Insect business: Mendoza exported 440 mn flies to Morocco

The Institute of Agricultural Health and Quality of Mendoza (Iscamen) announced the sale of 440 million sterile Mediterranean flies to Morocco. So far, the material used by Morocco was provided by the sterile insect production plant in Valencia, Spain. From March, Argentine province of Mendoza will send from the Bioplanta Santa Rosa, located 90 km from the capital, shipments of 10 million sterile flies per week.

Moratorium for 600,000 SMEs that have a $427.9 bn debt with Bs.As. province

Nearly 600 thousand SMEs that maintain debts with the Treasury of the province of Buenos Aires for about AR$26billion ($427.9billion), will be able to apply from March 2 to a moratorium which includes "total interest, fines and punitive removals" plus capital payment in instalments up to 10 years.

Mexico’s Grupo Axo takes over Nike in Argentina

Mexico's Grupo Axo acquired Nike's operations in Argentina, Chile and Uruguay in a deal that still needs Argentine government approval. The agreement figure was not disclosed but could exceed $ 200 million. Axo operates 800 stores and owns Promoda, an off-price retailer, and Privalia, a multibrand e-commerce platform. It also has exclusive rights to more than 30 brands, including Calvin Klein, Guess, Speedo and Tommy Hilfiger.