Religious procession in Caracas to pray for "end of hatred and violence"

Posted by click at 6:05 AM in Venezuela

www.vheadline.com Posted: Monday, February 17, 2003 By: Patrick J. O'Donoghue

Four images of the Virgin Mary (Divina Pastora), Mystical Rose, Fatima and Our Lady of Pompeii visited Caracas have been held in a crusade for peace in Venezuela. Processions set out from the four corners of the capital to meet in the Eastern Highway for rosary, hymns and speeches.

Miranda State Governor’s Office and the Baruta Municipality organized the procession and rally. Judging from the number of tricolor flags and references to communism, it seems that the opposition dominated the event.

Father Pablo Fernandez set the tone by declaring that the march was against “hatred and violence … we must not be overcome by disappear and sadness … The Virgin’s power is in our hearts … it’s time to pray for Venezuela but it’s also a time to act.”

It is not certain whether the process received Venezuelan Episcopal Conference (CEV) approval but the tone was definitely reminiscent of erstwhile anti-Communist religious crusades.

New operatorship in Venezuela

Posted by click at 5:47 AM in Venezuela

www.oilonline.com by: OilOnline Monday, February 17, 2003

Statoil was awarded operatorship of Block 4 in the Plataforma Deltana area offshore eastern Venezuela. The acreage lies in water depths ranging from 656 feet to 2,625 feet. Statoil offered a $32 million signature bonus and committed to drill three exploration wells at an estimated $60 million cost over the next four years to define the area's resource potential. Statoil currently has interests in two Venezuelan production licenses - one in the Sincor heavy crude project in the Orinoco Belt and in the LL 652 field in Lake Maracaibo.

Chavez Calls for Fixed Interest Rates

Posted by click at 5:36 AM in Venezuela

www.firstcoastnews.com

A sign reading "We pray for peace," center, is displayed along with Venezuelan flags at a gathering to pray for peace in Caracas, Venezuela, Sunday, Feb. 16, 2003. Thousands of Venezuelans gathered on a Caracas highway to pray for peace in their bitterly divided nation.

CARACAS, Venezuela (AP) -- President Hugo Chavez said Sunday interest rates should be fixed to reverse Venezuela's deteriorating economic situation, just days after he imposed exchange controls and price controls for the same reason. "I want interest rates to be lowered," Chavez said. "I want the interest rates to be fixed ... and I call on the Central Bank of Venezuela to fix them." Chavez suggested a maximum rate of 30 percent for commercial banks' lending rates, compared with well over 40 percent at present. This would give small companies and farmers better access to credit, he said. The central bank's current lending rate is 37 percent. Chavez, speaking on his weekly TV and radio program, also threatened to send troops to seize food-processing plants that have threatened to stop producing because of newly imposed price controls. To slow rising prices, the government last week slapped price controls on more than 220 goods ranging from powdered milk to beef and rice. Some producers say their businesses will not be profitable if they sell at the new prices. Opposition leaders predict shortages of many goods. "If they close the plants I'll take them away from them again," Chavez roared. "Here and now I order the armed forces and the defense minister ... to start drawing up plans to seize the plants." Last month, troops raided two bottling plants that had closed in support of a national strike against Chavez, seizing drinks to distribute among the population. Chavez accused the companies - a local bottler of Coca-Cola and Venezuela's largest food and drink producer, Empresas Polar - of hoarding basic necessities. The two-month strike was called by a coalition of labor unions, business chambers and opposition political parties to force Chavez into resigning or accepting a vote on his rule. On Feb. 3, the strike was lifted in all areas, except the oil industry, to protect businesses from bankruptcy. Inflation topped 30 percent last year, fueled by a rapid devaluation of the bolivar currency. The bolivar lost another 25 percent in January, prompting the government to introduce exchange controls which peg the currency at 1598 per dollar. Chavez has fired over 10,000 workers from the state oil monopoly, Petroleos de Venezuela S.A., since the strike began, and used only government sympathizers to bring oil production up to around half of pre-strike levels. Chavez said Sunday production had exceeded 2 million barrels a day; fired oil executives say the figure is around 1.3 million barrels. Venezuela's Central Bank is, by law, an autonomous institution but has worked closely with Chavez's government in drawing up the recent price and exchange controls. Chavez, a former paratrooper, was first elected in 1998 and re-elected in 2000. He promised to wipe out the corruption of previous governments and redistribute the country's vast oil wealth to the poor majority. His critics charge he has mismanaged the economy, tried to grab authoritarian powers and split the country along class lines with his fiery rhetoric.

General strike boosts Viagra sales in Venezuela

Posted by click at 5:31 AM in Venezuela

www.ananova.com

Viagra became the top-selling medicine in Venezuela during the country's two month general strike.

The 63-day strike devastated the local economy, but appears to have been an unexpected boost for Pfizer.

More than six million of the blue pills were sold, placing the country third in the world in per capita Viagra consumption.

The sales figures have been released by the Association of Pharmaceutics in Venezuela.

Newspaper Tal Cual said: "Venezuelan men with erectile disfunction have used their time well during the general strike."

Sex experts say that the strike and the country's tensions must have stimulated Venezuelans' libidos.

Story filed: 15:07 Monday 17th February 2003