Luxury Boom in Milei's Argentina Masks Despair Among the Masses
Two contrasting realities are emerging in Argentina three months before the midterm elections, in which voters' perceptions of the economy stands to determine how successful Milei's party will be in winning more support for his austerity and pro-market approach. Income inequality is nothing new in Argentina. But a strong currency is just as much a pillar of Milei's early accomplishments — lower inflation and poverty — as it is a driver of the country's uneven recovery led by the libertarian, who is opening up a protectionist economy not used to foreign competition.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Galan Lithium Limited: Incentive Regime for HMW Project in Argentina
PERTH, Australia, July 28, 2025 /PRNewswire/ -- Galan Lithium Limited (ASX: GLN) ("Galan" or "the Company") is pleased to advise that the Comite Evaluador de Proyectos RIGI, responsible for awarding the Argentine Government's Régimen de Incentivo para Grandes Inversiones (the incentive regime for large-scale investments referred to as the "RIGI"), has approved the RIGI for Galan's flagship Hombre Muerto West ("HMW") Project in Catamarca Province, Argentina. Galan now expects to receive official approvals relating to the RIGI in due course. The RIGI is a landmark investment framework introduced as part of the Government of Argentina's new economic reform agenda, aimed at encouraging large-scale investment in key sectors, including mining. The RIGI provides long-term certainty on tax and foreign exchange regulations, as well as streamlined permitting, both critical enablers for project financing, efficient construction and operation of the HMW Project over its multi-decade life. HMW will be only the sixth project to receive the RIGI approval in Argentina and the second in the mining sector, following the recent award to Rio Tinto's Rincon project. Managing Director, Juan Pablo ("JP") Vargas de la Vega, commented: "This is a major milestone for Galan that will further strengthen HMW's global competitive position as a future low-cost producer. The RIGI will provide a strategic advantage to Galan and will unlock meaningful long-term value for the people of Catamarca and our shareholders. The RIGI delivers fiscal stability and operational certainty over the long-term, key requirements for major project financing and execution. It also signals strong alignment between Galan and the Argentine government's broader vision of accelerating lithium production and economic development. Galan sincerely thanks the Government of Argentina and the Province of Catamarca for endorsing HMW for official approvals under the RIGI which further substantiates HMW as a significant project in Argentina and globally." Key Benefits of the RIGI for the HMW project: Reduced Corporate Income Tax: a significant 10% reduction in corporate income tax rate to 25%. Fiscal Stability: Certainty around income tax, royalties, and export duties for 30 years. Foreign Exchange: Preferential access to currency markets for imports and dividend repatriation. Customs & Tariff Exemptions: Reduced barriers for importing critical equipment and materials. Accelerated Depreciation: Improved cash flow through tax-effective project development. About Hombre Muerto West HMW is a multi-decade, lithium brine project in Argentina with compelling economics. Phase 1 provides for a 4ktpa LCE operation, producing a 6% LiCl concentrate product over a projected 40-year life (1). Galan expects first Phase 1 production in H1 2026 and has secured an offtake agreement for 45,000 t LCE of production. Beyond Phase 1, the Company will undertake a phased scaling approach, eventually ramping up to 60ktpa at the conclusion of Phase 4. This approach mitigates funding and execution risk and will allow for continuous process improvement. With a world class resource and a cost profile within the first quartile globally, HMW is a clear demonstration of the benefits of a high-quality lithium brine asset. These benefits are allowing Galan to progress through development and into production with a lower capital intensity and lower risk profile when compared to hard rock lithium (spodumene) projects. As importantly, lithium chloride is a key component for lithium iron phosphate (LFP) batteries, which have become the dominant battery product globally. With the ability to be cost effectively converted into a lithium dihydrogen phosphate or lithium carbonate, lithium chloride, as will be produced at HMW, is an ideal source for LFP batteries. The Galan Board has authorised this release. Please refer to the Mineral Resource Statement for Galan's Total Resources of 9.5Mt LCE. (1) Please refer to the announcement dated 3 July 2023 (ASX: Phase 1 of Hombre Muerto West (DFS Delivers Compelling Economic Results for Accelerated Production)). The Company confirms that all material assumptions underpinning the production target continue to apply and have not materially changed. For further information contact: COMPANY MEDIA Juan Pablo ("JP") Vargas de la Vega Matt Worner Managing Director VECTOR Advisors jp@ mworner@ + 61 8 9214 2150 +61 429 522 924 About Galan Galan Lithium Limited (ASX: GLN) is an ASX-listed lithium exploration and development business. Galan's flagship assets comprise two world-class lithium brine projects, HMW and Candelas, located on the Hombre Muerto Salar in Argentina, within South America's 'lithium triangle'. Hombre Muerto is proven to host lithium brine deposition of the highest grade and lowest impurity levels within Argentina. It is home to the established El Fenix lithium operation, Sal de Vida (both projects are owned by Rio Tinto following its successful acquisition of Arcadium Lithium). Galan also has exploration licences at Greenbushes South in Western Australia, just south of the Tier 1 Greenbushes Lithium Mine. View original content: SOURCE Galan Lithium Limited Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Wall Street's Tom Lee Says This 'Most Hated' Rally Could Be A Fortune-Maker—And Bitcoin at $250K Isn't Out Of Reach
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. When Wall Street veteran Tom Lee speaks, investors listen. As head of research at Fundstrat Global Advisors, Lee has built a reputation for bold predictions and contrarian calls that often prove prescient. In a recent CNBC interview, the market strategist delivered a compelling case for why current market skepticism could create generational wealth opportunities—and why his eye-popping Bitcoin price target might not be as crazy as it sounds. The Recovery Everyone Loves to Hate Lee describes the market's recent rebound as the 'most hated V-shape bounce in history,' pointing to a critical disconnect between market performance and investor sentiment. During what he calls 'April tariff Armageddon,' fear of recession drove massive liquidations, leaving most investors underexposed when markets staged their dramatic recovery. Don't Miss: Be part of the breakthrough that could replace plastic as we know it— — no wallets, just price speculation and free paper trading to practice different strategies. This positioning creates an unusual dynamic: strong fundamentals meeting widespread skepticism. 'Most investors are currently underexposed,' Lee notes, suggesting significant upside potential as sentiment eventually catches up to reality. Why the Market Is Cheaper Than You Think Challenging the narrative that stocks have become dangerously overvalued, Lee presents compelling valuation data. Despite enduring what he characterizes as 'six extinction-like events' over the past six years—including COVID-19, supply chain disruptions, inflation surges, aggressive Fed rate hikes, Trump tariffs, and geopolitical tensions—S&P 500 earnings have actually grown. More surprisingly, the equity-weighted S&P multiple has compressed from approximately 17.6 times in 2019 to 16 times currently. This suggests the market has become cheaper even as earnings demonstrated remarkable resilience through unprecedented challenges. Trending: Grow your IRA or 401(k) with Crypto – . Apple's AI Ace in the Hole While much attention focuses on the 'Magnificent Seven' tech giants, Lee offers a contrarian take on Apple (NASDAQ:AAPL). He believes the iPhone maker has been 'quietly ready to pounce on AI' and will 'surprise people' with its approach. Drawing parallels to Apple's transformative but late entry into smartphones with the 2007 iPhone launch, Lee suggests that when Apple decides to 'play big in AI,' it will 'change the game.' He emphasizes Apple's competitive advantages in safety, privacy, and user experience optimization—particularly valuable if large language models become commoditized. The strategist also supports speculation around Apple's potential foldable phone launch this fall, noting that larger screens drive users toward 'computing and something much higher capability,' aligning with augmented reality applications in the AI era. The Stablecoin Revolution and Ethereum's Golden Opportunity Lee identifies stablecoins as the 'ChatGPT moment for crypto,' highlighting their growing adoption by businesses, consumers, and major financial institutions like JPMorgan Chase (NYSE:JPM) and Citigroup (NYSE:C). This trend creates significant opportunities for Ethereum, which hosts the majority of stablecoins and generates over 30% of its network fees from this Ethereum approaching a $4 trillion market valuation, Lee sees substantial upside. While technical analysis suggests near-term targets around $5,000, he believes valuation metrics similar to Circle could justify prices between $10,000 and $20,000. The $250K Bitcoin Vision Perhaps Lee's boldest call remains his Bitcoin price target of $200,000 to $250,000, which he maintains 'still makes sense.' His reasoning is straightforward: this would value Bitcoin at just 25% of gold's market size. Looking further ahead, Lee reiterates his belief that Bitcoin 'should be worth over a million per bitcoin' and that this 'could happen in the next few years.' The Bottom Line Lee's message is clear: current market skepticism, combined with resilient fundamentals and emerging technological shifts, creates compelling investment opportunities. Whether through traditional equities trading at compressed multiples, Apple's potential AI breakthrough, or cryptocurrency's institutional adoption wave, patient investors willing to look past short-term noise may find themselves positioned for significant gains. As Lee emphasizes, his goal at Fundstrat remains helping clients 'find good ideas and make money'—and his track record suggests these contrarian insights deserve serious consideration. Read Next: A must-have for all crypto enthusiasts: . Image: Shutterstock This article Wall Street's Tom Lee Says This 'Most Hated' Rally Could Be A Fortune-Maker—And Bitcoin at $250K Isn't Out Of Reach originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
2 hours ago
- The Hill
Ohio State University president: Ivy League presidents ‘in survival mode, quite frankly'
The Ohio State University (OSU) President Ted Carter said on Sunday that he thinks Ivy League schools are in 'survival mode,' when asked about Columbia University's settlement with the Trump administration. In an interview on CBS News's 'Face the Nation,' moderator Margaret Brennan asked Carter whether he's troubled by the 'precedent' that the settlement sets and whether he would have agreed to a similar deal to resolve a hypothetical dispute with the administration. 'I can't speak to those institutions because I'm not leading them,' Carter responded. 'I know both President Shipman and some of the other Ivy League presidents are colleagues, and they're having to do, I think, what I would call, be in survival mode, quite frankly,' he said, referring to acting Columbia University President Claire Shipman. 'We're not going through any of that here at Ohio State, and nor do I think that we will,' Carter added. Columbia agreed to pay $221 million to restore the more than $400 million in federal funding that was blocked by the administration, according to the settlement announced July 21. In cutting off Columbia's funding, the Trump administration originally cited alleged inaction on antisemitism, though Education Secretary Linda McMahon pointed to more ideological motives in an interview after the settlement was announced. 'This is a monumental victory for conservatives who wanted to do things on these elite campuses for a long time because we had such far left-leaning professors,' McMahon said on Fox Business Network. The university, which saw some of the nation's most active pro-Palestinian campus demonstrations amid the war in Gaza, did not have to admit to wrongdoing as part of the deal.
