The president of the National Council of Commerce and Services (Consecomercio), José Gregorio Rodríguez, forecasts a possible 10 % increase in sales in December.

Rodríguez referred to the last month of the year, when Christmas shopping boosts the market, while acknowledging that merchants face various challenges related to the exchange rate differential, but also linked to the inflation rate, with an average estimate of 250 % by the end of the year.

The executive urged authorities to conduct a review of the tax issue and specified that “more foreign currency must be allocated to priority areas, to areas considered important, because otherwise, this will translate into price increases and adjustments, and ultimately, the market will have a significant impact.”

According to Rodríguez, “63 % of the population lacks significant purchasing power and is limited to purchasing food, medicine, and toiletries. What we would like is to sell much more volume, not adjust prices, but we have some realities that we have to face.”

M.Pino

Source: bancaynegocios

(Reference image source: Artem Beliaikin on Unsplash)

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La entrada Consecomercio estimates a 10 % increase in sales in December apareció primero en Bitfinance.

The Central American Bank for Economic Integration (CABEI) will close this Friday, September 8, the period for candidates who so wish to apply for the position of executive president of the entity to, in November, proceed to their election.

The LXIII CABEI Board of Governors, held on May 12, decided that the current president of the bank, Dante Mossi, would not be renewed in office, which has led to the opening of the term to search for new names.

The new president must take office on December 1st for a period of five years. At the moment, there are few names on the table, although the member countries have begun to articulate their strategies.

The chosen candidate must come from one of the five founding countries of CABEI, which reduces the options to five member states: Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. Since 1961, the institution has had five presidents from Honduras (including Mossi), four from Guatemala, three from Nicaragua, two from Costa Rica and one from El Salvador.

From El Salvador, the possibility is being considered that the former Minister of Finance, Alejandro Zelaya, launch his candidacy, according to Bloomberg. Currently, Zelaya is CABEI country director, after Nayib Bukele’s appointment of him to this position and his nomination for president would imply his resignation.

In recent weeks it has also become known that Guatemala and Costa Rica are considering presenting a common name to preside over the institution. This hypothetical candidate could have the approval of important partner countries that contribute large amounts of capital, such as Spain, Mexico or Taiwan.

In addition to the geographical origin and the different political interests that come into play, CABEI requires candidates to have “recognized professional capacity, honesty and experience of at least ten years in managerial and executive positions in economic, financial, banking or in development policies”.

K. Tovar

Source: Infobae

(Reference image source: CABEI, dpa)

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La entrada CABEI will close the applications for the presidency this Friday apareció primero en Bitfinance.

The National Superintendency for the Defense of Socioeconomic Rights (Sundde) published, on Thursday, December 1st, a new “list of maximum consumer prices in prioritized items” in dollars.

In a message posted on his Twitter account, he reported that “as a result of the dialogue tables with the productive agri-food sector, we were able to agree on maximum prices for the final consumer in some prioritized items.”

The prices will be governed by the official rate of the Central Bank of Venezuela (BCV), as reported by the bank, among which are: natural canned tuna at (1.18 dollars), 1 kilo pork rib (7.50 dollars), one kilo special bologna (4 dollars), 850 milliliters of edible palm oil (2.75 dollars), 850 milliliters of edible vegetable oil (3.2 dollars), 1 kilo of precooked cornmeal (1.20 dollars), wheat 1 kilo (1.30 dollars), pasta 1 kilo (1.50 dollars), white table rice 1 kilo (1.20 dollars), refined sugar 1 kilo (1.25 dollars).

This measure had not been implemented in the country between 2015 and 2018, a period in which Venezuela experienced serious shortages.

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With information from Doblellave

La entrada Sundde launches list of regulated products apareció primero en Bitfinance.

The Central Bank of Venezuela (BCV), in its inflationary figures published last weekend, indicated that this indicator of the country closed for the month of December at 7.6%.

This keeps the Venezuelan inflationary index back in single digits, according to the National Consumer Price Index.

After four months without presenting figures on inflation in the early hours of this Saturday, the issuing institute published The National Consumer Price Index in which it is indicated that inflation, only in the month of December was located (2,577,508,248,886, 0), which is equivalent to 7.6%.

The recent Venezuelan inflationary indices stood at 7.1% in September; October 6.8% and November 8.4%.

K. Tovar

Source: Finanzas Digital

La entrada Venezuela ended the year with one-digit inflation apareció primero en Bitfinance.

Companies in the United States were able to generate 807,000 new jobs last December, the highest monthly figure since last May, after the lifting of restrictions due to the pandemic, according to data published by the consultancy ADP .

The strong job creation at Christmas, which far exceeded the 505,000 jobs generated in November, suggests that the impact of the omicron variant on the labor market was not noticed at the end of last year, waiting to be known this Friday official unemployment and job creation data.

“The December labor market strengthened as the aftermath of the delta variant faded and the impact of omicron had yet to be seen”, said Nela Richardson, ADP chief economist.

Thus, average job growth in the fourth quarter of 2021 reached 625,000 jobs, exceeding the average of 514,000 for 2021 as a whole, when 6 million new jobs were surpassed.

However, ADP warned that despite the job market recovery, private sector payrolls are still nearly 4 million jobs below pre-pandemic levels.

K. Tovar

Source: CNBC

La entrada Private sector in the US created almost a million jobs apareció primero en Bitfinance.

President Nicolás Maduro announced that from November 1st, until December 31, 2021, the country will enter a process of easing the quarantine.

The Venezuelan president thus announced the temporary suspension of the 7 + 7 system, a scheme that has been applied since mid-2020 due to the health situation generated by the coronavirus.

“It has been proposed from November 1st to December 31 as weeks of safe flexibility at the commercial, labor and economic level of the country, we can aspire to have a month of November and December of flexibility, safety, health and happiness“, he said.

On the other hand, the president indicated that Venezuela has more than 50 % of the vaccinated population, thanks to the Covax system and allied countries, hopes to be able to achieve more than 80 % of Venezuelans protected from Covid-19 by the beginning of the expanded flexibilization.

K. Tovar

Source: Correo del Orinóco

La entrada Venezuela will boost its economy in November and December apareció primero en Bitfinance.