More interesting news from around Buenos Aires and the rest of Argentina.
Blackouts Back As Heat Wave Hits Argentina [The Argentine Post]
It’s blackout season again in Argentina. Traffic lights stop working, stores and kiosks have to close their doors and discard spoiled food, and thousands of people have to take the stairs instead of the elevator. By Thursday afternoon, the third day of a heat wave in which temperatures hovered around 100° Fahrenheit (40° C), traffic lights failed to work at 83 intersections in Buenos Aires…
Are Argentina’s Cows Happy Eating Grain? [Wall Street Journal]
Argentina’s fame as a home for happy cows wandering the lush pastures of the Pampas is being challenged as an increasing number of cattle are being crowded into feedlots for the last months of their lives before being served at the table. The WSJ reports that more than 50%, and likely 70% or 80%, of Argentina’s cattle are going to be finished in feed lots within the next five years. The Argentine Post also has a follow-up story about this topic.
Argentina Cuts Natural Gas Subsidies, Raises Rates [Bloomberg]
Argentine Planning Minister Julio de Vido said the government eliminated natural gas subsidies. The move will save the government 1.4 billion pesos ($420 million) a year. Consumers that use the most natural gas, 36 percent of residential users and 1.5 percent of industrial clients, will pay higher rates.
Argentine peso nears 7-year low on dollar demand [Reuters]
Argentina’s peso currency weakened on Tuesday to its lowest level against the dollar since a sharp devaluation in early 2002 as savers and companies opted for safe-haven greenbacks. In afternoon interbank trade, the peso was down 0.44 percent at 3.395/3.3975 per dollar, breaking October’s 3.39 low to touch its weakest level since the devaluation of the 2001/2002 economic crisis.
Argentina halts trade with Iran [BBC]
The government of Argentina says it is suspending commercial activity with Iran, worth more than $1 billion USD. The move comes because of differences over an investigation into the 1994 bomb attack on a Jewish cultural centre in Buenos Aires that killed 85 people.