The International Air Transport Association (IATA) called on the Venezuelan government to honor the commitment it made in March to permit airlines to repatriate in full and at fair exchange rates airline funds being blocked in the country.
Venezuela's state-run oil company Petroleos de Venezuela SA (PDVSA) is considering offers to sell its U.S. downstream subsidiary Citgo, industry research group Argus Media reported on its website last Friday.
The Dutch government released a former Venezuelan general who was detained on US drug charges when he arrived in Aruba to serve as his country's consul on the Dutch Caribbean island, sending him home Sunday night and defusing a diplomatic fight with its neighbor.
A judge in Aruba ruled Friday that the highest-ranking Venezuelan official ever arrested on a U.S. warrant will remain behind bars pending an extradition request on drug charges. Hugo Carvajal, a former head of Venezuelan military intelligence and close confidant of the late president Hugo Chavez, was arrested upon arriving at Aruba’s airport, officials said Thursday.
The trial against Venezuelan hard-line opposition leader Leopoldo Lopez, who is accused of inciting violence at anti-government protests has began in Caracas. Lopez could face up to 13 years in jail if convicted.
Venezuela confirmed Monday that its relations with China have become a fundamental pillar for making progress in almost all sectors of its economy. With a new portfolio of accords and almost 5.7 billion in loans, Beijing will provide support in many key areas.
After slamming international banks for more than a decade, the Venezuelan government met with investment bankers to try to change the perception of risk associated to the country and prepare the scenario for upcoming economic measures.
The US House of Representatives passed legislation on Wednesday, to impose sanctions on Venezuelans responsible for human rights abuses during anti-government protests, despite Obama administration worries that they could threaten talks seeking to ease the unrest.
As airlines cut service to Caracas and Venezuela struggles with a continuing debt crisis, the government of President Nicolás Maduro revealed that it would raise all international airline ticket prices by 350%. The measure should allow to pay part of the 4 billion dollars owed to foreign airlines, according to the government.
President Nicolás Maduro said the World Cup is to blame for international airlines’ decision to cut flights to Venezuela and denied that the move had anything to do with his government's refusal to allow them to repatriate proceeds from ticket sales inside the country.