Argentines have so far declared US$21.9 billion in previously hidden assets in the country's tax amnesty program meant to help jump-start the economy, Alberto Abad, director of the AFIP tax collection agency, said on Tuesday. That included US$7.2 billion in cash deposits, Abad said.
Brazil's Central Bank (BC) President Ilan Goldfajn said on Monday that the outcome of the US presidential election, won by magnate Donald Trump, brought an element of uncertainty to markets, but reiterated that the institution has kept a close watch on the development of international markets and worked to prevent the effects of external shocks from threatening macroeconomic stability.
Argentina and Japan agreed on Monday to speed up negotiations for a bilateral investment accord as part of efforts to strengthen economic ties between strategic partners. Prime Minister Shinzo Abe and Argentina President Mauricio Macri also agreed to launch talks for a tax pact for increased economic exchanges between the two countries, according to a joint statement issued after their meeting in Buenos Aires.
Japanese Prime Minister Shinzo Abe will make an official visit to Argentina this Monday hoping to boost investment in the Latin American nation, officials said. It is the first visit to Argentina by a Japanese prime minister in 57 years—the last was by Abe’s grandfather Nobusuke Kishi in 1959.
Even admitting that the Argentine economy will expand 3% next year, nobody wants to invest in the country because they are not sure that populism won't be back in a couple of years, according to economist and former central bank chair Javier Gonzalez Fraga.
The increased use of robots threatens millions of jobs in developing countries, by undermining the advantage of low wages and facilitating the reshoring of industries back to industrialized countries, according to a new policy brief from UNCTAD.
Uruguay plans to improve the rural roads network of the 18 department governments with support from two credit lines for an investment project totalling US$600 million with two initial loans completing US$150 million from the Inter-American Development Bank (IDB). The funds will support the implementation of rural roads construction in agriculture production areas, and will also be geared to improve and strengthen fiscal management and services at the departmental government level.
With a budget of 100 million dollars, construction of the 35-story building may start in June next year and be finished by 2020, it was announced by the same developers in charge of the residential project in Punta del Este under the name of next President of the United States.
Argentine president Mauricio Macri and Canadian Prime Minister Justin Trudeau took direct aim on Thursday at the walls of protectionism set to be erected around the United States, saying that freer trade is the best way to pull their countries out of economic uncertainty. The two leaders said there is real anxiety that progress and global trade have resulted in people being left behind or children being robbed of the same opportunities afforded their parents and grandparents.
iPhones might soon be made in the U.S., a result of Donald Trump’s win on Election Day, according to Nikkei Asian Review report. Hon Hai Precision Industry, also known as Foxconn Technology Group, a main Apple assembler, has allegedly been looking into the possibility of making iPhones in the United States, sources revealed to Nikkei.