Chile English News Blog, business

Chile s airline industry booming forecasts for 2007 rise (business)

Posted by Giovanni: (business) Despite being thwarted in its recent bid to buy a share in Brazilian airline Nova Varig, Chile's main carrier LAN is booming, and forecasts confidently expect an 18.6% increase over 2006 revenues. Original source: Reuters . [404 Check: was link to http:/ / investing. reuters. co. uk/ news/ articleinvesting. aspx type=marketsNewsUS and storyID=2007
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Head of National Mining Company dismissed by President (business)

Posted by Giovanni: (business) Oscar Landerretche, who has led the National Mining Company (ENAMI) for the past year, has been dismissed by President Michelle Bachelet. Original source: The Santiago Times . Enami VP forced to resign
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Two Groups Visit Chile To Boost Commerce (business)

Posted by Shannon: (business) Two Philadelphia based organizations spent four days at a conference discussing the market trends and how to boost commerce with the country. A team of 22 people attended this sponsored conference which was dubbed "United States and Chile: Strategic Partners in Business and Trade". Original source: The Bulletin . Trade Winds: Local Groups Visit
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Chile Ranks 27th out of 65 (business)

Posted by Shannon: (business) Following the labor strike last year Chile's ranking on the world market of investing in mining plummeted from 4th last year to 27th out of 65 countries, states and provinces. Chile is the world's biggest copper producer the Fraser Institute stated today after a survey of 333 mining companies that the strike may have sparked the drop. Original
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17 Million Ounces of Gold Hidden (business)

Posted by Shannon: (business) The peaksof the Andes mountains are desolate at more than 5,000 meters but under the ground this spot between Chile and Agrentina is a treasure of at least 17 million ounces of gold. In tolday's market at the prices being dictated this gold would have a market value of some $11 billion. Original source: Reuters . Barren Chile Andes hide world
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ATACAMA MINERALS Mines In Chile (business)

Posted by Shannon: (business) Normally Canadian mining companies mine for copper and gold in Chiles mines but ATACAMA MINERALS is opting instead to mine industrial minerals. This company produces iodine, sodium sulphate and nitrate from its Aquas Blancas property. Chile has produced 62% of the world's iodine in 2004. Original source: Canadian Mining Journal . CANADIAN
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Japan s First Trade Agreement in South America (business)

Posted by Shannon: (business) Japan announced that it expects to sign a free trade deal with Chile in March. This will be Japan's first agreement with a South American country. Chile and Japan hope to bring this agreement into play around September. Original source: Gulf Daily News . Japan-Chile to sign free trade pact in March
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Students Get Break (business)

Posted by Shannon: (business) Because of the glitches in getting the new bus system off the ground this month Chilean President, Michelle Bachelet, is waiving the studen bus fares for the first three days of next week. Increased employee lateness could cause further delays in the first few weeks. Original source: Bloomberg.com . Chile Waives Student Fares After Delays in
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Copper Hits Highest Gain (business)

Posted by Shannon: (business) Copper is the nation's largest export and has posted its biggest weekly gain since May. This has helped the Chile's peso to continue to trade near the highest level against the dollar this year. Original source: Bloomberg.com . Chilean Peso Trades Near Seven-Week High as Copper Gains
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Chilean Stocks take big fall (business)

Posted by Shannon: (business) Chilean stock indexes recorded their biggest one-day fall in eight month. The retreat means Chile's all-market index has whittled its six-month gain to just over 35 percent. A lot of people had been expecting a correction and a lot of short sales have been made. Heavily weighted retail and energy companies led the decline. Original source:
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Health Ministry threatens to pull Kent cigarettes for noncomplia (business)

Posted by Shannon: (business) The new law requires equal space on the box s surface for brand advertising and government designed health warnings. The new Kent packs are designed to open up like a book. Kent s parent company denies any claims that the pack violates the law, because the extra advertising is displayed inside the box and not subject to the 50/50 rule. The
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Protesters burn city bus (business)

Posted by Shannon: (business) Two protesters boarded a bus, forced the driver and passengers off and then torched the bus. They told the driver they were protesting Plan Transantiago, the plan which proposes drastic changes to the city's public transportation system. The plan could even affect the timing of classes in the city schools. Original source: Santiago Times . CHILE
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Sebastian Pinera to face Securities charges (business)

Posted by Shannon: (business) Pinera, the losing candidate in last year's presidential election, is going to be charged with insider trading. His lawyer says the charges may have been politically influenced. The Securities superintendant denies that accusation. Original source: Bloomberg . Chile Says Ex-Presidential Candidate Faces Securities Charges
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Bad politics, good business (business)

Posted by Wilbur Corncob: (business) The basis for the much-touted "success" of Chile's economy can be summed up as: naked repression allowed bosses in Chile to boost their profits by brutally driving down workers' living standards through high unemployment, low wages, jacked-up prices, and regimented labor. Original source: The Militant . How capitalists used Pinochet
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