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
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
By Nathan Gill and James Attwood Sept. 10 (Bloomberg) — Chilean consumer prices will rebound in September after declining in eight of the 10 previous months, according to economists in a monthly central bank survey. Prices will rise 0.4 percent in September from a month earlier, according to the median forecast of 28 economists in… Read More Chile Economists Forecast 0.4% Inflation in September
By James Attwood and Nathan Gill Sept. 9 (Bloomberg) — Chile’s Empresa Electrica del Norte Grande SA rose the most in three months after announcing it offered the lowest price in bidding for new supply contracts. The northern Chilean electricity producer known as Edelnor rallied 8.3 percent to 742 pesos in Santiago trading, the steepest… Read More Chile’s Edelnor Rallies After Submitting Lowest Supply Bids
By Nathan Gill Sept. 8 (Bloomberg) — Celulosa Arauco y Constitucion SA, the world’s second-biggest pulp maker, said a recovery in Asian markets is boosting the price of pulp. Demand for pulp at the forestry unit of Empresas Copec SA, Chile’s largest publicly traded company by market value, touched bottom last quarter and probably will… Read More Chile’s Arauco Sees Asia Recovery Driving Pulp Prices
By Nathan Gill and Matthew Craze Sept. 7 (Bloomberg) — A road to Anglo American Plc’s Los Bronces copper mine in central Chile was hit by a mudslide, killing one worker. Mining operations weren’t affected. Luis Rene Zurita Martel, a 52-year old contract employee at Anglo’s Los Bronces mine was killed today when the mudslide… Read More Chile Mudslide Kills 1 at Anglo Mine, Codelco Not Hit
By James Attwood and Nathan Gill Sept. 4 (Bloomberg) — Cristalerias de Chile SA, a glass container producer, rose the most in 14 years after agreeing to sell a stake in cable television company VTR GlobalCom SA. Cristalchile, as the company is known, rallied 15 percent, the most since April 1995, to 6,420 pesos in… Read More Cristalchile Rises Most Since 1995 on VTR Sale Accord
By Nathan Gill Sept. 3 (Bloomberg) — Bank lending in Chile probably will increase 2 percent this year as the economy rebounds in the second half from its deepest recession in a decade, the nation’s banking association said. Commercial loans and consumer lending should rise about 1 percent this year, the Asociacion de Bancos e… Read More Chile Bank Loans May Rise 2 Percent, Association Says
By Nathan Gill Sept. 2 (Bloomberg) — Empresas Copec SA, Chile’s largest producer of wood pulp, rose the most in two weeks on the prospect that gains in pulp prices may bolster earnings. The nation’s largest publicly-traded company gained 2.4 percent to 6,620 pesos in Santiago trading, its steepest climb since August 18. The BHKP… Read More Chile’s Copec Rises Most in Two Weeks on Earnings Outlook
By Matt Craze and Nathan Gill Sept. 1 (Bloomberg) — Antofagasta Plc, the copper producer controlled by Chile’s Luksic family, expects copper demand to increase this month, a company executive said. Demand should recover in September as industrial production in China expands and summer vacations in the northern hemisphere end, Marcelo Awad, chief executive officer… Read More Antofagasta Says Copper Demand to Increase This Month
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
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
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
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
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
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
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
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
By Nathan Gill Aug. 15 (Bloomberg) — Multiexport Foods SA, Chile’s biggest publicly-traded salmon producer, said its first-half net loss widened on higher costs and lower sales related to a virus that has depleted fish stocks. The loss widened to $48.7 million from a $11.4 million loss in the year-earlier period, according to data posted… Read More Chile’s Multiexport Foods Says First-Half Loss Widens on Salmon Virus
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
By Nathan Gill and James Attwood Aug. 14 (Bloomberg) — Socovesa SA, Chile’s second-biggest building company by market value, reported a first-half loss as an economic slowdown stifled new home sales. Socovesa, based in Santiago, lost 6.86 billion pesos ($12.4 million), compared with a profit of 2 billion pesos in the same six months last… Read More Chile’s Socovesa Reports First-Half Loss of 6.9 Billion Pesos
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
By Nathan Gill and James Attwood Aug. 12 (Bloomberg) — Cap SA, the Chilean steelmaker that posted a first-half net loss yesterday, is seeking changes to bondholder protection rules governing capital requirements. Bondholders will be presented with a proposal on Aug. 28 to modify minimum capital levels, Banco Santander SA, which represents bondholders, said in… Read More Chile’s Cap Seeks Changes to Bondholder Protection Covenants
By Nathan Gill and Sebastian Boyd July 23 (Bloomberg) — Chile’s economy may be starting to recover from its slump as extra government spending spurs growth, Finance Minister Andres Velasco said today. Velasco has spent more than $4 billion this year on tax cuts and extra outlays. He will pull $8 billion from Chile’s offshore… Read More Chile Economy Showing Signs of Recovery, Finance Minister Velasco Says
By James Attwood and Nathan Gill July 23 (Bloomberg) — Sam Zell’s Equity International is seeking new real estate-related investments in Brazil as record low interest rates accelerate growth in Latin America’s biggest economy. Equity International is looking to tap Brazil’s “relatively immature” commercial real estate finance business after selling assets in Mexico and Chile,… Read More Zell’s Fund Chases Brazil Assets as Economy Recovers
By Nathan Gill and James Attwood July 22 (Bloomberg) — Salmon prices, which gained as much as a third in the U.S. this year, may extend the rally as a virus hurts output in Chile, the nation’s biggest publicly traded producer said. Prices may rise a further 20 percent this year amid tumbling… Read More Salmon Prices May Rise 20%, Chile’s Multiexport Says
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 into a larger narrative chronicling this period of “revolutionary reforms gone astray.” … Read More Ugly Stories of the Peruvian Agrarian Reform (Review)
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
Citation Lyall, Angus. “¿Para qué sirve la memoria? : memoria, poder y resistencia en una zona florícola en el norte de Ecuador,” July 2009.
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
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)
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
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
