The president of the Caracas Stock Exchange, José Grasso Vecchio, indicated during an interview last week that there are positive expectations regarding the stabilization of the Venezuelan economic system.

The executive stated that the institution is receiving numerous calls from investors around the world, which indicates a favorable opening to the national economy.

Local and foreign investment play a fundamental role in the recovery of the financial system, which, according to Grasso Vecchio, is “ready, stable, regulated, and interested in serving as a bridge to channel the flow of investments into the country.”

Regarding the exchange rate gap, he indicated that thanks to the easing of sanctions and the opening of the oil sector, a steady influx of foreign currency into the market has been achieved, which helps stabilize the exchange rate, with positive projections for the macroeconomic outlook.

The president of the Stock Exchange advocated for maintaining optimism in the face of the current situation. “It’s a great time to be positive, to support all this economic activity that is coming and that will help guide these results.”

M.Pino

Source: alnavio

(Reference image source: Jose Vazquez on Unsplash)

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La entrada Caracas Stock Exchange anticipates stabilization of the economic system apareció primero en Bitfinance.

The Government of Argentina announced an increase in electricity tariffs that will take effect in April. The main objective is to “normalize the electricity sector” and promote the efficient use of energy in the South American country. According to official sources, this increase will affect different user groups proportionally.

• Higher Income Users: The electricity bill for this group will increase by up to 150 % for average consumption.
• Sectors with Lower Purchasing Power: Here, the increase will be around 65 %. However, if the electricity consumption reaches 600 KW/h (the average being 380 KW/h), the increase could be as high as 130 %.

The Ministry of Energy of Argentina has pointed out that during the period 2019-2023, electricity tariffs remained static, with insufficient punctual adjustments. This lack of updating distorted the real costs of electricity supply, affecting both users and the technical and revenue-raising operation of the system as a whole.

The Department of Energy, under the administration of ultra-liberal Javier Milei and subordinate to the Ministry of Economy, considers this “tariff correction” to be essential for restoring relative prices in the economy, ensuring the economic self-sufficiency of the electricity system and laying the foundations for promoting private investment.

Next steps will include measures to restore the functioning of the wholesale market, reallocating subsidies to help those with lower purchasing power, and promoting responsible and efficient use of energy for intensive consumers.

K. Tovar

Source: Bancaynegocios

(Reference image source: @RadNalCo, X)

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La entrada Argentina will increase electricity tariffs apareció primero en Bitfinance.

In the north of El Salvador, in the Department of Chalatenango, the first private bitcoin mining farm will be carried out, which includes the construction of a 6 megawatt (MW) photovoltaic solar power plant to generate digital currencies using inexhaustible natural resources.

In an act carried out recently, the first stone was laid for the construction of the photovoltaic plant that will provide energy to the bitcoin mining farm, which will be located in the El Gavilán canton, Nueva Concepción, in Chalatenango. The project called Anchor I will be executed by a Swiss consortium that will be directed by Josué López.

The event was attended by Milena Mayorga, ambassador of El Salvador in the United States, who explained, through a Twitter social network account, “the renewable energy park has an initial investment of USD 4 million, although the projection of the first stage will amount to USD 15 million.”

Supporting local entrepreneurship

The Anchor I project is the most important private investment that has been registered in Nueva Concepción, Chalatenango. According to Mayorga, the amount invested in the area amounts to 200 million dollars in bitcoin.

For her part, the deputy of the Central American Parliament, Cecilia Rivera, stressed that the Executive Hydroelectric Commission of the Lempa River (CEL) will maintain agreements with the bitcoin mining consortium with the purpose of “building power generators in minihydros to expand power generation of the area while planning a hydroelectric plant in Nueva Concepción.”

Additionally, the parliamentarian indicated that the administrators of the investment fund El Zonte Capital will also support the venture in the area, who gave 150 thousand dollars to the inhabitants of Nueva Concepción to support the ventures through the Chivo Wallet.

M. Rodríguez

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Source: xataka.com

La entrada El Salvador will mine bitcoin with solar energy apareció primero en Bitfinance.