Wednesday, December 13, 2017

13
Wednesday, Dec

By DW

Argentina's central bank is cracking down on the banking giant HSBC amid a multi-billion-dollar tax evasion scandal. It has demanded that the British lender's local unit president be replaced within 24 hours

In addition to charges of aiding tax evaders, the central bank in Buenos Aires also accused HSBC Argentina president Gabriel Martino of not doing enough to "mitigate and adequately address the prevention of money laundering and the financing of terrorist activities."

The financial overseer said that because HSBC had not established the... (Read More)

By Los Andes

El derrumbe de las ventas del mercado automotor en 2015 evidencia el complicado escenario que se formó con el combo de devaluación, restricción a las importaciones e impuesto a los autos de alta gama. Sin embargo, dentro del contexto desfavorable, apareció una posición ventajosa que le da un respiro a los vehículos de alta gama.

Así como la suba del dólar a principios de 2014 condenó los patentamientos de autos 0 km, el atraso cambiario que existe en la actualidad abarata los precios de los vehículos importados de lujo. Además, la creciente brecha entre dólar oficial y paralelo posibilita una maniobra ilegal pero productiva que puede bajar el valor de un auto hasta en un 66%.

Representantes de algunas de las marcas de alta gama más populares, revelaron que existe una leve reactivación de ese segmento y hablan incluso de una compensación del... (Read More)

By Buenos Aires Herald

Economy Minister Axel Kicillof announced a new National Securities Commission (CNV) regime allowing small and medium-sized companies (PYMEs) to reduce financing costs and gain major access to the financial market.

In a conference press held at the headquarters of the Economy Ministry, Kicillof today introduced the new CNV system “with new requirements and methods for the issuing of... (Read More)

By Bloomberg

Oil at $77? It is in Argentina.

Oil has plummeted below $39 a barrel in the U.S. But despite the price bloodbath in global energy markets, it fetches nearly twice that amount in Argentina -- home to some of the most expensive crude in the world.

Even as prices plunged anew Monday, sending world benchmarks close to the lowest levels they briefly hit in the Great Recession, oil is still flying high in Argentina for the simple reason the government wants it that way.

There is some method behind the apparent madness. Argentina is home to the second-largest reserves of shale gas and fourth-largest of shale oil in the world. Faced with a $6-billion energy trade deficit in 2014, the government has been using its made-in-Argentina price to try to turbocharg... (Read More)

By Los Andes

La falta de una infraestructura logística competitiva que ayude a las empresas a colocar sus productos en el exterior, se hace más notoria en tiempos de vacas flacas.

Es que sin la competitividad que otrora brindaba el tipo de cambio y una inflación contenida, los gastos para poner la mercadería en el puerto son cada vez mayores. Un reciente informe de la Fundación Ideal indica que los costos logísticos de Mendoza equivalen al 14% del valor... (Read More)

By Reuters

When the creators of an elaborate 2013 Cadillac commercial began to scout for shooting locations three years ago, they began in Argentina, where varied landscapes and creative talent had long attracted ad producers.

But when it came time to import the equipment needed for the three-minute spot, they collided head-on with the country's byzantine import regulations. Argentina demanded hefty deposits on all vehicles, cameras, and lights, and producers were unsure... (Read More)

By Bloomberg

The real money is back in Argentina.

Before the country’s default in July 2014 (its second in 13 years), most long-term investors abandoned its bond market. As they rushed out, Argentina became a favorite of the hedge-fund crowd, which made speculative bets on the fortunes of the troubled nation.

But in recent months, that’s started to change.

With presidential elections in October set to usher in a new administration, money managers from Invesco Ltd. to Allianz SE and Van Eck Global have begun to wade back into Argentina’s dollar-denominated bonds.

Those “real-money accounts,” industry speak for long-term investors such as... (Read More)

More Articles ...