Argentina To Eliminate Taxes Paid By Biodiesel Producers

Posted by Joseph R. Fonseca
Monday, April 21, 2014
Argentine President Cristina Fernandez

 

Argentine President Cristina Fernandez on Monday asked Congress to eliminate some of the taxes paid by biodiesel manufacturers in a bid to support an industry hard hit by European Union anti-dumping measures.

Argentine biodiesel exports are expected to plunge as much as 39 percent this year versus 2013 due to tariffs imposed by the European Union, according to theArgentine industry sources.

The tax cut would last only as long as Europe's sanctions do, according to the proposal.

"We are in a trade war," Fernandez said in announcing the measure, which will be sent to Congress in the days ahead.

It was the latest in a series of pragmatic policy shifts by Fernandez this year as she contends with high inflation and slow investment and growth in Latin America's No. 3 economy.

In the past three months she has cut heating gas subsidies and let the peso devalue by 18 percent. Fernandez has also earned kudos from investors by revamping the government's shoddy inflation reporting and agreeing to pay Spain's Repsol $5 billion for the 2012 nationalization of oil company YPF. (Reporting by Jorge Otaola and Hugh Bronstein; Editing by Bernard Orr)

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Petrobras Downgrade Shakes Market

Moody's shocked bond investors this week with a surprise two-notch downgrade that put Brazilian oil company Petrobras in junk territory. The move was seen by some investors as overly assertive,

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

News

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

People in the News

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2839 sec (4 req/sec)