Based on "the prolonged severity of capital controls", the US company MSCI, which prepares stock market indexes that guide the bets of significant investment funds, will reclassify Argentina to the category of Independent Markets, from Emerging Markets, one step below Frontier Markets, the status to which the country was expected to fall, according to what investors were expecting. The country's reclassification will take place in November, after three years in the Emerging category.
Vercel, a firm in charge of facilitating the work of web designers through platforms that seek agility and aesthetics, raised $102 million, an investment in which prominent market players such as Bedrock Capital and Accel participated and reached a market value of $1.1 billion.
On the back of solid growth in exports on record commodity prices, the trade balance in May showed a surplus of $1.62 billion, the highest figure in a year.
The national government designed a new gas pipeline system that will save $1.15 billion per year by substituting imports, resulting in annual fiscal savings of almost $600 million. The pipeline system intends to replace all LNG imports, replace declining Bolivian production and supply natural gas to all thermal power plants to replace domestic liquid fuels.
The Argentine industry grew 5.1% in the first four months of 2021 compared to the same period of 2019, with much higher performance compared to other countries such as Brazil (1.8%), Chile (1.4%), Spain (-4.2%), France (-6.5%) or Italy (-1.3%) in the same period.
The Central Bank (BCRA) approved yesterday an agreement with the Central Bank of Paraguay (BCP) to implement the Local Currency Payments System, which will allow payments between individuals or legal entities residing in both countries in both pesos and guaraníes.
PwC presented its new global strategy that involves a total investment of $12 billion for the next five years and the creation of 100,000 new jobs. In the specific case of Argentina, the estimated investment is $45 million between now and 2024, with 1,000 open positions in various areas.
Argentina is one of the 35 countries worldwide where the vaccine to combat the coronavirus is manufactured, together with Brazil and Mexico. In the AstraZeneca vaccine, the active ingredient part produced in the MAbxience laboratory, where 90 million doses have been made and expect to reach 180 million this year. Sputnik V's fractionation and packaging part carry out since last week at the MR Pharma laboratory, where they hope to produce 5 million doses per month. On the other hand, negotiations are progressing to make the Chinese vaccine Sinopharm at Sinergium Biotech part of the Insud Group.
The Brazilian company CVC Group, owner of Almundo, informed the Brazilian Securities and Exchange Commission that it acquired the remaining 39.94% stake in Grupo Bibam (with Biblos, focused on luxury tourism Avantrip, an online agency), both based in Argentina. CVC Corp becomes the most influential travel group in Latin America with this purchase, which already … Continue reading Almundo completes 100% acquisition of Avantrip
YPF Luz's Los Teros Wind Farm, located 45 kilometres from the town of Azul in Buenos Aires, added 52 megawatts and reached 175 megawatts of installed power, equivalent to the electricity needed to supply 215,000 homes. The wind farm has 45 wind turbines installed on a total surface of 3,610 hectares, can produce 838 GWh … Continue reading YPF Luz reached 175 MW in Los Teros wind farm