Electricity sector sales reduced by 50% in 2019

Sales in the electricity sector fell by an average of 50% according to data from the National Institute of Statistics (INDEC). In the last quarter of 2019 sales of televisions fell 10.7%, digital cameras by 18.8% and GPS equipment by 73.2%. The crisis in the sector has forced firms like Panasonic to leave Argentina. Source: … Continue reading Electricity sector sales reduced by 50% in 2019

500 workers of a cotton company of Vicentín are fired

The firm Algodonera Avellaneda, of the Vicentín group, which has been in cessation of payments since the beginning of last December, granted 500 employees since yesterday, with the argument of the lack of raw material. This decision adds to the 800 operators of the oil plants in the town of San Lorenzo who have been … Continue reading 500 workers of a cotton company of Vicentín are fired

Central Bank is due to lower interest rate to 38% on Thursday

The Central Bank has already made the decision that will be communicated on Thursday, following the Board meeting: the reference rate will drop by two points to 38% to continue the drop curve that began with the change of government. This time the Central decided to keep the downward trend but slowing the pace: the … Continue reading Central Bank is due to lower interest rate to 38% on Thursday

YPF increased the price of gasoline because of a tax increase

The price of YPF super gasoline increased 13 cents per liter and the premium, 15 cents, which means a minimum increase of 0.24%. Unlike other times, there was no official announcement and the oil company explained that it was not a raise, "but a transfer of the carbon dioxide tax (IDC) update." The state-controlled oil … Continue reading YPF increased the price of gasoline because of a tax increase

Grain exporters estimate a loss of $180 mn from export ban

95% of the grain sales to other countries are still suspended.  According to industry sources, only this week, if the registration is closed, sales will be lost for about US $ 180 million. "Economic damages are being generated to exporters without any technical justification. There are more than 10 ships planned to load corn, soybean … Continue reading Grain exporters estimate a loss of $180 mn from export ban