Argentina

• Thursday, August 9th 2012 - 06:47 UTC

  For Argentine unions, food basket inflation is 52% higher than the official index

  

  Argentine organized labour CGT, announced that based on their own analysis of the products that make up the basic food basket, on average they are 52% more expensive than those analyzed by the official statistics office, Indec

• Thursday, August 9th 2012 - 01:02 UTC

  Argentina warns US and EU markets on oil exploration activities in the Falklands

  

  Argentina’s National Securities Commission, CNV, officially communicated leading international stock exchanges in the US and Europe that hydrocarbons companies operating in the Argentine continental shelf in the area of the disputed Falklands/Malvinas Islands are involved in “illicit and clandestine” activities.

• Wednesday, August 8th 2012 - 18:58 UTC

  Chaos in Buenos Aires City as subway service strike enters sixth day

  

  Chaos in Buenos Aires City traffic as the 600.000 daily subway commuters were again left on Wednesday with no service for the fifth day running and no prospects of a solution in sight as a mediation effort with striking workers collapsed.

• Wednesday, August 8th 2012 - 07:06 UTC

  Argentina complains involvement of Texas company in Falklands’ oil activities

  

  President Cristina Fernandez government expressed its deep disappointment directly to the State Department following the announcement that the Texan oil company Noble Energy would become involved in hydrocarbons activities in the Falkland Islands.

• Wednesday, August 8th 2012 - 07:00 UTC

  Patagonia province delegation promotes fishery produce sales in Brazil

  

  A delegation from the Argentine Patagonian province of Chubut fishing industry is on a business round of Brazil and the first city to visit was Florianópolis. The group led by Chubut governor Martin Buzzi is also scheduled to visit Sao Paulo and Brasilia.

• Wednesday, August 8th 2012 - 06:37 UTC

  Brazil begins major military exercise to test security along its southern borders

  

  Brazilian Armed Forces began this week a major deployment along the borders of Uruguay, Argentina, Paraguay and Bolivia involving 9.000 troops from the three services with the purpose of testing border security against smugglers mainly of arms and drugs and organized crime, said the Ministry of Defence.

• Tuesday, August 7th 2012 - 20:14 UTC

  Mercosur has only benefited Brazil in the last ten years with a surplus of 36.8bn

  

  Brazil is the only country that in the last ten years has benefited from Mercosur with an intra-zone trade surplus of 36.8 billion dollars while the other three full members, Argentina, Uruguay and Paraguay have accumulated huge deficits in the same period, according to Argentine economist Orlando Ferreres a regular columnist from La Nacion with graduate studies in Harvard.

• Tuesday, August 7th 2012 - 19:17 UTC

  Argentine president declared assets valued in 8.6 million dollars

  

  Argentine President Cristina Fernandez has assets of almost 40 million Argentine Pesos according to her latest income statement before the Anti Corruption office. This includes the 31 million inherited from her late husband Nestor Kirchner who died in October 2010.

• Tuesday, August 7th 2012 - 17:13 UTC

  Argentine supermarkets must keep records of clients that spend plus 210 dollars

  

  Argentine supermarkets must keep records of sales of plus 1.000 Pesos which must be available to tax inspectors, according to the latest decision from AFIP the tax revenue office. A thousand Pesos at the official rate is equivalent to 210 dollars and in the parallel 140 dollars.

• Tuesday, August 7th 2012 - 17:06 UTC

  Argentine foreign currency credit cards included in the strict dollar “clamp”

  

  Credit card companies operating in Argentina have also fallen under the net work of the tax office AFIP, and now must request authorization and approval to purchase US dollars to balance their clients’ accounts.