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News: Economy

Reports of Attacks Against Food Distribution Trucks Increase in Venezuela

A state operated food distribution truck in Catia, Caracas. (Bloomberg)

Local community councils and media have reported networks of re-sellers and gangs have orchestrated more than a dozen attacks and robberies in the last 90 days against food distribution trucks.

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Venezuela Backs Worker Takeover of Kimberley Clark as Citibank Moves to Close BCV Account

Labor Minister Oswaldo Vera signs a workers' petition to reopen the factory under worker control. (@Carluisv-@rogertradicio

Maduro green lighted a request by workers to occupy a factory owned by US consumer products giant Kimberly Clark after the latter shut its doors, firing nearly 1000 workers. 

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Maduro Creates New Supply Mission as Fresh Imports Arrive from Trinidad & Tobago

Venezuelan President Nicolas Maduro speaking at a council of ministers meeting on Monday. (Prensa Presidencial)

The president has announced a new production and distribution program for food and medicine tasked with addressing the nation’s chronic scarcities.

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China Denies Allegations of Dialogue with Opposition

Deputy Director of Foreign Ministry Information Department Hua Chunying (South China Morning Post).

The Chinese government dismissed allegations that they met with the opposition after a Financial Times’ recent report stated otherwise.


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Venezuela Relaxes Forex Ceiling as Oil Prices Remain Stable

President Nicolas Maduro has long vowed to stamp out Venezuela's currency black market, which he has argued has contributed

Venezuela's official currency exchange rate is gaining ground on the country's thriving dollar black market, according to data released by the central bank Thursday.

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Over 400 Arrested in Cumana Lootings, Authorities Finger Opposition

Residents looted dozens of commercial outlets in Cumana on Tuesday. (Twitter)

Venezuelan authorities arrested over 400 during widespread looting in the eastern coastal city of Cumana on Tuesday. 

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Venezuela’s Maduro Creates New Ministry for the Development of Ecological Mining

A promotional advertisement for the Orinoco Mining Arch from Venezuela’s Petroleum and Mining Ministry. “The Mining Arch wil

The new institution will be in charge of designing the state’s mining policy, as well as ensuring respect for the environment and human rights.


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Venezuelan Social Movements Converge on Supreme Court, Demand Injunction Against Mining Arc

Banners read left to right: "Impunity will not happen! Sabino Lives!", "No to the Mining Arc! Water is more valua

Grassroots activists and ex-government officials submitted a lawsuit demanding that the high court halt a contentious mega-mining project on constitutional grounds. 

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Venezuelan Conglomerate to Continue Beer Production as Workers Reach Agreement with Coca-Cola

Workers in Zulia have secured their rights and benefits as Coca-Cola closes plant (Bloomberg).

Polar announced that their plants will produce beer throughout the year while Coca-Cola workers will continue to receive benefits despite paralyzed plant production.

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Rich Eating Well in Venezuela, Basque Executive Shows

Otxotorena showing evidence of plenty of food in rich areas of Caracas (Agustin Otxotorena/Facebook).
To prove his relatives in Spain wrong, on executive published a series of photographs of fully-stocked markets in upper class neighborhoods in Caracas.

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Venezuela Negotiates “Historic” Deals with Trinidad & Tobago

Venezuelan President Nicolas Maduro and Trinidadian Prime Minister Keith Rowley shake hands Monday after agreeing a series of bi

Venezuelan President Nicolas Maduro closed a deal for a series of cross-border initiatives in energy, security, commerce and food relief whilst on a whirlwind visit to the Caribbean island. 

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UNASUR Economic Team Gets to Work in Venezuela, UN Urges Dialogue

The UNASUR team will tackle Venezuela’s economic problems from a Bolivarian perspective (Telesur).

The regional team came together last week and is tasked with helping the Venezuelan government deal with the ongoing economic crisis. 

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Venezuelans March for May Day as Maduro Raises Minimum Wage by 30%

"May of Workers' Rebellion". (Jonas Holldack/Venezuelanalysis)

Thousands took to the streets of Caracas this Sunday to commemorate International Workers Day and manifest their support for the beleaguered Chavista government of President Nicolas Maduro amidst a severe recession and a possible recall referendum.


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Venezuelan Conglomerate to Halt Beer Production

Polar supplies 80% of the beer consumed in Venezuela (Reuters).

Venezuela's largest private food company Polar announced it will cease beer production in less than two weeks, alleging inaccessibility to raw materials.  


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Venezuelan Oil Minister: US Sabotaged Doha Meeting

Del Pino said that Venezuela would keep working to broker an international oil market stabilisation deal despite Sunday’s outc

Venezuelan Oil Minister Euologio del Pino has accused the US government of deliberately scuppering the efforts of major oil-producing countries to put a cap on global production levels amidst a historic slump in oil prices. 


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