Expropriation

all the facts and news in Venezuela on Expropriation and how it influences all decisions made by Hugo Chavez as president implications for Expropriation of the Venezuelan people

Nov
9
2012
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In Case You Missed It… Articles Roundup Week of 11/9/12

ABN 22 03 2009 chavez giordani In Case You Missed It… Articles Roundup Week of 11/9/12

Courtesy of: ABN

After Chávez’s reelection, the Venezuelan opposition seeks electoral victory in the upcoming gubernatorial elections; Venezuela is expected to devalue the Bolivar next year as inflation rises 1.7 percent in October; and according to the National Institute of Statistics, Venezuela’s employment rate has declined from 2011. Meanwhile, Venezuela’s agricultural imports rise to 99.6 percent in one year as the government is unable to meet domestic demand; on Thursday, Venezuelan Finance Minister Jorge Giordani announced the government’s plan to design a new financial and budgetary structure to deepen socialism within the country; and Chávez is criticized for ignoring the indigenous people he once championed. Additionally, Venezuelan Central Bank aid to PDVSA reaches $29 billion and arbitration rulings are expected in late 2013 in the multi-billion dollar claims against the Chávez government for its expropriation of both Exxon Mobil and Conono. Lastly, Al Jazeera reports without Chávez, Venezuela would have pursued a more level-headed approach toward Syria.

Venezuela opposition seeks morale boost, Financial Times

The Venezuelan government and its supporters may still feel euphoric. But Hugo Chávez’s triumph in October’s presidential election has left the opposition and swaths of the country in gloom, wondering if there will ever be an end to “21st century socialism”.

Venezuela: Chávez contemplates bolívar devaluation, EuroMoney

PDVSA, Venezuela’s state-owned oil company, might issue up to $3 billion in bonds before the end of the year and the country is expected to devalue the bolívar next year, according to bankers. This follows the October 7 re-election of Hugo Chávez as president for a third term, obtaining 54.4% of the vote, 9.5% ahead of the opposition nominee, Henrique Capriles Radonski

UPDATE 1-Venezuela October inflation rises 1.7 pct, Reuters

Nov 6 (Reuters) – Venezuela’s consumer prices rose 1.7 percent in October, compared with 1.6 percent the previous month, the central bank said on Tuesday. Twelve-month inflation to October was 17.9 percent, while the accumulated rise in the first 10 months of 2012 was 13.4 percent.

Formal employment declines in Venezuela, El Universal

Despite data recorded by the National Institute of Statistics (INE), Venezuela’s employment rate slumped in the first half of 2012 compared to 2011, according to a report compiled by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO).

Agricultural imports spike to 99.6% in one year, El Universal

Minister of Food Carlos Osorio told El Universal last July that the priority of the Venezuelan government is to ensure ready access to foodstuffs wherever they come, “even imported.” Official numbers show that such strategy is in full swing.

Venezuelan gov’t to create new financial structure, El Universal

Venezuelan Finance Minister Jorge Giordani has asserted that in the next six-year presidential term a new financial and budgetary structure will be designed.

Venezuelan President Hugo Chávez Turning His Back on the Indigenous Peoples He Once Championed, Indian Country Today Media Network

It was a Friday in early July when Venezuelan authorities reportedly barged into the Caracas apartment of Ana Maria Abreu, a doctor who had been working in the presidential palace under Chávez since 2000. She was accused of leaking political or military state secrets, although little more is known.

Central bank assistance to state-run Pdvsa stands at USD 29 billion, El Universal

Financial assistance to state-owned oil company Pdvsa by the Central Bank of Venezuela (BCV) continues its upward trend. BCV’s data shows that by the end of October, the financial institution’s aid to the oil company increased by 79% over the last 12 months.

Exclusive: Venezuela sees Exxon, Conoco arbitration rulings in late 2013, Reuters

Venezuela expects international arbitration rulings by late 2013 in multi-billion-dollar claims by Exxon Mobil and ConocoPhillips over nationalizations by President Hugo Chavez’s government, the oil minister said.

How Hugo Chavez botched the Arab Spring, AlJazeera

Nearly two years ago, as unrest spread throughout the Arab world, many wondered what trajectory future revolutions might take. As we now know, Islamists were able to wrest control and capitalise on the Arab Spring and later shaped much of the political and social agenda to their liking.

 
Nov
2
2012
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In Case You Missed It… Articles Roundup Week of 11/2/12

rangel silva1 In Case You Missed It… Articles Roundup Week of 11/2/12

Courtesy of: Últimas Noticias

As the Giants’ celebrate their win in the World Series, Venezuelans celebrate Pablo Sandoval as the first Venezuelan to win MVP. Meanwhile, Venezuela’s economy deteriorates further as Chávez’s government prepares to issue new debt. Expropriations remain in the news while the Venezuelan government announces it will pay for the expropriated steel company Sidetur. On Wednesday, there was another power outage in northwest Venezuela. Chávez also announced that his current defense minister, Henry Rangel Silva, will be seeking election as governor in Trujillo. Venezuela loses trade advantages with the EU in 2014. Raul Castro received the Venezuelan delegation visiting Cuba to discuss further economic aid from Venezuela to Cuba. Meanwhile, food and consumer imports soar in Venezuela as the domestic industries are unable to meet demand. Amidst recent deterioration of oil refineries, Venezuela’s sales of oil byproducts to the United States have substantially declined. Lastly, the CNE authorizes changes in the ballots and voting regulations for Venezuela’s gubernatorial elections, arguing that the changes were made in order to “make the information easier for voters.”

World Series is a showcase for Venezuela, where baseball’s a passion and talent flows like oil, Fox News

On a ragged baseball diamond, its grass tall and infield dirt pockmarked, nearly 200 boys practice for hours every day. Many of them are inspired by the example of Detroit Tigers slugger Miguel Cabrera, who learned the game on this very field.

Venezuela: a mega bond in the works?, Financial Times

With Venezuela’s presidential elections now well behind us, speculation has been growing on Wall Street that the government may issue new debt soon.

Venezuela: Minister Henry Rangel eyes state governorship, BBC

Mr Chavez said the navy commander, Adm Diego Molera, would be his replacement. Gen Rangel, a close associate of the president, will run for the governorship of Trujillo in state elections on 16 December.

Venezuela Official: Gov’t to Pay for Steel Maker, ABC News

Venezuela’s government will pay a fair price for an expropriated steel company taken over by the state, a government official said Wednesday.

Blackout hits northwest Venezuela, Fox News Latino

A large power outage on Wednesday affected two northwestern Venezuelan states, Electrical Energy Minister Hector Navarro said.

Venezuela sheds trade advantages at the EU in 2014, El Universal

Argentina, Brazil, Cuba, Venezuela and Uruguay are in the list of countries that will stop being the recipients in 2014 of trade incentives by the European Union (EU), reported on Wednesday the community executive board.

Raul Castro Receives Venezuelan Delegation Visiting Cuba, Prensa Latina

President Raul Castro received Venezuela”s Vice President Rafael Ramirez, who is leading a high-level delegation that is visiting the island.

Imports feed consumption in Venezuela, El Universal

The manufacturing sector in Venezuela stills faces difficulties to meet domestic demand, particularly that of food and consumer goods.

Venezuela’s oil byproducts sales to the US drop 43%, El Universal

Amidst deterioration of refineries in Venezuela and new commitments to ship crude oil to allied countries, such as China, Venezuela’s sales of oil byproducts to the United States have substantially declined.

CNE: High court ruling on migrations in register of voters must be waited, El Universal

Sandra Oblitas, the Vice-President of the Venezuelan National Electoral Council (CNE), reported that the special regulations for the gubernatorial elections of December 16 were passed on Wednesday.

 
Oct
25
2012
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Venezuelan Assembly Considers New Media-Control Law

hugo chavez Venezuelan Assembly Considers New Media Control Law

Courtesy of: Reuters

Having secured reelection, Hugo Chávez has signaled his intention to pivot back to his most extreme socialist policies. After presenting a more moderate face as a candidate, Chávez has pledged to deepen his socialist revolution as president. The pace of expropriations slowed in the politically crucial months before Oct. 7, but now the administration promises to begin nationalizing private companies with renewed vigor. Just weeks after his victory, even the remaining trace of Venezuela’s independent media, already one of the most harassed, has been put on notice.

The Chávez-friendly National Assembly appears set to approve legislation that extends the government’s strictest information-control requirements to cable TV. Previously the most severe restrictions – enshrined in the Ley Resorte law – applied only to broadcast television stations. These entities were required to abide by content requirements and to air Chávez’s “cadena” addresses at a moment’s notice. The Assembly’s proposed law would extend these restrictions to Venezuela’s private cable stations as well.

This legislation, which includes the Orwellian proposal to ensure “the enforcement of cultural information,” could deal a blow to Venezuela’s scant remaining free media. In addition to forcing stations to broadcast cadenas, the law would also limit the amount of “foreign” content aired on Venezuelan cable stations, infringing on Venezuelan TV viewers’ ability to get news or commentary from sources outside the country. Carabobo state Rep. Miguel Cocchiola, a member of the opposition, calls the law “a tool [for the government] to enhance communication hegemony.”

During the election, Chávez’s abuse of his cadena power was well documented, as it allowed him to saturate Venezuela with campaign propaganda and interrupt coverage of Capriles campaign events. Meanwhile, the Capriles campaign was forced to pay for airtime, while many noted that compiling the resources needed to match the reach of the state media would have been an impossible task. According to the watchdog group Transparency International, Chávez used cadenas for more than 87 hours during the campaign.

Such attacks on free media are nothing new for Chávez’s “21st Century Socialism,” which militates against the free economy and free media alike. From the closure of the popular network RCTV to the constant fines and sanctions levied against Globovision, Chávez has systematically censored, harassed or otherwise silenced privately-owned media outlets he deems critical of his persona or government.

Multiple watchdog groups have affirmed that independent media remain an endangered species in the country. Since 2005, defamation of the president has been punishable by six to 30 months in prison. Mr. Chávez has revoked the broadcast license of at least 240 radio stations – nearly 50 percent of all radio stations in the country – perceived as critical of the government. Today, Chávez controls at least two national radio networks, six television channels, 72 regional television stations, four newspapers and over 600 radio stations across the country.

As expected, news coverage on government-owned television is far from balanced. According to a report from the Wall Street Journal, during the last week of September – just days before the Oct. 7 election – government news channel VTV dedicated 18 hours of coverage to Chávez. Its tally for Mr. Capriles was 30 minutes.