The upcoming upgrade of the Talara oil refinery, in Peru's northern Piura region, is the most complex and modern large-scale project of all the Pacific coast, Peruvian Energy and Mines Ministry (MEM) said on Thursday. 

Peru is now the fourth largest recipient of Foreign Direct Investment (FDI) inflows in Latin America and the Carribean, according to the Economic Commission for Latin America and the Caribbean (ECLAC). 

Transportadora Callao has officially opened a $163 million concentrates shipping terminal in the Peruvian port city of Callao.

Peru's government and Minera Antamina, which operates the world's largest combined copper-zinc mine, reached an agreement with a northern Andean community over social investment projects.

A development roundtable in the community of Jangas in Ancash region agreed on 20mn soles (US$7.1mn) in infrastructure investment, according to the energy and mines ministry (MEM). 

Spanish engineering firm Tecnicas Reunidas signed a concession contract Thursday for the modernization of Peruvian state oil company Petroperu's Talara refinery, a project that will require an investment outlay of $3.5 billion.

 The upgrade will include construction of fuel-desulfurization facilities and a flexicoking unit, which will be the first of its kind in Latin America.

The upgrade will increase the plant's refining capacity from 65,000 barrels per day to 95,000 bpd, Petroperu said.

Peru's Comptroller General, Fuad Khoury, is evaluating the possibility of lifting a blockade on the bank accounts of the central Ancash region, which is roiling in corruption allegations. 

Aiming to increase current bilateral trade from $1.5 billion to $2 billion between Peru and India, the Latin American nation is looking to take the proposal of Free Trade Agreement (FTA) with the newly-formed Narendra Modi government.

Javier Paulinich, Ambassador of Peru to India said that they want to expand economic activity between the two countries. "We will conduct a joint study in July-August 2014 on current activity and potential to grow, then we will take this (FTA) up," he said but added that the process would take 2-3 years. 

Representatives from the Government of Peru will meet with ministers from the state on issues related to forests and mining.

The South American country is looking to exchange experiences in dealing with illegal mining and deforestation among other issues. Javier Paulinich, Ambassador of Peru to India said their country and the state are dealing with 'common problems.' 

Viet Nam and Peru plan to widen co-operation in the sectors of agriculture, aquaculture, science and technology, according to Nguyen The Hung, deputy director of the Viet Nam Chamber of Commerce and Industry (VCCI)'s HCM City Chapter.

In a round-table talk on the Peruvian Market organised by VCCI and Peru Embassy in HCM City yesterday, Hung said that although the growth in bilateral trade had been stable, it still remained below its potential.

A trade mission from Peru visited Ecuador this week to promote 10 gastronomic franchises to local entrepreneurs.

The presentation of the companies was held yesterday at the Dann Carlton hotel, where seafood, ice drinks, chicken, sandwiches and ceviche companies attended the event.

Fifty years ago, Peru's National Stadium in Lima became the site of what is today considered the worst tragedy to ever happen at a football stadium, during which 320 people were killed and 500 were wounded.

On May 24, 1964, Argentina's national team was winning 1-0 in a qualifying match for the Tokyo Olympic Games. Just two minutes before the end, the Peruvian team scored a goal to tie, but Uruguayan referee Angel Eduardo Pazos disallowed it. This decision enraged fans, and V�ctor V�squez, known as "Negro Bomba" (Black Bomb), jumped onto the field. Many other fans followed him, with the intention of attacking the referee. In turn, police officers released dogs, who jumped on the fans.

[BBC VIDEO]: The worst stadium disaster in history

The Peruvian national soccer team is in London for their Friday faceoff with their English counterparts.

According to the Daily Mail, Peru and England haven't played against one another since 1962.

England selected Peru for a pre-World Cup friendly because of Peru's supposed similarity to Uruguay, who the English are set to play early in the tournament in Brazil.

Peruvians across the country today are being asked to participate in an earthquake and tsunami drill organized by the National Civil Defense Institute.

"Earthquake" will be between VII and VIII degrees on the Mercalli scale.