Tag Archives | buenos aires

Buenos Aires News: Edition 2

More interesting news from Buenos Aires this week:

Argentine court intervenes in Aerolineas Argentinas [Reuters]
An Argentine court agreed to oversee the day-to-day running of the country’s main airline on Friday amid signs the government is moving to expropriate the carrier from its Spanish owners.

Airline Grab Gains Ground in Argentina [The Wall Street Journal]
An Argentine congressional committee recommended that the government nationalize flagship airline Aerolíneas Argentinas, in a move likely to heighten investor concerns about the country.

Barack Obama Calls Cristina Fernández [The Argentine Post]
President-elect Barack Obama called Argentina’s president, Cristina Fernandez on Tuesday, November 18th and had a 10 minute conversation with her.  She had previously announced her preference that he win the presidency and sent a congratulatory note to him when he won.

Where is the Argentine Peso Headed [The Argentine Post]
A good summary of the peso’s decline, why it’s not declining faster, and what we might expect in the future.

Argentines react to pension nationalization [Washington Post]
Argentine officials on Friday praised the nationalization of $23 billion in private pensions as good news for workers, while opposition leaders called it more of a looting than a reform.

Buenos Aires to Get Tour Buses [Hostel Colonia]
One familiar site in NYC and many other major cities of the world are the double-decker Hop-On, Hop-Off tour buses that you see taking tourists around the city. They can be a convenient way to quickly see a lot of a city when you don’t have much time to spend there. (I’ve been on them in Barcelona, Dublin, and a few other cities.)  With the huge explosion of tourism in Argentina, it was surprising that there was no tour buses here.  Well, as of January, that will no longer be the case as 8 new buses are coming to take tourists from La Boca to Palermo.

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Buenos Aires News: Edition 1

Welcome to the first of a weekly series highlighting some of what I consider to be the more interesting news from Buenos Aires and Argentina.  I find many new things every week and often want to blog about them, but realize that I don’t always have the time to get to them.  Hopefully, with these posts, I can just give a quick summary and you can read the ones that interest you.

Maradona rubbed from Yahoo! web by Argentinian judge [The Register]
Following a judge’s temporary restraining order, all searches for Diego Maradona, Argentina’s most (in)famous soccer player, on Yahoo! Argentina have been blocked.  Argentine judges have issued more than 100 search site restraining orders over the past two years in an attempt to expunge allegedly inappropriate references to some of the country’s most recognizable names. Most of these have been lead by one attorney who is effectively censoring the Internet.

Argentine Fans Hijack Public Buses To Go To Match [Reuters UK]
How much do Argentines love their soccer?  Let’s just say that things often get a little crazy when soccer is involved and this latest story is no exception.  On November 13, in two separate incidents, fans of an Argentine second division soccer team hijacked two public buses and ordered the drivers to take them to their team’s game.

Spare Change? There’s None in Buenos Aires [Time]
Time has a good article covering the shortage of coins in Buenos Aires and the problems it’s causing across the city.  Many stores have “No Change” signs up, large grocery stores routinely round-off the total in their favor.  So acute was the coin shortage, one day last month, that the Metrovias subway company was forced to open its turnstiles and let passengers ride for free after it ran out of change. Interesting article…

Argentina vetoes glacier law that curbed mining [Reuters]
Argentina’s president has vetoed a law that would have protected the country’s glaciers by restricting mining and oil drilling. The law, which was passed by Congress last month, was vetoed by President Cristina Fernandez. She issued a decree stating that governors in Andean provinces feared the glacier law could threaten economic development in their regions.

Al Jazeera focuses on Latin America [The Miami Herald]
The Buenos Aires office of Al Jazerra’s English service is dedicated to reporting the news from Latin America in a different way.

Brazil, Argentina Agree to Increase Import Taxes [Bloomberg]
As if imported good were not expensive enough here, Bloomberg is reporting that import taxes will be raised on various products including wine, peaches, canned foods, textiles, pasta and wooden furniture, from outside the Mercosur trading bloc.

Fiscal Crisis Gives Argentines Familiar Sinking Feeling [New York Times]
A growing number of Argentines are stockpiling dollars amid worries that their government’s economic policies have doomed them to yet another financial crisis.

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Anxious Argentines tighten their purse strings

It seems that a lot of the news these days is focused on the ongoing farmer’s strike in Buenos Aires and it’s effect on consumer confidence. Guardian.co.uk is reporting on Argentines putting the brakes on spending due to rising inflation, the continued dispute with farmers and lack of confidence in the president. Many sources dispute the government’s numbers on inflation and suspect the real numbers to be much higher. Argentines also seem to be wary of the possibility of another financial crisis with many of them reported to be putting their money into US dollars.

There is no doubt that the 3-to-1 peso to dollar ratio was a strong consideration in my decision to move to Buenos Aires. Coming from NYC, the cost of living is considerably lower and my savings alone should be enough to support me for at least a year. While things may not be as cheap as they were immediately following the 2001 crash, for a New Yorker, things are still very cheap.  While I do not fully understand what effect these latest crises may have on the local economy, I’ll do my best to keep on top of the news and detail my experiences once I get there.

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