TLA Times | July 02, 2020


Chile enters digital partnership with Singapore, New Zealand

Chile, Singapore and New Zealand have entered into the Digital Economy Partnership Agreement, which is designed to increase digital connectivity between the three countries, Singapore Business Review reports. This is the first digital economy agreement for Singapore. The backers of the agreement predict it will increase trust and efficiency for businesses in the three countries. Details


Peru resumes infrastructure projects valued at $1 billion

Peru’s construction industry is back to work with a $1-billion oath of infrastructure projects, Bnamericas reports. Capeco, the national chamber for the construction sector, says only about 60% to 70% of projects that were going before the pandemic outbreak have resumed. Work has also slowed to about 40% of pre-pandemic levels, according to Capeco. “If local authorities support us with flexibilization of work schedules, it would be much better since we would work with double shifts, which in turn would generate more job opportunities,” the head of Capeco’s building works committee, Jorge Zapata, says. Details


Economy Minister predicts business uptick in the fall

Economy Minister Paulo Guedes says better times are ahead of for business in the fall, The Rio Times reports. Guedes called the COVID-19 pandemic “the real black swan.” “It is a biological bomb. The public calamity produced a particularly acute case of fiscal emergency," he says, adding the country’s economy should turn around by September. Details


Government to pay more for less with finance ministry’s oil hedge

Mexico spends $1 billion a year on hedge, essentially insurance to assure that it can sell oil at a certain price no matter the world market. The hedges are expected to cost about 40% more and deliver less this year, Reuters reports. Nonetheless, the government is going along with the policy to maintain credibility with international investors. “The hedge insures federal revenues,” says Luis Gonzali, a portfolio manager at Franklin Templeton. “Not having this insurance would put pressure on the country’s finances, investor confidence and eventually the credit rating.” Details


Walmart Mexico to restructure, absorb two internal businesses

Walmart’s Mexico unit has said it will absorb two internal entities, Holding de Restaurantes y Servicios and Tiendas Wal-Mart, Reuters reports. The company says the move is simply a restructuring and will involve no outside parties. Walmart has more than 2,000 stores in Mexico. The unit also operates stores in Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua.  Details



Horseback ride in Andes, capped by wine tasting

The ride begins on the banks of the Maipo River. Local cowboys lead the way as you enjoy breathtaking views of the Andes. After the ride, there’s lunch in the village of San Jose de Maipo. The day is topped off with a tour and sampling at Concha y Toro Vineyard. Details


GDP pct. growth in Chile

Source: data.worldbank.org

Currency | Per US Dollar









Figures from July 02,, Source: www.xe.com

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