Search Results

  • ARGENTINA: Merval Rises 0.59% In Volatile Session Merval, the main index of the Buenos Aires Stock Exchange, rose 0.59% Wednesday, closing at 24,358.04 points in a volatile session in which stocks swell between gains and losses until after the United States Federal Reserve Bank's decision to keep its benchmark interest rate unchanged, as expected. The Fed also announced that it would begin next month to reduce the assets on its balance sheet, also as expected by analysts. "In a day without great news at the local level, the most momentous came from abroad," said Eduardo Fern?ndez de Rava Burs?til. "The United States monetary authority kept interest rates unchanged, something that all markets in the world were expecting. On the other hand, the Fed also announced the end of the era of economic stimuli that came after the 2008 crisis and projected a rate hike from year-end. Global markets reacted almost unchanged to that piece of news." The shares of Autopistas del Sol (+4,8..

    ARGENTINA: Merval Rises 0.59% In Volatile Session

    ARGENTINA: Merval Rises 0.59% In Volatile Session Merval, the main index of the Buenos Aires Stock Exchange, rose 0.59% Wednesday, closing at 24,358.04 points in a volatile session in which stocks swell between gains and losses until after the United States Federal Reserve Bank's decision to keep its benchmark interest rate unchanged, as expected. The Fed also announced that it would begin next month to reduce the assets on its balance sheet, also as expected by analysts. "In a day without great news at the local level, the most momentous came from abroad," said Eduardo Fern?ndez de Rava Burs?til. "The United States monetary authority kept interest rates unchanged, something that all markets in the world were expecting. On the other hand, the Fed also announced the end of the era of economic stimuli that came after the 2008 crisis and projected a rate hike from year-end. Global markets reacted almost unchanged to that piece of news." The shares of Autopistas del Sol (+4,8..
    Read More
  • ARGENTINA: Reserves Increase By US$ 1.86 Billion In August (Update) The Argentinean Central Bank (BCRA) said international reserves increased by US$ 1.862 billion in August, closing the month at US$ 48.877 billion. During August, the increase in international reserves was primarily due to the National Treasury's foreign currency income for bonds placements for US$ 6.156 billion. Also, the National Treasury faced US$ 2.032 billion in bill maturities and made cancellations of capital and interest to international organizations and holders of other securities denominated in foreign currency for approximately US$ 220 million. In addition, a US $ 72 million payment was made to the Latin American Integration Association (ALADI). In August, the National Treasury sold US$ 2.1 billion, and banks and other entities, US $ 362 million. This total was purchased by private sector clients for US$ 1,903 million through the Single Market and Free of Exchange and by the BCRA for US$ 567 m..

    ARGENTINA: Reserves Increase By US$ 1.86 Billion In August (Update)

    ARGENTINA: Reserves Increase By US$ 1.86 Billion In August (Update) The Argentinean Central Bank (BCRA) said international reserves increased by US$ 1.862 billion in August, closing the month at US$ 48.877 billion. During August, the increase in international reserves was primarily due to the National Treasury's foreign currency income for bonds placements for US$ 6.156 billion. Also, the National Treasury faced US$ 2.032 billion in bill maturities and made cancellations of capital and interest to international organizations and holders of other securities denominated in foreign currency for approximately US$ 220 million. In addition, a US $ 72 million payment was made to the Latin American Integration Association (ALADI). In August, the National Treasury sold US$ 2.1 billion, and banks and other entities, US $ 362 million. This total was purchased by private sector clients for US$ 1,903 million through the Single Market and Free of Exchange and by the BCRA for US$ 567 m..
    Read More
  • ARGENTINA: International Reserves Increase By US$ 1.862 Billion In August The Argentinean Central Bank (BCRA) said international reserves increased by US$ 1.862 billion in August, closing the month at US$ 48.877 billion. During August, the increase in international reserves was primarily due to the National Treasury's foreign currency income for bonds placements for US$ 6.156 billion.

    ARGENTINA: International Reserves Increase By US$ 1.862 Billion In August

    ARGENTINA: International Reserves Increase By US$ 1.862 Billion In August The Argentinean Central Bank (BCRA) said international reserves increased by US$ 1.862 billion in August, closing the month at US$ 48.877 billion. During August, the increase in international reserves was primarily due to the National Treasury's foreign currency income for bonds placements for US$ 6.156 billion.
    Read More
  • ARGENTINA: EU Formalizes Tariff Reduction On Argentinean Biodiesel The European Union (EU) made official the reduction in the tariffs on Argentinean biodiesel, following the decision to reopen the bloc to the product earlier this month. As a result, the Argentinean biodiesel exports to the EU would be taxed at 15% on average. According to the Argentinean Ministry of Agroindustry, the South American country recovers an export destination that in 2011 sold 1,488,710 tons in volume for more than US$ 1.8 billion. In 2013, the EU imposed an anti-dumping measure, with definitive tariffs of almost 25% on the Argentinean product. The case was brought by Argentina to the WTO. Last year, WTO ruled against the UE decision and forced it to drastically reduce countervailing duties for Argentinean biodiesel. On September 8, the body approved in Brussels a drop in import duties to reach a 4.5% to 10% range. The news comes a few weeks after the United States applied a sharp increase in tarif..

    ARGENTINA: EU Formalizes Tariff Reduction On Argentinean Biodiesel

    ARGENTINA: EU Formalizes Tariff Reduction On Argentinean Biodiesel The European Union (EU) made official the reduction in the tariffs on Argentinean biodiesel, following the decision to reopen the bloc to the product earlier this month. As a result, the Argentinean biodiesel exports to the EU would be taxed at 15% on average. According to the Argentinean Ministry of Agroindustry, the South American country recovers an export destination that in 2011 sold 1,488,710 tons in volume for more than US$ 1.8 billion. In 2013, the EU imposed an anti-dumping measure, with definitive tariffs of almost 25% on the Argentinean product. The case was brought by Argentina to the WTO. Last year, WTO ruled against the UE decision and forced it to drastically reduce countervailing duties for Argentinean biodiesel. On September 8, the body approved in Brussels a drop in import duties to reach a 4.5% to 10% range. The news comes a few weeks after the United States applied a sharp increase in tarif..
    Read More
  • ARGENTINA: Merval Rises 1.31% On Gas Shares Merval, the main index of the Buenos Aires Stock Exchange, rose 1.31% Tuesday, closing at 24,228.19 points, tracking the gains by energy companies and gas distributors and in reference markets. Viviana Bonifati, an analyst at Intervalores, indicated that the highlight was the good performance of the gas sector. In Santa Cruz, the provincial Assembly moved ahead with a memorandum of understanding between Argentina's state-owned YPF and the local government through which the province authorizes areduction in its royalties in exchange for an output increase in four oil areas. The shares of Transener (+6.23%), TGS (+6.13%), TGN (+4.03%), Distribuidora de Gas (+3.42%), and Edenor (+2.91%) rose, while Agrometal (-2.62%), Costanera (-1.04%), and Comercial del Plata (-0.58%) fell. The locally traded U.S. dollar rose 0.11%, closing at 17.14 Argentinean pesos demanded by banks and investors. "When the foreign exchange market opened, the..

    ARGENTINA: Merval Rises 1.31% On Gas Shares

    ARGENTINA: Merval Rises 1.31% On Gas Shares Merval, the main index of the Buenos Aires Stock Exchange, rose 1.31% Tuesday, closing at 24,228.19 points, tracking the gains by energy companies and gas distributors and in reference markets. Viviana Bonifati, an analyst at Intervalores, indicated that the highlight was the good performance of the gas sector. In Santa Cruz, the provincial Assembly moved ahead with a memorandum of understanding between Argentina's state-owned YPF and the local government through which the province authorizes areduction in its royalties in exchange for an output increase in four oil areas. The shares of Transener (+6.23%), TGS (+6.13%), TGN (+4.03%), Distribuidora de Gas (+3.42%), and Edenor (+2.91%) rose, while Agrometal (-2.62%), Costanera (-1.04%), and Comercial del Plata (-0.58%) fell. The locally traded U.S. dollar rose 0.11%, closing at 17.14 Argentinean pesos demanded by banks and investors. "When the foreign exchange market opened, the..
    Read More
  • ARGENTINA: 12-month Inflation Expectations Remain At 20% - Survey The annual inflation expected by the Argentinean population for the next 12 months remains at 20% in September, according to Torcuato Di Tella University's monthly Survey of Expectations of Inflation (EI). Regarding the average, inflation expectations at the national level fell 2.8 percentage points in September when compared to August, to 25.1%. Both the median and average expectations remain above the official central bank target of between 12% and 17% for 2017.

    ARGENTINA: 12-month Inflation Expectations Remain At 20% – Survey

    ARGENTINA: 12-month Inflation Expectations Remain At 20% - Survey The annual inflation expected by the Argentinean population for the next 12 months remains at 20% in September, according to Torcuato Di Tella University's monthly Survey of Expectations of Inflation (EI). Regarding the average, inflation expectations at the national level fell 2.8 percentage points in September when compared to August, to 25.1%. Both the median and average expectations remain above the official central bank target of between 12% and 17% for 2017.
    Read More
  • ARGENTINA: Country And United Arab Emirates Plan To Boost Bilateral Trade Argentina and the United Arab Emirates (UAE) intend to boost bilateral exchange, expanding and diversifying their current trading ties. Both countries presented interest in their respective markets at the sidelines of the 72nd United Nations General Assembly, held in New York City. At a meeting between the Argentinean Foreign Minister Jorge Faurie and the UAE Minister of Foreign Affairs and Cooperation, Sheikh Abdullah Bin Zayed Al Nahyan, Faurie said that Argentina "can contribute even more to one of the main policies of the Arab region: food security," according to a statement released by Buenos Aires. Regarding energy issues, Argentina considers the UAE as a strategic partner, with a specific interest in the conclusion of a bilateral agreement on renewable power sources. "Faurie and his colleagues discussed a possible cooperation in the peaceful use of nuclear energy for technological developments an..

    ARGENTINA: Country And United Arab Emirates Plan To Boost Bilateral Trade

    ARGENTINA: Country And United Arab Emirates Plan To Boost Bilateral Trade Argentina and the United Arab Emirates (UAE) intend to boost bilateral exchange, expanding and diversifying their current trading ties. Both countries presented interest in their respective markets at the sidelines of the 72nd United Nations General Assembly, held in New York City. At a meeting between the Argentinean Foreign Minister Jorge Faurie and the UAE Minister of Foreign Affairs and Cooperation, Sheikh Abdullah Bin Zayed Al Nahyan, Faurie said that Argentina "can contribute even more to one of the main policies of the Arab region: food security," according to a statement released by Buenos Aires. Regarding energy issues, Argentina considers the UAE as a strategic partner, with a specific interest in the conclusion of a bilateral agreement on renewable power sources. "Faurie and his colleagues discussed a possible cooperation in the peaceful use of nuclear energy for technological developments an..
    Read More
  • ARGENTINA: Primary Fiscal Deficit Falls 30% In August On Annual Basis Argentina's Ministry of Finance reported a 24.65 billion pesos (US$ 1.44 billion) deficit in August's primary result of the national non-financial public sector. The result is 30% lower than the deficit posted in August 2016. The deficit reduction is primarily due to a 31% growth in revenue compared to the same month of the previous year, while spending growth slowed down to a 17% increase. It was the lowest year-on-year increase in spending in the last 16 months. The deceleration in expenses is primarily due to a 30% year-on-year reduction in spending on economic subsidies, including a 38.6% annual drop in subsidies for the energy sector. The Argentinean government aims to meet the fiscal target for the third consecutive quarter, since the accumulated deficit in the first eight months of the year was 1.9% of the Gross Domestic Product (PNI), while the target cumulative for the third quarter is 3...

    ARGENTINA: Primary Fiscal Deficit Falls 30% In August On Annual Basis

    ARGENTINA: Primary Fiscal Deficit Falls 30% In August On Annual Basis Argentina's Ministry of Finance reported a 24.65 billion pesos (US$ 1.44 billion) deficit in August's primary result of the national non-financial public sector. The result is 30% lower than the deficit posted in August 2016. The deficit reduction is primarily due to a 31% growth in revenue compared to the same month of the previous year, while spending growth slowed down to a 17% increase. It was the lowest year-on-year increase in spending in the last 16 months. The deceleration in expenses is primarily due to a 30% year-on-year reduction in spending on economic subsidies, including a 38.6% annual drop in subsidies for the energy sector. The Argentinean government aims to meet the fiscal target for the third consecutive quarter, since the accumulated deficit in the first eight months of the year was 1.9% of the Gross Domestic Product (PNI), while the target cumulative for the third quarter is 3...
    Read More
  • ARGENTINA: Merval Rises 0.82%, Reversing Initial Losses Merval, the main index of the Buenos Aires Stock Exchange, rose 0.82% Monday, closing at 23,912.22 points, reversing initial losses, driven by banking and energy shares. Also, investors are tracking the launch of the campaigning season for the October legislative elections. "The Merval index is still within a range between 23,500 and 24,300 points. Today the market tested the minimum level range, and the leading stocks rebounded once it was reached," said Eduardo Fern?ndez, an analyst at Rava Burs?til. On the corporate side, Petrobras fell 0.34% after reporting that its total oil and gas production fell 0.73% in August compared to July. The shares of Banco Franc?s (+5.02%), Agrometal (+4.52%), Transener (+2.86%), Comercial del Plata (+1.80%), and Siderar (+1.67%) rose, while Holcim (-0.94%), Aluar (-0.80%), San Miguel (-0.73%), and Costanera (-0.69%). The locally traded U.S. dollar rose 0.85%, closing at 17.12 Argentine..

    ARGENTINA: Merval Rises 0.82%, Reversing Initial Losses

    ARGENTINA: Merval Rises 0.82%, Reversing Initial Losses Merval, the main index of the Buenos Aires Stock Exchange, rose 0.82% Monday, closing at 23,912.22 points, reversing initial losses, driven by banking and energy shares. Also, investors are tracking the launch of the campaigning season for the October legislative elections. "The Merval index is still within a range between 23,500 and 24,300 points. Today the market tested the minimum level range, and the leading stocks rebounded once it was reached," said Eduardo Fern?ndez, an analyst at Rava Burs?til. On the corporate side, Petrobras fell 0.34% after reporting that its total oil and gas production fell 0.73% in August compared to July. The shares of Banco Franc?s (+5.02%), Agrometal (+4.52%), Transener (+2.86%), Comercial del Plata (+1.80%), and Siderar (+1.67%) rose, while Holcim (-0.94%), Aluar (-0.80%), San Miguel (-0.73%), and Costanera (-0.69%). The locally traded U.S. dollar rose 0.85%, closing at 17.12 Argentine..
    Read More
  • ARGENTINA: Minister Defends Labor Reform, But Brazil 'is Not A Mirror' Argentina's Finance Minister Nicolas Dujovne said that the Mauricio Macri's administration would achieve a labor reform that "is going to be very important for Argentina," but noted that the reform recently carried out in Brazil is not a mirror for his country. "All the reforms being promoted by the Ministry of Labor in talks with the unions need to respect the country's idiosyncrasies. And we will achieve a reform that will be very important for Argentina," said the official in statements to radio Metro. When asked if the Argentinean reform would be similar to that carried out in the neighboring Brazil, the official noted that "every country has to respect its particularities and has to seek consensus, because the reforms that remain are those that were agreed upon." In July, the Brazilian Congress passed a bill that allows direct agreements between employers and employees to prev..

    ARGENTINA: Minister Defends Labor Reform, But Brazil 'is Not A Mirror'

    ARGENTINA: Minister Defends Labor Reform, But Brazil 'is Not A Mirror' Argentina's Finance Minister Nicolas Dujovne said that the Mauricio Macri's administration would achieve a labor reform that "is going to be very important for Argentina," but noted that the reform recently carried out in Brazil is not a mirror for his country. "All the reforms being promoted by the Ministry of Labor in talks with the unions need to respect the country's idiosyncrasies. And we will achieve a reform that will be very important for Argentina," said the official in statements to radio Metro. When asked if the Argentinean reform would be similar to that carried out in the neighboring Brazil, the official noted that "every country has to respect its particularities and has to seek consensus, because the reforms that remain are those that were agreed upon." In July, the Brazilian Congress passed a bill that allows direct agreements between employers and employees to prev..
    Read More