Latest news with #Santiago
Bloomberg
a day ago
- Business
- Bloomberg
Chile's Central Bank Is Set to Deliver First Interest Rate Cut of 2025
Chile's central bank will likely cut its interest rate by a quarter-point on Tuesday, lowering borrowing costs for the first time this year as policymakers seize on an improving inflation outlook. Board members led by Rosanna Costa will reduce the overnight rate to 4.75% after markets close, according to all economists in a Bloomberg survey. Policymakers have kept borrowing costs steady for the last four meetings after having lowered them from a high of 11.25% seen in mid-2023.
Washington Post
a day ago
- Business
- Washington Post
LATAM: Q2 Earnings Snapshot
SANTIAGO, Chile — SANTIAGO, Chile — LATAM Airlines Group SA (LTM) on Monday reported profit of $241.6 million in its second quarter. On a per-share basis, the Santiago, Chile-based company said it had net income of 81 cents. The airline posted revenue of $3.28 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $3.22 billion.
GMA Network
a day ago
- Politics
- GMA Network
NBI arrests Chinese allegedly posing as Filipina, says she is another 'Alice Guo'
The National Bureau of Investigation (NBI) on Tuesday announced the arrest of a Chinese who was allegedly misrepresenting herself as a Filipina upon her arrival at the Ninoy Aquino International Airport (NAIA), dubbing her as another 'Alice Guo.' According to the NBI, the woman arrived from Guangdong, China on July 13. The operation stemmed from an intelligence report of a Chinese national who was allegedly using a Filipino name for her business transactions. Using her Filipino name, the NBI said she was able to secure a Philippine passport and was also able to establish several companies. However, verification with the Bureau of Investment showed that she only had a Special Investor's Resident Visa. The NBI also conducted examinations on the fingerprints of their NBI clearance forms, which showed that the fingerprints were identical. Due to this, the Bureau of Immigration has filed a complaint against the woman for violation of the Immigration law, specifically misrepresentation as a Filipino. She is also facing a complaint for violating the Limitations and Conditions of Stay as well as Undesirability. Aside from this, the NBI filed a case against her for violation of the Philippine Passport Act of 1996 with the Prosecutor's Office of Taguig City. 'Director Santiago assures that the NBI will delve deeper into what may be another 'Alice Guo' story,' the NBI said in a statement. Dismissed Bamban, Tarlac Mayor Alice Guo's identity came into question after the raid on the Philippine Offshore Gaming Operator (POGO) hub located in her former municipality as well as Senate inquiries into POGOs. The NBI later said that Alice Guo and Chinese passport holder Guo Hua Ping have the same fingerprints. Among her cases, Guo is facing a quo warranto petition with a Manila court, as well as a petition to cancel her birth certificate with a Tarlac court. —KG, GMA Integrated News
Reuters
7 days ago
- Business
- Reuters
Chile bumps up copper price forecast, flags lagging Collahuasi output
SANTIAGO, July 23 (Reuters) - Top copper supplier Chile on Wednesday bumped up its outlook for prices of the red metal, though it flagged lagging output from a major mine operated by Glencore (GLEN.L), opens new tab and Anglo American (AAL.L), opens new tab as weighing on economic growth. Finance Minister Mario Marcel, in a presentation to Congress, upped the government forecast for average copper prices for this year to $4.28 per pound, from $4.26 per pound previously. Marcel maintained the official estimate for gross domestic product (GDP) growth for this year at 2.5%, though he said non-mining GDP had compensated for a drop in the mining sector's contribution. "In recent months we've seen a moderation in production, primarily due to a drop in Collahuasi's output," he said, referring to the mine operated by Glencore and Anglo American. Earlier on Wednesday, the chair of Chilean state miner Codelco, the world's largest copper producer, told Reuters that the 50% tariffs on copper set to go into effect on August 1 from the United States had influenced record prices there with global uncertainty causing price volatility. Chile's finance ministry maintained its average copper price forecast for next year, at $4.30 per pound. It also held its inflation outlook for this year and next, along with next year's GDP growth forecast.
Yahoo
7 days ago
- Business
- Yahoo
Top copper producer Chile still without details on U.S. tariffs, officials say
By Fabian Cambero SANTIAGO (Reuters) -Chile's mining minister and the chairman of the world's biggest copper producer, Codelco, said on Wednesday they have not yet received details on 50% copper tariffs due to be imposed by the United States on August 1. "At this point, we're all waiting," Maximo Pacheco, chairman of state-run Codelco, told Reuters. He added that the upcoming tariffs had influenced record U.S. copper prices, and that global economic uncertainty was causing price volatility. Chile, the world's biggest supplier of the red metal, is also the top importer of refined copper to the United States. Mining Minister Aurora Williams, after a meeting with Codelco and other producers, said the government would continue discussions with industry leaders. She declined to comment on whether Chile is developing a counter proposal to present to the United States. Sign in to access your portfolio
