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CARACAS, Tuesday August 19, 2008 | Update
The Venezuelan Stock Market Commission (CNV) ordered Tuesday
to suspend for 24 hours trading of Cemex Venezuela shares,
following the expropriation announcement made on the eve by
Venezuelan authorities.
Cemex's type 1 shares fell 2.82 percent on early trading,
whereas type 2 shares were down 1.43 percent. The price of
both shares in Caracas Stock Market is VEB 0.69, Reuters said.
Cemex Venezuela was controlled by Mexican company Cemex,
which is the world's third largest cement company.
05:09 PM. Economy. If any country has cashed in on the Bolivarian revolution, that is Brazil, particularly the private companies of the southern neighbor. Over the past five years, it has been awarded contracts for works to be carried out in Venezuela for over USD 14 billion. This puts it as the first recipient of government-to-government contracts, that is, without bidding, since Hugo Chávez took office.
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