The number of registered jobs in the private sector fell 2.6% year-on-year in October, as in last September, in Argentina urban centers, according to the Survey of Labor Indicators (EIL) released by the Ministry of Production and Work.
Vientos La Genoveva I, a subsidiary of Central Puerto, received the full disbursement, $76 million, of the financing agreed with IFC, a member of the World Bank, for the construction of La Genoveva I project, a 88MW wind farm located close to Bahía Blanca, in the southern part of the province of Buenos Aires. Argentina aims to achieving 20% of its total generation from renewable sources by 2025.
A wind farm with four wind turbines that contribute a total of 10 megawatts was opened in Bahía Blanca by a Chinese capital company that invested $17 million. The “García del Río” wind farm of Envision Energy Argentina, with Chinese capitals, is located at kilometer 38 of national route 33, about 40 kilometers from Bahía Blanca, in the south of Buenos Aires.
The Central Bank of Argentina (BCRA) transferred ARG $ 20 billion ($334 million) to the Treasury for temporary advances based on a need and urgency decree authorising this type of operations up to a total of ARG $ 400 billion ($6.7 billion). “The amount is consistent with the seasonal increase in the demand for money that begins to be observed at this time of year,” says a statement from the BCRA.
Telefónica SA said it will stop investing in its subsidiaries in Argentina and other Latin American countries, except Brazil. In the 3rd quarter of 2019, Telefonica’s net debt increase 8.1%, to €38.3 billion ($42.1 billion). Telefonica’s executive president, José María Álvarez-Pallete, said that he is willing to sell, form alliances or obtain external investment to focus on the group’s most profitable markets (Spain, Germany, Brazil and UK).
Economic activity fell 2.1% in September compared to the same month of 2018, while the accumulated of the first nine months of 2019 showed a 2.3% drop, the National Institute of Statistics and Census (INDEC) reported.
According to CEOWORLD magazine’s Argentina Rich List Index For 2019, with an estimated net worth of $3.1 billion, Alejandro Bulgheroni is the wealthiest person in Argentina followed by Alberto Roemmers, with $2.6 billion, Marcos Galperin, $2.1 billion, Gregorio Perez Companc, $1.6 billion, and Eduardo Eurnekian with $1 billion.
President-elect Alberto Fernández said he will not ask for the remaining $11 billion from the $56.3 billion stand-by loan granted by the IMF in 2018. He said that he will “sign a single agreement” with the IMF “and the first rule is to stop asking for money.
Brazilian food company Minerva SA said it is aiming for an initial public offering (IPO) of its Athena Foods subsidiary in April 2020, despite risks associated with the operation in Argentina, where the division gets about 30% of its net sales.
Amid trade tensions with the US, China’s October soybean imports from Argentina increased nearly 29-fold to 959,936 metric tonnes (mt) from 33,200 mt last year, according to the latest Chinese General Administration of Customs report.