Argentine Company Fate Closes, Dismissing 920 Employees

Argentine tire maker Fate announced the immediate and definitive closure of its plant in Buenos Aires, leading to the dismissal of 920 workers. The company confirmed the end of its operations.

The Argentine tire manufacturer Fate announced its immediate and definitive closure, dismissing 920 employees. The company's statement, accessed by the Argentine News Agency (NA), informed that “Fate S.A.I.C.I. communicates that, as of today, it ceases activity at its industrial plant in Virreyes, San Fernando district, Buenos Aires province”. Fate Closes: The tire manufacturer announced the end of its operations and will dismiss 920 workers.

Latest news

See all news

2026-02-18T13:51:30+00:00

Dollar Exchange Rate in Argentina on Feb 18

On Wednesday, the official dollar rate in Argentina opened at 1.370 for purchase and 1.420 for sale. Rates for the blue dollar, MEP, CCL, and dollar card are also provided.

Economy Local

2026-02-18T13:48:11+00:00

Argentine Tire Manufacturer FATE Announces Definitive Closure

Argentine tire manufacturer FATE announced the immediate and definitive closure of its main plant in Buenos Aires, leading to the dismissal of 920 employees. The decision was made amidst a crisis fueled by rising imports and a complex macroeconomic environment.

Economy Politics Local

2026-02-18T13:43:36+00:00

Rising Delinquency in Buenos Aires Maintenance Fees

Buenos Aires is experiencing a sustained rise in maintenance fee delinquency, reaching 31% in the capital. Many condominiums are forced to take on debt to avoid collapse, while inflation and uncertainty are making the situation increasingly difficult for the middle class.

Economy Politics Local

2026-02-18T05:05:10+00:00

Inflation in Argentina Devalues Child Allowance

In January, Argentina's inflation was 2.9%, below the 3.5% rise in child-rearing costs. This means the Universal Child Allowance (AUH) now covers only a quarter of necessary expenses. The cost of baskets for different age groups has increased significantly, worsening families' financial situation.

Economy Health Local