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, 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%.
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.
Yesterday, Grupo Financiero Galicia presented to the National Securities Commission the results closed on September 30th. The third quarter of 2020 registered net profits, before other comprehensive results of 99% compared to the same period in 2019. The incorporation of technology accelerated the growth of its digital services during the pandemic.
Yesterday, the Government launched the call for the first auction of the Gas.Ar Plan, for 70 million cubic meters per day, for the next four years, and an additional volume for each of the winter periods from 2021 to 2024. The offers shall present on December 2nd, and December 15th they will award. Source: Ámbito
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.
Five hundred fifty-seven million pesos per day ($6.9 mn) is the amount needed to sustain the operation of the public companies during the first nine months of the year, 60% more than in 2019.
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).
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.
The participation of imports of Argentine origin in Brazil had in October an interannual improvement from 5.45% to 6.45% with a total value of $798.7 million. It is due to the higher demand from Brazil that is being supplied by the Argentine industry.