Chile’s copper output was reduced only 1% due to Coronavirus

Chile's mining minister, Baldo Prokurica, said that the South American nation's sprawling copper industry so far ranks among the least affected globally by the COVID-19 pandemic. He added that official statistics from Chile state copper agency Cochilco estimate a total reduction in output of about 63,300 tonnes, or approximately 1% of the country´s annual production.

Chile extends access to its market to small-scale Hass avocado growers in Peru

The Chilean Agricultural and Livestock Service (SAG) has authorised the extension of the Hass avocado producing areas from Peru with access to the Chilean market, allowing the incorporation of small producers from the Peruvian regions of Áncash, Apurímac, Ayacucho, Cusco and Huancavelica to the export chain of this fruit, which has a potential of 18 million consumers in Chile.

Banco Santander Chile reached return on average equity of 16.8% in Q1

Banco Santander Chile announced its unaudited results for the three month period ended March 31, 2020 and first quarter 2020 (1Q20). The Bank announced a return on average equity (ROAE) of 16.8% reached in the first quarter of 2020. The net income attributable to shareholders increased 23.4% QoQ and 14.8% YoY, totalling Ch$ 144,014 million ($172.07 million).

US includes Chile on list of trading partners that fail to protect intellectual property

Amazon was included on the list of "infamous markets" accused of committing intellectual property violations, which includes Argentina and Chile among the partners with enforcement problems. The USTR (The United States Trade Representative) singled out Argentina and Chile on a heightened watch list of 10 trading partners that fail to adequately protect intellectual property.

Entel expects to focus most of $433mn investment on mobile and home business

Entel expects a strong performance this year in Chile as quarantine measures increases demand. In the near future, Entel expects to focus most of the $433 million investment for 2020 on the development of mobile and home business in Chile. That figure is down from $600 million in 2019, a decline the company blamed primarily on the fall of the Chilean peso, which hit a historic low this year.

Multi-funds pensions register increases of between 3.99% and 7% despite the Covid-19

Despite the effects of the covid-19 on world economies, in April the multi-fund pensions have resisted positively, according to the bulletin prepared by Ciedess, based on data from the Superintendence of Pensions. So far this month (with quota values up to the 26th), the riskiest funds, type A and B, have recorded positive results of 7.0% and 6.38% respectively, while the moderate risk fund C has shown a variation of 6.20%. The more conservative funds obtained gains of 5.57% for type D and 3.99% for type E.

Home sales in Greater Santiago plummet 60.6% in first quarter

Home sales in Greater Santiago suffered a drop of over 60.6% during the first quarter , compared to the same period last year, amid the effects of the covid-19 pandemic in the country. In the first quarter of 2020, 3,471 units were sold (between houses and apartments), according to the GFK Adimark quarterly report, this is the biggest drop since when the market suffered the blows of the " dot-com bubble ".