With the Venezuelan economy worsening and residents of Caracas unable to buy diapers or even toilet paper due to foreign-exchange shortages, how much longer will Venezuela be able to subsidize cheap oil for its political allies throughout the Caribbean and Central America.
WASHINGTON — One year after Nicolás Maduro’s election as president of Venezuela — in a voting process the opposition claims was rigged and illegal — the hand-picked successor to the late populist Hugo Chávez faces a country in chaos.
Economic difficulties in Curaçao — the largest Dutch-speaking island in the recently dissolved Netherlands Antilles confederation — as well as political uncertainty in nearby Venezuela, are affecting retailers ahead of a planned hike in the country’s sales tax on luxury products such as perfumes, jewelery and electronics from 6 percent to 9 percent.
Betteroads Asphalt Corp. and sister subsidiary Betterrecycling have filed a civil suit against Venezuelan company Arenera de Venezuela Compañía Anónima (Arevenca), as well as several of its subsidiaries and its executives, seeking $13.8 million in damages over an aborted transaction the plaintiff claims was fraudulent from the start.
In an effort to boost awareness about investment opportunities in Puerto Rico, the Economic Development and Commerce Department and the Venezuelan Association of Entrepreneurs, Executives and Professionals presented before a large group of Venezuelan executives the “Puerto Rico: Investment Opportunities” seminar, focusing on the manufacturing and banking sectors as those with the greatest economic potential.
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