Pinera begins second term as Chile’s president

Conservative billionaire Sebastian Pinera was sworn in as Chile’s president yesterday, returning to the job after four years of centre-left rule with promises to revive investments in the world’s top copper producer. Pinera, who governed Chile in 2010-2014, accepted the presidential sash from outgoing socialist president Michelle Bachelet in a ceremony in the Pacific port city of Valparaiso. Pinera was elected in December with a strong mandate, marking a new rightward shift in South America. His second term begins as prices for copper exports are rising, bolstering government revenues and driving growth in Chile’s $250bn economy.