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Venezuelan-Iranian Car Company Releases First Models

As a product of economic agreements between Venezuela and Iran, the joint car company Venirauto released its first 300 units at an event in Caracas yesterday.

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Venezuela Takes Full Control over Oil Production

Venezuela’s state oil company PDVSA announced that it took full control over all of the country’s oil production on Sunday, including two fields operated by ConocoPhillips and ExxonMobil that resisted the nationalization process.

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Venezuela to Continue With Anti-Inflationary Measures

The Venezuelan government will continue its anti-inflationary measures in the second half of 2007, according to statements by Finance Minister Rodrigo Cabezas Sunday.

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Venezuela's Foreign Minister Accuses Departing U.S. Ambassador of Destabilization

Venezuela's Foreign Minister Nicolas Maduro, speaking at Venezuela's Independence Day celebrations yesterday, accused the outgoing U.S. ambassador of carrying out a "destabilizing" mission in Venezuela.

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President Chavez Announces "Petrochemical Revolution"

Venezuelan President Hugo Chavez announced the launch of a "Petrochemical Revolution" for Venezuela yesterday, emphasizing that it is vital for the diversification of the economy and for national development.

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Venezuela Sets Deadline for Mercosur Entry

In reaction to the delays in the admission of Venezuela to Mercosur, Venezuela’s President Hugo Chavez said that if his country is not admitted in the next three months, he would withdraw Venezuela’s effort to become a full member.

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Venezuela and Iran Increase Economic Integration

Venezuelan President Hugo Chavez met his Iranian counterpart, President Mahmud Ahmadinejad, in the Islamic Republic of Iran this weekend, where he signed at least 17 agreements and formalized the construction a new joint petrochemical complex on the Iranian coast.

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Venezuela Strengthens Ties to Russia and Belarus with Chavez Visit

Venezuelan President Hugo Chavez arrived in Moscow Thursday and in Minsk, the capital of Belarus, Friday as part of his three-nation tour of Russia, Belarus, and Iran that began on Wednesday.

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Four Oil Companies Sign Agreements with Venezuela, Two Pull Out

Exxon Mobil and ConocoPhillips have decided the profits are not worth the risk of staying in Venezuela and are writing off multibillion-dollar investments in the South American country. But other major oil companies - Chevron, BP, Total, and Statoil - have accepted the increasingly tough terms posed by President Hugo Chavez's government.

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The Americas Soccer Cup Begins, With Demonstrations in Venezuela

The South American soccer tournament known as America's Cup, or Copa America, began yesterday in Venezuela with a colorful opening ceremony in the city of San Cristobal. Meanwhile, opposition journalists and students marched in Caracas Wednesday to mark one-month since the private television channel RCTV went off the air.

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Venezuelan Constitutional Reform to Include Unlimited Reelection

Venezuelan President Hugo Chavez announced, in a televised interview last Sunday, several proposals to reform the Venezuelan Constitution. Among the new reforms proposed is to remove the limit on the number of reelections for the president of the republic as well as changes in the structure of the armed forces.

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United Socialist Party of Venezuela Enters New Phase

The formation of the new United Socialist Party of Venezuela (PSUV) entered its second phase this past weekend as officials and party militants met for the National Meeting of Candidates for PSUV Militants in Caracas. Record numbers of Venezuelans have registered to be members of the new party.

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Minister Says U.S. Is Escalating Media War against Venezuela

Venezuela’s Minister of Communication and Information, William Lara, condemned the a decision to increase funding for Voice of America, so it would boost its broadcasts into Venezuela.

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Venezuelan Unemployment Drops to New Lows

Venezuela’s unemployment rate dropped to a new low in May, to 8.0%, the lowest level in over a decade, reported the country’s National Institute of Statistic yesterday.

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Venezuela's Chavez Calls for Greater Role for Communal Councils

Venezuelan President Hugo Chavez outlined plans to organize his nation's 18,000 communal councils, diagramming the way state, local, workers', farmers' and student groups should interact to ``propel revolution.''

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