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Venezuela’s state bank announces partial share sale

AFP

Venezuela’s state bank said on Wednesday it would sell up to 10 percent of its shares as part of the government’s plan to inject capital into public companies struggling due to a lack of investment.

Two weeks ago, Venezuela President Nicolas Maduro announced a plan to sell off parts of public companies.

The Bank of Venezuela is the only state firm so far to have declared a share sale, although it gave no details as to when that would be.

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It said in a statement shared on social media that it would “begin the public offer of 5 percent progressively up to 10 percent of its social capital.”

“It is the first step by Venezuelan public companies to offer on the stock market the possibility for citizens, and national and international private economic actors, to take part in the country’s development through instruments of economic democratization.”

The first share sale was supposed to take place on May 16 with the CANTV telephone company, but it never happened and no explanation was ever given.

The Bank of Venezuela is the largest in the country with 15 million customers and was nationalized under the presidency of the late Hugo Chavez (1999-2013.)

It was under the control of the Spanish Santander Group from 1994 until the transfer of its shares to the state in 2009.

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Since last year, several NGOs such as Transparency Venezuela have claimed that the government has been negotiating with the private sector with regards to state companies in fields such as farming, tourism and manufacturing.

With the collapse of Venezuela’s vital oil industry and the punishing effects of US sanctions aimed at forcing Maduro from power, the government has been forced to relax various state controls imposed under Chavez.

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International

President Boric announces curfew following triple police homicide in Chile

Chile offers residency and Chilean nationality to Nicaraguan opponents

Chilean President Gabriel Boric has implemented a nighttime curfew in three municipalities of the Biobío region following the murder of three police officers. The Chilean leader emphasized that “criminals will answer to Chile and its justice system.”

In a post on X, formerly known as Twitter, Boric stated that he made the decision “after discussing with the General Director of the Carabineros, the Chiefs of Staff of the Armed Forces, the Head of National Defense, and the Chief of the Joint Chiefs of Staff, having also considered various alternatives and taking into account the needs of the ongoing investigation.”

He further detailed that “I have instructed to decree a curfew in the municipalities of Cañete, Contulmo, and Tirúa from midnight to 7:00 AM. Additionally, police and military presence will be intensified to our utmost capacity with joint patrols in the area.”

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International

President López Obrador meets with Astros and Rockies ahead of Mexico City Series

Last Friday, before the 2024 Mexico City Series between the Astros and Rockies at Alfredo Harp Helú Stadium in Mexico City, President Andrés Manuel López Obrador met with representatives from both teams.

Through his social media, the President shared his interaction with executives from the Houston and Colorado teams, as well as with Astros’ Mexican pitcher, José Urquidy.

“Yesterday (Friday), before starting the tour, I had breakfast with executives and friends from the Houston Astros and the Colorado Rockies. There’s increasingly more baseball fever in our country,” López Obrador wrote.

The photos also featured former Mexican major leaguers Vinicio “Vinny” Castilla and Jorge de la Rosa, both of whom played for the Colorado team.

On Saturday night, the Houston Astros won the first game in the “capital inferno,” home of the Mexico City Red Devils, with a commanding score of 12 to 4.

This Sunday, the second game of the series will take place at AHH, with both teams arriving in Mexico on a losing streak. Another great Major League celebration is anticipated at the “fire diamond.”

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International

Social media star Om Fahad fatally shot in Baghdad

An Iraqi TikToker, previously sentenced to prison last year for posting content deemed “indecent” on social media, was fatally shot in Baghdad on Friday, according to two security officials.

Om Fahad, who had tens of thousands of followers on TikTok and Instagram, gained fame for her videos featuring her in tight outfits dancing to Iraqi music, in a country that is predominantly conservative and patriarchal.

The young woman was shot by an assailant on a motorcycle while she was in her vehicle outside her home in central Baghdad, two security officials reported anonymously to AFP.

In February 2023, a court initially sentenced Om Fahad to six months in jail for “publishing various videos with indecent intentions that violate modesty and public morals.”

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