BUSINESS & INVESTMENT Top CEOs to heap praise on Milei at Patagonia retreat 17-04-2024 13:18 Elsztain will host president at exclusive Bariloche event; IRSA starting construction on biggest project in its history
MILEI MEETS MUSK President Milei meets Elon Musk at Tesla factory in Austin 12-04-2024 14:52 Argentina’s President flies from Miami to Texas for a meeting with SpaceX boss Elon Musk at his Telsa factory in Austin; X owner gives Javier Milei tour of building as photos of encounter go viral online.
AMCHAM SUMMIT Caputo: Argentina 'just starting talks' with IMF over new programme 12-03-2024 20:26 "They always said that they were open to a new programme," economy minister tells business leaders at AmCham 2024 summit.
#8M: Women's Rights Corporate shortfall: Women far from reaching 50% of corporate leadership positions 08-03-2024 06:10 Despite the increased presence of women on boards of directors, the corporate world is still largely run by men.
ECONOMIC INDICATORS Spending plunges at shops with Milei cuts hitting hard 04-03-2024 15:48 Spending at small- and medium-size businesses — Argentina’s largest sector of employment — plunged 25.5 percent in February from a year ago, the third straight month of double-digit losses.
ANALYSING ARGENTINA Are two Caputos one too many for Milei? 02-03-2024 05:25 Foreign observers and investors welcome that Milei is a man on a mission to turn Argentina into a more open, more pro-market economy … but they don’t like conflict as the end itself, nor the Casa Rosada’s unwillingness to compromise. by Marcelo J. Garcia
As I see it Politicians in the dog house 02-03-2024 05:01 Business, especially big business, has long had a bad press in Argentina. This is partly due to the willingness of politicians to blame it for their own failures, as happens whenever inflation gets out of hand. by James Neilson
ECONOMIC INDICATORS Brazil economy grew 2.9% in 2023, says official data 01-03-2024 16:08 Brazil's economy expanded 2.9% in 2023 after a fourth quarter of zero growth, according to data released Friday by the IBGE national statistics agency.
Business Billionaire Claure forges new empire after WeWork collapse 01-03-2024 07:22 Marcelo Claure is shaping his own investment empire after the pandemic dealt the final blow to the company WeWork, as the company kept losing billions
SATELLITE INTERNET Argentina authorises Elon Musk's Starlink, rival Amazon Kuiper 27-02-2024 12:13 President Javier Milei's government grants authorisation to Elon Musk's Starlink and two other competitors as rumours billionaire businessman will visit Buenos Aires ramp up.
Extortion in Peru Pay up, or else: Latin America cowed by lucrative extortion 26-02-2024 13:50 Extortion, a business more lucrative than drug trafficking thanks to its high profits, has become the bane of citizens' existence from Mexico through Central America to Colombia, Ecuador and Peru.
Agriculture Natural pesticides gain ground in 'agri-tox' capital Brazil 19-02-2024 14:14 Agricultural powerhouse Brazil may be the world leader in chemical pesticide use, but there is a growing trend of farmers turning to natural products known as "biopesticides."
ELON CALLING Javier Milei and Elon Musk speak by phone, agree to meet in 2024 06-12-2023 22:01 Argentina’s president-elect speaks with Elon Musk, the owner of X and Tesla, after exchanging messages on social media; US businessman interested in business opportunities related to lithium industry and Starlink.
BUSINESS Globant beefs up creative operations by purchasing ad firm GUT 28-11-2023 11:12 Argentine software firm Globant SA purchased a majority stake in creative agency GUT as it ups its bet on marketing services as a key growth driver.
ECONOMIC OUTLOOK ‘First six months of 2024 are going to be terrible,’ says Argentine business leader 15-11-2023 22:41 Head of Cámara Argentina de Comercio offers ominous forecast for next government’s initial months in office and warns politicians must “do things properly" in what looks to be a “complex” year ahead.
MARKETS Here are the assets to watch ahead of Argentina’s presidential election 20-10-2023 07:41 Investors in Argentine assets are bracing for losses ahead of Sunday’s presidential election, with uncertainty high as voters grapple with triple-digit inflation and economic gloom. Here are key assets to watch ahead of the vote.
Election 2023 preview Inflation raging at 130% is pushing Argentina down a radical path 19-10-2023 20:55 Presidential candidate Javier Milei is winning over voters with promises to revive what was once one of the world’s wealthiest nations.
ELECTION 2023 Juan Nápoli: Javier Milei’s link to big business 12-10-2023 12:49 Banker Juan Nápoli is a senatorial candidate for La Libertad Avanza – he is also libertarian presidential hopeful Javier Milei's liaison with big business. by Giselle Leclercq
ELECTION 2023 Presidential candidates Milei, Bullrich woo CEOs at duelling events 05-10-2023 19:22 Patricia Bullrich and Javier Milei angle for the attention of corporate executives and labour union leaders in Mar del Plata.
'Círculo rojo' Business world recalculates in face of Milei wave 05-10-2023 15:29 One sector is "worried" by the advance of a mood which could affect business institutions. A new ‘grieta’ chasm has opened up between the "prebendarios" (those living off the state) and "autónomos" (self-financing). A youthful sector of the economic elite already backs the libertarian. by Ariel Maciel
TIES WITH CUBA Brazil to send business leaders to Cuba in push to rebuild ties 02-09-2023 10:32 Delegation of at least 30 Brazilian business leaders will travel to Havana on Monday in search of opportunities to boost trade with Cuba, the latest step in Lula's push to repair relations between the two nations.
BUSINESS Brazil’s Itaú sells Argentine unit for US$50 million to Banco Macro 25-08-2023 12:59 Itaú Unibanco Holding SA closes binding agreement for the sale of its Argentine unit to Banco Macro for around US$50 million.
Business Spanish multinational Inditex exits Argentina by franchising Zara 20-07-2023 12:16 Spanish giant Inditex has decided to transfer the management of its brands' operations in Argentina and Uruguay mainly due to import restrictions.
BLOOMBERG Bunge, Chevron buy Argentine seeds business to meet green diesel demand 05-07-2023 15:45 Bunge and Chevron acquire a seeds business in Argentina as they seek improve access to scarce feedstock needed to meet growing renewable diesel demand.
NEW REPORT Report: Public employment up 34% in Argentina since 2011, private only 3% 05-07-2023 12:32 New report by IERAL, business school of the Fundación Mediterránea think tank, shows a massive imbalance between the growth of public and private sector jobs in Argentina. Only province in which private-sector jobs grew faster was Neuquén, thanks to Vaca Muerta. Córdoba recruited the fewest state employees.
BANKING & BUSINESS Banco Itaú in ‘preliminary’ talks to sell Argentine arm to Banco Macro 06-06-2023 12:07 Banco Itaú, one of the largest banks in Latin America, is considering closing its operations in Argentina; Statement confirms “preliminary negotiations” with Argentina’s Banco Macro.
ELECTIONS 2023 Potential presidents catch the eye at AmCham summit 13-05-2023 09:12 Four potential candidates put on their best faces for business community, pitching their plans – and conditions for running. by James Grainger
AMCHAM SUMMIT Relief for business leaders as Massa and Rodríguez Larreta charm AmCham 11-05-2023 19:51 Preferred candidates for 2023 election talk up dialogue and air pro-market visions, with talk of alignment with Washington prompting sigh of relief from US business leaders by Ariel Maciel
Economy minister's plan Massa bets on IMF and sit-down with businesses, unions 02-05-2023 12:37 Argentina’s economy minister is laying down plans to support the peso throughout May. He will ask the IMF to move forward disbursements and seek a coordinated approach with business leaders and trade union leaders to slow inflation as much as possible. by Gonzalo Martínez
BLOOMBERG - ANALYSIS Argentina's parallel currency slides as cracks widen 26-04-2023 15:49 The country will hold elections later this year. Whoever wins will inherit an economic disaster.
FORO LLAO LLAO Election 2023 hopefuls outline economic plans to business leaders 20-04-2023 14:29 Milei, Rodríguez Larreta, Bullrich and Vidal outline their economic plans to the nation’s top business leaders at the Llao Llao Forum in Bariloche – here’s what the leading candidates told the ‘círculo rojo.’
SOARING PRICES Inflation at 140% – industry leaders forecast alarming new ceiling 17-04-2023 15:52 Industry leaders are adjusting their accounts and forecasting a monthly inflation rate of at least six percent per month until the end of the year – provided there is no devaluation. by Ariel Maciel
UNITED NATIONS UN report criticises ‘structural discrimination’ against Argentina's indigenous 23-03-2023 17:43 United Nations Working Group on Business and Human Rights highlights repeated “evictions and violent interventions” in new report. by Api Dhadda
Copper boom? Argentina’s copper rush lures top power generator Central Puerto 07-03-2023 11:11 One of Argentina’s biggest power producers is trying to get in on the nation’s copper boom as the rush for key metals in the global energy transition accelerates.
MARKETS Venezuela’s nine-cent bonds lure a distressed-debt veteran 28-12-2022 14:16 Trader raising money to buy defaulted Venezuelan bonds amid signs of easing tensions between President Nicolás Maduro, the political opposition and the United States.
NEW YEAR APPROACHES World economy faces more pain in 2023 after a gloomy year 27-12-2022 09:56 International Monetary Fund expects the world economy to expand in 2023, with growth of 2.7%. The OECD is forecasting 2.2% growth.
BUSINESS Corporación América Airports emerges from pandemic with sights on Africa 22-12-2022 14:18 After emerging from arguably the worst crisis in the history of the airline industry, one of the world’s largest airport operators is starting to see the benefits of a major shake-up.
FOREIGN POLICY & DIPLOMACY Look north or east? Argentina’s tilt in a bipolar world remains unclear 10-12-2022 04:07 Beijing’s massive economic promise continues to stymie Washington’s attempts at democratic coalition in the Americas. by Sam Forster
LEAKED TELEGRAM MESSAGES President calls for investigation into alleged political-judicial collusion 05-12-2022 22:18 Alberto Fernandez calls for opening of a criminal investigation into alleged collusion between judges, prosecutors and media entrepreneurs after publication of leaked messages showing a conspiracy to cover-up details of a suspicious trip to Lago Escondido.
HEALTHCARE AmCham Health Forum showcases opportunities for public-private collaboration 26-10-2022 14:59 American Chamber of Commerce hosts event bringing together top government officials with private industry leaders to discuss areas of growth and development for Argentina’s healthcare system. by Sam Forster
BRAZIL ELECTION 2022 Brazil's business sector still supports Bolsonaro, but with reservations 27-09-2022 15:12 Elected in 2018 on a promise to reduce state intervention, far-right stayed true to his word with a series of policies favouring business – but support is not unanimous.
Bloomberg Argentina moves to hike key rate by 800bps with local note offer 28-07-2022 16:44 Argentina’s central bank offered its Leliq note, which is used as the benchmark interest rate, at a rate of 60%, representing an 800 basis-point increase and the largest hike in almost three years.
Bloomberg IMF sees Argentina committed to programme, with downside risks 26-07-2022 13:27 Officials re-iterate Argentina’s commitment to IMF $44 billion programme, despite economy in deepening crisis and risks on the downside.
BLOOMBERG - ANALYSIS Price control chief quits in latest sign of infighting 24-05-2022 09:41 Resignation of Domestic Trade Secretary Roberto Feletti is the latest sign of infighting over the government’s economic strategy as annual inflation approaches 60 percent.
AMCHAM SUMMIT 2022 Guzmán tells AmCham that Argentina needs ‘common sense,’ not ‘fairy tales’ 11-05-2022 01:19 Argentina’s economy minister addresses coalition tensions and inflation at AmCham summit; Opposition leaders Horacio Rodríguez Larreta and Patricia Bullrich pitch their visions to business leaders.