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.
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 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 ".
The Minister of Economy announced that around 160 shopping centres throughout Chile will begin to open in the coming weeks with various security and health measures. This strategy will start May 4th with the opening of the Mall Marina in Viña.
The dollar fell sharply in Tuesday's April 28 session amid global currency weakness amid market optimism about plans by the world's leading economies to ease confinement. The greenback closed with a decline of CH$14.40 and ended in peaks of CH$845.00 seller and CH$844.70 buyer.