at the private North London Collegiate School for girls, and Ms Pincock left private Taunton School last year, according to their Facebook profiles.

Ms Logie is a member of the Manchester network on Facebook.

Excitement

On her Facebook page Ms Swann, from Maidenhead, Berkshire, a former pupil of The Henley College in Henley-on-Thames, Oxfordshire, wrote of her excitement ahead of spending three months in South America volunteering, learning Spanish and walking the Inca Trail.

She was to have visited Ecuador, Bolivia and Peru, returning in July.

On March 31, on her fourth day in Ecuador, Ms Swann wrote that she was having a “great time” and had spent the weekend in the mountains.

She said: “Im lovin the chilled out vibe here, theres music everywhere and the poeple are very smiley, even if i have no idea what they are saying.”

Return

Also injured in the crash were another 12 Britons, a French national and two Ecuadorians, a driver and a tour guide.

VentureCo said the injured members of the group would return to Quito by air today.

In a statement the company said: “Our deepest St George Credit Cards sympathy goes to those involved and …continue reading

Source: Bloomington Pantagraph (Original Article)

Work-zone safety promoted same day highway worker is injured
Flagger in stable condition Saturday morning
By Bob Holliday
bholliday@pantagraph.com

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UPDATED 10:05 a.m. SHIRLEY — On the same day that a highway construction worker was injured after being hit by a driver in LaSalle County, laborer Steve Whalen had a message for motorists everywhere: “Slow down, pay attention and be aware of your surroundings.” | Injured flagger awarded $14.6M in unrelated case

Whalen, a member of Bloomington-based Laborer’s Local 362, spent Friday morning handing out road safety information at the Interstate 55 Funks Grove rest area as part of National Work Zone Awareness Week.

Hours before, a worker flagging traffic along an Illinois 351 construction site, was struck by a vehicle. To have an accident on a day that work zone safety was being promoted was a “sad irony,” said Mike Matejka, government affairs director of the Great Plains Laborer’s District Council.

Flagger Eliseo S. Escatel, 38, of Peru, was in stable condition Saturday morning at Illinois Valley Community Hospital after attempting to jump out of the way of a Jeep Liberty that did not slow down.

The driver, Delores Henry, 52, of Peru was charged with driving while her license was suspended, failure to stop for a flagger and reckless conduct.

Whalen wished the worker a quick recovery. At the same time, he had some complaints about the way some motorists drive.

“I’ve seen people on cell phones. I’ve seen people eating and reading the newspaper,” he said. “It also bothers me to see people with dogs in their laps.”

A split second of diversion is all it takes to cause an accident, said Whalen, who was volunteering his time at the rest stop to “get the message out.”

Whalen said he knows from experience that working on the Aussie MasterCard roads can be frightening. Not only …continue reading

Source: Times Online (Original Article)

Maple Energy, the oil producer, refiner and explorer in Peru, listed on
AIM and in Lima, gained 26p to 130p. Peru’s sovereign debt was upgraded to
investment grade level by Fitch this week, making the country more
attractive to investors and last month Maple reactived production of its
Pacaya oilfield in the jungle.

Nighthawk Energy continued to soar, up 4¾p to 68.75p, amid talk of a
potential bid and that it was close to extracting its first oil in the US.

Econergy, the developer of wind farms in Latin America whose only
working asset is half a Bolivian hydroelectric station, rose a further 1½p
to 30.5 after Trading Emissions, a green energy firm with biogas
projects in South East Asia said that it had offered a nil premium
share-for-share takeover. Econergy said that it had rebuffed the offer,
which values Econergy shares at 27.5p, as too low. Trading Emissions was
down ¼p at 118.25p.

Dresdner said that Econergy needed new capital while ABN Amro said: “We value
Trading Emissions’ shares at 155p, based on its carbon portfolio alone.”

NCipher, the encryption software firm, soared 50¾p to 177p after it
revealed that it had received several approaches, one or more of which may
lead to a bid. The talk is of a bid above 200p. The shares dived on a profit
warning last month as it is being hit by its exposure to financial services.

MWB Group, the former Marylebone Warwick Balfour, rose 15p to 135p
after it said that its three operating businesses – Liberty department
store, Malmaison hotels and the office provider MWB Business Exchange – had
so far beaten last year’s earnings.

SciSys, the IT consultancy, gained another 1½p to 47.5p after its rival
Microgen, which has built a 12.8 per cent stake, finally confirmed that MasterCard Credit Card it
had met SciSys and was considering a bid.

Source: Reuters (Original Article)

SANTIAGO (Reuters) - Chile’s government on Tuesday publicly apologized after a woman was forced to give birth in the lavatory of a public hospital.

Bernadita Vega, 37, from Peru, arrived at a public hospital in the capital Santiago in labor late on Monday, and waited two hours for a doctor to see her.

Ultimately, her partner helped her deliver a baby boy in a hospital restroom.

“We are very sad about what has happened and worried about this incredible incident, and we are going to take the appropriate measures,” Health Minister Maria Soledad Barria told Radio Cooperativa.

“We must check what happened and ask forgiveness from the family,” she added.

(Reporting by compare credit card Monica Vargas; Writing by Simon Gardner; Editing by Eric Walsh)