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CNN —Venezuelan authorities are investigating opposition leader Maria Corina Machado for alleged treason after she expressed support for a US bipartisan bill that seeks to block Washington from doing business with any entity that has commercial ties with the government of Venezuela’s President Nicolas Maduro. The US bill – introduced by Florida Reps. Mike Waltz (R) and Debbie Wasserman Schultz (D) – was passed on Monday by the House of Representatives. During a televised event on Wednesday, Maduro criticized the bill and said that the opposition’s actions against him will not be successful. Even after Venezuela’s electoral and judicial authorities announced Maduro’s victory, they have not shown detailed results and electoral records to support it, prompting anger and concern across the country and abroad. Several countries, including the US, have formally recognized Gonzalez as the country’s president-elect following the disputed election.

Persons: Maria Corina Machado, Nicolas Maduro, ” Machado, Machado, –, Mike Waltz, Debbie Wasserman Schultz, Waltz, Donald Trump, Machado “, Maduro, ”, “ I’m, ” Walz, who’s, Edmundo Gonzalez, Gonzalez Organizations: CNN, Venezuelan, General’s, Florida Locations: Washington, Venezuelan, Venezuela’s, BOLIVAR, Venezuela

☆ 'Fat Leonard,' Navy contractor behind bribery scheme, sentenced to 15 years
▼ + stars: | 2024-11-05 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

SAN DIEGO — Former military defense contractor Leonard “Fat Leonard” Francis was sentenced Tuesday to 15 years in prison for masterminding a decade-long bribery scheme that swept up dozens of U.S. Navy officers, federal prosecutors said. The Malaysian defense contractor was a key contact for U.S. Navy ships at ports across Asia for more than two decades. He pleaded guilty in 2015, admitting that he had offered more than $500,000 in cash bribes to Navy officials, defense contractors and others. While awaiting sentencing, Francis was hospitalized and treated for renal cancer and other medical issues. The felony convictions of four former Navy officers were vacated following allegations of prosecutorial misconduct.

Persons: Leonard “, Leonard ” Francis, Janis L, Sammartino, Francis, Prosecutors, Leonard’s, Leonard, “ Leonard Francis, Tara McGrath, ” Prosecutors, Francis ’, overcharge, snipped, — Organizations: DIEGO, U.S . Navy, U.S, Navy, Attorney’s, . Naval, ”, Glenn Defense Marine Asia Ltd, Prosecutors, Simon Bolivar International Locations: masterminding, Venezuela, ” U.S, Singapore, Malaysian, Asia, Kobe, Thailand, Philippines, Southeast Asia, San Diego, Mexico, Cuba, Caracas, Russia

☆ ‘Fat Leonard,’ Navy contractor behind one of the military’s biggest scandals, sentenced to 15 years
▼ + stars: | 2024-11-05 | by ( Associated Press | ) edition.cnn.com time to read: +4 min

San Diego AP —Former military defense contractor Leonard “Fat Leonard” Francis was sentenced Tuesday to 15 years in prison for masterminding a decade-long bribery scheme that swept up dozens of U.S. Navy officers, federal prosecutors said. The Malaysian defense contractor was a key contact for U.S. Navy ships at ports across Asia for more than two decades. He pleaded guilty in 2015, admitting that he had offered more than $500,000 in cash bribes to Navy officials, defense contractors and others. While awaiting sentencing, Francis was hospitalized and treated for renal cancer and other medical issues. The felony convictions of four former Navy officers were vacated following allegations of prosecutorial misconduct.

Persons: Leonard “, Leonard ” Francis, Janis L, Sammartino, Francis, Prosecutors, Leonard’s, Leonard, “ Leonard Francis, Tara McGrath, ” Prosecutors, Francis ’, overcharge, snipped, — Organizations: Diego AP, Former, U.S . Navy, U.S, Navy, Attorney’s, . Naval, ”, Glenn Defense Marine Asia Ltd, Prosecutors, Simon Bolivar International Locations: masterminding, Venezuela, ” U.S, Singapore, Malaysian, Asia, Kobe, Thailand, Philippines, Southeast Asia, San Diego, Mexico, Cuba, Caracas, Russia

☆ Beryl regains hurricane strength as it bears down on Texas coast
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: +6 min

Lifeguard Sebastian Gonzales watches over people at the beach as tides rise and clouds loom overhead just before hurricane Beryl is expected to make landfall on Sunday, July 7, 2024 in Galveston. "Life-threatening storm surge, heavy rainfall, and strong winds are ongoing across portions of Texas," the hurricane center said. A hurricane warning is in effect for the Texas coast from Mesquite Bay north to Port Bolivar, the center said. People on the Texas coast boarded up windows and left beach towns under evacuation order. Along the Texas coast, many residents and business owners took the typical storm precautions but also expressed uncertainty about the storm's intensity.

Persons: Sebastian Gonzales, Beryl, we've, Gov, Dan Patrick, Greg Abbott, Port Lavaca, Jimmy, Percy Roberts, Ken Waller, Waller, Roberts, Sargent, Beryl lurked, Hurricane Harvey, Vincent Organizations: National Hurricane Center, Gov, Atlantic, Corpus Christi, Houston, midafternoon, Christi, Federal Emergency Management Agency Locations: Galveston, Texas, Mexico, Caribbean, Matagorda , Texas, Corpus Christi, Mesquite Bay, Port Bolivar, Matagorda Bay, Houston, Beryl's, Arkansas, Port, Baffin Bay, Corpus, Matagorda, Hurricane, Yucatan, Jamaica, Barbados, St, Grenadines, Grenada, Venezuela

☆ La travesía de una familia para llegar a EE. UU. por 8000 kilómetros y 8 países
▼ + stars: | 2024-07-08 | by ( Por Luis Ferré-Sadurní | Juan Arredondo | ) www.nytimes.com time to read: +8 min

Millones de venezolanos como la familia Aguilar Ortega han huido de la miseria económica y la represión política en su país natal mientras la nación se sumía en el caos. La decisión indignó a los críticos que alegan que contradice la imagen de Estados Unidos como un refugio seguro para los vulnerables. Inicialmente, los periodistas conocieron a la familia en Ciudad de México, y luego los alcanzaron en la frontera entre Estados Unidos y México. La dura experiencia sería una prueba para su fortaleza mental y física, tensaría la relación de la pareja, y retaría su compromiso y capacidad para forjarse una nueva vida en Estados Unidos. Aguilar afirma que los fiscales venezolanos distorsionaron los cargos y que él y su amigo no usaron violencia.

☆ 5,000 Miles, 8 Countries: The Path to the U.S. Through One Family’s Eyes
▼ + stars: | 2024-07-08 | by ( Luis Ferré-Sadurní | Juan Arredondo | ) www.nytimes.com time to read: +21 min

With three children and a dog, the Aguilar Ortega family trekked through the jungle, hopped freight trains and toured Times Square. Millions of Venezuelans like the Aguilar Ortega family have fled economic misery and political repression in their homeland as it descended into turmoil. “The kids want to go to New York,” Mr. Aguilar said in Spanish as he stood by his tent in Mexico City. Mr. Aguilar created hiding places for their cash, using toenail clippers to cut small openings into Hayli’s jacket and Josué’s pants. She called Ms. Ortega to check in, and learned of the family’s setup.

Persons: Aguilar Ortega, trekked, Miles, — Hayli, Samuel, Henry Aguilar, Leivy Ortega, Eric Adams, Biden, Aguilar, Ms, Ortega, Donna, ” Mr, ”, COLOMBIA Samuel, Hayli, Nicolás Maduro, It’s, Mr, selfies, “, Josué, Donna meandered, patted, Aguilar Ortegas, Aguilar’s, weren’t, “ It’s, Rafael García, “ Papi, Ortega’s, Floyd Bennett, Simón, Floyd Bennett Field, “ I’ve, I’m, Maria Cardona, ” Ms, Cardona, Amy Swan, Ray Swan, Swan Organizations: New York Times, U.S ., The Times, GAP, MEXICO CITY, Mexico City, Central America, CIUDAD, Times, United, Venezuela’s, Roman Catholic Church, New York, La Guardia Airport, Delta, Roosevelt, Queens, Honda, Facebook Locations: Mexico City, Latin America, Venezuelan, New York City, New York, U.S, United States, Venezuela, “, COLOMBIA, Colombia, Chile, Ecuador, Peru, Panama, la, ”, ” PANAMA, MEXICO, Guatemala, Mexico, earshot, Central, Costa Rica, Nicaragua, Honduras, CIUDAD JUÁREZ, Ciudad Juárez, Texas, Juárez, Mexican, Rio Grande . Texas, Rio Grande, Cuba, Haiti, El Paso , Texas, El Paso, PASO , TEXAS, York, La, Michigan, Santa Claus, Manhattan, Spanish, MANHATTAN, BROOKLYN, Brooklyn, Simón Bolivar, Spain, Jamaica, MIDDLETOWN, CONN, Middletown, Conn, Connecticut

☆ After Outlawing Public Zoos, Costa Rica Relocates Hundreds of Animals
▼ + stars: | 2024-05-15 | by ( Jesus Jiménez | ) www.nytimes.com time to read: +1 min

Costa Rica announced last week that it would close its two remaining state zoos, more than a decade after it passed a law to ban keeping wild animals in government-sponsored captivity but was met with legal blowback. Costa Rica’s Ministry of Environment and Energy said in a statement on Saturday that it would not renew its contract with Fundazoo, a foundation that had run the zoos. The move will close the country’s last two state zoos: the Simón Bolívar Zoo and the Santa Ana Conservation Center. Some of the animals have been in captivity for more than 30 years, the ministry said. Franz Tattenbach, the minister of environment and energy, said on Saturday that Costa Rica would move toward running sanctuaries for animals that cannot return to to the wild.

Persons: Costa Rica, Franz Tattenbach Organizations: Rica’s Ministry of Environment, Energy, Fundazoo, Santa Ana Conservation Center Locations: Costa, Rica’s, Costa Rica

☆ Ukraine was a magnet for foreign fighters. After 2 bruising years, many are disillusioned or dead.
▼ + stars: | 2024-05-11 | by ( Cameron Manley | ) www.businessinsider.com time to read: +9 min

Zelensky's International Legion of Territorial Defense of Ukraine (ILDU) was born, echoing the International Brigades that fought fascism in the Spanish Civil War of the 1930s. According to Ukrainian officials, dozens of Ukrainians were killed and more than 100 foreign volunteers injured, ending their campaigns before they began. AP Photo/Rodrigo Abd, FileUkraine originally said 20,000 foreign volunteers had signed up to fight. That could prove "very enticing" for some foreign volunteers, Bocchese said. AdvertisementAn April 2024 increases payments for Ukrainian volunteers, adds new punishments for draft dodging, and seeks to compel Ukrainian men living abroad to come home.

Persons: —, Volodymyr Zelenskyy, Carl Larson, Marco Bocchese, Rodrigo Abd, Bocchese, Matteo Pugliese, Pugliese, Larson, Oleksandr Shahuri, Zelenskyy, Lukatsky Organizations: Ukraine's, Service, Legion of Territorial Defense of, Brigades, Royal United Services Institute, International Legion, Legion, Webster Vienna Private University, AP, Washington Post, 59th Motorized Brigade, Company, University of Barcelona, Georgian Legion, International, Army, Green Beret, Navy SEAL, State Department, National Guard, Bolivar Battalion, Associated Press Locations: Russia, Ukraine, Legion of Territorial Defense of Ukraine, Spanish, Ukraine's, London, Iraq, Kharkiv, Alabama, Russian, Lviv, Bucha, Kyiv, Austria, Montenegro, Kosovo, India, Latin America, Ukrainian, Lyman, Bolivar, Venezuela, Ecuador, Argentina, Colombia, Venezuelan

☆ Colombia to break diplomatic ties with Israel over actions in Gaza
▼ + stars: | 2024-05-01 | by ( Stefano Pozzebon | Michael Rios | ) edition.cnn.com time to read: +1 min

CNN —Colombia says it will break diplomatic relations with Israel on Thursday over its actions in Gaza. Colombian President Gustavo Petro made the announcement at a rally at the Bolívar Square in Bogotá on Wednesday. Its devastating response has since killed more than 34,000 people, according to the Palestinian health ministry. Colombia's President Gustavo Petro at a rally in Bogota, Colombia, on May 1, 2024. Bolivia cut diplomatic ties with Israel last year, citing “crimes against humanity committed against the Palestinian people” in the wake of Israel’s war with Hamas.

Persons: Gustavo Petro, Petro, ” Israel, ” Katz, Luisa Gonzalez Organizations: CNN, Wednesday, Reuters CNN, Colombian Foreign Ministry, Israel, Hamas Locations: Colombia, Israel, Gaza, Colombian, Bogotá, Bogota, Bolivia

CNN —Dozens are feared to be dead after an illegal gold mine in the Venezuelan town of La Paragua collapsed, according to the town’s mayor Yorgi Arciniega. The mayor estimates dozens of people have been killed, and more are still trapped in the collapsed mine. Egar Colina, a security official in the Bolivar state government, urged caution and said more state officials were trying to reach La Paragua to update the death toll. Bolivar is a forest-covered region that has long been affected by illegal mining for gold and other minerals. La Paragua is less than 40 miles from the park’s borders.

Persons: Yorgi Arciniega, Arciniega, Egar Organizations: CNN, CNN en Espanol, . Relief Locations: Venezuelan, La Paragua, Bolivar, Venezuela, Brazil

Díaz’s parents - Luis Manuel Díaz Jiménez and Cilenis Marulanda — were kidnapped by a unit of the ELN at a gas station by armed men on motorcycles. Marulanda was rescued by police a few hours later, but Díaz’s father was held captive for 12 days by the ELN. Prosecutors said in a statement that Alcires Bolivar was a merchant in La Guajira who had been contacted by a member of the ELN to help him kidnap Díaz’s parents. After the kidnapping, special forces were deployed to search for Díaz’s father in a mountain range that straddles Colombia and Venezuela. The ELN acknowledged the kidnapping, saying it was a mistake and that its top leadership had ordered the father’s release.

Persons: Luis Díaz, Colombia’s, Andrés Alcires Bolívar, Marlon Rafael Brito, Díaz’s, Luis Manuel Díaz Jiménez, Marulanda —, Marulanda, Alcires Bolivar, “, Rafael Brito, Díaz, ELN Organizations: Liverpool, National Liberation Army, Catholic Church, United Nations, Prosecutors, Barrancas Council, national soccer team, Police Locations: BOGOTA, Colombia, Barrancas, La Guajira, Colombia’s, Venezuela

☆ Colombian opposition politicians defeat Petro's coalition in local, regional elections
▼ + stars: | 2023-10-30 | by ( Luis Jaime Acosta | Thomson Reuters | Luis Jaime Has Worked At Reuters For More Than Years. While He Chiefly Covers Colombia'S Armed Conflict | ) www.reuters.com time to read: +2 min

[1/3] Colombian President Gustavo Petro casts his vote during the elections for governors, regional lawmakers and mayors, in Bogota, Colombia October 29, 2023. REUTERS/Vannessa Jimenez Acquire Licensing RightsBOGOTA, Oct 29 (Reuters) - Colombian opposition candidates largely swept elections for mayors, governors and regional lawmakers on Sunday, dealing a defeat to President Gustavo Petro's leftist coalition in votes that analysts called a referendum on his government. Petro congratulated the winning candidates and said he planned to work together. Many of the winning candidates had vowed to improve security and promote projects that will create jobs with private sector support. Although campaigning was marked by deteriorating security and threats to candidates, voting largely proceeded without incident.

Persons: Gustavo Petro, Vannessa Jimenez, Gustavo Petro's, Petro, Gustavo Bolivar, Bolivar, Sergio Guzman, Carlos Fernando Galan, Luis Jaime Acosta, Daina Beth Solomon, Lincoln, Stephen Coates Organizations: Colombian, REUTERS, Rights, New Liberalism Party, Bogota, Registrar's Office, Thomson Locations: Bogota, Colombia, Rights BOGOTA, Colombian, Colombia's, Medellin, Cali

REUTERS/Leonardo Fernandez Viloria/File Photo Acquire Licensing RightsNEW YORK/CARACAS, Oct 19 (Reuters) - Venezuela's sovereign bonds rallied on Thursday, a day after the United States lifted its ban on secondary market trading of some of the country's eurobonds, with investors eyeing a debt restructuring on some $60 billion of defaulted debt. "Prices have almost doubled in the past 24 hours but are still well below the pre-sanctioned levels," said Edward Cowen, CEO of Winterbrook Capital, who has co-invested in a fund to buy Venezuelan debt. Cowen added that a return to Venezuela's regular weighting on global indexes like JPMorgan's would give the prices further support. "I think the market was caught by surprise as the ban on secondary trading of bonds was not expected to be removed this early in the negotiation," said Armando Armenta, senior economist for global economic research at AllianceBernstein. Small funds and investors outside the United States had looked to increase their exposure to Venezuelan bonds on the expectation of debt renegotiations.

Persons: Leonardo Fernandez Viloria, PDVSA, Edward Cowen, Cowen, Armando Armenta, Maria Corina Machado, Rodrigo Campos, Mayela, Marc Jones, Corina Rodriguez, Christina Fincher, Will Dunham Organizations: REUTERS, South, Winterbrook, U.S . Treasury Department, Petroleum, Venezuelan, U.S . State Department, Mayela Armas, Thomson Locations: Bolivar, Caracas, Venezuela, CARACAS, United States, South American, U.S, Venezuela's, Venezuelan, New York, London, Madrid

☆ Decades After Dictatorship, Chile Mounts Search for Hundreds Who Vanished
▼ + stars: | 2023-08-30 | by ( Pascale Bonnefoy | ) www.nytimes.com time to read: 1 min

Thirty-six years after Fernando Ortíz’s abduction and disappearance, his family finally received his remains: five bone fragments in a box. No one came out alive from the black site named for the street it was on: Simón Bolívar. It was little more than a house in a rural area east of the capital run by the regime’s intelligence agency, DINA. There were no witnesses or survivors to shed light on the detainees’ fates. Mr. Ortíz was one of 1,469 people who disappeared under Chile’s military rule from 1973 to 1990.

Persons: Fernando Ortíz’s, Ortíz, Augusto Pinochet, DINA Locations: Chile

☆ Opinion: Young Colombians had high hopes for their first leftist president. It didn’t last
▼ + stars: | 2023-08-23 | by ( Opinion Kristina Foltz | ) edition.cnn.com time to read: +9 min

Before Petro, Colombia had been governed for decades by liberal and conservative parties forming part of the broader Colombian political right. A demonstrator holds a tainted image of Colombian President Gustavo Petro (left) during an anti-government protest in the capital on August 16. Luisa Gonzalez/ReutersBut what about young Colombians, who, like me, are worried about the direction Petro is taking the country? Ivan says he was drawn to Petro because, “he always had a message about generating free quality education for young people. His successor, President Nicolas Maduro, continued Chavismo policies that have destroyed the Venezuelan economy.

Persons: Kristina Foltz, Read, — Gustavo Petro —, I’m, — Nicolas Petro —, Nicolas ’, Petro, Gustavo Petro, Luisa Gonzalez, Ivan Oros, “, ”, Ivan, —, Ivan’s, Juan Manuel Santos, Ivan Duque’s ‘, he’s, Nicolas —, Ariel Ricardo Armel, Juan Valdez, ” Ariel, Hugo Chavez, Nicolas Maduro, Ariel, Armando Duarte Galan, governability, it’s Organizations: Rotary Ambassador, CNN, Petro, Reuters, La Primavera, Revolutionary Armed Forces, Colombian, University of Pamplona, Social Communications, Colombian Organization, Students, El, SISBEN, WHO, US, Twitter, Facebook, Plaza Bolivar Locations: Bogotá, Colombian, Latin America, Colombia, Venezuela, Venezuelan

☆ Venezuela's bolivar weakens against the U.S. dollar as inflation rages
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

CARACAS, Aug 3 (Reuters) - The Venezuelan bolivar weakened to 30 units per dollar, the central bank said on Thursday, marking the latest descent for the beleaguered local currency as the economy suffers one of the world's highest inflation rates. Over the past seven months, the bolivar has depreciated by a third compared with the U.S. dollar, according to analysts consulted by Reuters. They have also tried to make foreign currency more readily available to local banks, but the strategies have not tamed the country's galloping inflation rate. Since early this year, the central bank has offered local banks about $1 billion, according to local firm Sintesis Financieras. Meanwhile, U.S.-based oil major Chevron (CVX.N), which operates in the country, has posted foreign currency sales of around $400 million from February to July.

Persons: Venezuelan bolivar, bolivar, Nicolas Maduro, Maduro's, Sintesis, Maduro, Mayela Armas, Carolina Pulice, David Alire Garcia, Leslie Adler Organizations: U.S ., Reuters, Thomson Locations: CARACAS, Venezuelan, U.S, Chevron

Several countries, including Venezuela, Argentina and Sudan have been saddled with skyrocketing costs for decades. In advanced economies overall, inflation averaged 2.4% since the 1990s – the earliest aggregate data the IMF has available. In 2022, Venezuelan inflation was still 310%, the highest in the world that year. “Because everything will be more expensive tomorrow, people spend their money as they receive it, increasing the inflation,” Anselmi told CNN. Using US currency for transactions is common in Venezuela, as people don’t trust the volatile local currency, according to Guevara.

Persons: Z, Bolivar, bolivars, Andrés Guevara, bolivar, ”, “, Nelson Sánchez, Sanchez, Emiliano Anselmi, Luis Robayo, ” Anselmi, Guevara, Gaby Oraa, Anselmi Organizations: CNN, Bureau of Labor Statistics, International Monetary Fund, IMF, Federal Reserve, European Union, Pensioners, Andrés Bello Catholic University, Getty, U.S Locations: United States, Venezuela, Argentina, Sudan, Ukraine, United Kingdom, US, Caracas, Buenos Aires, AFP, Venezuelan

☆ Mine collapse kills at least 12 in southern Venezuela
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +1 min

PUERTO ORDAZ, Venezuela, June 4 (Reuters) - Flooding collapsed a gold mine in southern Venezuela, killing at least 12 miners, local authorities said on Sunday, adding that the victims' bodies were returned to their families. The Talavera mine, located in El Callao, in Venezuela's Bolivar state, flooded on Wednesday due to heavy rains but rescue workers could not finish recovery efforts before Saturday. Another 112 people survived the mine collapse, said Edgar Colina, the secretary for Citizen Security in Bolivar, adding that authorities will return to the site on Sunday to check for other survivors or victims. Advocacy groups and other organizations have issued warnings about the region, with the UN last year reporting that human rights violations take place in Venezuela's mining regions. Reporting by Maria de los Angeles Ramirez in Puerto Ordaz Writing by Oliver Griffin; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Edgar Colina, Maria de, Angeles Ramirez, Oliver Griffin, Lisa Shumaker Organizations: Citizen Security, UN, Thomson Locations: PUERTO ORDAZ, Venezuela, Talavera, El Callao, Venezuela's Bolivar, Bolivar, Puerto

☆ 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.

☆ Fact Check-Photo of Venezuelan bank notes on the ground is not new
▼ + stars: | 2023-04-11 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A photo of Venezuelan bank notes scattered on the street has been shared by online users alongside claims it is a depiction of current monetary values in the country. Examples of users sharing the photo on Facebook saying it shows current bank notes in Venezuela, can be seen (here) and (here). This scene is missing context, however, as it shows now-worthless notes tossed on the street following a bank robbery in the town of Merida the year after the Bolivar Fuerte was replaced. The photos show the aftermath of a Venezuelan bank robbery in 2019. Thieves discarded worthless currency on the streets as the stolen money was of a retired currency.

☆ Egypt's pound is among the worst performing currencies in 2023. And it's expected to plummet further
▼ + stars: | 2023-04-05 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

A photo of one hundred Egyptian pound, one hundred U.S. dollars against the pyramids of Giza in Egypt on January 17, 2023. Fadel Dawod | Getty ImagesThe Egyptian pound has plunged almost 20% against the greenback since the start of the year — with some analysts predicting that the currency may still have room to plummet further. Egypt's pound currently ranks as the sixth worst performing currency since Jan. 1, extending a decline that saw it lose more than half its value during 2022. Egypt's embattled economyHowever, the economic woes plaguing the Middle East's most populous country means its pound still has a way to plummet, according to the experts. He expects Egypt's inflation to peak at around 36% in the third quarter, if there are no more devaluations.

He was replaced by Pedro Rafael Tellechea, who had been named to head PDVSA in January. Maduro said that his government was committed to "going to the root" of corruption, calling the probe which began last year "professional, scientific and disciplined." The Finance Ministry, the central bank, and PDVSA did not respond to requests for comment. It is unclear whether the corruption probe and contract review will concretely improve PDVSA's cash flows in the near future. PDVSA last year delayed cash payments in dollars to several of its suppliers because of dwindling income.

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.

☆ 60,000 miles of US roads could be under water in a few decades. Here's how experts say we can save our critical infrastructure.
▼ + stars: | 2023-02-16 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +9 min

"In the Keys, if you redo your house, you have to mitigate it for sea level rise," he told Insider. The islands are particularly exposed to rising sea levels. Across the country, you can expect coastlines to rise an average of 10 to 12 inches over the next 30 years, according NOAA's Sea Level Rise Viewer, which lets you adjust sea level rise and visualize how in trouble your house or your commute might be. Then, he started doing what NOAA recommends, reading about sea level rise and the plans that individual communities are studying to increase their own resiliency. By understanding how to adapt incrementally, and starting to act as soon as possible, the US can learn how to adapt to rising sea levels.

☆ Venezuelans say credit cards that were once lifeline now 'useless'
▼ + stars: | 2023-02-13 | by ( Mayela Armas | ) www.reuters.com time to read: +4 min

"They are useless," administrator Lina Pereira, from the central city of Valencia, said of her two credit cards, which both have low limits. "My parents bought appliances and computers with their credit cards, but that's a memory for Venezuelans." As incomes have fallen and living costs have grown, credit cards have become vital for many people to make everyday purchases in supermarkets and pharmacies, even as credit limits stagnate and some banks eliminate the cards altogether. In 2012 that figure was 12% in Venezuela, while in countries like the Dominican Republic and Bolivia credit cards currently account for 5% of banks' credit portfolios, according to those country's regulators. "With the limit on cards you can't even pay for lunch," said Gregorio Afonso, a 53-year-old university professor who has two local credit cards and an income of $20 monthly.

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