Minimum wage to rise 27% by June
Minimum wage increases approved by the Minimum Vital and Mobile Salary Council last week were published in the Official Bulletin today. Paid in three monthly increases, the minimum salary will rise by 26.6% by June 1 compared with current levels, but economists say it is falling far behind Argentina’s racing inflation, which hit 102.5% in February. On April 1, the minimum wage will rise to AR$80,342 (US$386.59 at the official exchange rate or US$213.45 at the MEP rate) and AR$401.71 per hour for day laborers. He added that the minimum wage had shrunk in proportion to the basic basket of goods compared with 2015. The payments for social programs such as Potenciar Trabajo are a percentage of the minimum wage, so increasing the minimum wage leads to increased state spending.
Source:Bueno Aires Herald
March 29, 2023 03:43 UTC
Netflix announces upcoming Argentine series and films
According to the study, more than two-thirds of spending for films or series made in Argentina are reinvested in other sectors, such as hotel accommodation and transport. Netflix also emphasized that every AR$ 10 million invested directly in the audiovisual result in an additional 19 million. “Telling local stories is very important for Netflix, and few countries have an audiovisual industry like Argentina,” said Ramos. As for films, Netflix will co-produce Descansar en paz with Ricardo Darin’s production company, Kenya Films. Also coming to the platform are most of the Argentine filmmaker Pablo Trapero’s films as remastered versions, including El Bonaerense, White Elephant, Carancho, Lion’s Den, Born and Bred, Rolling Family, and Crane World.
Source:Bueno Aires Herald
March 29, 2023 03:40 UTC
Opposition to file writ against public sector debt swap
Patricia Bullrich, head of right-wing opposition party PRO, has instructed PRO deputies to file a protective action against the decrees requiring public sector bondholders to shed debt in dollars and switch it to pesos. The writ describes the debt swap as “objectively and factually ruinous”, calling it “new borrowing disguised as a swap” on the grounds that the decrees establishing the swap do not specify whether the foreign law bonds that enter the treasury will be reabsorbed. On that basis, the writ argues that under Argentine law debt cannot be issued by decree and requires the prior approval of congress. The blue-chip swap rate, also known as contado con liqui or CCL, is used in the financial world as a way to get dollars. According to the writ, the debt swap puts state pensions at risk by failing to safeguard the funding of the Sustainability Guarantee Fund (FGS), a sovereign investment fund that is part of Argentina’s social security system.
Source:Bueno Aires Herald
March 28, 2023 09:47 UTC
Macri announces he will not run for president
With just 90 days before the deadline to confirm his candidacy, former president Mauricio Macri announced that he will not run for president in a 5-minute video this morning. In his video, he also praised his 2015-2019 administration, criticizing President Alberto Fernández’s administration. “’Never again’ will we be represented by a puppet,’ he said in referene to Fernández, who was selected by Vice President Cristina Kirchner to run for president in May 2019. “Never Again” or “Nunca Más” is a motto used by Argentina’s human rights movement calling for the horrors of the last military dictatorship to never be repeated. Macri stepping down from the presidential race without explicitly supporting any of the Juntos por el Cambio presidential candidates specifically, he leaves the game open for them to run against each other in the August primaries.
Source:Bueno Aires Herald
March 27, 2023 03:19 UTC
Blue-chip swap rate hit record 408 pesos: what analysts think
The blue-chip dollar swap rate peaked at a record AR$408 on Friday, its highest nominal value ever, before closing at AR403.57, up by more than 10 pesos (3%) in the last three days of the week. The blue-chip swap rate, also known as contado con liqui or CCL, is used exclusively in the financial world. It is obtained by investors buying shares and financial instruments in pesos and selling them in dollars on the international market. In this context, the report’s authors predict that the Central Bank will have to tighten capital controls “over the next months”. The Central Bank participates in a committee that makes such analyses but does not make its conclusions public.
Source:Bueno Aires Herald
March 18, 2023 22:23 UTC
Brazil looks to regulate monetized content on internet
The Brazilian government is studying whether to regulate Internet platforms with content that earns revenue such as advertising, its secretary for digital policies, Joao Brant, said on Friday. The idea would be for a regulator to hold such platforms, not consumers, accountable for monetized content, Brant told Reuters. Platforms would not be held responsible for content individually, but for how diligent they are in protecting the “digital environment,” he said in an interview. Brant did not detail what the regulatory body would look like, but said the government wants to regulate monetized content and prevent the platforms from spreading misinformation. Meta questioned its responsibility for removing content without a court decision in a case involving a fake Facebook profile.
Source:Bueno Aires Herald
March 18, 2023 21:34 UTC
Google Pixel 7 (Unlocked) Price Drops 16% From $599 to $499; Check Out Deal
AdvertisementThe cost of the Google Pixel 7 has been reduced from $599 to $499. Best Buy has this fantastic deal on the Google Pixel smartphone. Now available on Best Buy for $499 instead of $599, the Google Pixel 6 Pro is now 16% less expensive. With Google Pixel 7 5G, you may continue with your everyday activities, save a variety of files, and capture beautiful moments. Google Pixel 7 SpecificationsThe Corning Gorilla Glass Victus layer covers the 6.3-inch OLED front screen of the Google Pixel 7 5G, which has an 83.4% screen-to-body ratio.
Source:The Bubble
March 18, 2023 19:24 UTC
Argentine ambassador leaves Ecuador amid diplomatic row
Argentine Ambassador to Ecuador Gabriel Fuks has left the country amid a diplomatic furore caused by former Ecuadorian minister María de los Ángeles Duarte fleeing from the Argentine embassy in Quito. She had been living as a guest in the Argentine embassy in Quito since 2020 and was granted diplomatic asylum there in 2022, along with her son, whose father is Argentine. On Monday, she fled to the Argentine embassy in Caracas, Venezuela — Ecuador considers her a fugitive. “And not on one, but multiple occasions.”The Argentine government denies Fuks’ involvement in Duarte’s escape and contends that her surveillance was under the Ecuadorian security force’s jurisdiction. Both countries expelled their ambassadors as a result of the diplomatic row, although bilateral ties have not been cut.
Source:Bueno Aires Herald
March 18, 2023 06:45 UTC
Destitution threshold jumped by 12% in February
The INDEC considers that a family is “destitute” when their monthly income is less than the basic food basket. A family is considered to be in poverty if they earn less than the basic food basket plus services, known as the total basic basket. The INDEC reported that the poverty threshold for February was AR$177,063 – an 8.3% increase compared to January. The year-on-year increase for the basic food basket and the total basic basket were 111.3% and 115.1% respectively. That means that products that were part of the total basic basket and the basic food basket soared more than the general prices of the economy.
Source:Bueno Aires Herald
March 18, 2023 06:45 UTC
Samsung T350 Series 24″ IPS LED Monitor Price Drops 39% From $179 to $109; Check Out Deal Now!
AdvertisementThe price of the Samsung T350 Series 24″ IPS LED Monitor has dropped from $179 to $109. The cost of this Samsung LED Monitor has been discounted by 39% on this website, from $179 to $109. A seamless display with a three-sided borderless display that reaches from edge to edge for immersive viewing and maximum focus. Samsung T350 Series 24″ IPS LED Monitor specificationsMaximum attention with a minimalist design. Tones and shades appear totally accurate from nearly any angle, even on a display this large, with no colour washing.
Source:The Bubble
March 14, 2023 07:42 UTC
TCL 30XL (Unlocked) Price Drops 36% From $199 to $127; Check Out The Offer
The TCL smartphone is available at this low price on Amazon. The TCL 30 XL is an excellent choice if you’re searching for a phone with a smooth display, a great camera profile, and great performance. TCL 30XL SpecificationsThe TCL 30 XL’s bezel-free front screen is 6.82 inches in height and is an IPS LCD. The TCL 30 X has four lenses on the rear. To handle the gaming and graphics requirements, a PowerVR GE8320 and MediaTek Helio A25 chipset are used in the TCL 30 XL.
Source:The Bubble
March 13, 2023 20:15 UTC
Google Pixel 6 Pro 5G (Unlocked) Price Drops With A massive 49% Discount; Check out deal now!
AdvertisementThe Google Pixel 6 Pro 5G price has dropped from $639.00 to $324.00. This amazing offer on the Google Pixel smartphone is available on Amazon. The price of Google Pixel 6 Pro has been now reduced by a massive 49% discount on Amazon, dropping it from $639.00 to $324.00. Google Pixel 6 Pro makes it possible to perform multitasking and longer operations on the go. Google Pixel 6 Pro 5G SpecificationsThe Google Pixel 6 Pro’s 6.7-inch P-OLED bezel-less display includes a punch-hole design.
Source:The Bubble
March 01, 2023 08:50 UTC
Motorola G Stylus (Unlocked) price drops with a massive 40% discount; Check out deal now
AdvertisementThe Moto G Stylus cost has been cut from $299.99 to $179. The Moto G Stylus is one of the few mid-range smartphones with a built-in stylus. Moto G Stylus SpecificationsThe Moto G Stylus has a 6.4-inch (16.26-cm) IPS LCD touchscreen display with a bezel-less resolution of 1080×2300 pixels. The Moto G Stylus phone has three back cameras, the primary of which is a 48MP camera. The Qualcomm Snapdragon 665 chipset powers the Moto G Stylus.
Source:The Bubble
March 01, 2023 07:08 UTC
BCRA to hold interest rate at 75% as inflation reheats, bank sources say
Argentina’s central bank is set to hold its benchmark interest nominal rate steady at 75% this week despite inflation gaining pace once more, but hopes of a potential rate cut early this year are fading as prices heat up, bank sources (BCRA) told Reuters and The Herald. It put the breaks on monetary tightening in October, and has since left the benchmark rate unchanged on hopes that inflation, running near 100% annually, was cooling. Although monthly inflation has ticked up since December, the central bank is not expected to make a new hike. An official central bank source said a rate hike debate was not expected to be “on the agenda” ahead of the board’s weekly meeting on Thursday. A central bank adviser told Reuters on condition of anonymity that the rate was unlikely to be raised or lowered this month.
Source:Bueno Aires Herald
February 16, 2023 01:30 UTC
Crop export revenues could fall 23% after drought
Argentina’s drought-stricken crops could bring in 23% fewer export dollars this season versus a year earlier, the Buenos Aires grains exchange said in a report on Tuesday. For much of the last year, Argentina’s worst drought in sixty years has delayed planting and withered crop outlooks, making life ever harder for farmers in a country where inflation nears 100%. The agriculture sector’s export revenues from the 2022/2023 harvest are expected to fall to $33.39 billion, the exchange said. The grains exchange forecasts 2022/23 soybean and corn production, crops whose harvest begins in April, at 38 million tonnes and 44.5 million tonnes respectively. As recently as September, the exchange had forecast the soybean crop at 48 million tonnes and corn at 50 million tonnes, a sign of the drought’s toll.
Source:Bueno Aires Herald
February 15, 2023 20:25 UTC