The oil company YPF announced tonight a new increase, of 3.5% on average, in fuels. The company said the "price update" is due to "increased taxes and biofuels. So far this year, the oil company has raised prices three times, with an accumulated increase of about 12%.
Day: October 16, 2020
Supermercados Dia’s sales in Argentina increased by 17.3%
The Spanish supermarket company, Dia, achieved net sales in Argentina with an annual growth of 17.3%, reaching a value of 181.3 million euros ($ 212 mn) in the third quarter of 2020.
VW increases gearbox exports by $300 million
Volkswagen has just signed a contract for the period 2021-2025 to export some 400,000 additional units of the gearboxes it produces in Córdoba. That will represent revenues of some $300 million. Also, due to the strong demand of pickups in the domestic market, the company will reopen next week the second shift of production in the General Pacheco plant of Buenos Aires, so that around 1,000 workers will return to the activity.
In one year, 302,500 jobs lost in the private sector
Against the backdrop of a deep economic crisis, the number of registered private-sector employees fell by 4.9% year-on-year in July, equivalent to a loss of 302,500 jobs compared to the same month in 2019. In the industry, in particular, employment fell 2.5% year-on-year but rose in the monthly comparison.
Between April and June, 3.7 million jobs lost
The INDEC reported that the number of jobs lost nationally during the first three months of the pandemic and the quarantine reached 3,757,000, a drop of 18%. All types of work were affected, but with greater force hit the "black" and self-employed workers also informal.
The Government launched the Gas Plan to import less: YPF will invest $1.8 billion
The government presented this Thursday in Vaca Muerta the Gas Plan, in which YPF will invest $1.8 billion in the next years. The contracts will sign for four years. The modality will mean a saving of $ 5.63 billion in substitution of imports, and there will be a fiscal saving of $ 2.5 billion concerning the current scheme. YPF's share value fell by 5% after the announcement.
Public debt rose to $332.18 billion in September
In September, the Ministry of Finance registered the third consecutive increase in financial commitments from the public sector, adding another $2.77 billion, reaching a total of $332.18 million.
