Chile's Senate approved a free trade agreement with Brazil, cementing the country's long-standing relationship with its top trade partner in Latin America. The agreement, which builds on rules facilitating commerce already in effect between Chile and Mercosur bloc nations Brazil, Argentina, Paraguay and Uruguay, is likely to boost thriving trade between the two nations. As both countries have been greatly impacted by COVID-19, this agreement will help regulate and boost trade in several key areas.
A central bank poll told analysts that the benchmark interest rate could remain at its technical low of 0.5% for two years in Chile, then it may rise by 1%. The governing body agreed in late March to cut the Monetary Policy Rate (MPR) to 0.5% due to the weakness of the economy and the uncertain future due to the pandemic. Consumer prices for their part could show a variation of 0.1% in August and of 2.5% 11 months ahead. Economic activity may fall by 12% in July, while in the third quarter the GDP could fall by 9%, according to the Economic Expectations Survey (EEE).
Nokia announced that Movistar Chile, Telefónica's affiliate in Chile, has deployed Nokia IMPACT CDP Entitlement Server software in order to offer more advanced services for selected smartwatch models and to more efficiently manage those services. The deployment makes Movistar Chile the first operator in the country to offer services for advanced smartwatches with cellular capabilities, without being connected to a smartphone companion device.
Matador Mining Ltd has boosted its technical expertise with the appointment of highly experienced geologist, Warren Potma, as its new fulltime exploration manager. Potma's more than 25 years of experience specialising in structural geology (MSc), geochemistry and geometallurgy will help position the company to deliver on its target of identifying new discoveries across the Cape Ray tenements in Canada while continuing to grow existing resources.
According to data provided by the Superintendency of Pensions, within the framework of the withdrawal of 10% of pension funds, payments add up to a total amount of $5,008 million. The average amount of payment of the first installment per member amounts to $1,085,467. The data reveals that a total of 8,545,306 people have entered the request to access the partial withdrawal of their funds, a figure equivalent to 77% of the affiliates to the system.