SANTIAGO – After a 3 year trial, the Tribunal de Defense de la Libre Competencia (TDLC) has issued a $19 million USD fine to both Cruz Verde and SalcoBrand for collusion and price-fixing of various medications including birth control pills, antidepressants, and antihistamines in 2007. The fine of $19 million USD is the maximum permitted [...]
SANTIAGO – March of 1996 was the last time unemployment in the Greater Santiago area was so low. Today, after fifteen years, the figure once again has dropped to a level that is officially defined as “full employment”. The December 2011 data showed that only 184,000 people (6.2%) in Santiago were unemployed, according to a [...]
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SANTIAGO — The President of the Senate, Guido Girardi, and Vice President of the Senate, Juan Pablo Letelier, along with the President of the Commission of Mines and Energy, Senator Carlos Cantero, on an official visit to India, aim to strengthen bilateral relations by signing a revised Preferential Trade Agreement (PTA) and discussing India’s experiences of unconventional renewable energy sources. Ambassador of the Republic of Chile, Cristian Barros and his [...]
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Chile’s economy grew by about 6.2 percent in 2011, a very solid growth rate considering the European financial crisis and economic instability affecting much of the world. While 6.2 percent was the average, certain industries in Chile outperformed the overall economy and grew by almost 10 percent, bringing more attention from the investment community within [...]
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SANTIAGO- CORFO (Corporación de Fomento de la Producción), the organization responsible for economic development in Chile has announced details of the new Fénix Fund, which will contribute US$150 million dollars to Chilean companies for mining exploration, with a focus on small to medium enterprises. Mining Minister Hernán de Solminihac and Minister of Economy Pablo Longueira [...]
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Editor’s note: This article seeks to open dialogue on the mining industry in Chile. We welcome comments, critiques and follow-up opinions on the topic. Agriculture is huge in Chile, as it should be everywhere. Lots of countries seem to be changing their agricultural base for manufacturing, services or even information. In light of the recent economic [...]
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SANTIAGO – Fernando Fischmann, founder and CEO of Crystal Lagoons Corp, an energy-efficient swimming pool company, presented at the World Future Energy Summit (WFES) about sustainable cooling methods. In a day and age where global warming presents great challenges, Crystal Lagoons plays an important role. Their new type of cooling eliminates a large amount of [...]
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SANTIAGO – Codelco, Chile’s state-owned copper mining company, expects to more than double its current spending levels over the next two years in search of copper ore deposits across the country as well as abroad. In an increase of approximately 112%, spokesmen for the company have announced that the exploration budget for 2012 and 2013 [...]
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CHACAYES – Patricio Silva was invited to the ProPyme ceremony this month to deliver a speech on his experiences as an environmental entrepreneur. Silva started a small plant nursery a few years ago in his home town of Chacayes in the foothills of the Andes. Soon after he began taking on small projects from the Pacific Hydro company, [...]
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CALIFORNIA, U.S.A. – A team of some of the most gifted Chilean entrepreneurs have begun a month-long workshop in Silicon Valley, California to develop their abilities in the field of venture capitalism. Sponsored by the Chilean Economic Development Agency (CORFO) and administered by SRI International, the program’s participants were chosen from among Chile’s top universities, [...]
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