urindebro's blog
Economy to grow 4.5-5% this year despite earthquake, says economy minister
Chile's economy will grow 4.5-5% this year despite the impact from the 8.8 magnitude earthquake that struck the country on February 27, said economy minister Juan Andrés Fontaine
Insurers well prepared to face aftermath of earthquake - Moody's
Chilean insurers are well prepared to face the aftermath of the of the 8.8-magnitude earthquake - the fifth-strongest ever recorded - that occurred in Chile on February 27, given both the relative strength of the country''s earthquake-resistant construction codes and significant insurance catastrophe-loss mitigation tools, said US-based ratings agency Moody's.
Trade group estimates earthquake losses for SMEs at US$5bn
The earthquake that hit Chile on February 27 will cost the country's SMEs at least US$5bn in losses, according to SME trade group Conapyme.
Western Union offers free money transfer services from the US to Chile
Remittances giant Western Union announced it will offer a free money transfer service called "No Transfer Fee" from the US to Chile until March 19.
BancoEstado gives mortgage clients 90 days to file insurance claims
Chilean state bank BancoEstado said it has granted mortgage loan clients who suffered from Saturday's earthquake a period of 90 days to file their insurance claims.
Banco de Chile says Internet services operating normally again
The country's second largest bank, Banco de Chile, informed clients that its web site is now operating normally again. The site had suffered major problems since Saturday's earthquake.
Deutsche Bank estimates impact on Santander Chile net income
Santander Chile has a US$2.8bn loan exposure to the regions most affected by Saturday's earthquake and Deutsche Bank said that for each 5% of those loans that become non-performing, the bank's 2010 net income could drop by 5-6%.
Santander's Botin visits Chile, announces US$600mn credit line for affected areas
The chairman of Spain's Grupo Santander, Emilio Botin, is visiting local banking unit Santander Chile and he announced a US$600mn credit line with preferential terms that will be offered in the areas affected by Saturday's earthquake.
Effect on GDP growth to be short-lived, says Barclays Capital
Barclays Capital said it expects Saturday's earthquake to have a short-lived effect on Chile's GDP growth this year. In a report, it compares the impact that the tsunami in 2004 had on the economies of Indonesia and Thailand. The economy decelerated in Indonesia and contracted in Thailand during the quarter after the tsunami, but growth in both nations returned quickly after that.
GE announces US$2mn in humanitarian assistance
In response to recent natural disasters, GE has announced a new US$2mn commitment to provide humanitarian assistance to those in need. As part of the commitment, US$1.25mn will be designated directly to support the emergency response needs in Chile; the remainder will be contributed to the
