Makro opened new premises with a $10.5 mn investment

The Dutch group SHV, owner of Makro hypermarkets in Argentina, invested 850 million pesos ($10.5 mn) in opening a new branch of the wholesale chain in Benavídez, province of Buenos Aires. The new location, which will employ 90 people, will open its doors today. The company is converting to a mixed model, between wholesaler and retailer. He ratified his confidence in the country, despite the economic crisis.

Due to the pandemic, unemployment in the city of Buenos Aires jumped to 13.4%

Due to the pandemic, and the quarantine paralyzed vast sectors of the economic activity, in the third quarter of this year in the city of Buenos Aires, almost 199,807 people were unemployed, and unemployment jumped to 13.4%. There is an improvement compared to 14.7% in the second quarter, but a deterioration compared to a year ago when it was 10.5%.

Trade surplus decreased by 65% compared to October 2019

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.

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.

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).

International soybean price closed at $439.15

The price of soybeans in the international market closed yesterday its seventh consecutive day of rising to reach $439.15 per ton, its highest value in six years, a figure that also revalues the local harvest to a record $15.5 billion. It is an ideal scenario for the Argentinean economy that would start receiving the most substantial foreign currency income between March and April next year.