Colombian Peso Rises for Fourth Straight Week on Economy

By Nathan Gill Sept. 25 (Bloomberg) — Colombia’s peso climbed for a fourth week on speculation the South American country is beginning to recover from its first recession since 1998. The peso climbed 1.3 percent this week to 1924.45 per dollar, extending its advance this month to 7 percent, the biggest gain among 26 emerging-market… Read More Colombian Peso Rises for Fourth Straight Week on Economy

Peruvian Economy Has Reached ‘Point of Inflexion,’ Central Bank President Says

By Nathan Gill Sept. 18 (Bloomberg) — Peruvian central bank President Julio Velarde said the country’s economy has reached a “point of inflexion” after it shrank the most in eight years in June. Rebounding demand in Peru and overseas will probably push the economy to 3.2 percent growth in the second half of 2009, and… Read More Peruvian Economy Has Reached ‘Point of Inflexion,’ Central Bank President Says

Gold Fields Halts Peru Exploration Project on Protest

By Nathan Gill Sept. 18 (Bloomberg) — Gold Fields Ltd. and Cia. de Minas Buenaventura SA halted exploration of their Titan-Arabe gold and copper deposit in northern Peru after protests by local residents turned deadly, the head of the joint venture said. “We saw that there were constant threats, so we took the decision to… Read More Gold Fields Halts Peru Exploration Project on Protest

Peru’s Economy Shrank 1.4% in July From Year Earlier

By Nathan Gill Sept. 15 (Bloomberg) — Peru’s economy contracted for a second month as demand for the South American country’s fishing, manufacturing and metal exports fell. Gross domestic product fell 1.4 percent in July from the same month a year earlier, after a 2.1 percent year-on-year decline in June, the government statistics agency said… Read More Peru’s Economy Shrank 1.4% in July From Year Earlier

Peru’s Talara Refinery Production Unaffected by Fire

By Nathan Gill Sept. 14 (Bloomberg) — Petroleos del Peru SA, the oil producer known as Petroperu, said a fire at its Talara refinery in northern Peru didn’t affect production. The fire, which started yesterday in the refinery’s vacuum distillation unit as a pressure meter was being installed, was “immediately controlled” and operations continued normally,… Read More Peru’s Talara Refinery Production Unaffected by Fire

Chile’s Peso Falls as Copper Declines; Peruvian Sol Slides

By James Attwood and Nathan Gill Aug. 17 (Bloomberg) — Chile’s peso fell to a two-month low after copper, the country’s biggest export, declined and the U.S. dollar strengthened against major currencies. Chile’s currency, up 14 percent so far this year, dropped 1.3 percent to 558.75 per U.S. dollar at 12:01 p.m. New York time,… Read More Chile’s Peso Falls as Copper Declines; Peruvian Sol Slides

Chile’s Cencosud Quarterly Profit Slides More Than Estimated

By James Attwood and Nathan Gill Aug. 14 (Bloomberg) — Cencosud SA, Chile’s biggest retailer by sales, posted a steeper-than-estimated drop in second-quarter profit on lower sales and currency losses. First-half net income fell 66 percent, the Santiago-based company reported in a regulatory filing today without giving separate second-quarter results. Second-quarter profit fell to 8.96… Read More Chile’s Cencosud Quarterly Profit Slides More Than Estimated

Chile’s Falabella Profit Falls 48% on Sales Drop, Currencies

By James Attwood and Nathan Gill Aug. 14 (Bloomberg) — SACI Falabella SA, Chile’s biggest retailer by market value, reported a 48 percent slump in second-quarter profit because of a drop in sales and foreign-exchange rate losses. Net income fell to 33.4 billion pesos ($60.5 million) from 63.7 billion pesos a year earlier, the Santiago-based… Read More Chile’s Falabella Profit Falls 48% on Sales Drop, Currencies

Ugly Stories of the Peruvian Agrarian Reform: Enrique Mayer

Enrique Mayer’s Ugly Stories of Peruvian Agrarian Reform, a “people-oriented kind of oral history,” provides a memory study of the 1969 land reforms enacted by Peruvian President Juan Velasco Alvarado. Written from the perspective of historical stakeholders and incorporating Mayer’s lifelong participation in the reforms as an academic observer, he weaves a series of testimonies… Read More Ugly Stories of the Peruvian Agrarian Reform: Enrique Mayer

Bachelet Says Chile Supports Recapitalization of IDB

By Sebastian Boyd and Nathan Gill      July 3 (Bloomberg) — Chilean President Michelle Bachelet said her government supports the recapitalization of the Inter-American Development Bank to help developing countries cope with declining capital flows.      Bachelet, speaking today to finance ministers from North and South America, urged member governments to help raise additional funding… Read More Bachelet Says Chile Supports Recapitalization of IDB

Honduran Protesters, Soldiers Clash Outside Palace After Coup

By Andres R. Martinez and Nathan Gill      June 29 (Bloomberg) — Hundreds of protesters clashed with riot police and soldiers outside Honduras’ presidential palace a day after the military arrested President Manuel Zelaya at gunpoint and put him on a plane out of the country.      Regional leaders, from market-friendly Mexican President Felipe Calderon… Read More Honduran Protesters, Soldiers Clash Outside Palace After Coup

Latin America Leaders Call Summit to Restore Zelaya (Update 4)

By Nathan Gill and Joshua Goodman      June 29 (Bloomberg) — Latin American leaders are gathering in an emergency summit to restore Honduran President Manuel Zelaya to office after his ouster by the military yesterday in a showdown over a referendum on term limits.      Regional leaders, from market-friendly Mexican President Felipe Calderon to self-declared… Read More Latin America Leaders Call Summit to Restore Zelaya (Update 4)

Latin America Calls Summit to Try to Restore Zelaya in Honduras

By Nathan Gill and Eric Sabo      June 29 (Bloomberg) — Honduran President Manuel Zelaya, ousted by the military, meets with Venezuelan President Hugo Chavez and regional leaders today in a show of support designed to restore him as head of the Central American country.      Zelaya said soldiers surrounded his house and forced him… Read More Latin America Calls Summit to Try to Restore Zelaya in Honduras

Chavez Says Honduras Coup Will Fail, Vows Assistance

By Nathan Gill and Andres R. Martinez      June 28 (Bloomberg) — Venezuelan President Hugo Chavez said a military coup in Honduras is “destined to fail” and that his nation’s armed forces are ready to help return President Manuel Zelaya to power.      Chavez, joined by Zelaya and the presidents of Ecuador, Nicaragua and Cuban… Read More Chavez Says Honduras Coup Will Fail, Vows Assistance

Honduran President Manuel Zelaya Is Ousted in Coup by Military

By Nathan Gill and Jose Orozco      June 28 (Bloomberg) — Honduran President Manuel Zelaya was ousted by the military today after his opponents accused him of ignoring court rulings and seeking to change the constitution through a referendum to hold onto power.      Zelaya, an ally of Venezuelan President Hugo Chavez, was seized by… Read More Honduran President Manuel Zelaya Is Ousted in Coup by Military

Chile’s Parque Arauco Rises to 1-Year High on Profit Outlook

By Nathan Gill      June 9 (Bloomberg) — Parque Arauco SA, a Chilean shopping-center developer and operator, climbed to its highest in a year in Santiago trading on speculation that its expansion plans will boost earnings growth.      Parque Arauco rose 3.2 percent to 514 pesos, the highest closing price since May 28, 2008. The… Read More Chile’s Parque Arauco Rises to 1-Year High on Profit Outlook

Chile Reports First Swine-Flu Victims, Minister Says

By Nathan Gill and Sebastian Boyd      May 17 (Bloomberg) — Two female tourists returning from the Dominican Republic became Chile’s first confirmed cases of swine flu, Health Minister Alvaro Erazo told reporters today in Santiago.      They arrived in Chile yesterday on Copa Airlines Flight 437 from the beach resort of Punta… Read More Chile Reports First Swine-Flu Victims, Minister Says

BM&FBovespa Proceeding With Chile Trading Plans, Oliveira Says

By Nathan Gill      May 14 (Bloomberg) — Paulo de Sousa Oliveira Jr., chief business development officer of BM&FBovespa SA, Latin America’s largest exchange, comments on plans to integrate with Chile’s stock exchanges. Oliveira spoke in Spanish to reporters in Santiago today. On plans to integrate with Chile’s exchanges:      “The idea we… Read More BM&FBovespa Proceeding With Chile Trading Plans, Oliveira Says

Chile’s Lan Seeks Airline Partner, Traffic Expansion

By Nathan Gill and James Attwood May 7 (Bloomberg) — Lan Airlines SA, Chile’s biggest air carrier, is interested in forming an alliance with a partner “north of Ecuador,” Chief Executive Officer Enrique Cueto said. Lan hasn’t reached any agreements and is looking for new markets to expand its cargo and passenger business, Cueto told… Read More Chile’s Lan Seeks Airline Partner, Traffic Expansion

Falabella Plans to Invest $2 Billion Through 2012

By Nathan Gill and James Attwood May 7 (Bloomberg) — SACI Falabella SA, Chile’s biggest retailer by market value, plans to invest $2 billion through 2012 to expand in Latin America, Chief Executive Officer Juan Benavides said. Falabella is seeking opportunities in Colombia while its “very big” investment plans for Peru will depend on how… Read More Falabella Plans to Invest $2 Billion Through 2012

Chile’s Endesa Plans to Invest $1 Billion in 2009

By Nathan Gill April 30 (Bloomberg) — Empresa Nacional de Electricidad SA, Chile’s biggest power generator, said it plans to invest about $1 billion this year to expand capacity. The Santiago-based company known as Endesa will invest in wind farms, a natural gas plant and a coal steam plant, adding 680 megawatts of capacity, Chief… Read More Chile’s Endesa Plans to Invest $1 Billion in 2009

Endesa Chile First-Quarter Profit More Than Doubles

By Nathan Gill and James Attwood April 29 (Bloomberg) — Empresa Nacional de Electricidad SA, Chile’s biggest power generator, said first-quarter profit more than doubled as revenue rose in Chile. Net income rose to 166 billion pesos ($283 million) from 68.4 billion pesos a year earlier, the Santiago-based company said today in an e-mailed statement.… Read More Endesa Chile First-Quarter Profit More Than Doubles

Lan Airlines Profit Falls 35% on Fuel-Hedging Loss

By Nathan Gill April 28 (Bloomberg) — Lan Airlines SA, Chile’s biggest carrier, reported a 35 percent drop in first quarter profit after losing $57.9 million from wrong way bets on fuel prices. Net income slipped to $65 million from $99.6 million a year earlier, the carrier said in an e-mailed statement today. The airline reported… Read More Lan Airlines Profit Falls 35% on Fuel-Hedging Loss

Peru Restarts War of the Pacific with UN Lawsuit against Chile

March 21, 2009 (Southern Affairs) — Peru, home of the ancient Incan Empire, is trying to win back by reason what it lost by force. On March 19, Peru asked the United Nations to settle a century-old dispute with its southern neighbor Chile over some of South America’s richest fishing grounds. Jose Garcia Belaunde, Peru’s… Read More Peru Restarts War of the Pacific with UN Lawsuit against Chile

Peru Seeks UN Ruling on Chile Maritime Dispute, Garcia Says

By Nathan Gill March 19 (Bloomberg) — Peru presented the United Nations International Court of Justice in The Hague today with its claim to some of the world’s richest fishing grounds now held by Chile, Peruvian Foreign Minister Jose Garcia Belaunde said.      Garcia Belaunde said he’s confident the court will agree to hear the… Read More Peru Seeks UN Ruling on Chile Maritime Dispute, Garcia Says

Unasur Defense Ministers Play Down Regional Conflicts at South American Summit

March 10 (Southern Affairs) — Unasur’s defense ministers met again in Santiago today to kick off the South American Defense Council. Amid handshakes and congratulations, the ministers emphasized the historic nature of the meeting which they say will help ensure peace and democracy throughout the continent. What the ministers did not discuss publicly was how… Read More Unasur Defense Ministers Play Down Regional Conflicts at South American Summit

Provisioning of the Inka Army in Wartime: Obsidian Procurement in Pambamarca, Ecuador: Ogburn et al.

Ogburn, Dennis, Samuel Connell, and Chad Gifford. “Provisioning of the Inka Army in Wartime: Obsidian Procurement in Pambamarca, Ecuador.” Journal of Archaeological Science 36, no. 3 (March 1, 2009): 740–51. Dennis Ogburn, Samuel Connell, and Chad Gifford look at sources of obsidian found at the Pambamarca fortress complex to the north and east of Quito,… Read More Provisioning of the Inka Army in Wartime: Obsidian Procurement in Pambamarca, Ecuador: Ogburn et al.

Correa Says Ecuador Willing to Renew Relations With Colombia

By Nathan GillFeb. 27 (Bloomberg) — Ecuador may renew diplomatic relations with Colombia if certain conditions are met, President Rafael Correa said today in a statement posted on the presidential Web site. Correa asked Colombia to reveal all the details of an air raid last year in Ecuadorean territory, repay Ecuador for unspecified damages, support… Read More Correa Says Ecuador Willing to Renew Relations With Colombia

Ecuador May Seize Perenco Assets Over Tax Dispute

By Nathan Gill Feb. 26 (Bloomberg) — Ecuadorean Oil and Mines Minister Derlis Palacios said Perenco SA has until March 3 to pay taxes or state-owned PetroEcuador will take steps to seize the French oil company’s assets. Ecuadorean President Rafael Correa said Feb. 14 that he had given the order to begin a lawsuit against… Read More Ecuador May Seize Perenco Assets Over Tax Dispute

Ecuador’s Borja Vows to ‘Defend’ Use of U.S. Dollar

By Nathan Gill Feb. 17 (Bloomberg) — Ecuador’s Economic Policy Minister, Diego Borja, defended the country’s use of the U.S. dollar and said President Rafael Correa wasn’t planning to abandon the system. “The president has been clear, we are going to defend dollarization,” Borja said today in an interview broadcast on Quito-based television station TeleAmazonas.… Read More Ecuador’s Borja Vows to ‘Defend’ Use of U.S. Dollar