Chilean wine sales increased by 58% in Ireland

Ireland was one of the countries where Chilean wine sales and exports increased. Concha y Toro, one of the largest national wineries, increased its sales by 58%. The company also shipped 534 thousand boxes to Ireland. In addition, 96% of this corresponded to premium category brands, which improves revenues and margins. So much so that Ireland became the second largest market for the company, especially for its leading brand: Casillero del Diablo.

21% of the world’s largest public companies expect to reach zero emissions by 2030

A global study revealed of the world's 2,000 largest public companies, those that account for about $14 trillion annually in sales, at least 21% currently own zero net commitments as of 2030. The study, developed by the Energy and Climate Intelligence Unit (ECIU) and Oxford Net Zero, also indicates that this commitment has been made by 9% of states and regions in the largest emitting countries and 13% of cities with more than 500,000 inhabitants.

Chile awards China a $1.1 bn build-concession contract

Chile has awarded China Railway Construction Corporation (CRCC) a build-concession contract to upgrade and operate a 195km toll highway - the Talca-Chillán section of Route 5. CRCC offered a total concession income of around $1.1 billion in what Chile’s General Directorate of Public Works Concessions said is the first such contract awarded to a Chinese group. 

Chile’s Codelco wants arbitration with Ecuador over Llurimagua project

Codelco said it had requested international arbitration with Ecuador and its National Mining Company (Enami EP) over the Llurimagua project. Llurimagua could become the first mine Codelco operates abroad following years of scattershot efforts to expand internationally. The project, about 50 miles (80 km) northeast of Ecuador’s capital of Quito, has faced resistance from a nearby community over environmental concerns.

Chile, India discuss furthering trade under Partial Scope Agreement

Delegates from Chile and India are discussing furthering bilateral trade under the so-called Partial Scope Agreement (PSA). Authorities from both countries are holding a series of virtual encounters to discuss analyse the opportunities. Among the topics being discussed are market access, rules of origin, sanitary and phytosanitary measures, and technical barriers to trade.

Chile regulator approves $3 bn Chinese takeover of Naturgy unit

Chile's Fiscalía Nacional Económica (FNE) approved a $3 billion takeover by China's State Grid International Development of Spanish power company Naturgy’s Chilean unit Compania General de Electricidad (CGE). Spain’s Naturgy said last November it had agreed to sell 96% of Chilean unit CGE to China’s State Grid, amid rising investment from the world’s second largest economy in South America.

World Bank projects a 5.5% growth for Chile’s GDP in 2021

The Gross Domestic Product (GDP) in Latin America and The Caribbean fell 6.7% in 2020, according to the World Bank's projection. However, the organization projects a growth of 4.4% in 2021. For Chile, the organization forecasts the country's GDP to expand 5.5% in 2021, which is an improvement compared to the previous projection (4.2%). For 2022, the World Bank estimates a growth of 3.1% and in 2023 2.5%.