By Sebastian Boyd and Nathan Gill July 3 (Bloomberg) — Finance ministers from North and South America meeting in Chile agreed to push for more financing for multilateral lenders such as the World Bank and the Inter-American Development Bank, Chile’s Andres Velasco said. The IDB’s board may agree to vote for a capital… Read More Latin America Ministers Urge More Money for Lenders
By Nathan Gill and Jens Erik Gould July 3 (Bloomberg) — Mexican Finance Minister Agustin Carstens said the country doesn’t have debt problems and there’s no reason for rating companies to cut its credit rating. “We have a strong economy. We don’t have any external payment problems,” Carstens told reporters today at a… Read More Carstens Sees No Reason for Mexico Credit Rating Cut
By Nathan Gill July 2 (Bloomberg) — Empresas La Polar SA, a Chilean department store operator, fell to the lowest in a month on concern higher-than-expected unemployment in the U.S. and Chile may crimp consumer spending at the company’s stores. La Polar slid 2.6 percent to 1,910 pesos in Santiago trading, the lowest since… Read More Chile’s La Polar Falls as Jobless Data Signals Consumer Slump
By Nathan Gill June 30 (Bloomberg) — Empresas La Polar SA, Chile’s fourth-largest department store chain, sank the most in seven months after saying it rejected a merger offer from supermarket chain Omega SA. La Polar fell 6.4 percent to 1,960 pesos in Santiago trading, its steepest drop since Nov. 20. The stock… Read More Chile’s La Polar Falls Most in 7 Months After Merger Rejected
By Nathan Gill June 28 (Bloomberg) — Alfredo Coutino, director for Latin America at Moody’s Economy.com in West Chester, Pennsylvania, comments on the economic impact of a military coup in Honduras. Coutino spoke today in a telephone interview. On the coup’s impact on Honduras’s trade: “Its going to be a negative mark for… Read More Moody’s Coutino Says Honduras Coup May Jeopardize Trade With U.S.
By James Attwood and Nathan Gill June 17 (Bloomberg) — Chile’s construction industry may bottom out next quarter as unemployment in the industry peaks at 21 percent, about double the national rate, according to the country’s Chamber of Construction. “In October we were falling without a parachute, and now we’re falling slowly,” Chairman… Read More Chile Construction May Be Near Bottom, Chamber Says
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
By Nathan Gill and James Attwood June 1 (Bloomberg) — Empresas Copec SA, Chile’s biggest forestry company, rose to the highest in almost a year as first-quarter profit matched some analysts’ estimates and raw-material prices advanced. Copec climbed 1.4 percent to 7,190 pesos in Santiago trading, the highest since June 13. The… Read More Chile’s Copec Rises to One-Year High on Profit, Commodities
By Nathan Gill May 29 (Bloomberg) — La Polar SA, Chile’s best-performing retailer this year, fell in Santiago trading on speculation Omega SA’s merger offer undervalues the company’s department stores. The Santiago-based retailer slipped 0.9 percent to 1,927.9 pesos. The shares surged 15 percent yesterday for the biggest gain in seven months. … Read More Chile’s La Polar Falls on Speculation Omega Undervalues Stock
By Nathan Gill May 29 (Bloomberg) — Ripley Corp SA rose to the highest in more than 11 months on speculation the Chilean retailer will integrate its department-store chain with Grupo Saieh’s supermarkets after Saieh bought a 20 percent stake in the company this month. Ripley climbed 5.8 percent to 418 pesos in… Read More Chile Department Store Ripley Rises to 11-Month High on Merger Speculation
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
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
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
By Nathan Gill and James Attwood May 5 (Bloomberg) — Bank lending in Chile may increase by 2 percent this year after the economy probably “touched bottom” in the first quarter, said Hernan Somerville, president of the country’s banking association. Chile’s economy may recover in the coming months, ending the year little changed from last… Read More Chile Lending May Rise 2%, Bank Association Says
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
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
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
By Nathan Gill and James AttwoodApril 27 (Bloomberg) — Sebastian Pinera, the presidential candidate for the Alliance for Chile coalition, said he’s taking advice on how to sell his stake in Lan Airlines SA and placed shares of other companies he owns in a blind trust. Pinera, who lost the last presidential election in 2005… Read More Chile’s Pinera Transfers Assets, Seeks Advice on Lan Airlines
By Nathan Gill and James Attwood April 16 (Bloomberg) — Farmacias Ahumada SA, Chile’s second-biggest drugstore chain known as Fasa, will reimburse customers hit by inflated medicine prices. Fasa plans to return 2.5 billion pesos ($4.3 million) through refunds or credit for new purchases, Alejandro Rosemblatt, the company’s chief executive, told reporters in Santiago today.… Read More Chile’s Pharmacy Fasa to Reimburse Customers for Inflating Drug Prices
By Nathan Gill and James Attwood April 14 (Bloomberg) — Cia. Sudamericana de Vapores SA, Latin America’s largest container ship company, rose the most in six years in Santiago after saying it’s in talks to raise $750 million to turn around unprofitable shipping operations. The Valparaiso, Chile-based company plans to sell about $350 million in… Read More Chile’s Vapores Rises Most in Six Years on Financing Talks
By Nathan Gill and James AttwoodApril 8 (Bloomberg) — Sebastian Pinera, the presidential candidate for the Alliance for Chile coalition, said he plans to begin handing over control of his stock holdings before this year’s elections. “In April I’m going to transfer voluntarily the administration of all investments in public companies to Chilean financial institutions,”… Read More Chile’s Pinera to Transfer Stock Holdings This Month
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 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 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
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 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) — 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)
