Venezuela’s National Electric System (SEN) is experiencing a new crisis due to increased domestic consumption. Engineer Elías Matta proposes the recovery and reactivation of inactive power plants as a way to resolve the blackouts.

The energy specialist “presented a technical analysis demonstrating that Venezuela has twice the installed capacity needed to meet national demand.” However, the fact that numerous plants are inactive causes a deficit of 2,160 megawatts (MW), a figure that coincides with the volume of current power rationing.

According to Matta, reactivating 10 % of the capacity would inject the 2,160 megawatts currently needed into the National Electric System (SEN), thus resolving the rationing currently in place across much of Venezuela.

His analysis of the current electricity situation leads to a plan that includes key steps:

• Payment of commitments allocating $3.5 billion to settle debts with the Inter-American Development Bank and CAF.
• Leveraging obtaining $12 billion in loans at low interest rates.
• Prioritize investment initiating the reconstruction of the electrical system and the drinking water service.

M.Pino

Source: elnacional

(Reference image source: Raisa Milova on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Reactivating electrical infrastructure could help resolve crisis in Venezuela apareció primero en Bitfinance.

The president of the National Council of Commerce and Services (Consecomercio), José Gregorio Rodríguez, indicated that Venezuela’s economic growth could exceed 10% by the end of 2026.

Regarding the commercial sector, the president of the business association emphasized that it is expected to experience a rebound of 3 % to 4%  by the end of this year.

As Rodríguez stated in a television interview, “this positive trend will become more evident as the year progresses.” He added that economic growth will be reflected in the second half of 2026, “because the measures that can be adopted today are the product of a process.”

He emphasized the importance of a balance in key factors such as “tax burdens, financing, the simplification of administrative procedures, and attracting investment. For Rodríguez, the sustainability of growth depends on a comprehensive vision.”

On May 21 and 22, Consecomercio will hold an assembly in Lara state, where stakeholders in the sector will address essential and strategic issues related to national economic development.

M.Pino

Source: ultimasnoticias

(Reference image source: Fejuz on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Venezuela’s economic growth expected to exceed 10 % by the end of 2026 apareció primero en Bitfinance.

In the coming months, TikTok will launch an ad-free subscription in the UK for £3.99 per month for users 18 and over.

According to the video platform, “the free access will show ads tailored to users’ interests, with settings to configure them.”

Beyond this new feature, the core TikTok experience will remain the same; that is, customers will enjoy the same access to features, creators, and content.

The company’s statement explains that “the goal of the new subscription is to offer the community more options, but also to support businesses across the UK in ensuring their advertising investments reach the right audience at the right time.”

M.Pino

Source: infobae

(Reference image source: Solen Feyissa on Unsplash)                    

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada TikTok to launch ad-free subscription for 18+ users in the UK apareció primero en Bitfinance.

Since the beginning of this year, the United States has remained Spain’s leading supplier of gas and oil, surpassing Algeria, which previously held that position.

This information was confirmed by data from the Statistical Bulletin of Enagás, the technical manager of the Spanish gas system. The agency indicates that “during the month of April, Spain received a total of 10,071 gigawatt-hours (GWh) of liquefied natural gas (LNG) from the United States, representing 35.1 % of the total imported that month.”

According to these figures, the United States has surpassed Algeria for the fourth consecutive month. “Russia came in third place, with 4,394 GWh and a 15.3 % share, less than half of what it was in March, when record figures exceeding 9,800 GWh were reached.”

Other data confirm that between January and April, Spain imported 47,901 GWh of gas from the United States; that is, 36.2 % of the total.

The U.S. is also expanding into the Spanish oil market. So far this year, the country has received 334,000 tons of Venezuelan oil. In March alone, this represented 4.1% of total imports.

M.Pino

Source: economiadigital

(Reference image source: Eric Prouzet on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada The United States leads oil and gas supply to Spain apareció primero en Bitfinance.

In an effort to strengthen the business fabric of eastern Venezuela, Bancamiga successfully held the forum “Tools to Boost and Boost Your Business.” The event brought together more than 800 entrepreneurs and representatives of small and medium-sized enterprises in Maturín.

José Simón Elarba, Chairman of the Board of Directors of Bancamiga, welcomed the attendees, emphasizing the institution’s commitment to regional economic growth and its social commitment to Venezuelans.

He explained that the bank organizes these forums because, since 2019, the country has witnessed the resilience and ability of Venezuelans to overcome adversity. Despite the challenges, they have developed initiatives to move forward. “That’s where Bancamiga’s idea began: to connect the dreams, aspirations, ideas, and projects of entrepreneurs with experts who can help them grow,” he stated.

Video on Instagram: https://www.instagram.com/reel/DYVMnfmKpz-/

Elarba highlighted that Bancamiga’s goal is to provide not only financial services but also the knowledge necessary for each entrepreneur to scale their business and contribute to the well-being of their community.

The event had the strategic support of the Monagas Entrepreneurship Development Fund (Fondeem) and the Emprender Juntos platform, represented by its president and state coordinator, Gabriel Oleggini, who highlighted the importance of public-private partnerships to boost the local economy.

High-level agenda

The forum offered a comprehensive training program, covering everything from strategic vision to technological innovation. Mauricio Parilli, Director of Aprendo y Emprendo (Learn and Start Up), kicked off the day with the presentation “Building Sustainable Businesses,” urging entrepreneurs to generate economic, social, and environmental value.

Marketing strategist and speaker Isa Bermúdez captivated the audience with “The Voice of Your Brand: Communicating with Impact,” providing key insights for differentiating businesses in a competitive market.

For his part, economist Jesús Palacios presented “Business Opportunities in Venezuela,” offering a clear vision of the trends and growth possibilities in the current context.

The forum’s closing session was led by Joco González, a digital business specialist, who spoke on the “Strategic Use of Artificial Intelligence,” equipping attendees with cutting-edge tools to optimize their processes.

Boosting entrepreneurship

Monagas is one of the states where the entrepreneurial movement is strongest nationwide. Gabriel Oleggini, President of Fondeem, noted that the state has 37,000 registered entrepreneurs, 61 % of whom are women. “It’s a very interesting dynamic that allows us to develop the productive forces of our state,” he added.

The forum held in Monagas reaffirms Bancamiga’s corporate social responsibility policy. Bancamiga offers various training options for people with business initiatives and published the Entrepreneur’s Manual, outlining the steps to turn business ideas into reality.

And the entrepreneurs… “They also have access to the agency teams, who advise them on products and services, and to Bancamiga’s financing so they can scale and become business owners,” emphasized José Simón Elarba.

With information and images provided by Bancamiga Banco Universal

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada José Simón Elarba reaffirms Bancamiga’s commitment to the country’s economic development in Monagas apareció primero en Bitfinance.

The Superintendency of Banking Sector Institutions of Venezuela (Sudeban) announced that on Monday, May 18th, public and private sector bank branches will be closed due to the Ascension Day bank holiday.

The public is advised to take precautions, as with all national and bank holidays throughout the year, and to use the available channels for their transactions:

• Online Banking: Each bank has its website active 24 hours a day, every day of the year, offering bank customers options to check their balance, pay for services linked to their accounts, and make transfers within the same bank and to third parties.
• Mobile Payment: This is one of the most common, fastest, and most secure payment options available to users of the national banking system today. The funds are credited immediately at businesses or to third parties. It can be done from the app installed on mobile phones or from a desktop computer.
• Scheduled transactions: It is important to remember that scheduled payments in advance ensure transactions, avoiding delays, considering that, due to the holiday, the funds are credited on the next business day. Planning ahead helps avoid service interruptions and other inconveniences or penalties.
• ATMs: Along with point-of-sale terminals, ATMs are the preferred option for everyday transactions such as card payments and cash withdrawals.

M.Pino

With information from national media and social networks

(Reference image source: Cova Software on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Monday, May 18th will be a bank holiday apareció primero en Bitfinance.

Ecuador is currently suffering the consequences of the gasoline price increase that went into effect on Tuesday, May 12, leading to fuel shortages and long lines at service stations.

The shortage of premium gasoline and diesel is critic, a situation that has overwhelmed service stations in Quito, the capital, as well as in the country’s main cities.

Sources indicate that “the emergency originated after critical failures at the Esmeraldas Refinery, the nation’s most important processing plant, which has paralyzed the regular distribution of fuels.”

As has happened in other countries, the situation is forcing citizens to wait in lines for hours before being able to fill up their vehicles, “while Petroecuador authorities try to manage the accumulated deficit in national distribution.”

The increase in the price of extra gasoline, effective Tuesday, May 12, indicates that “the price per gallon will rise from the current $3 to an estimated range between $3.15 and $3.17.” Public outcry was swift, “as it occurs amidst the worst supply crisis of the last decade.”

According to energy sector experts, the full normalization of service could be delayed until June 9 due to the complex repairs needed at the Esmeraldas Refinery, in addition to “the logistics required to cover the inventory deficit.”

M.Pino

Source: radiomundial

(Reference image source: Gene Gallin on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Fuel shortage hits Ecuador consumers apareció primero en Bitfinance.

Brazilian company Embraer, the world’s third-largest aircraft manufacturer, signed an agreement with Bharat Forge Limited of India to strengthen its presence in Asia, but above all, to guarantee the supply of forged materials from the new supplier.

Bharat Forge Limited “will be integrated into the Brazilian company’s global network of forged material suppliers.”

In this regard, the Indian firm explained that it “will supply materials for components of landing systems for Embraer’s commercial and military aircraft.”

For his part, Roberto Chaves, Embraer’s Executive Vice President of Global Supply and Production Chain, emphasized that this commercial alliance is part of the company’s national supplier diversification strategy, aimed at strengthening supply chain resilience.

M.Pino

Source: spanish.news.cn

(Reference image source: Ryuta on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Brazilian Embraer signs strategic agreement with India apareció primero en Bitfinance.

Apple and Intel reached a preliminary agreement, after a year of negotiations, for the manufacture of chips for some Apple devices.

It is not yet known which Apple products would be included in the agreement. However, the announcement “represents a significant move for Intel Foundry, the division with which Intel seeks to manufacture both its own chips and third-party designs.”

According to The Wall Street Journal, the agreement between the two companies comes under pressure from the Trump Administration. The newspaper notes that “last summer, the government converted nearly $9 billion in federal aid to Intel into a 10 % equity stake. It then used that support to attract strategic customers to the company.”

In this scenario, Apple would have been one of the priority targets of that industrial strategy. “The Cupertino company relies on TSMC to manufacture the chips it designs for iPhones, iPads, and Macs.” Faced with high demand for these components from Nvidia, Apple is seeking alternatives to TSMC, while Intel is trying to strengthen its foundry business.

M.Pino

Source: geeknetic

(Reference image source: BoliviaInteligente on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Apple signs an agreement with Intel to manufacture chips for future devices apareció primero en Bitfinance.

The United States government announced to the media this Sunday, May 10, that it will suspend the gasoline tax as relief from the price increases resulting from the Iran trade war.

President Donald Trump said that all necessary measures will be taken to reduce the impact of this situation on citizens.

As is known, the federal taxes on gasoline are 18.4 cents per gallon and 24.4 cents per gallon for diesel.

A large percentage of Americans have already had to cut back on their purchases and restructure their vehicle use to cope with the rising price of gasoline.

According to CBS, the temporary suspension of the tax would cost the government $500 million per week.

M.Pino

With information from international media

(Reference image source: Ali Mkumbwa on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada The United States to suspend gasoline tax apareció primero en Bitfinance.