By Nathan Gill Nov. 17 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on the central bank’s decision to cut 2009 economic forecasts Nov. 14. Velasco spoke to reporters in Santiago today. On the central bank’s revised 2009 economic estimates: “We know the numbers released by the central bank last week and these… Read More Velasco Says Chile Better Prepared Than Many Nations for Crisis
By James Attwood and Nathan Gill Nov. 12 (Bloomberg) — Vina Concha y Toro SA, Chile’s biggest wine exporter, rose the most this year in Santiago after it was added to an emerging-markets index and a weakening local currency signaled higher export revenue. The Santiago-based winemaker gained 6.1 percent to 987 pesos, the… Read More Chile’s Concha Rises After Addition to MSCI Index (Update2)
By Nathan Gill and Sebastian Boyd Nov. 5 (Bloomberg) — Chile’s annual inflation rate rose to a 14-year high in October, led by rising costs for food and transportation, increasing pressure on policy makers to raise interest rates this month. Consumer prices jumped 9.9 percent last month from the same month a year… Read More Chile Inflation Rate Rose to 14-Year High in October (Update2)
By Nathan Gill Nov. 4 (Bloomberg) — Socovesa SA, Chile’s biggest homebuilder, rose the most in three weeks after the government announced plans to spend $1.15 billion to help the economy withstand the global financial crisis. Shares advanced 5.7 percent to close at 92.99 pesos, the biggest gain since Oct. 13. Chile’s… Read More Socovesa Rises on $1.15 Billion Chilean Aid Program (Update1)
By Nathan GillNov. 3 (Bloomberg) — Forty-six years after he disappeared, the Nazi fugitive known as Dr. Death may be within reach of Chilean police tracking him down. A police task force is following leads in southern Chile that Aribert Heim, an SS officer accused of performing experiments on inmates at the Mauthausen concentration camp,… Read More Dr. Death Appearance in Chile Has Nazi Hunters Dangling Reward
By Nathan Gill Oct. 30 (Bloomberg) — Chile’s Chamber of Construction andCitigroup Inc. halted negotiations over control of AFP Habitat,a Chilean pension fund, Diario Financiero reported, citingunidentified sources involved in the talks. Negotiations over the chamber’s offer to buy Citigroup’s 40percent stake in the fund for about $300 million were stoppedbecause of liquidity concerns at… Read More Chile’s Construction Chamber, Citigroup Halt AFP Habitat Talks
By Nathan Gill Oct. 30 (Bloomberg) — Banco Santander Chile, the country’sbiggest lender, said consumer lending has slowed as higherinflation hurt lower-income customers. Raimundo Monge, corporate director of strategy and financialplanning at the bank, said the company will compensate forfalling revenue from personal lending by focusing on moreaffluent consumers as well as local corporations. “We… Read More Chile’s Banco Santander Says High Inflation Slows Loan Growth
(Corrects company name in first paragraph.) By Nathan Gill Oct. 28 (Bloomberg) — Soquimich Comercial SA, a Chileanfertilizer maker, said profit more than tripled for the firstnine months of this year as prices for its products rose. Net income rose to 9.08 billion pesos ($13.4 million) from2.78 billion pesos a year earlier, the Santiago-based… Read More MY FIRST CORRECT: Soquimich Comercial Nine-Month Net Rises (Correction)
By Nathan Gill Oct. 24 (Bloomberg) — Chilean Finance Minister AndresVelasco comments on Chile and the international financialcrisis. He spoke to reporters today in Santiago. On the 2009 budget surplus: “The important thing is the structural surplus, not theactual surplus. We have a long-term goal of the equivalent of0.5 percent of gross domestic product. We… Read More Chile Will Meet Long-Term Budget Surplus Goals, Velasco Says
By Nathan Gill Oct. 23 (Bloomberg) — Cencosud SA, Chile’s biggestretailer, has delayed some projects because of the credit crisis,Chief Executive Officer Laurence Golborne said. Cencosud’s home-improvement chain Easy has been “affected”by the global economic slowdown and is revising its investmentplans for 2009, he said. “We have delayed a series of projects and we are… Read More Chile’s Cencosud Delays Projects Due to Credit Crisis (Update1)
By Nathan Gill Oct. 22 (Bloomberg) — Greg Tanzer, secretary general of theInternational Organization of Securities Commissions, comments onregulation and transparency in Latin American markets. Tanzerspoke at an interview in Santiago. On steps Latin American securities regulators should take toimprove their markets: “For Latin American securities regulators, and forregulators in other parts of the world… Read More Latin America Needs Market Confidence, IOSCO’s Tanzer Says
By Nathan Gill Oct. 16 (Bloomberg) — Chile’s former central bank PresidentVittorio Corbo comments on the effect of the financial crisis onChile’s economic outlook. Corbo spoke to reporters after aseminar in Santiago today. On the possibility that the Chilean central bank will selldollars to increase the value of the peso: “The central bank will evaluate… Read More Chile’s Central Bank May Sell Dollars If Needed, Corbo Says
By Nathan Gill Oct. 15 (Bloomberg) — Distribucion y Servicio D&S rose inSantiago trading, helping limit a decline in Chile’s main stockindex, on speculation it will be acquired by another retailer. D&S, which operates Chile’s biggest supermarket chain,climbed 3.7 percent to 195 pesos. A 19 percent gain so far thisweek is the steepest weekly rise… Read More Chilean Retailer D&S Rises on Acquisition Speculation (Update2)
By Nathan Gill Oct. 14 (Bloomberg) — Banco Santander Chile, the country’sbiggest lender, extended its biggest gain in a decade in Santiagoas analysts recommended buying the shares on valuation and as theU.S. bank bailout plan eased credit concerns. Santander gained 12 percent to 21 pesos, after surging 14percent yesterday in the steepest rally since shares… Read More Santander Chile Extends Rally as Credit Concern Eases
By Nathan Gill Oct. 14 (Bloomberg) — Cencosud SA, Chile’s biggestretailer, extended its steepest gain in four years in Santiagotrading after Banco Santander SA said a plan to raise capital mayreduce the company’s financial “uncertainty.” The shares rose 9.8 percent to 1,100 pesos after jumping 15percent yesterday in the biggest gain since trading began in… Read More Cencosud Extends Gain on Plans to Shore Up Finances
By Nathan Gill Oct. 10 (Bloomberg) — Chile’s pension funds have sufferedtheir worst losses this year since the Asian financial crisis ofa decade ago, Alejandro Charme, the country’s superintendent ofpensions, said. All of Chile’s pension funds have dropped, with the“riskiest” plans suffering losses of about 25 percent this yearthrough Sept. 30, Charme said. Plans with… Read More Chilean Pension Funds Suffer Worst Declines Since Asia Crisis
By Nathan Gill and James Attwood Oct. 7 (Bloomberg) — Cia. de Telecomunicaciones de Chile SA fell to the lowest in a month in Santiago trading after minority shareholders blocked an offer by controlling shareholder Telefonica SA to buy shares it doesn’t already own. Telefonica Chile, as the country’s biggest fixed-line carrier is… Read More Telefonica Chile Falls After Purchase Offer Rejected (Update4)
By Sebastian Boyd and Nathan Gill Oct. 7 (Bloomberg) — Chile posted its first trade deficit in six years in September as prices for copper, the country’s biggest export, tumbled. Chile imported $319 million more than it exported, the central bank said on its Web site. The median estimate of 15 economists polled… Read More Chile Posts First Monthly Trade Deficit in Six Years (Update1)
By Nathan Gill and Sebastian Boyd Oct. 6 (Bloomberg) — Chile’s Finance Ministry deposited $1.05 billion in local banks last week, Minister Andres Velasco told reporters today. The ministry was taking advantage of interest rates offered locally, Velasco said. Chilean banks raised interest rates on term deposits as they sought to overcome a… Read More Chilean Government Deposited $1.05 Billion in Banks on Interest Rates
By Sebastian Boyd and Nathan Gill Oct. 3, 2008 (Bloomberg) — Chilean consumer prices rose more than forecast by economists last month, led by electricity and food, boosting expectations that the central bank will raise interest rates for a fifth month next week. Inflation accelerated 1.1 percent in September, compared with 0.9 percent… Read More Chile Inflation Accelerates on Food, Transportation
By Nathan Gill and Sebastian Boyd Sept. 29, 2008 (Bloomberg) — Chile, the world’s biggest copper producer, expects to post a budget surplus equivalent to 3.7 percent of its gross domestic product next year, the lowest since 2003, as economic growth slows to 4 percent. Copper may average $2.90 per pound in 2009,… Read More Chile Budget Surplus to Shrink in 2009 on Slow Growth
By James Attwood and Nathan Gill Sept. 23, 2008 (Bloomberg) — Chile, the best-performing Latin American stock market this year, probably will remain a relative safe haven and may benefit from easing inflation, JPMorgan Chase & Co. said. Chile’s Ipsa index has fallen 10 percent this year, about half the decline of Brazil’s… Read More Chile Stocks May Gain on Slower Inflation: JPMorgan
By James Attwood and Nathan Gill Aug. 14, 2008 (Bloomberg) — Cap SA, Chile’s biggest iron-ore and steel producer, rose for the first time in six days in Santiago trading after analysts said the stock was undervalued and that rising metal prices may keep boosting earnings. Cap climbed 1.9 percent to 18,270 pesos… Read More Chile’s Cap Rebounds as Analysts Cite Inexpensive Stock, Profit
By Nathan Gill Sept. 10, 2008 (Bloomberg) — Embotelladora Andina SA, which distributes Coca-Cola products in Chile, Brazil and Argentina, gained the most in two months in Santiago trading on prospects of increased sales of its soft drinks, after Brazil said its economy is expanding faster than economists estimated. Andina rose 3.5 percent… Read More Andina Rises as Brazil Growth Signals Increased Sales
By Nathan Gill and Sebastian Boyd Sept. 5, 2008 (Bloomberg) — Chilean President Michelle Bachelet authorized the use of emergency funds to shore up Santiago’s public transport system after a loan to the system of buses and subway lines was declared unconstitutional. This is the first time since Chile returned to democracy in… Read More Bachelet Authorizes Emergency Funds for Transantiago
By Nathan Gill and Sebastian Boyd Sept. 2, 2008 (Bloomberg) — Chile’s government pledged to fund Santiago’s public transportation system after a newspaper reported that a loan made to develop the capital’s transit network was unconstitutional. President Michelle Bachelet will ask the country’s Constitutional Tribunal to clarify its decision on the $400 million… Read More Chile’s Government Pledges Support for Transantiago
By Nathan Gill and James Attwood Aug. 20 (Bloomberg) — Cia. Sudamericana de Vapores SA, Latin America’s biggest container ship company, fell to the lowest in a month in Santiago trading on speculation that rising costs and falling demand will reduce earnings. Vapores declined 2 percent to 705 pesos, the lowest since July… Read More Vapores Falls on Concern Costs Will Rise, Demand Slip
By Nathan Gill and James Attwood Aug. 18, 2008 (Bloomberg) — Sigdo Koppers SA, which controls Chile’s largest explosives maker, rose to the highest in two months in Santiago trading after announcing a $23.2 million pretax gain from the sale of assets in Peru. Sigdo Koppers climbed 2.6 percent to 390.1 pesos, the… Read More Sigdo Koppers Rises After Disclosing Peru Sale Profit
By Nathan Gill Aug. 12, 2008 (Bloomberg) — President Michelle Bachelet will keep the 2009 budget “as tight as possible” to help slow the rising cost of living, Economy Minister Hugo Lavados said. While saying higher public spending isn’t the leading cause of the fastest inflation in 13 years, Lavados told reporters today in… Read More Bachelet to Keep Budget `Tight’ in 2009, Economy Minister Says
By Nathan Gill Aug. 11, 2008 (Bloomberg) — Tenaris SA fell the most since April 2003 in Buenos Aires on speculation a stronger U.S. dollar will hurt commodity prices and curb demand for its products. The world’s biggest supplier of seamless pipes used by oil and gas producers retreated 8.2 percent to 78… Read More Tenaris Falls Most Since 2003 as Commodities Decline
By Sebastian Boyd and Nathan Gill Aug. 7, 2008 (Bloomberg) — Chile’s central bank policy makers considered a 0.75 percentage point rate increase at their July meeting, before voting unanimously to raise interest rates by half a point, the bank said on its Web site. The bank raised the rate to 7.25 percent… Read More Chile’s Bank Considered Bigger Rate Increase in July
By Nathan Gill and Sebastian Boyd Aug. 5, 2008 (Bloomberg) — Chile’s economic growth will accelerate in the second half of the year, Finance Minister Andres Velasco said. “The economy is taking off and we are going to have a second half that will be better than the first,” Velasco told reporters today… Read More Chile Second-Half Growth Will Be Better, Velasco Says
What is Chile’s current foreign policy? Chile’s current foreign policy strongly resembles the foreign policy of the Portales period, emphasizing political neutrality, non-intervention, sovereign equality, regional stability, and commercial expansion. The types of problems it faces are also similar to that era, but not specific to it, insofar as it has yet to resolve territorial… Read More Chilean Foreign Policy: 2008
