After a hectic week between power cuts and nationalization complaints, Claudio Cunha, the CEO of Enel, owner of Edesur in Argentina; he became Sergio Massa’s spokesman. In a statement that surprised his colleagues, Cunha made public the economy minister’s promises that there would be no intervention or nationalization. In this way he tries to avoid a collapse in the price of the distributor, whose sale process starts in March with the Santander bank, which also has the order for the plants of the Italian Enel. Around this process there are many names at stake and no certain offers. Enel directly owns 43.1% of Edesur’s shares and, in turn, owns 51.5% of Distrilec Inversora with the remaining 56.4% held by Edesur.
As for the blackouts which in the midst of the heat peaks left 180,000 users without service, around 720,000 people, were carried out by order of the Enre, the regulatory body. Is that when there are heat peaks, the electrical system requires a perfect balance between the demand and the energy that is generated, since electrical energy cannot be stored. That’s why, faced with demand that has exceeded generation, the system administration body orders partial cuts to avoid widespread blackouts. There was another smaller cut where there were problems in the electrical distribution system, not the generation. And in this case, the possibility of supplying power and distribution transformers to mitigate the fragility of the electricity system is affected by the delay of the country’s electric transformer manufacturing companies, unable to supply new equipment due to “the impossibility of obtaining imported manufacturing inputs” , as warned by the CIPIBIC Chamber of the sector.
Last Thursday Sergio Massa received the Construction Chamber, which asked for the arrears in payments. certificates of public works which, with high inflation, compromise the “life” of companies. Gustavo Weiss has taken the promise that they will pay off Banco Nación’s debt. In the case of nationwide state-dependent labor, the figure rises to $150 billion. Entrepreneurs say there is another millionaire figure in the case of provinces and municipalities that have to negotiate on a case-by-case basis.
Estateting is the name of a brand new company which, in alliance with banks, allows you to buy properties around the world, which are treated as shares and can be credited to bank accounts. It was founded in Luxembourg in 2020 by a group of bankers from Switzerland, Germany and Luxembourg itself. In some way, they connect the equity investor and the real estate investor. “It’s about securitizing a real estate investment,” says Daniel Vegue Dominguez, one of its co-founders, explaining that they set out to create a financial instrument for the real estate market. Estate’s investment portfolio includes luxury apartments in Miami or Madrid, development projects in the United States, logistics parks and hotels in the Caribbean and multi-family homes in Germany. They work with UBS, EFG, Julius Baer, Credit Suisse, Swissquote, Pershing – Bank of New York. They just opened offices in Montevideo.
Symbol of a very short blanket, in the negotiation to avoid new increases in meat prices, the Ministry of Economy has promised to eliminate the regime that discourages the export of the raw material salted leather. This is how the refrigerators can market the pieces directly, without the need for them to pass through a tannery for their industrialization. This industry has put the shout in the sky. He points out that the measure goes against the principle of added value of the industry. And he claims that the roast has nothing to do with the price of the skin. Leather represents only 1.7% of the price of livestock.
The Colombian Rappi reinvented himself after the pandemic in which delivery was all the rage and consolidated. With its technology hub in Argentina under the responsibility of 250 high-tech professionals, it has developed Turbo, a mode that allows delivery in less than 10 minutes. Incidentally, they have expanded to markets where everything is still to be done, such as the provinces. In its five years of existence in the country, Rappi has been downloaded by six million users and has become the sales channel for 24,000 SMEs. It has 20,000 distributors who are single tax payers and have insurance contracted by Rappi. If they work 8 hour days for five days, they can get $240,000 a month. In addition to the Capital and Greater Buenos Aires, Rappi reached 15 provinces and summer cities such as Ostend, Pinamar and Valeria del Mar.
Source: Clarin
