Daily News > Daily News

GM conflict risks 40 percent of vehicle production

Economy The labor dispute at General Motors (GM), which has lasted six weeks thus far, is risking even further the performance of the automotive sector, since the US automaker has a 40 percent share of vehicles production in Venezuela and 35.5 percent of car sales in the domestic market.

If problems continue, General Motors has not ruled out the possibility of closing operations in Venezuela (File photo)

Quotable

"When you examine (Chávez's) actions, what he is doing is exactly what Mussolini did in Italy and Hitler did in Germany in 1930 before becoming expansionists. It is fascism."

Former US Ambassador Otto Reich

Breaking News

Otto Reich compares Hugo Chávez with Hitler and Mussolini

Politics

Otto Reich, the policy adviser on Latin America for Republican presidential candidate John McCain, said that Hugo Chávez is an enemy of the US.

Colombia takes steps to repatriate ex minister detained in Venezuela

Politics

The Colombian government took steps Friday for repatriation to Colombia of ex minister Álvaro Araújo Noguera, who was arrested Thursday in Venezuela.

A single node does not translate into lower internet rates

Chávez's Controversial Laws

One of the most controversial aspects of the draft law on Telecommunications, Information Technology and Postal Services is the likelihood of government control over Internet access through a single interconnection node.

News Alerts

Colombia takes steps to repatriate ex minister detained in Venezuela

Inflation estimated at 37 percent in 2009

Chávez lashes out at people rejecting his 26 decrees-laws

Otto Reich compares Hugo Chávez with Hitler and Mussolini

Jury in trial for suitcase scandal has been selected

Recommended 1 2

"Rebirth is nearby"

Politics Head of the extinct Copre Arnoldo José Gabaldón says that the changes bolstered by that agency helped prevent "this system from turning into dictatorship."

"The Constitution does not work"

Politics "Revolutions are imposed," says university professor Margarita López Maya regarding Chávez's stubborn efforts at implementing his failed constitutional reform.

Background

Weapons

Venezuela will buy training planes and fighters from China, and at the same time it has offered its territory to the Russian government for its aircrafts can stop over and its ships have a port of call, said President Hugo Chávez, who did not elaborate on the characteristics of the weaponry he will negotiate with Chinese President Hu Jintao.

Databank

Oil Output

Based on preliminary scenarios for 2009 budget, official experts estimate domestic oil production at 3.6 million bpd. Official sources said that the figure is still under review, since Pdvsa is to submit more production scenarios concerning the reference price of oil. For the current period, the authorities set a price of USD 35, although the present oil basket averages USD 103.9. Therefore, the Treasury is receiving a USD 68.9 surplus.