The national company OLX merged with the German startup Frontier Car Group (FCG), better known in Argentina as Americas Car Group, to create OLX Autos. With this agreement, it reaches a valuation of more than one billion dollars, which makes it one of the leading companies in this field in South America. OLX Group disbursed $486 million for the operation; the company will have a presence in Latin American markets, India, Indonesia, Nigeria, Pakistan and the United States, with transactions of more than 130,000 cars per year.
Day: November 4, 2020
In October and spite of the decrease in retentions, the settlement of the field fell 4%
In October, companies in the sector liquidated 1.71 billion dollars, despite the temporary drop in retentions. The figure is 4% below September's records, and the year-on-year fall reaches 13.2%. Agrodollars represent 40% of Argentina's exports.
Agribusiness: soybean generates 390,000 jobs in the country
The soybean employs more than 390 thousand jobs throughout the country, being together with the corn the main crops in Argentina. Soybean has a chain with high technological application that adds value-generating dozens of food, chemical and energy products. It is the world leader and represents 25% of total national exports. In an environment of permanent discouragement and volatility, it was one of the few sectors that triggered the economy with strong growth of production and the generation of exports.
With a turnover of $465 mn in Q2, Mercado Libre set up its fleet of aircraft in Brazil
To speed up the delivery of goods, Mercado Libre today officially launched Meli Air in Brazil, a fleet of aircraft contracted to airlines. The Brazilian market for Mercado Libre represents 53% of the total turnover of the company, which has a presence in 18 countries in the region. In Brazil, the Free Market e-commerce portal invoiced $465 million in the second quarter of the year.
Private dollar deposits decreased by $1.5 billion
According to data from the BCRA, the stock of private deposits in dollars is less than $14.7 billion. It estimates that in the second half of September between $70 and $75 million were deposited daily, projecting this behaviour, it estimates that there will be an outflow of no less than $1.5 billion.
The trade balance with Brazil showed a deficit of $21 million in October
For the sixth consecutive month, Argentina presented a trade deficit with Brazil; exports fell 18.3% year-on-year and imports grew by 12.5% in a context of strong devaluation expectations. The accumulated deficit reaches $491 million so far in 2020.
