Latin American e-commerce giant Mercado Libre will invest $420 million in Mexico in 2020, as part of its continuing battle with Amazon.com to gain a larger slice of the country’s lucrative online retailing market. The online retailer, which is based in Buenos Aires, Argentina, has invested more than $1 billion in expansion efforts in Mexico since 2017 to compete with other online retailers.
Latin America Development Bank and Argentina agreed a series of loans $700 million. The loan will be use in initiatives to build 103 new educational buildings, the reconditioning of 130 kms of roads, the increase in the generation and transmission of energy; advance in the renovation of the Belgrano Sur railway; more than 3,000 rooms solutions among other works of socio-urban integration and the execution of a project to improve the water supply in the Province of Buenos Aires.
The state oil company YPF records a loss of AR$30 billion in 2019, one of its worst results in the last ten years.
The grain exporters conveyed their rejection of any tax increase and a request for a reduction of the duties. The exporters warn of a loss of business of US$180 million if registration to export soybeans and other key agricultural products is not opened this week.
The company YPF Luz agreed with HSBC Bank a financing contract for $30 million that guarantees the completion of the construction of a thermal plant in the Manantiales Behr field, in the province of Chubut, where it already operates a wind farm.
February’s tax collection registered a 42.6% increase, with a total of AR$471,7 billion ($7.6 billion), according to Argentina’s tax department (AFIP). Although the increase is significant, it is still below the monthly inflation.