Chilean Market Wrap Up: March 23, 2013
The week was dominated by news out of Cyprus as they attempted to deal with their banking crisis. SANTIAGO — The plan that was floated between the Cypriot government, European Union (EU) and the...
View ArticleCentral Bank Raises Concern Over Domestic Demand
In a presentation posted on the Chilean Central Bank’s website, Board member Enrique Marshall raises concerns about the growth in domestic demand surpassing the growth in gross domestic production...
View ArticleBanco Santander Struggles with Downgrade and Cyprus
Chile’s second largest lender, Banco Santander Chile (BSAC) was downgraded by two analysts today sending shares to a two-month low, and the events in Cyprus didn’t help. SANTIAGO — Bank of America...
View ArticleStartup Weekend Takes Santiago By Storm
Santiago’s brightest and best entrepreneurs took part in the first ever English Startup Weekend Santiago this weekend, with 11 new businesses being created during an intense 54-hour period. Written by...
View ArticleViña Concha y Toro Misses On Earnings
Chile’s largest wine producer reported earnings below expectations in their 2012 report. PIRQUE — Viña Concha y Toro reported earnings for 2012 below analysts’ expectations sending shares lower in...
View ArticleChilean Market Wrap Up: March 28, Q1 2013
Global markets were preoccupied by bank bailout activities in Cyprus this week, not so much the US$20 billion needed to fix its banking sector, but that its government is taxing the current depositors...
View ArticleCABIFY Details Taxi Behavior with Smartphones
The new service, which includes only high-end vehicles, has arrived in Chile to offer a new premium alternative of transportation. SANTIAGO — CABIFY, the leading Spanish company of high-end transport...
View ArticleCopper Continues To Slide
Copper prices continued its slump on news that China’s Purchasing Managers’ Index (PMI) came in lower than expected for March. SANTIAGO — The PMI number for March was 50.9, although up from February’s...
View ArticleCentral Bank Raises Growth, Lowers Inflation Forecasts
The Chilean Central Bank published their quarterly monetary policy report lowering inflation forecast and raising economic growth estimates, indicating that interest rates will hold for at least six...
View ArticlePort Strikes Costing Millions
The port strike that started in the northern port of Angamos in the city of Mejillones over demands for a 30-minute lunch break has spread to other ports blocking shipments of fruit, wood pulp and most...
View ArticleISPA: Chile Stock Market End of Week April 5 2013
The Chilean stock market saw continued weakness in the first week of the second quarter as companies on the IPSA were sold off due to valuation concerns and the spread of dock strikes saw no end in...
View ArticleInflation Up, Peso Breaks Out of Trading Range
Chile’s National Statistics Institute reported that March’s inflation rate was the fastest in five months sending the peso to its highest level in 1½ years. SANTIAGO — Consumer prices rose 0.4 percent...
View ArticleCopper Prices Spike on a Trifecta of News
Copper prices spiked on a trifecta of news; Chinese inflation figures, the news of the Chilean miners strike and Alcoa’s optimistic comments. Copper prices spiked US$0.07 to US$3.44 per pound, up over...
View ArticlePayPal Invests in Chile
For those of you who have been struggling with selling to the eCommerce market from Chile, look for new changes in the way you can accept international payments using one of the best online payment...
View ArticleCESCO/CRU Copper Conference Highlights Increased Costs
The common concerns from CEOs of mining companies at the annual CESCO/CRU copper conference in Santiago was the increasing costs of labor and energy on top of lower ore grades. Lower demand from China...
View ArticleSalmon Producers Shares Drop On New ISA Outbreak
Shares of Multiexport Foods SA dropped on the Santiago Stock Exchange with news of one of their farming cages has tested positive for the Infectious Salmon Anemia (ISA) virus. The report generated...
View ArticleChilean Market Wrap April 12, 2013
The second quarter is shaping up well as it starts a traditionally weak period in global markets. It was no different in Chile with the IPSA up almost 60 points to close the week at 4,330.45 or up 1.4...
View ArticleTotal Paralysis of Works at Barrick Gold’s Pascua Lama Project
Gold and Silver mining company Barrick Gold has failed to comply with environmental precautions required by the RCA. Fought against by the local indigenous community, Barrick Gold is accused of...
View ArticleChina GDP Rocks Commodities, Especially Gold and Copper
China growth numbers rocked commodities, especially gold, sending it to a two-year low. Lower copper prices dropped the IPSA and the peso. China reported that their gross domestic product (GDP)...
View ArticleEnvironmental Organizations Denounce Codelco Project: “a Catastrophe for...
Environmental organizations have presented their observations concerning the impact of the Expansion Andina 244 project: according to them, it spells disaster for the environment. CENTRAL VALLEY — As...
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