(Bloomberg) -- RBC Capital Markets, a unit of Canada’s biggest bank, raised its forecast for Argentina’s economic growth this year to 6.5 percent from 5 percent.
“Strong growth in Argentina’s top-trading partners, high commodity prices and election-related spending are likely to lead to a strong growth rebound in 2010,” the bank said in an e-mailed report.
To contact the editor responsible for this story: Bill Faries at
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http://www.businessweek.com/news/2010-08-04/rbc-raises-argentina-s-2010-economic-growth-forecast-to-6-5-.html
RBC Raises Argentina’s 2010 Economic Growth Forecast to 6.5%
(Bloomberg) -- RBC Capital Markets, a unit of Canada’s biggest bank, raised its forecast for Argentina’s economic growth this year to 6.5 percent from 5 percent.
“Strong growth in Argentina’s top-trading partners, high commodity prices and election-related spending are likely to lead to a strong growth rebound in 2010,” the bank said in an e-mailed report.
To contact the editor responsible for this story: Bill Faries at
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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India and Argentina Monday agreed to step up technical and professional cooperation in the agricultural sector and foster trade in plants and animal products between the two countries. The decision…
PARIS -(Dow Jones)- French utility Suez Environnement SA (SEV.FR) Monday said that the ICSID, the World Bank's independent arbitration body, has confirmed, on July 30, the Republic of Argentina's liability…
(Bloomberg) -- Argentina is drawing on central bank profits to meet financing needs, putting off plans to sell its first international bond since 2001 as yields tumble.The central bank’s board…
BUENOS AIRES (Dow Jones)--Argentina's stock market closed lower Friday while the peso weakened at an unusually quick pace to ARS3.9425 to the U.S. dollar. The Merval stock index fell 0.47%…
Economy Minister Amado Boudou spoke on inflation rumours and warned that "there are no macro-conditions for an inflationary situation to be triggered." Boudou stated that "the government is to carefully…
The construction activity increased 10 percent in the first semester of the current year against the same period in 2009, according to a report released by the Indec national statistics…
National Statistics Bureau (INDEC) reported supermarket sales increased 19 percent in June year-year on year; 2.8 percent against May in non-seasonal terms at constant prices.Supermarket prices meanwhile gained 0.6 percent…
(Bloomberg) -- Argentina’s unemployment rate fell to the lowest in more than a year in the second quarter as economic growth picked up, President Cristina Fernandez de Kirchner said. The…
BUENOS AIRES (Dow Jones)--The Andean Development Corporation, or CAF, has extended $672 million dollars in development loans to Argentina.The loans from the Caracas-based multilateral organization will be used for public…
MADRID (Dow Jones)--Spanish oil firm Repsol YPF SA (REP) Thursday said its net profit, excluding inventory effects, surged 60% in the second quarter, lifted by higher prices at the pump…
(Bloomberg) -- Argentine bonds posted the biggest advance in emerging markets this month after President Cristina Fernandez de Kirchner’s $12.9 billion restructuring sparked a credit-rating upgrade and revived demand for…
BUENOS AIRES (Dow Jones)--The board of Argentina's Central Bank on Thursday approved the transfer to the Treasury of 3 billion pesos (763 million) of income booked in 2009. The transfer…
(Reuters) - Argentina will have a fiscal surplus of at least 1.4 percent of gross domestic product this year, Economy Minister Amado Boudou said on Thursday.Boudou, speaking on local radio,…
Even though domestic economy keeps growing at a good pace, job creation fails to come along with this process. Although official data report the formal employment rate increased by 1.5…
President Cristina Fernández de Kirchner assured at Government House, as she led the public rally for the bidding of funds for subsidized-rate loans for small and medium sized companies (Pymes),…
(Bloomberg) -- Argentina’s central bank is selling debt to companies for the first time in three years in a bid to curb growth in the nation’s money supply.Companies are eligible…
(Bloomberg) -- Argentine government securities linked to the nation’s economic growth have become a “buy” to JPMorgan Chase & Co. and RBC Capital Markets even after a two- month rally…
Argentina has emerged as the latest country to face potential setbacks over wheat, with adverse weather threatening its recovery from a century-low in plantings."A new concern is bubbling up in…
KUWAIT: His Highness the Prime Minister of Kuwait Sheikh Nasser Al-Mohammed Al-Sabah's forthcoming visit to Argentina is expected to be marked by a number of joint agreements in several fields,…
INDEC national statistics bureau reported that the trade surplus totalled 1.291 billion dollars in June, plummeted 19 percent compared to the same month in 2009.It reached 7.491 billion dollars in…
For the past four years, the ranchers who parade perfectly primped bulls at La Rural- an annual agricultural show as old as Argentina’s war of independence - have lamented how…
Chinese companies are to undertake route upgrades and supply rolling stock under a series of major contracts signed in Beijing on July 13th during the first state visit by President…
July 22 (Bloomberg) -- Argentine dollar bond yields relative to Venezuela’s are rising, narrowing the gap from the widest in a decade, as investors bet President Cristina Fernandez de Kirchner…
BUENOS AIRES (Dow Jones)--Argentine bonds and stocks posted solid gains Thursday, buoyed by a rally on Wall Street and speculation that the government may be close to selling new debt…
July 22 (Bloomberg) -- Argentina closed probes and set anti-dumping levies on some Chinese products one week after the presidents of the two countries failed to end an embargo by…
Argentina's primary budgetary surplus gained 198.4 percent year-on-year in June to 2.7 billion pesos, according to Economy Ministry.During the first semester of the year, the primary surplus accumulated an increase…
The number of tourists that arrived in Argentina during June reached 199,993 and increased 30 percent compared to the volume reported during the same month last year, according to an…
Argentina's electric power generation currently employs uranium-based nuclear power generation for 6.8 percent of its capacity; however, the government expects that to rise to 21.1 percent by 2025. The goal…
BUENOS AIRES (miningweekly.com) – Mining companies in Argentina have expressed disappointment after the country's Chamber of Deputies last week voted in favour of a law to protect mountain glaciers and…
BUENOS AIRES (Dow Jones)--Argentina Economy Minister Amado Boudou on Monday said the government doesn't have any plans to revise the country's capital controls. Local press had reported on Monday that…
The Association of Argentine Car Dealers (ACARA) reported the number of new cars sold through financing reached 19,173 units in June, which represents a 43 percent increase compared with the…
(Bloomberg) -- Argentine industrial users such as Dow Chemical Co. are suffering gas shortages amid a record cold winter in the Latin American country where temperatures fell below those in…
(Bloomberg) -- Argentine President Cristina Fernandez de Kirchner will announce plans later this month to ease capital controls, newspaper Ambito Financiero reported, without saying where it obtained the information. The…
Minutes after arriving from an official trip to China, Foreign Minister Héctor Timerman said President Cristina Fernández de Kirchner's visit went "very well" and assured that the recent accords would…
Following the purchase of US$100 million, the Argentine Central Bank foreign currency reserves reached US$50.604 billion, US$87 million up compared to the previous record in May 28. However, it will…
Economic activity grew 12.4 percent during May in relation to the same month of last year, which marked the greatest inter-annual increase since March of 2004, the Indec national statistics…
BUENOS AIRES (Dow Jones)--Argentines' expectations for future inflation were unchanged in July from the previous month, according to a closely watched survey of consumers. Torcuato Di Tella University said Wednesday…
(Bloomberg) -- Argentina’s economy will grow “at least” 6 percent this year, Economy Minister Amado Boudou said in Buenos Aires.South America’s second-biggest economy will have a trade surplus of between…
(Bloomberg) -- The biggest drop in Argentine borrowing costs in nine months is paving the way for President Cristina Fernandez de Kirchner to sell international bonds for the first time…
BEIJING, July 14 (Xinhua) -- Top Chinese leaders expressed a desire to advance the strategic partnership between China and Argentina in meetings with visiting Argentine President Cristina Fernandez de Kirchner…
Buenos Aires (Platts)--13Jul2010/553 pm EDT/2153 GMT As Argentina suffers its tightest natural gas shortages this year as acold spell jacks up heating demand, the federal gas agency said Tuesday thatcuts…
The Gas Authority (ENARGAS) assured that supply of natural gas to residential areas and liquefied natural gas (GNC) to gas stations is "guaranteed" despite the extremely low temperatures hitting the…
The industrial output increased 14.3 percent in May compared to the same month last year, according to a report provided by the Argentine Industrial Union (UIA). Meanwhile, the industrial output…
Since the new gas pipeline under the Strait of Magellan started operating at the beginning of July, the gas transport capacity has reached 136 million cubic metres per day. However,…
In her second day of official activities with her Chinese counterpart Hu Jintao, President Cristina Fernández de Kirchner signed a series of bilateral agreements and will later be honoured in…
BEIJING—Argentina said it secured an agreement with China for the Asian giant to invest $10 billion in the South American country's railways sector, China's latest move to extend its influence…
Fitch has upgraded Argentina’s long-term foreign currency IDR to ‘B’ from ‘RD’ with a Stable Outlook. Fitch also upgraded the long-term local currency IDR to ‘B’ from ‘B-‘. The upgrade…
Within the framework of her institutional trip to China, President Cristina Fernández de Kirchner gave a conference on several issues. She highlighted that Argentina is seeking to attend the next…
July 8 (Bloomberg) -- Argentine manufacturer Mirgor SACIFIA has agreed to assemble Nokia Oyj mobile phones at a factory in the South American nation’s southernmost province of Tierra del Fuego.…
President Cristina Fernández de Kirchner arrived in Beijing where she was welcomed by the Argentine Ambassador to China, César Mayoral, and China's national ceremonial director.The president Landed on the Tango…
(Bloomberg) -- Soybean imports by China, the biggest buyer, jumped to a record in June after a halt to Argentine soy oil shipments and increasing feed consumption boosted demand from…
BUENOS AIRES (Dow Jones)--Argentina's stock market ended higher Thursday but the real action took place in the foreign-exchange market, where the central bank bought a record $262 million worth of…
International reserves once again exceeded the US$50 billion mark, boosted by an intervention to the Central Bank by the market in a record purchase of US$262 million.The monetary entity detailed…
Economy Minister Amado Boudou announced a 20 percent increase of the income tax floors. The public announcement was made along with the head of the AFIP revenue office head Ricardo…
BUENOS AIRES (Dow Jones)--Argentina has filed criminal charges against several local companies and JP Morgan Chase & Co. alleging the defrauding of local pension funds through the manipulation of share…
The debt payment capacity index (ICPA) elaborated by the Centro de Estudios de la Nueva Economía (CENE) of the Universidad of Belgrano rose 14 percent in May from March. It…
BUENOS AIRES (Dow Jones)--Argentina's Grupo Supervielle on Wednesday said it has agreed to buy the local operations of GE Money, including the consumer credit services for Wal-Mart Argentina, for an…
Banks' clerks lifted all roadblocks and protests set in the streets of downtown after calling on strike and interrupting all customer care services as part of the protests and claims…
President Cristina Fernández de Kirchner is set to sign bilateral trade agreements totalling US$10 billion with China within the framework of her official visit to the Asian country scheduled for…
BUENOS AIRES (Dow Jones)--Argentina's government says it has no plans to sell the stakes in local companies that it inherited when it nationalized private-sector pension funds in late 2008, as…
The participation rates for the debt swap programme launched by the Argentine government was registered at 70.2 percent, more than the original 66.4 percent originally announced. The Economy Ministry confirmed…
Delays and cancellations are hampering passengers this morning who are trying to arrive or depart from Mendoza as employee members of the union APA (Asociación Personal Aeronáutico) launched a surprise…
Automotive production rates in Argentina increased 46.6 percent year-on-year in June to 65,256 units, according to the ADEFA Argentina car-makers' association. The rates are promoting the domestic economy.The national fabrication…
The labor demand index elaborated by the Center for Financial Research (CIF) at the Torcuato Di Tella University declined 1 percent in June from the previous month, hit 58.9 points.…
Aerolíneas Argentinas plans to make non-stop flights availbale from Mendoza to Bariloche, Salta, and Iguazú where previously one had to first connect through Buenos Aires. Flights to will be twice…
Ex Argentine President and current UNASUR Secretary General Néstor Kirchner will meet with Chilean President Sebastián Piñera this week, along with political and parliamentary leaders from that country. Kirchner will…
Tax revenue grew 39.4 percent in June compared to the same month of last year, reaching a total of $39.8 billion, according to the AFIP revenue office.June's data was made…
Employees belonging to the national labor union “La Bancaria” are pointing out undelivered promises such as salary agreements and unresolved income tax deductions on paychecks, and are set to strike…
BUENOS AIRES (Dow Jones)--German auto manufacturer Volkswagen AG (VLKAY, VOW.XE) will invest $155 million in its Argentine operations to increase local gear box production by 27%, the company said in…
BUENOS AIRES (Dow Jones)--Argentine officials Wednesday will inaugurate a key new pipeline bringing natural gas from the southern Tierra del Fuego Province to the neighboring province of Santa Cruz. The…
Construction activity grew 12.7 percent during May in comparison to the same month of 2009, the Indec (Instituto Nacional de Estadística y Censos ) national statistics bureau informed.Also, during the…
Supermarket sales increased 16.3 percent year-on in May and 2.3 percent in relation to April, the Indec (Instituto Nacional de Estadística y Censos) national statistics bureau announced.According to the Supermarket…
The federal government ordered the issue of two Treasury notes worth a total of US$1.223 billion, according to resolution 18/2010 published today in the Official Gazette.Placement was made with direct…
If you are traveling across Argentina this Thursday, plan accordingly. There is a 24 hour strike in the works planned to start Thursday, over back pay that the Unión Tranviarios…
What are Economy Minister Amado Boudou's plans after the debt-swap?His scope of action is restricted to the ministry's two main departments: Treasury and Finance. Boudou's most significant effort is centered…
President Cristina Fernández de Kirchner announced the creation of the Argentine Tourism Ministry at Government House, saying that since 2003 "tourism statistics have been incredible and the amount of dollars…
BUENOS AIRES (Dow Jones)--Argentine stocks edged lower Monday in line with Wall Street, while bonds got a boost from post-swap optimism and signs of continued strong economic growth.Bond buying was…
BUENOS AIRES (Dow Jones)--Argentina's financial bourse is looking to capitalize on government attempts to restore access to international capital markets with a proposal to ease capital controls to bring back…
After the European Commission spokesperson John Clancy formally addressed Argentine authorities and requested Buenos Aires to "stop blocking European import immediately," Industry Minister Débora Giorgi tackled the so-talked-about controversy and…
BUENOS AIRES (Dow Jones)--Argentina's shopping center sales in May continued to post strong growth on the back of high clothing, footwear and electronics sales, the national statistics agency Indec reported…
Argentina President Cristina Fernández de Kirchner delebrated that the fiscal adjustments were not "legitimized" as a solution to the economic crisis at the G-20 meeting in Toronto, Canada, according to…
(Reuters) - Argentina has reached an agreement with China to end the Asian nation's freeze on Argentine soyoil imports, the government said on Friday, but some traders were skeptical that…
A rise in the income tax threshold is reportedly on the cards next week, which would affect a considerable number of employees. Discussions are rumbling on once again with regards…
The Lower House issued a majority opinion, without dissent, on the bill that contemplates sanctions for companies that operate in Argentina and that wish to participate in the Malvinas Islands…
June 25 (Bloomberg) -- Argentine warrants linked to gross domestic product climbed to a one-week high on bets that growth in South America’s second-biggest economy will trigger payments. The dollar-denominated…
BUENOS AIRES (Dow Jones)--Argentina is expected to report continued strong economic growth in April as bumper crops, strong consumer spending and high government expenditures fuel a rebound from last year's…
Lawmakers have sent a bill to congress that imposes fines for companies that use processes to hire employees that include inquiries or requirements related to age, sex, and other social…
Economy Minister Amadour Boudou and Brazilian counterpart Guido Mantega announced the creation of an investment fund aimed at financing Argentine companies, amid the framework of a series of meetings held…
According to a resolution released by the Board of Directors of the Central Bank, local banks are to reimburse all the banking fees charged since May 6.This measure is enforceable…
The Federation of Telephone Workers and Employees started the strike at midnight last night, citing “unproductive negotiations”, according to the secretary of the federation Silvia Hidalgo.The group is seeking a…
BUENOS AIRES (Dow Jones)--Total investment in Argentina showed further improvements in May, led by investments in machinery and equipment, research firm Orlando J. Ferreres & Asociados said Wednesday. "Investment levels…
The Institute for Transportation and Development Policy (IDTP), with headquarters in New York and Hamburg and a field office in Buenos Aires, has an exhibition starting today at the Center…
In a press conference, Economy Minister Amado Boudou announced the debt-swap acceptance rate has reached 66 percent. Investors have entered 12.067 billion dollars in defaulted Argentine bonds, representing an overall…
President Cristina Fernández de Kirchner swore in Foreign Minister Héctor Timerman yesterday whose critics claim is trying to pressure a former ambassador in an attempt to cover up alleged bribes…
The latest available information on the debt-swap reported a higher acceptance rate reached at last-minute: investors have entered US$ 12.5 billion in defaulted Argentine bonds, representing a participation rate of…
(Bloomberg) -- Argentine bonds declined for the first time in 10 days ahead of today’s deadline on the country’s offer to restructure $18.3 billion in defaulted bonds held out of…
(Bloomberg) -- Argentina’s 250,000 truck drivers will receive an average wage increase of 24 percent in an agreement to be signed today, El Cronista said, without saying where it obtained…
The International Monetary Fund mentioned the measures used by developing economies to ease the impact of the financial crisis worldwide on production and employment levels.According to the organization's press release,…
Used cars sales increased by 14.29 percent last month, adding up to a total 17.32 percent jump so far this year when compared to 2009, which will cause a price…
A report released by IAEF Argentine Finance Executives Institute think tank concluded that a further euro depreciation would give Germany an extraordinary competititveness and a savings capacity, involving a premature…
(Reuters) - The large oil spill in the Gulf of Mexico will put substantial pressure on the industry to halt offshore deepwater drilling as long as the cause of the…
(Bloomberg) -- Argentina is accelerating permits for food imports from Brazil after companies said they would conduct trade in local currencies instead of U.S. dollars, said Diego Perez Santisteban, head…
The primary fiscal surplus in Argentina soared 229.4 percent to 3.02 billion pesos in May year-on-year, according to the figures provided by Economy Minister Amado Boudou. The volume reported is…
Industrial output in Argentina grew 10.2 percent in May compared to the same month last year, INDEC statistics bureau reported. The government's monthly EMI industrial activity index rose 0.2 percent…
The rates of informal employment dropped to 34.6 percent in the first trimester of 2010, a loss of 1.8 percentage points compared to the same period in 2009, according to…
The Centre for the Economic Studies led by Orlando J. Ferreres & Asociados reported Argentina's economy increased 9.7 percent during May year-on-year. During the first five months of the year…
June 16 (Bloomberg) -- Argentine labor leaders are demanding the biggest wage increases in more than 15 years to compensate for inflation they say is running at more than three…
June 15 (Bloomberg) -- Argentina will likely move to lift capital controls following the conclusion of the country’s $18.3 billion debt swap, the head of the Buenos Aires Stock Exchange…
Uruguay's public and private sectors are discussing the possibility of building a new US$300mn bridge to connect the country's highway and rail networks to neighboring Argentina, an official from the…
Crude steel production grew 63.1 percent in May year-on and 2.5 percent with regards to April, according to the Steel Industrial Centre (CIS)."Crude steel production in May 2010 reached 438,400…
BUENOS AIRES (Dow Jones)--Andes Energia PLC (AEN.LN), an Argentine-based energy group, expects its shares to start trading on the Buenos Aires Stock Exchange this week, the company's chief executive said…
The increase in the cost of living was 0.8 percent in May, according to the INDEC National Statistics Bureau. The cost of living climbed 5.1 percent in the first months…
Finance Secretary Hernán Lorenzino and the area's Sub-secretary Adrián Cosentino will be in Japan and Italy tomorrow in order to promote the debt-swap among bondholders in those two countries. Afterwards,…
Plane tickets on domestic flights to all 30 destinations in Argentina went up by an average of 15 percent from midnight last night, according to Resolution 118 of yesterday’s Official…
China is studying plans to install a satellite dish in Argentina for Beijing's space program, a local official said Wednesday."China sent a delegation to Argentina to study the possibility of…
Today exchange house were quoting 3.94 (sell) for the US Dollar, which is one penny shy of the 3.95 indicated in the Argentina’s 2010 budgetThe peso devalued against the US…
Argentine central bank reserves increased to U$S 49,082,000,000 dollars by the end of May, after increasing by 1,024,000,000 just in May, despite international financial volatility and the European debt crisis.In…
Video of the moment:
Hang with these bikers, with the music of “Rush” as they make their way from Brazil to Chile, cutting right through Mendoza
Interview Simon Dean, Drip Couture "Simon Dean is one such expat who is discovering the benefits of working for international companies while using local talent and basing himself in the rather agreeable city of Mendoza"
Mendoza start up awarded USD 40,000 to expand to Chile "As the first rent payment system of its type in South America, PagaTu Alquiler is seeing doors open across the continent even though people have been slow to embrace it here" Mining Argentina - Interview with a Geologist "Mining is a hot topic in Argentina. Amanda Barnes interviews geologist Bruce Smith to learn just what all the fuss is about" Family on bicycles, arrival Mendoza from Alaska "Young family from Idaho have pedaled their way through 15 countries and well over 20,000 miles" Bodega Salentein: A Work of Art "The restaurant is one wing of the visitor’s centre, Killka, which is an unusual Bormida & Yanzon-designed glass and concrete structure of cubes which opens up into an interesting interplay of light, space and sky on the inside." Bodega Atamisque: the finer things in life "Drinking a lovely buttery and honey Chardonnay we started on the fresh and light trout ceviche and a dense, rich terraine with red pesto as starters.." Tupungato league: Finca Sophenia and Jean Bousquet "The Uco Valley has relatively little disease. This natural blessing is fiercely protected within the zone – no fresh produce can be brought in from outside the valley.." Mendoza's underground green scene "Mendoza’s conscientious younger generations are moving towards an altogether different trend: vegetarianism and animal rights." Sommelier School: Educating the senses (graduation) "After learning the principles of tasting a wine we moved onto the practical part and fortunately with plenty of the good stuff from Mendoza’s younger generations" Cooking and Wine - Familia Zuccardi "It was fascinating to learn about the history of these wood-burning cement pods and see how the restaurant embraces a real range of cooking techniques" Italian food in Mendoza "And, how does Maria Teresa make her renowned pasta you ask? “You take flour, eggs and a pinch of salt and knead it as if you are conducting music" O. Fournier: A Winery Blending Cutting-Edge Architecture, Fine Wines and Gourmet Food "O Fournier is probably one of the most architecturally famous, and strangest looking, bodegas in the world."
"Terra Energy & Resource Technologies, Inc., a technology provider for exploration of natural resources, has received a services contract from YPF for oil and gas exploration of a license area in the province of Mendoza, Argentina" Malbec World Day - April 17th "Wines of Argentina, the organization responsible for promoting the image of Argentine wines around the world, decided to establish April 17 as Malbec World Day to honor the country’s emblematic variety" Liz Caskey Culinary & Wine Experiences Announce The Age of Argentina Tour to Explore Vibrant Buenos Aires and Mendoza in August 2011 "Other highlights include the meals and cultural excursions..private tango lessons..visit a variety of vineyards and wineries.." See more press releases...
Terroir work should be improved "Pedro Parra is an authority on terroirs. This year, Decanter magazine regarded him as one of the 50 most influential figures in the wine world"
(Bloomberg) -- RBC Capital Markets, a unit of Canada’s biggest bank, raised its forecast for Argentina’s economic growth this year to 6.5 percent from 5 percent.
