Santander Chile Rises Most in Three Weeks on Earnings

By Nathan Gill Aug. 28 (Bloomberg) — Banco Santander Chile, the country’s biggest lender, rose the most in three weeks after reporting profit that exceeded some analysts’ projections. The Santiago-based bank gained 2.7 percent, the most since Aug. 3, to 27.72 pesos. The unit of Spain’s Banco Santander SA reported net income of 219.2 billion… Read More Santander Chile Rises Most in Three Weeks on Earnings

Goldman Sachs, Celfin to Sell Derivatives in Chile

By Nathan Gill Aug. 27 (Bloomberg) — Goldman Sachs Group Inc. and Chilean brokerage and investment bank Celfin Capital SA agreed to develop derivative products for Chilean pension funds, the country’s biggest investors, Celfin said. Goldman Sachs and Celfin will create and market financial instruments, including cross-currency and interest-rate swaps, for the South American country’s… Read More Goldman Sachs, Celfin to Sell Derivatives in Chile

Chile Banks’ Combined Profit Rises 35 Percent in July

By Nathan Gill Aug. 27 (Bloomberg) — Chilean banks’ combined profit increased 35 percent in July from the previous month as greater confidence in the South American country’s economy boosted consumer lending. Net income this year through July was 634 billion pesos ($1.2 billion), the banking regulator wrote in a report e-mailed today, without giving… Read More Chile Banks’ Combined Profit Rises 35 Percent in July

Chile’s Copec to Buy Tafisa Brasil for $165.2 Million

By Nathan Gill Aug. 26 (Bloomberg) — A unit of Empresas Copec SA, Chile’s biggest pulp producer, agreed to buy Brazilian wood-panel maker Tafisa Brasil SA for about $165.2 million. Placas do Parana SA, a unit of Copec’s forestry subsidiary Celulosa Arauco y Constitucion SA, will buy 100 percent of the Brazilian company from Sonae… Read More Chile’s Copec to Buy Tafisa Brasil for $165.2 Million

Chile Finance Minister Velasco Says Economy Stabilized, Will Improve

By Nathan Gill Aug. 21 (Bloomberg) — Chilean Finance Minister Andres Velasco said the country’s economy has touched bottom and will show improvement in the third quarter as it emerges from its deepest recession in over a decade. The contraction of Chile’s gross domestic product, which began last year and has seen consecutive quarters of… Read More Chile Finance Minister Velasco Says Economy Stabilized, Will Improve

Chile Turkey Farms Quarantined After Swine Flu Found

By Nathan Gill and James Attwood Aug. 21 (Bloomberg) — Two Chilean poultry farms are under quarantine after swine flu was detected in turkeys, the first case of the virus found in birds, the nation’s health ministry and U.S. health officials said. Sopraval SA, the Santiago-based producer of poultry, beef and pork products, said agricultural… Read More Chile Turkey Farms Quarantined After Swine Flu Found

Chile’s Vapores and Samsung Heavy Reach Deal on Ship Contracts

By Nathan Gill Aug. 18 (Bloomberg) — Chile’s Cia. Sudamericana de Vapores SA, Latin America’s largest container ship company, reached an agreement with Samsung Heavy Industries Co. to change its ship-building contracts. Vapores, as the company is known, will buy five ships worth a total of $625 million from Seoul-based Samsung Heavy, the world’s second-largest… Read More Chile’s Vapores and Samsung Heavy Reach Deal on Ship Contracts