Cristina Fernandez De Kirchner News
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Jorge Rafael Videla, Argentina’s former dictator who led the country’s military junta from 1976 to 1981, has died. He was 87.
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Chevron Corp., the second-biggest U.S. oil company, said it’s preparing an investment that will help make the country energy independent by developing what could be the world’s second-largest shale oil reservoir.
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Argentina’s Labor Ministry, steel workers union and companies agreed to a wage rise of 24 percent, an increase in line with economists’ estimates of inflation over the past year.
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President Cristina Fernandez de Kirchner wants tax evaders hiding about $160 billion in dollars to help finance Argentina’s oil-producing ambitions. Her offer: Buy a 4 percent bond or face the prospect of jail time.
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YPF SA, Argentina’s largest oil company that was nationalized more than a year ago, said quarterly profit slid 3 percent on higher costs and increased fuel imports.
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Argentina’s Secretary of Interior Commerce Guillermo Moreno wants to strengthen the black market rate using new dollar securities the government plans to issue locally as part of a tax amnesty plan, according to Alfredo Piano, Chairman of Banco Piano SA.
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The surge in demand for dollars in Argentina that increased the black-market price to a record 10 pesos per dollar is causing banks to ratchet up deposit rates as they try to lure back savers.
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Argentine wheat farmers, who reduced acreage for the past two seasons, may increase sowing areas as the government proposes reimbursing grain export taxes, said analysts from the three largest grain exchanges and the spokesman for Argentina’s largest wheat farming group.
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When Argentina canceled its double- taxation treaty with Spain last year, it had a lot to do with a billionaire named Paolo Rocca, the world’s 105th-richest man.
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Argentina’s Eurnekian family, after becoming billionaires from media and airports, is planning to become the government’s first shale oil and gas partner.
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