• Mon
  • Dec 22, 2014
  • Updated: 5:16am

Economy of Argentina

Calle Florida, Buenos Aires

Since the devaluation of the peso in 2001, shopping in Argentina has become attractive to many foreigners. There are a number of shopping precincts in the nation's capital, such as upscale Recoleta, the antiques fairs of San Telmo and the boutiques of Palermo.

Sunday, 30 March, 2008, 12:00am

Lesson too late for the learning

As the world watches, Latin America's third biggest economy is crumbling into political, financial and social anarchy. If the intention is to make Argentina an example for its spending excesses, then the lesson is surely being learned the hardest way possible.

21 Apr 2002 - 12:00am

The peso pariah

Argentina is bankrupt and effectively cut off from the international financial system. Abandoning its 10-year-old one-to-one currency peg to the US dollar was inevitable and arguably should have been done 18 months ago. Recovery depends on political leadership and shared sacrifice.

8 Jan 2002 - 12:00am

Argentina serves warning to safer Asia

Last month the forward price of the Hong Kong dollar sharply weakened. Plunging world share prices, a seemingly moribund United States economy and rumours of a yuan devaluation were cited as the trigger.

4 May 2001 - 12:00am

Slowdown in US takes toll on exports

Hong Kong's exports fell last month as the economic slowdown in the United States took its toll on demand, and the trend is set to continue in the first half.

The value of total exports of goods - re-exports and domestic exports - slid 1.2 per cent from a year earlier to HK$121.3 billion.

27 Apr 2001 - 12:00am

HK dollar peg clears money rates hurdle

Hong Kong's fixed-exchange system has passed another stress test as money rates remained stable after Argentina's surprise move to reshape its currency peg.

18 Apr 2001 - 12:00am

Weak peso pulls down benchmark

Philippine shares closed slightly lower yesterday on the continued weakness of the peso, with the indefinite closure of Urban Bank having minimal impact.

The Composite Index slipped 7.73 points to end at 1,639.83.

The All-Shares Index climbed 7.52 points to 639.6.

Decliners led advancers by 53 to 33, with 45 other stocks unchanged.

27 Apr 2000 - 12:00am

Fifty years ago

BUENOS AIRES (October 3): THE Argentine Government to-day 'froze' the prices of all essential goods - from floor mops to castor oil, from food to furniture.

It also lowered the free market value of the peso by about 47 per cent, in terms of the United States dollar.

3 Oct 1999 - 12:00am

Cebu Shipyard profits dip 18pc

Cebu Shipyard, owned by Singapore's Keppel Corp, recorded a 18 per cent drop in profits to 23 million pesos (about HK$4.09 million) in the first half of this year compared with 28 million pesos in January-June 1997. Turnover fell 21 per cent to 131.5 million pesos as a result of the regional economic crisis.

17 Aug 1998 - 12:00am

Forex losses pull down Metro Pacific net income by 16pc

Metro Pacific, the Philippine arm of First Pacific, yesterday said heavy foreign exchange losses saw net income last year slide 16 per cent to 713 million pesos (about HK$135.47 million).

Metro said it made an unrealised forex loss of about 418 million pesos as the slide in the peso made its US dollar debt more expensive to repay.

27 Feb 1998 - 12:00am

Emergency deal sees US$150m injection to Manila loan pool

The Philippine central bank yesterday struck a deal with the country's commercial banks aimed at preventing the peso from following the Indonesian rupiah and South Korean won into freefall.

18 Dec 1997 - 12:00am

Malaysia lets ringgit slide

The fallout from the devaluation of the Thai baht and Philippine peso has spread, with Malaysia's Bank Negara the latest central bank to bow to speculative pressure and refrain - for a time - from supporting its national currency.

15 Jul 1997 - 12:00am

Youngsters show change of pace

Buying sentiment in Asia shifted to the fringes last week. The leaders column is dominated by the stock markets of developing nations, while so-called mature markets trended lower.

2 Sep 1996 - 12:00am

Merval recovers

Agentina's Merval Index, which tumbled 4.1 per cent on Friday, rose 2.8 per cent on Monday to 519.22, defying predictions investors would abandon the country after the sacking of finance minister Domingo Cavallo last week.

31 Jul 1996 - 12:00am

Lorenzo sinks

Shares of Lorenzo Shipping Corp sank as much as 13.9 per cent on their trading debut on the Philippine Stock Exchange, weighed down by concern over profit at maritime companies.

Lorenzo's shares plunged as much as 0.86 peso from their offering price of 5.96 pesos. They recovered to 5.90 pesos in the final minutes of trading.

23 Jul 1996 - 12:00am

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