Last week, Templeton and PIMCO began their exit from the country, divesting some $650 million in bonds issued under national legislation. With a high level of global acceptance, both funds kept their positions in local currency until the end of the first quarter of the year and abandoned, perhaps definitively, the Argentine market.
In 2021, the assets of Provincia Fondos already exceeded 85.5 billion pesos ($916.7 mn) as of mid-April, thus strengthening its growth to reach 3.5% of the market share. It continues to grow, and you can see this increase at a glance in the Chamber of Mutual Funds (FCI) ranking: since the beginning of 2021, Provincia Fondos is among the top ten wealth management companies in the Argentine industry.
Argentina produced 423,400 tons of crude steel during March, 28% more than in February, an increase of 47.9% year-on-year. The impact of improved activity in construction, agribusiness, automotive and household appliances is driving domestic steel demand.
Compressed Natural Gas (CNG) prices for vehicles will increase 30% nationwide as of May 1. The final price will depend on the costs of each station. But it will be around 35 pesos ($0.37) per cubic meter.
Terragene is a multi-biotechnology company founded by scientists from Conicet. It exports 97% of its production for the equivalent of $30 million. The novelty these days is a global alliance with the German company Helm for the development of microorganisms and intelligent bio-molecules for crop protection. These are biological products against pests that support crop growth without damaging the soil.