Various factors in the oil sector, such as increased product and production prices, along with new export conditions, could push revenue this year above 100 %.
This is according to experts from Datanalisis, a local firm, who add that "Venezuela was an oil powerhouse in the last century, with…
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United States issues license for Venezuelan debt restructuring
The Office of Foreign Assets Control (OFAC) issued License No. 58 on Tuesday, May 5, authorizing “all transactions… necessary for the provision of legal, financial, and consulting services… in connection with potential debt restructuring…
Approaching El Niño accelerates protection measures in Latin America
The arrival of El Niño, expected in the second half of the year, has already brought high temperatures to some countries, such as Mexico, this week. Climate forecasts indicate that this year this phenomenon could be devastating.
“Its full…
Venezuelan central bank projects single-digit inflation starting in May
The sustained slowdown in the Consumer Price Index (CPI) in Venezuela supports the recent statement by the president of the Central Bank of Venezuela (BCV), Luis Pérez, regarding single-digit inflation starting in May.
The sustained…
April inflation in Venezuela closed at 10 %
Data from the Central Bank of Venezuela on the Consumer Price Index (CPI) at the end of April places the indicator above 10 %, representing a slight decrease in inflation compared to previous months.
The regulatory body placed the…
Ecuador to reduce tariffs on Colombian products starting June 1
The Ecuadorian Presidency issued a press release announcing the reduction of tariffs on Colombian products to 75% starting June 1.
The decision was made despite differences between President Daniel Noboa and his Colombian counterpart,…
Fed leaves rates unchanged
Last week, Jerome Powell chaired the Fed's final meeting, keeping rates between 3.5 % and 3.75 %, before being replaced by Kevin Warsh at the end of the month.
In an official statement, the Federal Reserve indicated that inflation in the…
PDVSA signs agreement with Italian company Eni to increase gas production
The Venezuelan state oil company Petróleos de Venezuela (PDVSA) and the Italian company Eni signed an agreement on Tuesday, April 28, to increase gas production, amid the opening of the energy sector following the easing of US sanctions…
Venezuelan government announces salary increase
Venezuela's interim president, Delcy Rodríguez, announced a minimum wage increase to $240 for both the public and private sectors.
She also announced an increase in the monthly pension payment, which will now be $70.…
This Friday, May 1st, will be a bank holiday
This Friday, May 1st, bank branches throughout Venezuela will be closed due to the International Workers' Day holiday, according to the calendar of the National Superintendency of Banking Sector Institutions (Sudeban).
The agency…
Bancamiga safeguards its operations with international standards
In a financial environment that demands absolute rigor and demonstrable transparency, Bancamiga has consolidated prevention in each of its processes, elevating its risk management culture.
On its way to its first 20 years, Bancamiga…
Mercosur to consider Venezuela’s reincorporation
The members of the Southern Common Market (Mercosur) are analyzing the possibility of Venezuela's reincorporation into the trade bloc, taking into account the easing of sanctions against the country as well as changes in the political…