Under the effect of a high exchange rate gap, the trade surplus fell in October tou$612 million, according to the INDEC on Tuesday. The figure was 65% lower than that recorded in October 2019. This decline caused by a 21.6% year-on-year drop in exports, the highest so far this year. According to data from the official institute of public statistics, foreign sales during the tenth month of the year totalled some $4.6 billion. Imports were $4 billion, with a decline of only 2.8% year-on-year.
Day: November 25, 2020
Grupo Galicia doubled its profits, with a substantial boost in the fintech area
Yesterday, Grupo Financiero Galicia presented to the National Securities Commission the results closed on September 30th. The third quarter of 2020 registered net profits, before other comprehensive results of 99% compared to the same period in 2019. The incorporation of technology accelerated the growth of its digital services during the pandemic.
The government launched an auction for the Gas.Ar Plan for 70 million m3/d
Yesterday, the Government launched the call for the first auction of the Gas.Ar Plan, for 70 million cubic meters per day, for the next four years, and an additional volume for each of the winter periods from 2021 to 2024. The offers shall present on December 2nd, and December 15th they will award. Source: Ámbito
Textile companies plan to invest $250 million in 2021
Textile entrepreneurs look to the future with optimism. They are sure that 2021 will be a year of exit from the crisis, and based on this, they plan investments of $250 million. If the sector's incentive policies remain in place, it estimates that over the next three years 200,000 jobs will recover throughout the agro-textile and clothing chain.
Public companies need $6.9 million per day to operate
Five hundred fifty-seven million pesos per day ($6.9 mn) is the amount needed to sustain the operation of the public companies during the first nine months of the year, 60% more than in 2019.
Seeds, a startup that started with $4,000 and billed $1.01 mn in 2020
Seeds is a young company that assembles work teams to domestic and foreign SMEs and multinational companies that require external services to perform specific tasks. They started at $4,000, and today their business is a boom that exports to the region. The enterprise reached a turnover of 81.5 million pesos ($1.01 mn) in the first ten months of 2020, motivated by the impulse given by the coronavirus pandemic to remote jobs. The projections for 2021 are to reach revenues of 326 million pesos ($ 4.04 mn).
