During the meeting “Current Economic Issues: Dollarization in Venezuela?”, held at the Andrés Bello Catholic University (UCAB), economists María Antonia Moreno, Tamara Herrera, and Ronald Balza concluded that dollarization in the country will require fiscal, institutional, and statistical changes.…
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Honduras adjusts interest rate to 6 %
The Central Bank of Honduras (BCH) adjusted interest rates, which rose from 5.75 % to 6 %. The bank's president, Roberto Lagos, indicated that this is a preventative measure against inflationary pressures.
The adjustment comes in response…
Lorenzo Mendoza asserts private enterprise will lead Venezuela’s new stage
The CEO of Empresas Polar, Lorenzo Mendoza, stated that Venezuela has formally entered a new phase of economic reconstruction in which the private sector and free enterprise will play a leading role, following the exhaustion of the statist…
Venezuela’s labor market faces structural lag
Labor consultant Iván Acosta, director of PGA Group, indicated that Venezuela's current labor market faces a structural lag, primarily due to factors such as low wages, poor working conditions, and inadequate treatment of the workforce.…
World Bank increases support for developing countries
The World Bank has supported developing countries this year with more than $100 billion in private capital, representing an increase of over 60 %.
According to the institution's president, Ajay Banga, traditional donors “do not have the…
Venezuela signs memorandum of understanding with TotalEnergies subsidiary
The Venezuelan state oil company PDVSA signed a memorandum of understanding with TotalEnergies E&P New Ventures, a subsidiary of the French company TotalEnergies, to establish strategic cooperation in the hydrocarbons sector.
The…
Record: Bancamiga opens bank accounts for 15,400 children and teenagers in historic back-to-school…
This Saturday, Bancamiga’s special Kids operation became an unprecedented event, providing banking services to 15,400 children and teenagers across the country, as part of the return to school.
Starting at 9:00 a.m., Bancamiga opened…
The Fed raised rates to 3.75 %-4 % as inflation continues to rise
The US Federal Reserve decided to raise interest rates to the 3.75 %-4 % range in a scenario characterized by high inflation.
This is the Fed's first rate hike since July 2013 and one of the most controversial decisions by the new chairman…
Canada could become the European Union’s first associate member
European Commission President Ursula von der Leyen announced on Wednesday, September 16, that Canada has been invited to become its first associate member, a new status within the EU about which details are unknown.
This is part of a…
UN warns about human rights impact of AI development
UN High Commissioner Volker Türk warned member states on Monday about the dangers to which all human rights are exposed due to the advancement of AI.
Türk stated in a press release that “all human rights are at risk, including the rights…
Bancamiga offers first financial experience for back to school
Learning to manage money is one of the best gifts for our children's future. That's why, this Saturday, September 19, all 51 Bancamiga branches across the country will open their doors to celebrate the start of the school year and give away…
Falcón-Aruba air route will benefit local business owners
Business owners and merchants in Falcón state, in western Venezuela, have high hopes for the opening of the direct air route between Las Piedras Airport and Aruba.
Business leaders hope that approximately six commercial airlines will soon…