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☆ How Venezuela’s election could upend the geopolitics of the Americas
▼ + stars: | 2024-07-23 | by ( Stefano Pozzebon | ) edition.cnn.com time to read: +6 min

Caracas CNN —It would be easy to dismiss this Sunday’s presidential election in Venezuela as a fait accompli. The opposition campaign has re-energized its bases, and the candidature of Edmundo González has attracted widespread support in Venezuela and abroad. A chance to rebuild Venezuela’s economic power“On the ballot is how long it’ll take to fix Venezuela’s economy,” said Asdrubal Oliveros, founder of Caracas firm Ecoanalitica, in his weekly podcast on July 8. Once the fifth-largest economy in Latin America, today Venezuela’s economy has shrunk to the equivalent of a medium-sized city, smaller than say, Milwaukee, according to data from the IMF. As Venezuela’s economy has crumbled, around eight million Venezuelans have already fled their country, many of them scattered across South America.

Persons: Nicolas Maduro, ”, –, Laboratorio de Paz, Edmundo González, Asdrubal Oliveros, Andres, Maduro, Edmundo Gonzalez, Maria Corina Machado, Gabriela Oraa, Gonzalez, Consultores, Putin, Xi Jinping, who’s, “, Donald Trump Organizations: Caracas CNN —, Laboratorio, IMF, Andres Bello Catholic University, Central University of Venezuela, of American, World Bank, Inter, American Development Bank, Supreme, CNN Locations: Caracas, Venezuela, Ecoanalitica, Latin America, Milwaukee, AFP, United States, Americas, South America, Venezuelan, America, China, Iran, Russia, Miami, Cuba, Maduro, of American States, Mercosur, Algiers, Brussels, Buenos Aires, Spanish, Washington, Brexit, neofascism, Europe, India, Turkey, Philippines

☆ David Del Tredici, Who Set ‘Alice’ to Music, Dies at 86
▼ + stars: | 2023-11-18 | by ( Allan Kozinn | ) www.nytimes.com time to read: +2 min

David began his piano studies when he was 11 and was 16 when he gave his first public performance, in San Francisco in 1954. By the time he was 18, he had won a handful of scholarships and awards, including the $5,000 John E. Kimber Prize, in 1955, which covered his piano studies for several years. “He yelled at me and was very severe, and I didn’t realize, coming from California, that all he really was, was a New Yorker,” Mr. Del Tredici told American Public Media in 2002. Mr. Milhaud was encouraging, and when Mr. Del Tredici returned to Berkeley, he enrolled in a composition class taught by Seymour Shifrin. He later pointed out that he had never been composer of 12-tone music, the radical departure from traditional tonality pioneered by Arnold Schoenberg.

Persons: David, John E, Kimber, Leonard Shure, ” Mr, Del Tredici, “, ‘, ”, Darius Milhaud, Milhaud, Seymour Shifrin, La Monte Young, Terry Riley, Pauline Oliveros, Earl Kim, Roger Sessions, Arnold Schoenberg Organizations: University of California, Aspen Music Festival, School, New Yorker, American Public Media, La, Princeton University, Times Locations: San Francisco, Berkeley, California, New, La Monte

☆ Economists fear major disruption if the Israel-Hamas conflict is not contained
▼ + stars: | 2023-10-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

ReutersAny possible escalation of the Israel-Hamas war poses a major risk to the global economy, driving up energy prices and disrupting key trade routes, economists have warned. Israel's subsequent bombardment of Gaza in a bid to eliminate Hamas has increased the risk of a spillover to the wider Middle East region. The events in recent days have deepened the greatest fear among economists, that the conflict engulfs the region and begins to pose a long-term threat to global energy and trade infrastructure. Back then oil prices gained 30% in a matter of two weeks before settling at around 15% above pre-war levels," said J. Safra Sarasin Equity Strategist Wolf von Rotberg. "You choke off those points and you create major disruption not just to oil prices, but the whole supply chain of the world for energy and other goods as well."

Persons: Israel's, Isaac Herzog, Pat Thaker, Thaker, Brent, J . Safra Sarasin, J, Wolf von Rotberg, Elijah Oliveros, Rosen, Oliveros, Paul Gruenwald, Gruenwald Organizations: Hamas, Reuters, Palestinian, Lebanese, Hezbollah, Economist Intelligence Unit, CNBC, Fed, ECB, West Texas, J ., Safra Sarasin Equity Locations: Israel, Palestinian, Gaza, Lebanon, East, Africa, Saudi, Ukraine, Europe, Iran, Tehran, Saudi Arabia, Suez, Persian, Hormuz, U.S, Chile, Turkey, Thailand, Philippines, India, Egypt

Investors arrive to the election looking at an economy in recession as a crippling drought hit the key agricultural sector. The gap to the official rate is above 150%. On the line is the survival of the country's $43 billion program with the International Monetary Fund and the possibility that Argentina defaults on its debt for a 10th time. "Dollarization would not cure the main issue in Argentina, which is a really large fiscal problem." "Debt does not need to be an immediate priority," said Khan, who doesn't expect dollarization to top the near-term list either.

Persons: Patricia Bullrich, Martin Cossarini, Javier Milei, Sergio Massa, Alejandro di Bernardo, Bernardo, Milei, Massa, Gabriel Rubinstein, Elijah Oliveros, Rosen, Zulfi Ali, Shamaila Khan, Khan, Hans Humes, Humes, Rodrigo Campos, Karin Strohecker, Susan Fenton Organizations: el Cambio, REUTERS, NEW, International Monetary Fund, Jupiter Asset, Bullrich, WE, JPMorgan, China, Institute of International Finance, IMF, America, PGIM, Oxford Economics, Reuters, Emerging Markets, Asia Pacific, UBS Asset Management, Massa, Greylock Capital Management, Thomson Locations: Buenos Aires, Argentina, Washington

The ninth Women's World Cup, which kicks off on July 20, is expected to attract the largest television audience in the history of women's soccer and FIFA will pay $30,000 directly to each participating player. In Argentina, the big local teams do not always open the doors of their stadiums for women's soccer matches, which are played at smaller venues. The South American Soccer Confederation (CONMEBOL)recognizes the disparity between men's and women's soccer and said recently it was taking steps to reduce it. Invigorated by Argentina's qualification for a fourth Women's World Cup, fans hope that progress into the knockout stage will generate more support for the sport. In women's soccer, everything is more difficult," she said.

Persons: Julieta Cruz, UAI Urquiza, Mariana Nedelcu, Lionel Messi, Messi, Diego Maradona, Estefania, Yamila Rodriguez, Laurina, Oliveros, Laura Fortunato, Fortunato, Martina Borgatello, Jacinta, Borgatello, Lucila Sigal, Anna, Catherine Brigida, Daniela Desantis, Nick Mulvenney, Peter Rutherford Organizations: Boca, Libertadores, America, REUTERS, Boca Juniors, soccer, FIFA, South American Soccer Confederation, CONMEBOL, women's, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Argentine, Australia, New Zealand, Italy, Sweden, South Africa, Albiceleste, Paraguay

Instead, Gomez Cabrera has to juggle a part-time nannying job beside strenuous practices. Now, Santino runs girls’ soccer program La Nuestra in the Villa 31, where Gomez Cabrera has played for nearly a decade. Becoming a soccer star is a common dream for boys and girls alike where Pereira grew up. "How can we realize our dream to become top players if they don't give us a chance?" Oliveros works part-time as a girls' soccer instructor.

Persons: Carla Carniel, Camila Lujan Gomez Cabrera, Gomez Cabrera, Maradona, Pele, Monica Santino, Santino, Christiane Rozeira, Gabrielle Cardoso, Paola Genes, it's, Genes, Nicole Pereira, Pereira, Laurina Oliveros, Oliveros, Lucila Sigal, Anna, Catherine Brigida, Daniela Desantis, Lucinda Elliott, Leandro Benassatto, Sebastian Rocandio, Christian Radnedge Organizations: REUTERS, Buenos Aires's Villa, Villa, Belgrano, SOUTH, Olimpia, National Cancer, Rocinha Soccer, Argentina women's, Argentina's Boca Juniors, Thomson Locations: Sao Paulo, Brazil, Carla Carniel BUENOS AIRES, Buenos, South America's, Buenos Aires, Nuestra, South America, Paraguay, Rio de Janeiro, United States, Argentina, Uruguay

☆ Chevron export earnings boost supply of US dollars in Venezuela -sources
▼ + stars: | 2023-05-02 | by ( Mayela Armas | ) www.reuters.com time to read: +3 min

Companies Chevron Corp FollowCARACAS, May 2 (Reuters) - Some of U.S. oil major Chevron Corp's (CVX.N) export earnings from its Venezuela operations are bolstering supplies of U.S. dollars in the South American country, three sources with knowledge of the matter told Reuters. Chevron operates in Venezuela, which is under U.S. sanctions, with special authorization from Washington. The central bank also sells dollars, mostly the product of oil sales. According to local consulting firm Sintesis Financiera, the central bank offers between $40 million and $50 million per week. The central bank did not respond to requests for comment.

Resurgent inflation is devouring the income of Venezuelans - even the relatively privileged ones like Mendoza who have access to U.S. dollars. That is leaving them hungry and struggling to buy food and medicine, they told Reuters. "Neither dollars or bolivars are enough. Many Venezuelans were left to scour through garbage to find food, and millions fled the country to build new lives across South America and beyond. "Whether you pay in bolivars or dollars it is not enough," Lochunga said, sitting in front of his stall.

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