Maolis Castro (EN)
Journalist in Chile
English
Codelco’s CEO Denies Chilean Copper-Mining Giant Is Facing Financial Woes
Máximo Pacheco, CEO of the state-owned copper miner, said the company is “financially robust”, rejecting claims it is heading for insolvency
English
Chile Commemorates 50th Anniversary of Coup d’Etat Amid Political Tensions
The government of President Gabriel Boric headed the events to commemorate the overthrow of Salvador Allende on September 11, 1973, but was not able to unite all of the country’s political spectrum
English
Chile’s Inflation Cools In August
Year-on-year inflation during the month was 5.3%, the lowest in almost two years
English
Chilean Copper Giant Codelco Returns to International Bond Market
The mining company has issued 10- and 30-year bonds in New York to help finance its investments this year, which will require $4.1 billion
English
Gaston Bottazzini Resigns as CEO of Chilean Retail Giant Falabella
The CEO will step down on January 1 after five years in the role, and following months of poor financial results
English
Chile Aims to Clarify Fate of Over 1,000 People Disappeared During Pinochet Dictatorship
On the eve of the 50th anniversary of the coup, President Gabriel Boric has signed a decree to advance with a plan aimed at locating the victims of forced disappearances during the 1973-1990 regime
English
ECLAC Foresees Poverty Reduction In Latin America Stagnating In 2023
In an exclusive interview with Bloomberg Línea, ECLAC’s executive secretary José Manuel Salazar-Xirinachs says that poverty in the region may have been reduced briefly in 2022
English
Chile’s Gabriel Boric Reshuffles Cabinet
Chilean President Gabriel Boric announced changes at the top of five ministries on Wednesday: mining, social development, education, culture and national assets
English
How Will Chile’s Lithium Strategy Impact Mining Companies?
The Chilean government currently has contracts for lithium extraction with SQM and Albemarle, which would benefit from the proposed law, but which would discourage new entrants, according to Fitch Ratings
English
Chilean Lawmakers Ask Gabriel Boric to Consider Resignation of Right-Hand Man
The Lower House approved a draft resolution to ask the President of Chile to consider requesting the departure of his Minister of Social Development
English
Chile’s Economy Contracts for Fifth Straight Month, Albeit Less Than Expected
The country’s monthly economic index dropped 1% in June compared to the same month of 2022, less than expected by analysts consulted for a Bloomberg survey
English
Chile’s Merama Files Lawsuit Against Urbano Design for Alleged Fraud
Lawyers for the Chilean unicorn have filed a lawsuit in Santiago against Urbano Design founders Víctor Vargas and Pablo Gutiérrez after having invested $13 million in their company
English
Chile’s Economy Remains in Free Fall as Mining and Trade Contract
The country’s monthly economic activity index dropped 2.1% in March from a year earlier, with mining output down 8.5% y-o-y and trade 5.4%
English
Chile’s Lithium Policy Continues to Divide Opinion
Mining companies SQM and Albemarle, which saw their shares sink following the president’s announcement that the state will be a majority shareholder in all future contracts, aim to reach agreement with the government
English
Chile’s Lithium Strategy Not a Nationalization, Mining Minister Says
Marcela Hernando talks to Bloomberg Línea about President Gabriel Boric’s policy, which she describes as key to augmenting the country’s wealth, and its impact on the industry
News in English
Belt-Tightening Begins Now, Not in 2023, NotCo’s CEO Says
In an interview with Bloomberg Línea, Matías Muchnick says the company needs to focus on being profitable in the next two years and is not prioritizing new product launches
News in English
Chile’s Falabella Foresees E-Commerce Taking Bigger Share of Overall Sales
Gaston Bottazzini, department store chain Falabella’s CEO, tells Bloomberg Línea about the company’s plans to diversify its revenue streams, the regional business outlook and IKEA’s growth plans in South America
News in English
Chilean Government Rethinks Mining Taxation Plan
The country’s finance ministry has added proposals to the bill being debated in the Senate that would simplify the proposal for mining royalty payments and reduce the ad valorem element
News in English
How Chile’s Government Aims to Overhaul Country’s Aging Pension System
In an interview with Bloomberg Línea, Labor Minister Jeannette Jara talks about the proposed bill that aims to bring the country’s pension system in line with OECD recommendations
English version
Mining in the Metaverse, the Business a Chilean Startup is Chasing
Chilean entrepreneurs have created the Minverso platform, to train workers in the copper-mining industry within the metaverse
English version
Chile Lowers Tax on Copper-Mining Projects in Bid to Ignite Investment
President Gabriel Boric’s government has presented a six-point plan and 28 measures to spur investment in the country
English version
Chile’s Boric Reshuffles Cabinet Following Voters’ Rejection of Draft Constitution
Chilean President Gabriel Boric has made the first adjustments to his team since taking office in March, and which include the exit of Interior Minister Izkia Siches
English version
Ukraine’s Zelenskiy Calls on Latin America to Impose Sanctions on Russia, Cut Trade
The president of the invaded country said Latin American countries should join the sanctions imposed on Russia, and called on them to divulge his “truths”
English version
BHP Will Rethink Chile Investments if New Mining Royalties Law Enacted
The Australian mining company has said the possible effects of the government’s proposals are yet to be calculated, and may discourage investment in the country
English version
Chile’s Inflation Forecasts Darken As US Dollar Rises
Analysts consulted by Bloomberg Línea see the depreciation of the Chilean currency against the US dollar exacerbating inflationary pressure in July and August
English version
Chilean Copper Workers to Begin National Strike
The trade unions of state-owned Codelco have convoked an indefinite stoppage from Wednesday in protest at the government’s plans to close the Ventanas foundry
English version
Hits and Misses: Chile’s Gabriel Boric’s First 100 Days in Office
One-hundred days since taking office, the Chilean left-wing president’s approval rating is around 32%, according to a recent poll, the most abrupt fall in popularity for a leader since 1990
News in English
Venezuela’s Growth Seen Outpacing South American Average In 2022
In an interview with Bloomberg Línea, ECLAC’s Daniel Titelman says the country could bring eight years of recession to an end this year, if economic predictions are correct
Startups
Betterfly Bets on Brazil, Targets More Markets for 2023
Cristóbal della Maggiora, CCO of the Chilean insurtech unicorn, tells Bloomberg Línea about its plans to enter the U.S., Spain and Portugal
English version
Chile’s Gabriel Boric Sworn-In, Faces Major Economic and Political Challenges
The 36-year-old president’s government inherits an economy in slowdown, high inflation and uncertainty concerning the new constitution
News in English
Chile’s Boric Will Face Opposition from Both Right and Left
The President-elect, who takes office on Friday, will have adversaries from various sectors during his mandate, according to analysts
News in English
Crypto’s Entry Into Chile’s RE Sector Pleases Investors
Despite its current volatility, real estate deals in cryptocurrency are emerging as an option in the country
News in English
Startups Should Focus on Success, Not Unicorn Status, NotCo CEO Says
Matías Muchnick, CEO and cofounder of the Chilean startup, talks to Bloomberg Línea about the company’s next moves
Chile
Chile condena ataque a Ucrania y llama a Rusia a retirar sus tropas
El gobierno de Sebastián Piñera identificó a 53 chilenos en territorio ucraniano
News in English
Levita Magnetics to Open AI, Robotics Center in Chile
Founder Alberto Rodríguez-Navarro talks to Bloomberg Línea about the medtech startup’s plans
News in English
Merama, LatAm’s Newest Unicorn, Boasts Chilean Roots
Manuel José León and Domingo Cruzat are the Chilean cofounders of the Mexico and Brazil-based e-commerce platform