The Albanesi group, one of the leading energy generators and leader in the natural gas commercialisation market in Argentina, will implement an investment plan of more than $600 million. They have been working on a complex financial engineering process that involved the extension of two negotiable obligations and modifications of three foreign financings, which allow them to reduce maturities by more than $90 million between 2021/2022.
Month: January 2021
Swiss Medical bought 50% of Instituto Cardiovascular de Buenos Aires
Swiss Medical Group, one of Argentina's leading health insurance groups, has acquired a 50% stake in the Instituto Cardiovascular de Buenos Aires (ICBA). The companies agreed on a strategic partnership that aims to strengthen the ICBA's medical project of excellence, to provide better care for its patients and Swiss Medical's members.
Agribusiness has already lost more than $145 mn due to the transport strike
The transport workers have maintained intermittent roadblocks since Saturday in the central part of the country and could toughen the measure of force while continuing to wait for a call from the government. The agribusiness sector was one of the hardest hit. In the first four days of this week, around 10,000 trucks stopped entering the port, representing an average load of 300,000 tonnes with an approximate value of $145 million. The figures must add $30,000 for each day's delay in loading a ship.
The primary food basket rose by 4.7% in December and accumulated 39.1% in 2020
The Basic Food Basket (CBA) registered an increase of 5.1% in December, and in 2020 showed a cumulative growth of 45.5%, above the general inflation of 36.1%. The Total Basic Food Basket (CBT) cost, which includes clothing and transport, increased by 4.7% in December, and 39.1% in the year. Utility and transport fares are included in the Total Basic Basket and have been frozen since the beginning of the year, while in the Food Basket the food item is predominant and rose the most in recent months.
YPF shares plunge 12% on Wall Street
Guillermo Nielsen's departure from the presidency of YPF continues to affect the oil company's share price. The stock fell 11.8% on the New York Stock Exchange on Thursday, bringing the company's total stock market valuation to less than $1.3 billion, a floor never been reached before, not even during the expropriation of 51% of the company in April 2012. Since Monday, when rumours of Nielsen's possible resignation began, the stock has fallen 19% and is down 35% in a month.
Mercado Libre is already worth almost $100 bn
Mercado Libre's New York Stock Exchange shares have been rising since 23 March and are on track to cross a $100 billion market valuation, tripling their floor from last year. At the close of trading today, Mercado Libre shares on the New York Stock Exchange were up 3.6% and just under $2,000. All because of the boom in its two primary businesses, e-commerce and digital finance, which it leads with its flagship brand, Mercado Pago.
Recession and pandemic mean 1.9 mn fewer jobs than in 2019
The recession, the pandemic and the quarantine hit the labour market very hard, compared to a year ago, there are 1,907,000 fewer jobs nationwide. In the third quarter of last year, there was a year-on-year drop of 9.2%.
YPF: the company’s shares fall by 6.8%
YPF shares fell 6.8% on Wednesday in Buenos Aires and New York. The new drop in the company's shares follows its president's removal, Guillermo Nielsen, and his replacement by the former vice-governor of Santa Cruz, Pablo Gonzalez.
The fiscal deficit was 6.5%, and the financial-fiscal debt was 8.5% in 2020
The National State accounts closed 2020 with a primary deficit of 1 trillion 749,957 million pesos ($20,265.85 bn), equivalent to 6.5% of GDP. The account between what it borrowed and what it repaid showed a financial deficit of 2 trillion, 292,830 million pesos ($26,552.75 bn), equivalent to 8.5% of GDP. Source: Ámbito
EDEN electricity company completed works for $3.8 mn in the north of Buenos Aires
EDEN, the Desa Group company that holds the concession for the electricity distribution service in the north of the Province of Buenos Aires announced the completion of $328 million ($3.8 million) worth of works that will allow the company to improve the quality and availability of the service.
