New York Judge Loretta Preska ruled against the country in the case brought by the vulture fund Aurelius due to how during 2014, Cristina Fernández de Kirchner's government modified the mechanism for measuring the national GDP. If the case settled, the country should pay a minimum of $1.2 billion for the GDP Coupon. According to Preska, the government acted in "bad faith".
With an investment of $8 million, the Brazilian firm Raízen - Shell's licensee in Argentina - inaugurated yesterday at its Dock Sud refinery to produce propellant gas for the cosmetics manufacturing industry. The plant is one of the first to be carried out within Raízen's investment plan for $715 million for 2020/23, which the Government announced.
Formal employment in the construction industry continues to recover and in January registered a 2% monthly growth, thus exceeding 300,000 jobs once again. Construction employment grew by 2% monthly in January.
Sociedad Comercial del Plata closed 2020 with a net profit of Ps. 892 million ($9.7 mn), despite a 14% year-on-year drop in consolidated sales.
Trufas del Nuevo Mundo is an SME with more than 50 hectares in the town of Espartillar in the province of Buenos Aires and, by 2024, expects to reach an annual production of 1,500 kilograms. In the European market, trufas worth more than 1,500 euros per kilo. In Trufas del Nuevo Mundo, the export value ranges between $750 and $900, although they reached $1,100. From its beginnings in 2012 to the present, the company invested some $ 3.6 million. The investment values represent 30% of the profit.
The World Bank improved its growth projection for the Argentine economy this year: the entity estimates that the GDP will recover by 6.4%, 1.5 percentage points more than foreseen in its previous report. Thus, it is closer to different private estimates that show that the rebound for this year could, if some factors are taken into account, exceed 7%.