By Nathan Gill Jan. 29 (Bloomberg) — Chile’s Finance Minister Andres Velasco said a contraction in world demand will affect exports and increase the costs of financing for projects in Chile. A drop in 2009 global growth means a “more somber outlook” for Chile, Velasco said today in Davos, Switzerland, according to a… Read More Chile’s Velasco Says Global Slump Will Hit Exports, Financing
By Nathan Gill Jan. 26 (Bloomberg) — Companies in Chile have delayed or canceled about a quarter of their planned investments, according to Chile’s Technological Development & Capital Goods Corp. About $17 billion of the $64 billion of planned investments in mining, real-estate, industrial, forestry and energy projects planned through 2012 were shelved… Read More Chile Projects Delayed, Canceled on Lack of Funding (Update1)
By Nathan Gill Jan. 23 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on the availability of credit. Velasco spoke to reporters today after a meeting with members of the Association of Banks and Financial Institutions. On banks: “Everyone should use every available tool to alleviate the effects of the international crisis on… Read More Chile’s Andres Velasco Urges Banks to Open Up Access to Credit
By Nathan Gill Jan. 22 (Bloomberg) — Guillermo Tagle, vice president of Chile’s Capital Markets Consultative Council and executive director of Santiago-based IM Trust Corredores de Bolsa, comments on the country’s Jan. 8 decision to sell $1 billion of local currency bonds. Tagle spoke to reporters today in Santiago after a meeting with the… Read More Chile’s Bond Sale Creates Reference Point for Risk, Tagle Says
By Heather Walsh and Nathan Gill Jan. 21 (Bloomberg) — Chile, the world’s biggest producer of copper, said electricity bills will decline 1.6 percent for residents in the nation’s most populated areas. Energy prices will rise 14 percent for residents of northern Chile, Energy Minister Marcelo Tokman told reporters today in Santiago.
By Nathan Gill and James Attwood Jan. 20 (Bloomberg) — Cencosud SA, Chile’s biggest retailer, plans to return to the debt levels it maintained before making a series of acquisitions starting in 2007. The Santiago-based operator of department stores, supermarkets and home-improvement outlets plans to issue 21-year bonds worth 3 million UF, Chile’s… Read More Chile’s Cencosud Seeks Return to 2007 Debt Levels (Update1)
By Nathan Gill and Jens Erik Gould Jan. 15 (Bloomberg) — Mexican Labor Minister Javier Lozano said his country’s economic stimulus plan can prevent a contraction in the job market this year. “I hope that with the measures that are being taken we do not have a drop in the net number of… Read More Mexico Stimulus Can Prevent 2009 Job Contraction, Labor Minister Lozano Says
By Nathan Gill Jan. 15 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on fiscal policy during times of financial crisis. Velasco spoke today at a conference in Santiago. On Chile’s fiscal policy: “Fiscal policy, depending on the circumstance, should be austere and contract demand levels, and in other circumstances it should be… Read More Chile Needs ‘Actively Expansive’ Fiscal Policy, Velasco Says
By Nathan Gill and James Attwood Jan. 14 (Bloomberg) — Banco Santander Chile, the country’s biggest lender, fell the most in a month in Santiago trading on concern that a deepening global economic slowdown is stifling lending. Santander Chile fell 3 percent to 22.1 pesos, the steepest drop since Dec. 15. Banco de… Read More Santander Chile Falls on Lending Slowdown Concern (Update1)
By James Attwood and Nathan Gill Jan. 13 (Bloomberg) — The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and share prices are as of 3:48 p.m. in New York. The Ipsa index rose 0.1 percent to 2,470.06. Enersis SA (ENERSIS CC), the Latin American unit… Read More Chile Equity Movers: Enersis, Colbun, Ripley, SACI Falabella
Citation Colloredo-Mansfeld, Rudi. Fighting Like a Community: Andean Civil Society in an Era of Indian Uprisings. Chicago: University of Chicago Press, 2009.
By James Attwood and Nathan Gill Dec. 18 (Bloomberg) — Distribucion y Servicio D&S, Chile’s biggest grocer, rose the most in two months in Santiago trading on renewed speculation it will be acquired by another retailer. “This stock is always with rumors that someone would buy it,” Alvaro Pipino, head of research at… Read More D&S Rises Most in 2 Months on Acquisition Speculation (Update2)
By Nathan Gill Dec. 18 (Bloomberg) — Empresa Nacional de Electricidad SA, Chile’s biggest electricity generator, sold about $340 million in bonds, the company said. The company known as Endesa sold debt for 10 million unidades de fomento, Chile’s inflation-adjusted accounting unit, in 21-year notes, the company said in an e-mailed statement. … Read More Chile Electricity Generator Endesa Sells $340 Million in Debt
By Nathan Gill Dec. 18 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on the potential economic consequences in Chile of Ecuador’s decision to default on $3.9 billion of international debt. Velasco spoke today in an interview in Santiago. On the affects of Ecuador’s decision to default on Chile’s economy: “None. What Chile… Read More Velasco Expects Little Fallout From Ecuador Default in Chile
By James Attwood and Nathan Gill Dec. 17 (Bloomberg) — Cap SA rose to the highest in two weeks in Santiago trading as an increase in global metals prices eased concerns over waning demand for the iron-ore and steel products that the company produces. Cap gained 1.6 percent to 7,150 pesos, the highest… Read More Chile’s Cap Advances to Two-Week High as Metals Climb (Update1)
By Nathan Gill Dec. 17 (Bloomberg) — Aguas Andinas SA, Chile’s biggest water company, plans to sell as much as $148.7 million in bonds, according to a statement posted on the securities regulator’s Web site. The Santiago-based company will issue as much as 3.5 million UF, Chile’s inflation-adjusted currency, or about $117 million,… Read More Chile’s Aguas Andinas to Sell Up to $148.7 Million of Bonds
By James Attwood and Nathan Gill Dec. 16 (Bloomberg) — The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses, and share prices are as of 3:48 p.m. in New York. The Ipsa index rose 0.5 percent to 2,335.70. Embotelladora Andina SA (ANDINAB CC) advanced for the… Read More Chilean Equity Movers: Embotelladora Andina, La Polar, Soqumich
By Nathan Gill and James Attwood Dec. 15 (Bloomberg) — Banco Santander Chile, the nation’s biggest lender, fell the most on the main stock index on concern the global economic slowdown will reduce earnings. The Santiago-based bank declined for the third time in four days, sliding 3.8 percent to 20.21 pesos. Its American… Read More Santander Chile Falls on Earnings Slowdown Concern (Update1)
By Nathan Gill Dec. 11 (Bloomberg) — Ecuador’s Vice President Lenin Moreno comments on the country’s debt. Moreno spoke to reporters today in Santiago. On whether Ecuador will pay its foreign debt: “This is the president’s decision, frankly. I don’t know. There are many factors to consider. We have decided that it is… Read More Ecuador Vice President ‘Does Not Know’ If Country Will Pay Debt
By Nathan Gill Dec. 4 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on the fall in consumer prices in November. Velasco spoke to reporters today at a conference in Santiago: On consumer prices falling 0.1 percent in November from October: “It’s a welcome event that confirms the estimates both of the government… Read More Chile’s Price Decline in November ‘Welcome Event,’ Velasco Says
By Nathan Gill Dec. 3 (Bloomberg) — Stephen Pan, president of Hong Kong-based World-Wide Shipping Agency Ltd., comments on potential order cancellations by overseas shipping companies. Pan was interviewed today at the Latin American International Conference on Naval and Maritime Defense in Valparaiso, Chile. On the cancellation of overseas shipping contracts: “For… Read More Marine Shippers May Cancel Up to 30% of Booked Orders, Pan Says
By Nathan Gill Dec. 2 (Bloomberg) — Chile’s central bank sold $160 million in dollar swaps to banks, part of a six-month, $5 billion program. Banks were awarded the swaps at an average rate of 1.06 percentage points above Libor, the London interbank offered rate, the central bank wrote on its Web site.… Read More Chile Central Bank Sells $160 Million in Dollar Swaps to Banks
Citation Jamieson, Ross W. “The Market for Meat in Colonial Cuenca: A Seventeenth-Century Urban Faunal Assemblage from the Southern Highlands of Ecuador.” Historical Archaeology 42, no. 4 (December 2008): 21–37.
By Nathan Gill Dec. 1 (Bloomberg) — A Chilean financial committee that advises Finance Minister Andres Velasco recommended the government revise investment policies for its sovereign wealth fund. Chile’s government should postpone implementation of policies that would use 15 percent of accumulated reserves to purchase stocks and 20 percent to buy corporate bonds… Read More Chile Advisers Recommend Change in Sovereign Fund Investments
By Nathan Gill Dec. 1 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on Chile’s budget surplus. Velasco spoke to reporters in Santiago today. On the October budget deficit: “This is not unusual. Fiscal income fluctuates month to month, expenses fluctuate month to month and nobody in their right mind should worry about… Read More Chile Will Meet 2008 Annual Budget Surplus Goal, Velasco Says
By Nathan Gill Nov. 28 (Bloomberg) — Chilean industrial production unexpectedly fell and industrial sales had their second-biggest decline of the year in October as the global financial crisis slowed economic growth. Output dropped 0.8 percent last month from October 2007, the National Statistics Institute said today, compared with a revised 3.6 percent… Read More Chilean Industrial Output Fell 0.8 Percent in October (Update2)
By Nathan Gill Nov. 28 (Bloomberg) — Peru’s economy expanded more than economists expected in the third quarter, led by construction and investment in heavy machinery and equipment. Gross domestic product, the broadest measure of a country’s output in goods and services, grew 9.5 percent in the third quarter from the same period… Read More Peru’s Economy Expanded 9.5 Percent in Third Quarter (Update1)
By Nathan Gill Nov. 27 (Bloomberg) — Chile will offer credit lines of up $8 million for producers of salmon affected by an outbreak of infectious anemia in the country’s south, President Michelle Bachelet said today. Chile will grant credit lines of up to $8 million for sanitary and environmental investment projects, for… Read More Chile Announces New Credits for Salmon Producers
By Nathan Gill Nov. 27 (Bloomberg) — Chile’s President Michelle Bachelet said that the country’s economy is prepared to face the global financial crisis and will grow within the expected range in 2009. The government’s top priority in the next 15 months will be to control the fallout from the global financial crisis,… Read More Chile’s Top Goal Is to Control Financial Crisis, President Bachelet Says
By Nathan Gill and Heather Walsh Nov. 27 (Bloomberg) — Cap SA, Chile’s largest steelmaker, said demand for steel will begin to rise by the middle of next year after slumping because of a global economic recession. Cap had expected a faster rebound, Chairman Roberto De Andraca said today in a speech in… Read More Chile Steelmaker Cap Says Demand May Strengthen by Mid-2009
By Nathan Gill Nov. 27 (Bloomberg) — Chile’s Finance Minister Andres Velasco said the government now projects that the country’s current account deficit will widen next year, due in part to government efforts to stoke economic growth. The government will use “strong” counter-cyclical monetary policy, including increasing the current account deficit, to help… Read More Velasco Expects Wider Chile Current Account Deficit (Update1)
By Nathan Gill Nov. 25 (Bloomberg) — Chile’s congress approved a $5.6 billion budget for next year that will increase spending on infrastructure and boost housing subsidies to help stimulate the economy during a global recession. Government outlays will increase 5.7 percent, led by social services and pensions, which account for 69 percent… Read More Chile’s Congress Approves 2009 Budget With Surplus (Update1)
By Nathan Gill Nov. 25 (Bloomberg) — Chile’s central bank sold $200 million in dollar swaps to banks, part of a $5 billion program over the next six months. Banks were awarded the swaps at an average rate of 1.2 percent above Libor, the central bank wrote on its Web site. It put… Read More Chile Central Bank Sells $200 Million in Dollar Swaps to Banks
