EconomyLoop
where regional business news becomes global to everyone

Ice patrol HMS Protector joins the search for the missing Argentine submarine

The Royal Navy has deployed ice patrol ship HMS Protector to help search for an Argentine submarine that went missing in the South Atlantic with 44 people on board. Contact with the Argentine military sub ARA San Juan was lost three days ago, Wednesd... read more

 Merco Press3 hours ago

     
International operation to rescue Argentine submarine lost in the South Atlantic

The Argentine navy has stepped up its search of the South Atlantic for a submarine with 44 crew on board that remains missing two days after its last communication on Wednesday. ARA San Juan was in the western south Atlantic some 432 kilometers from ... read more

 Merco Press12 hours ago
October inflation in Argentina reaches 1.5% and 19,4% in ten months

Argentina’s consumer prices rose 1.5% in October, government statistics agency Indec said on Tuesday, bringing 10-month inflation to 19.4%. It was the second month in a row that cumulative inflation for 2017 was above the upper band of the central ba... read more

 Merco Press2 days ago
Argentina en route to becoming region's leading producer and exporter of "white petroleum" lithium

Argentina is disputing with Chile South America’s top producer of the mineral lithium, a key ingredient for the production of electric cars and its rechargeable batteries allowing them to retain energy far longer, and as a consequence its price has s... read more

 Merco Press2 days ago
Argentine navy and air force dispute operation of the five refurbished Super Etendard

The purchase by Argentina of five refurbished French Super Etendard to help with security measures when Argentina hosts the 2018 G20 summit, which will bring together the world's top leaders, has triggered a dispute among the country's services since... read more

 Merco Press2 days ago
Argentina and Chile begin Antarctic combined naval patrolling

Argentina's ARA "Islas Malvinas" has started this season's Antarctic duty as part of the Antarctic combined naval patrolling, responsibility which Argentina shares with neighboring Chile since 1988.... read more

 Merco Press2 days ago
Private construction and infrastructure boosting Argentina's steel industry

Argentina's Acindar steelmaker is currently working at 70% of its installed capacity, which is 1.7 million metric tons of crude steel and 1.4 million mt of finished steel. In 2016, Acindar produced 962,000 mt of steel products. Expectation for 2017 i... read more

 Merco Press4 days ago
IMF mission praises Macri's reforms but warns on inflation and budget deficit

An IMF visiting team in Buenos Aires concluded its annual review of Argentina's economy and praised the efforts of President Mauricio Macri's nearly two-year-old government to transform the economy saying it has yielded "significant" gains, but also ... read more

 Merco Press5 days ago
Falklands demining operations at Port Harriet Farm, Mt Longdon and Goose Green

DYNASAFE Bactec recently returned to the Falkland Islands to continue demining operations, namely the completion of Phase 5a by March 18. “The break of around 10 weeks has allowed us all to recharge our batteries to finish these remaining tasks,” sai... read more

 Merco Press5 days ago
YPF will relocate investment from natural gas to crude oil, because of changes in subsidies policy

Argentina's state-run oil company YPF is "disappointed" by cuts to the government's natural gas production subsidies and will re-allocate investment toward crude oil production.... read more

 Merco Press7 days ago
Argentina cancels proposed tax on wine included in a fiscal reform

Argentina’s government has decided to ditch a proposed tax on wine after vineyards complained the measure would cripple the industry, the governor of the country’s top wine-making province said.... read more

 Merco Press7 days ago
Argentine inflation forecasted to end at 21% this year and 14.3% in 2018

Argentina's annual core inflation forecast for the end of 2017 rose by 0.7 percentage point (pp) in November to 21%, according to a monthly survey conducted by the Argentine central bank. For 2018, analysts estimated a 14.3% annual inflation, from 14... read more

 Merco Press8 days ago
Argentina will receive five refurbished Super Etendard fighter planes

France has sold five used Super Étendard fighter planes to Argentina, which has an outdated military fleet and is hosting large international events in coming months, the French ambassador in Buenos Aires said.... read more

 Merco Press9 days ago
The Mayor of Buenos Aires met Sadiq Khan to discuss global cities challenges

The Mayor of Buenos Aires Mr. Horacio Rodríguez Larreta met his peer Sadiq Khan in London City Hall on Monday to discuss urban development strategies that both global cities are pursuing.... read more

 Merco Press10 days ago
Argentina central bank raises basic rate to 28,75% to contain inflation expectations

Argentina's central bank raised its policy rate to 28.75% on Tuesday, up from 27.25% previously, as inflation expectations rise, the monetary authority said in a statement. It was the bank's second consecutive hike after a long period of holding the ... read more

 Merco Press10 days ago
Macri optimistic about reaching a Mercosur/EU trade deal by end of the year

Argentine president Mauricio Macri who has made signing trade deals a priority, said he was optimistic that Mercosur, the trade bloc formed by Argentina, Brazil, Paraguay and Uruguay, would be able to conclude a free trade deal with the European Unio... read more

 Merco Press10 days ago
Gendarmerie report says Nisman was beaten and drugged by two attackers who then staged his suicide

A new report summarizing the findings of an Argentina police probe into the mysterious death of Alberto Nisman, who accused Argentina's government of covering up Iranian involvement in the bombing of a Jewish community center in 1994, has determined ... read more

 Merco Press10 days ago
UK praise for Argentina's Human Rights Record

The United Kingdom praised Argentina for the advances in implementing human rights legislation and practice. The UK statement was delivered at the 28th session of the Universal Period Review during the discussion of Argentina's Human Rights Record o... read more

 Merco Press11 days ago
Macri paid tribute to Argentines killed in a New York terrorist attack

Argentina’s President Mauricio Macri paid tribute on Monday to five of his countrymen killed in an attack in New York City. The five Argentines were among eight people killed when a man drove a rented pickup truck down a mile-long stretch of bike pat... read more

 Merco Press11 days ago
Argentina surfaces three Spanish Malvinas documents from 1767

Argentine former vice president and currently Senator of the ruling coalition, Julio Cobos has announced the discovery of three letters dated 1767, revealing an exchange of information between then Buenos Aires city governor, and Felipe Ruiz Puente, ... read more

 Merco Press11 days ago
Boudou, a history of ambition, good life, power and greed

Ex Argentine vice-president under Cristina Fernandez, Amado Boudou, has joined other former ministers, deputy ministers, top officials and Kirchner family associates who are in jail awaiting for trial on multiple corruption charges. The joke in Bue... read more

 Merco Press12 days ago
Argentina and Peru try to sort out ethanol dispute and sign accord to promote overall trade

Argentina and Peru are seeking to resolve a dispute stemming from Peru’s decision to apply anti-dumping tariffs on imports of Argentine biodiesel a year ago, Peruvian President Pedro Pablo Kuczynski said on Friday.... read more

 Merco Press14 days ago
Former Argentine VP Amado Boudou arrested

Following orders from Federal Judge Ariel Lijo, Argentine Coast Guard officers placed Cristina Fernandez de Kirchner's second vice president Amado Boudou under arrest early Friday for illicit enrichment.... read more

 Merco Press15 days ago
EU support: Argentina sells 30-year Euro bond, first time in history

Argentina finalized its foreign bond sale plan for 2017 on Thursday, selling 2.75 billion Euros in three bonds in an offering that was more than four times oversubscribed, the Finance Ministry said in a statement.... read more

 Merco Press15 days ago
Macri's ambitious infrastructure investment plan begins with 7.700kms of roads

Argentina hopes to attract US$26.5 billion in infrastructure investments through 2022 in the form of public-public private partnerships (PPPs), government officials told a gathering of construction and finance executives this week.... read more

 Merco Press15 days ago
Some thoughts about Falklands and flying the Union Jack

By John Fowler - It’s no good if the Falkland Islanders just keep on saying that they don’t want to be Argentine; you can’t define yourself in terms of a negative, you must decide what or who you want to be and proclaim it positively.”... read more

 Merco Press17 days ago
"Macri is the New Left; PC no longer means Communist Party, it means Personal Computer"

Argentina's ruling coalition "Let's Change" sweeping victory in last Sunday's midterm elections, which had a special chapter in the province of Buenos Aires, was "one of the toughest" ever, and defeated ex president Cristina Fernandez performance was... read more

 Merco Press17 days ago
Tierra del Fuego project in Falklands programmed for failure

A project investigating the potential for trade between the Falklands and Argentina appears to have involved a dearth of research.... read more

 Merco Press17 days ago
Cristina Fernandez testifies in alleged cover up of deadliest terrorist attack in Argentine history

Ex Argentine president Cristina Fernandez de Kirchner has denied in court that she covered up for Iranians accused of involvement in the 1994 bombing of a Jewish community center in Buenos Aires in which 85 people were killed.... read more

 Merco Press17 days ago
Argentina formally protests Rapier missile exercise in the Falklands

Argentina presented on Thursday a formal protest to the United Kingdom embassy in Buenos Aires rejecting the military exercises with Rapier missiles in the Falkland Islands, scheduled to take place next week.... read more

 Merco Press17 days ago
Macri will present his government's plan for the next two years, supported on governance accords

A week after his coalition's sweeping victory in the midterm elections, Argentine president Mauricio Macri will present this Monday the economic and institutional reforms which are to the core of reaching "governance basic accords".... read more

 Merco Press17 days ago
Macri vows reforms to lower taxes and achieve fiscal balance

Argentina's President Mauricio Macri vowed to press ahead with reforms to the country's tax, labor and retirement systems in a speech on Monday, a week after his "Let's Change" coalition swept to victory at the polls in midterm elections.... read more

 Merco Press17 days ago
Argentina's top prosecutor resigns, under pressure of corruption charges

Argentina’s top prosecutor quit on Monday under pressure from the government over accusations that she hampered corruption investigations into officials from the previous administration of President Cristina Fernandez.... read more

 Merco Press17 days ago
Terrorist attack in Manhattan kills five Argentine tourists

Five of those killed after a terrorist plowed a truck through a Manhattan bike path in New York were Argentine high school pals celebrating three decades of friendship. The Argentine government identified the slain victims as Hernán Mendoza, Diego An... read more

 Merco Press17 days ago
Argentina unveils plan to slash corporate income taxes to promote investment

Argentina plans to cut corporate income taxes to 25% by 2021 for companies that reinvest profits, it said on Tuesday, part of a wide-reaching tax reform bill intended to accelerate investment in Latin America's no.3 economy. The bill, which would sla... read more

 Merco Press17 days ago
"Hard to visualize a scenario" with Macri not running for reelection in 2019

Argentine President Mauricio Macri is almost certain to run for re-election in 2019, his top campaign adviser said, even as he acknowledged that the leader's market-friendly reforms were unpopular among many poor Argentines.... read more

 Merco Press46 days ago
Macri's candidate leading in the crucial Buenos Aires province October midterm election

Eleven public opinion polls done during the last four weeks, coincide that in the most important electoral circuit in Argentina, (40% of votes), for the coming midterm October elections, the candidate of the ruling coalition, "Let's Change", former E... read more

 Merco Press46 days ago
Argentina receives first four of twelve T-6C Texan II training aircraft

The Argentine minister of defense Oscar Aguad headed the welcome ceremony for the first four of twelve last generation Beechcraft T-6C Texan II purchased by Argentina for the training of its military pilots, and which on Monday arrived at the Militar... read more

 Merco Press46 days ago
Falklands' lawmaker: don’t leave dispute with Argentina to future generations

"We should not simply leave the Falklands dispute with Argentina for future generations to deal with", was the message from outgoing Falklands Member of Legislative Assembly Mike Summers, in his final Speech to the Motion for Adjournment.... read more

 Merco Press50 days ago
Argentine economy picked up speed in July expanding 4.9% from a year earlier

Argentina's economic recovery picked up speed in July, expanding 4.9% from a year earlier as President Mauricio Macri's pro-growth policies appeared gain traction. July's year-over-year expansion is the highest posted by Argentina in more than two ye... read more

 Merco Press49 days ago
Macri's Senate candidate leads poll in Buenos Aires province

With less than a month to Argentina's midterm elections, the government's Senate candidate in the province of Buenos Aires, Esteban Bullrich has a 39.6% vote intention, three percentage points ahead of ex president Cristina Fernandez de Kirchner, acc... read more

 Merco Press51 days ago
Argentina's GDP expands 2,7% in second quarter over a year ago

Argentina’s gross domestic product grew 2.7% in the second quarter versus the same period last year and expanded by 0.7% versus the first three months of 2017, the government’s Indec statistics agency said.... read more

 Merco Press53 days ago
IAATO and Argentina step up collaborative efforts to promote responsible tourism

Improvements to Ushuaia Port services and future collaboration between the Antarctic cruise industry and the Argentine government were discussed last week at a meeting organized by the International Association of Antarctica Tour Operators (IAATO) an... read more

 Merco Press53 days ago
Argentina to suspend fuels price-setting system in October

The government of Argentina is planning to suspend a price-setting system for domestic fuel sales next month thanks to the recent rise in global oil prices, the country’s energy and mining minister said Monday.... read more

 Merco Press53 days ago
Ushuaia expects some 300 calls this 2017/18 cruise season; 42 vessels will be touring Antarctica

Ushuaia, capital of Argentine Tierra del Fuego is expecting some 300 calls this 2017/18 cruise season, involving 42 vessels, 31 of which will be travelling on to Antarctica, according to InFueTur, the Tierra del Fuego tourism office.... read more

 Merco Press54 days ago
Argentine prosecutor Nisman death, a homicide, according to toxicology report

A new toxicology report on the body of Alberto Nisman, the late Argentine prosecutor, found that ketamine and clonazepam were in his blood at the time his death, Argentine federal criminal prosecutor Ricardo Saenz announced this week.... read more

 Merco Press57 days ago
Secretary of State for Scotland on a three/day visit to Argentina

The Secretary of State for Scotland, David Mundell, will start an official visit to Argentina during which he will hold meetings with national authorities, private sector representatives, and members of the civil society. The purpose of his trip to S... read more

 Merco Press58 days ago
Argentina claims at UN its Falklands/Malvinas "legitimate and imprescriptible" sovereignty rights

Argentine vice-president Gabriela Michetti ratified before the United Nations General Assembly her country's "legitimate and imprescriptible" sovereignty rights over the disputed Falkland/Malvinas Islands and made a new call on the United Kingdom to ... read more

 Merco Press58 days ago
Maria Eugenia Vidal leads campaign in Buenos Aires province against Cristina Fernandez

Argentine President Mauricio Macri's has picked Buenos Aires province governor Maria Eugenia Vidal to lead the campaign against a comeback by populist ex president Cristina Fernandez in October's legislative elections.... read more

 Merco Press59 days ago
Argentina 2018 budget bill forecasts growth of 3.5% and 15.7% inflation

Argentina’s 2018 budget bill forecasts economic growth of 3.5% next year and average annual inflation of 15.7%, Treasury Minister Nicolas Dujovne told Congress. The bill proposes a 2018 primary fiscal deficit of 3.2% of gross domestic product (GDP) a... read more

 Merco Press59 days ago