Economy News Index

• The Central Bank of Venezuela approved the use of the euro for financial transactions
• Venezuela unemployment dips to 8.9 pct at year-end

December 23, 2005

• Iron production in Venezuela increased by 10%

• Fitch affirms Banco de Venezuela ratings

• Venezuelan confident over economy
• Alcasa investing US$35mn to prepare for modernization
• Samsung Electronics signs Venezuela wireless broadband tieup

• President Chávez calls for creation of bank
• The Economist: Emerging-market indicators

• ECLAC: Venezuela registering fastest economic growth 9% in 2005
• Venezuela and India weigh rail manufacture
• Cadafe to receive US$18.5mn from IDB loan
• Edelca gets ISO 9001:2000 certification for hydro projects
• German group BAGR is analyzing Venezuelan aluminum industry
• Commercial exchange with the US showed a surplus of $20,767
• 7 billion dollars in sales revenues at shopping malls
• Private sector will continue its dialogue with the government

• More than $422 millions in new FDI in 2005

• Venezuela approves 2006 budget with 5 pct growth
• Venezuela exports rose 44 percent, IDB estimates

• Venezuela and Iran ink US$850 million and a memorandum of understanding
• The Andean Development Corporation loaned US$350mn to Venezuela for developing technology

• Venezuelan banking regulator could authorize 7 cooperative banks by year-end
• IBM opens sixth Latin American service delivery center in Venezuela
• Executive body of Mercosur ratifies Venezuela's entry, agrees on parliament
• Venezuela joining South America's Mercosur trade bloc
• Non-traditional exports will grow 20%

• Venezuela to submit Andean Community new mining integration project

• Venezuela plans steelworks with Indian and Chinese firms

• Inter-American Development Bank approves US$768 million loans
• Italy's group Astaldi says may get rail deal in Venezuela

• IDB approves $125 million for expansion and improvement of basic education in Venezuela