Venezuela's President Nicolas Maduro has been selected to seek a third, successive term in July 28 elections, a senior ruling party official said Monday.

A vote by the PSUV party concluded that Maduro would be its presidential candidate, Diosdado Cabello, considered the number 2 in the ruling "Chavismo" movement, wrote on X.

Maduro, 61, has not made any announcement himself, but has been widely expected to seek reelection in a vote from which his main challenger has been precluded from running.

The president's re-election to a six-year term in 2018 -- widely considered fraudulent -- was not recognized by the United States and dozens of other countries, and was met with a string of sanctions.

Last week, Venezuela's electoral authority CNE announced elections will be held on July 28 in the South American country which is in dire economic straits.

Also Read:&nbsp;<a href="https://www.wionews.com/world/southern-venezuela-illegal-gold-mine-collapse-kills-dozens-in-bolivar-state-692504">Illegal gold mine collapse kills dozens in southern Venezuela's Bolivar state</a>

That came after Maduro's government and the opposition agreed in Barbados last year to hold a free and fair vote in 2024 with international observers present.

The deal saw the United States ease sanctions against the oil-rich South American country, allowing US-based Chevron to resume limited crude extraction and leading to a prisoner swap.

The agreement required that opposition candidates be allowed to appeal court rulings disqualifying them from holding office.

Since then, however, the Supreme Court loyal to Maduro upheld a 15-year ban on opposition primary winner Maria Corina Machado and others, prompting Washington to consider reimposing sanctions.

Venezuela's President Nicolas Maduro has been selected to seek a third, successive term in July 28 elections, a senior ruling party official said Monday. A vote by the PSUV party concluded that Maduro would be its presidential candidate, Diosdado Cabello, considered the number 2 in the ruling "Chavismo" movement, wrote on X.

Venezuela's President Nicolas Maduro has been selected to seek a third, successive term in July 28 elections, a senior ruling party official said Monday. A vote by the PSUV party concluded that Maduro would be its presidential candidate, Diosdado Cabello, considered the number 2 in the ruling "Chavismo" movement, wrote on X. Maduro, 61, has not made any announcement himself, but has been widely expected to seek reelection in a vote from which his main challenger has been precluded from running. The president's re-election to a six-year term in 2018 -- widely considered fraudulent -- was not recognized by the United States and dozens of other countries, and was met with a string of sanctions. Last week, Venezuela's electoral authority CNE announced elections will be held on July 28 in the South American country which is in dire economic straits. Also Read: Illegal gold mine collapse kills dozens in southern Venezuela's Bolivar state That came after Maduro's government and the opposition agreed in Barbados last year to hold a free and fair vote in 2024 with international observers present. The deal saw the United States ease sanctions against the oil-rich South American country, allowing US-based Chevron to resume limited crude extraction and leading to a prisoner swap. The agreement required that opposition candidates be allowed to appeal court rulings disqualifying them from holding office. Since then, however, the Supreme Court loyal to Maduro upheld a 15-year ban on opposition primary winner Maria Corina Machado and others, prompting Washington to consider reimposing sanctions.

Venezuela's Maduro named as ruling party election candidate

Drought conditions and heatwaves have caused an unprecedented number of fires this year. Thereby, the estimated carbon emissions in three south american countries - Brazil, Venezuela and Bolivia - in February this year have been the highest for the month in 21 years.

Brazil, Venezuela, Bolivia see surging wildfire emissions: EU monitor

Taking inspiration from his&nbsp;predecessor Donald Trump, US President Joe Biden is considering an executive action to address the border crisis. In other news, several people were killed in southern Venezuela after an illegal 'open-pit' gold mine collapsed in the Angostura municipality.&nbsp;

Click on headlines to read more:

<a href="https://www.wionews.com/world/taking-leaf-out-of-trumps-book-biden-considers-executive-action-to-restrict-asylum-at-border-692520">Taking leaf out of Trump's book? Biden considers executive action to restrict asylum at border</a>

US President Joe Biden is mulling executive action that would prevent illegal migrants from seeking asylum in the country after they have crossed the southern border, according to US media reports.&nbsp;&nbsp;

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/02/21/413347-the-battle-for-kyiv-2024-02-21t100259345.jpg?imwidth=500" />

<a href="https://www.wionews.com/world/southern-venezuela-illegal-gold-mine-collapse-kills-dozens-in-bolivar-state-692504">Southern Venezuela: Illegal gold mine collapse kills dozens in Bolivar state</a>

Several people were killed in a devastating incident in Venezuela as an illegal 'Bulla Loca' gold mine collapsed on February 20 in the state of Bolivar, which requires a seven-hour boat journey from the nearest town, La Paragua.&nbsp;

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/02/22/413546-venezuela.png?imwidth=500" />

<a href="https://www.wionews.com/world/us-police-officer-who-struck-and-killed-indian-student-jaahnavi-kandula-wont-be-charged-692499">Jaahnavi Kandula's death: US police officer who struck and killed Indian student won't face criminal charges</a>

The Seattle police officer who killed&nbsp;Jaahnavi Kandula, a 23-year-old Indian student last year, won't be criminally charged, the prosecutors informed&nbsp;on Wednesday (Feb 21).

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2023/09/17/380284-succession-2023-09-17t012245279.jpg?imwidth=500" />

<a href="https://www.wionews.com/wion-world-of-sports/biden-announces-fresh-student-loan-relief-for-150000-americans-692498">Biden announces fresh student loan relief for 150,000 Americans</a>

US President Joe Biden on Wednesday (Feb 21) announced he was extending his student loan forgiveness programme by cancelling loans of an additional 150,000 Americans worth $1.2 billion.

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/02/12/411606-untitled-design-8.png?imwidth=500" />

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Taking inspiration from his predecessor Donald Trump, US President Joe Biden is considering an executive action to address the border crisis. In other news, several people were killed in southern Venezuela after an illegal 'open-pit' gold mine collapsed in the Angostura municipality.

Taking inspiration from his predecessor Donald Trump, US President Joe Biden is considering an executive action to address the border crisis. In other news, several people were killed in southern Venezuela after an illegal 'open-pit' gold mine collapsed in the Angostura municipality. Click on headlines to read more: Taking leaf out of Trump's book? Biden considers executive action to restrict asylum at border US President Joe Biden is mulling executive action that would prevent illegal migrants from seeking asylum in the country after they have crossed the southern border, according to US media reports. Southern Venezuela: Illegal gold mine collapse kills dozens in Bolivar state Several people were killed in a devastating incident in Venezuela as an illegal 'Bulla Loca' gold mine collapsed on February 20 in the state of Bolivar, which requires a seven-hour boat journey from the nearest town, La Paragua. Jaahnavi Kandula's death: US police officer who struck and killed Indian student won't face criminal charges The Seattle police officer who killed Jaahnavi Kandula, a 23-year-old Indian student last year, won't be criminally charged, the prosecutors informed on Wednesday (Feb 21). Biden announces fresh student loan relief for 150,000 Americans US President Joe Biden on Wednesday (Feb 21) announced he was extending his student loan forgiveness programme by cancelling loans of an additional 150,000 Americans worth $1.2 billion. Watch | ICJ should not order Israeli withdrawal from occupied Palestinian territories, US says ×

Morning news brief: Biden's proposed border plan; Venezuela illegal gold mine collapse, and more

At least 16 people were killed and several others injured in a landslide at an illegal gold mine in Venezuela. The landslide occurred in a rural area in Bolivar state. The open-pit gold mine collapsed in the jungles of southern Venezuela. The incident occurred at the Bulla Loca mine. Relief teams and rescue workers have been dispatched to the area.

Venezuela: At least 16 killed as landslide leads to mine collapse

Several people were killed in a devastating incident in Venezuela as an illegal 'Bulla Loca' gold mine collapsed on February 20 in the state of Bolivar, which requires a seven-hour boat journey from the nearest town, La Paragua. As many as 200 people were reportedly working at the open-pit mine at the time the mine collapsed, media reports said.&nbsp;

Yorgi Arciniega, mayor of the Angostura municipality, reportedly revealed that among the retrieved bodies, fifteen arrived in La Paragua via boat, with another eight en route. The situation appeared grim as Deputy Minister of Civil Protection Carlos Perez Ampueda, while withholding precise figures, described the toll as "massive."

Heart-wrenching scenes emerged as distraught relatives awaited news on their loved ones'&nbsp;fate. A total of 15 people who were injured, according to initial reports, were being transported to a hospital in the regional capital Ciudad Bolivar.&nbsp;

<h2>Community devastated by loss</h2>

Residents lamented the perilous working conditions in the mines and highlighted the desperation driving individuals to such hazardous endeavours. Robinson Basanta, a resident, expressed the inevitability of the tragedy due to the workers' economic situation and how it propels miners into risking their lives.

"This mine has yielded a lot of gold... People go there out of necessity, to make ends meet," he reportedly pointed out. Families pleaded for assistance and urged the authorities to deploy helicopters to expedite the evacuation of the injured.

Also Read |&nbsp;<a href="https://www.wionews.com/world/south-korea-orders-striking-doctors-back-to-work-as-emergency-units-turn-away-patients-692497">South Korea orders striking doctors back to work as emergency units turn away patients</a>

Activists have been raising concerns over the environmental degradation and exploitation prevalent in the region. They have also been urging attention to the plight of children subjected to gruelling labour without adequate safeguards.

Also Read |&nbsp;<a href="https://www.wionews.com/world/alexei-navalnys-mother-files-lawsuit-over-refusal-to-release-her-sons-body-692493">Alexei Navalny's mother files lawsuit over refusal to release her son's body</a>

Efforts to assess the situation and conduct search and rescue operations were underway, media reports said, and assistance had been mobilised from various organisations, including teams dispatched from Caracas.

<h2>Past incidents</h2>

This catastrophe echoed a similar incident in December last year, where 12 lives were claimed in a mine collapse in the Indigenous community of Ikabaru. This underscored the persistent dangers faced by miners in the region.&nbsp;The Bolivar region, abundant in valuable minerals, including gold, coltan, and diamonds witnesses a thriving but perilous industry of illegal mining, exacerbating risks for workers and communities alike.

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The Venezuelan Armed Forces have initiated eviction&nbsp;of illegal miners from protected areas, highlighting ongoing efforts to curb unauthorised extraction activities contributing to environmental degradation and human tragedy. AFP reported that these forces evicted some 14,000 illegal miners from the Yapacana National Park in Amazonas state.&nbsp;

(With inputs from agencies)

Several people were killed in a devastating incident in Venezuela as an illegal 'Bulla Loca' gold mine collapsed on February 20 in the state of Bolivar, which requires a seven-hour boat journey from the nearest town, La Paragua.

Several people were killed in a devastating incident in Venezuela as an illegal 'Bulla Loca' gold mine collapsed on February 20 in the state of Bolivar, which requires a seven-hour boat journey from the nearest town, La Paragua. As many as 200 people were reportedly working at the open-pit mine at the time the mine collapsed, media reports said. Yorgi Arciniega, mayor of the Angostura municipality, reportedly revealed that among the retrieved bodies, fifteen arrived in La Paragua via boat, with another eight en route. The situation appeared grim as Deputy Minister of Civil Protection Carlos Perez Ampueda, while withholding precise figures, described the toll as "massive." Heart-wrenching scenes emerged as distraught relatives awaited news on their loved ones' fate. A total of 15 people who were injured, according to initial reports, were being transported to a hospital in the regional capital Ciudad Bolivar. Community devastated by loss Residents lamented the perilous working conditions in the mines and highlighted the desperation driving individuals to such hazardous endeavours. Robinson Basanta, a resident, expressed the inevitability of the tragedy due to the workers' economic situation and how it propels miners into risking their lives. "This mine has yielded a lot of gold... People go there out of necessity, to make ends meet," he reportedly pointed out. Families pleaded for assistance and urged the authorities to deploy helicopters to expedite the evacuation of the injured. Also Read | South Korea orders striking doctors back to work as emergency units turn away patients Activists have been raising concerns over the environmental degradation and exploitation prevalent in the region. They have also been urging attention to the plight of children subjected to gruelling labour without adequate safeguards. Also Read | Alexei Navalny's mother files lawsuit over refusal to release her son's body Efforts to assess the situation and conduct search and rescue operations were underway, media reports said, and assistance had been mobilised from various organisations, including teams dispatched from Caracas. Past incidents This catastrophe echoed a similar incident in December last year, where 12 lives were claimed in a mine collapse in the Indigenous community of Ikabaru. This underscored the persistent dangers faced by miners in the region. The Bolivar region, abundant in valuable minerals, including gold, coltan, and diamonds witnesses a thriving but perilous industry of illegal mining, exacerbating risks for workers and communities alike. Watch | Gravitas | Asbestos tally continues to rise in Sydney × The Venezuelan Armed Forces have initiated eviction of illegal miners from protected areas, highlighting ongoing efforts to curb unauthorised extraction activities contributing to environmental degradation and human tragedy. AFP reported that these forces evicted some 14,000 illegal miners from the Yapacana National Park in Amazonas state. (With inputs from agencies)

Illegal gold mine collapse kills dozens in southern Venezuela's Bolivar state

Venezuela's government has asked staff from the United Nations' human rights body to leave the country within three days, saying it will conduct a revision of its cooperation with the organization, with the UN saying it would evaluate next steps.

Venezuela asks UN human rights staff to leave country amid review

Venezuela orders UN office on human rights to close and staff to leave

Iranian Oil Minister Javad Owji has met with the top Venezuelan officials, including Foreign Minister Yván Gil, during his visit to the Latin American country.

Iran and Venezuela look to strengthen energy ties

The UK has deployed its Royal Navy Patrol vessel HMS Trent near Guyana. Venezuelan President Maduro has slammed this move as a provocation and asked 5,600 troops to launch a defensive exercise near the border. The neighbours are locked in a dispute over the oil-rich Esequibo region. Will this lead to an oil war in South America?

Gravitas | Will there be an oil war in South America?

Several bars and restaurants in Venezuela's capital Caracas are offering an eight-hour tour where customers visit each establishment in a bid to boost low sales at a time of persistent inflation.

Venezuela: Capital bars offer food & dance tours for tourists to boost sales

Gustavo Cisneros who brought us multinational firms to Venezuela has died at the age of 78. He oversaw a broad array of assets from media to Industry and was known as the billionaire who defined Venezuela's business.

Billionaire Cisneros, who defined Venezuela's business, dies at 78

On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force. With that, the threat of a military conflict is over - at least for now.

Esequibo is a part of English-speaking Guyana, constituting two-thirds of the total land. However the densely-forested region has been claimed by Venezuela for the last two centuries.

The territorial dispute took a dramatic turn on May 20, 2015, when US energy giant ExxonMobil announced that it had discovered crude oil deposits in the region.

"In 2013, the Guyanese explored the waters off the Essequibo coast for oil reserves and awarded a license to ExxonMobil to drill for oil. Without this oil discovery, the dispute would not have escalated to the current level," argues Latin America expert &nbsp;Hari Seshasayee. &nbsp;

The offshore waters of Essequibo hold over 11.2 billion oil-equivalent barrels and 17 trillion cubic feet of natural gas reserves.

The discovery, nevertheless, opened Guyana's door to economic prosperity.

Until 2019, when commercial oil exploration began, Guyana's economy depended on agriculture and mining. But the discovery of oil &amp; natural gas has helped change the economy, as they now constitute nearly half of the country's Gross Domestic Product.

The country has been the fastest growing economy since 2020, even as the global economy slowed under the weight of Covid-19 lockdowns and the Ukraine war.

In 2022, Guyana's economy grew by a whopping 62.3 per cent. The Caribbean country is expected to end 2023 with a growth rate of over 38 per cent. The momentum is likely to continue in 2024 too, with the economy expected to grow at an average of 20 per cent.

Guyana's oil and gas reserves are expected to potentially alter the global energy panorama.

As per some estimates, the South American country is set to become a top per capita oil producer by 2030. Thanks to its new-found oil wealth, Guyana now ranks high in GDP per capita in the Americas. Some estimates also suggest that the oil reserves can also help the country of 800,000 people to become richer than Kuwait or the UAE.

The dispute, however, imparts some lessons about the close link between politics and economics.

Seshasayee blames the current escalation on Venezuelan President Nicolas Maduro who, he argues, is fueling the dispute to appease his domestic constituency. "Maduro is essentially making a storm in a teacup. This will likely amount to nothing," he says.

In fact, Maduro held a referendum in November over the question of annexing Essequibo, which was marred by poor voter turnout and allegations of irregularities. Interestingly, the referendum took place just days after Guyana discovered another oil reserve in the region.

The fears of a military confrontation are not new. Reports suggest that Venezuela was eyeing the region during the Falkland war between the UK and Argentina.

However, the discovery of fossil fuels immediately triggered fears of a military confrontation in Guyana. "Guyana at the moment is facing a challenge to its survival by a larger state,"&nbsp;President David Granger said in 2015.&nbsp;

Venezuela already is a top oil producer and is known to possess the largest-proven oil reserves in the world.&nbsp;

Experts argue that adding Guyana's proven oil reserves in its kitty is unlikely to make much of a difference. So, the general view is that this issue has been whipped up only to save Maduro's presidency, due for expiry next year.

Nevertheless, the timing of the escalation underlines the difference that natural resources can make to the economic and political importance of a region.

The Arabian peninsula is a prime example. Once an arid and resource-scarce region, the discovery of oil in the late 1930s transformed Saudi Arabia - the kingdom occupies most of the peninsula - into a geopolitical hub, where the superpowers vie for influence.

Thanks to Essequibo, Guyana has the opportunity to turn its oil reserves into 'black gold'. But the looming fear of a Venezuelan invasion and other uncertainties could force Guyana to never achieve its full economic potential.&nbsp;

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On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force. With that, the threat of a military conflict is over - at least for now.

On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force. With that, the threat of a military conflict is over - at least for now. Esequibo is a part of English-speaking Guyana, constituting two-thirds of the total land. However the densely-forested region has been claimed by Venezuela for the last two centuries. The territorial dispute took a dramatic turn on May 20, 2015, when US energy giant ExxonMobil announced that it had discovered crude oil deposits in the region. "In 2013, the Guyanese explored the waters off the Essequibo coast for oil reserves and awarded a license to ExxonMobil to drill for oil. Without this oil discovery, the dispute would not have escalated to the current level," argues Latin America expert Hari Seshasayee. The offshore waters of Essequibo hold over 11.2 billion oil-equivalent barrels and 17 trillion cubic feet of natural gas reserves. The discovery, nevertheless, opened Guyana's door to economic prosperity. Until 2019, when commercial oil exploration began, Guyana's economy depended on agriculture and mining. But the discovery of oil & natural gas has helped change the economy, as they now constitute nearly half of the country's Gross Domestic Product. The country has been the fastest growing economy since 2020, even as the global economy slowed under the weight of Covid-19 lockdowns and the Ukraine war. In 2022, Guyana's economy grew by a whopping 62.3 per cent. The Caribbean country is expected to end 2023 with a growth rate of over 38 per cent. The momentum is likely to continue in 2024 too, with the economy expected to grow at an average of 20 per cent. Guyana's oil and gas reserves are expected to potentially alter the global energy panorama. As per some estimates, the South American country is set to become a top per capita oil producer by 2030. Thanks to its new-found oil wealth, Guyana now ranks high in GDP per capita in the Americas. Some estimates also suggest that the oil reserves can also help the country of 800,000 people to become richer than Kuwait or the UAE. The dispute, however, imparts some lessons about the close link between politics and economics. Seshasayee blames the current escalation on Venezuelan President Nicolas Maduro who, he argues, is fueling the dispute to appease his domestic constituency. "Maduro is essentially making a storm in a teacup. This will likely amount to nothing," he says. In fact, Maduro held a referendum in November over the question of annexing Essequibo, which was marred by poor voter turnout and allegations of irregularities. Interestingly, the referendum took place just days after Guyana discovered another oil reserve in the region. The fears of a military confrontation are not new. Reports suggest that Venezuela was eyeing the region during the Falkland war between the UK and Argentina. However, the discovery of fossil fuels immediately triggered fears of a military confrontation in Guyana. "Guyana at the moment is facing a challenge to its survival by a larger state," President David Granger said in 2015. Venezuela already is a top oil producer and is known to possess the largest-proven oil reserves in the world. Experts argue that adding Guyana's proven oil reserves in its kitty is unlikely to make much of a difference. So, the general view is that this issue has been whipped up only to save Maduro's presidency, due for expiry next year. Nevertheless, the timing of the escalation underlines the difference that natural resources can make to the economic and political importance of a region. The Arabian peninsula is a prime example. Once an arid and resource-scarce region, the discovery of oil in the late 1930s transformed Saudi Arabia - the kingdom occupies most of the peninsula - into a geopolitical hub, where the superpowers vie for influence. Thanks to Essequibo, Guyana has the opportunity to turn its oil reserves into 'black gold'. But the looming fear of a Venezuelan invasion and other uncertainties could force Guyana to never achieve its full economic potential. WATCH WION LIVE HERE

Guyana-Venezuela tensions: How oil discovery revived Essequibo crisis

Venezuelan President Nicolas Maduro on Thursday said the deployment of a British warship to waters off the coast of Guyana breaches the "spirit" of an agreement reached between Venezuelan and Guyanese authorities. In a statement, Venezuela's Foreign Ministry said the country "reserves all actions, within the framework of the Constitution and International Law, to defend its maritime and territorial integrity."

Venezuela launches military exercise over UK warship ‘threat’

Venezuela launches defensive exercise on border with Guyana | Essequibo crisis

WION's&nbsp;Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;<o:p></o:p>

Guyana-Venezuela tensions: How oil discovery revived&nbsp;Essequibo&nbsp;crisis<o:p></o:p>

On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force. With that, the threat of a military conflict is over - at least for now.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/guyana-venezuela-tensions-how-oil-discovery-revived-essequibo-crisis-674201">Read more here</a><o:p></o:p>

Former EU Commission President Jacques Delors, architect of euro project, dies at 98<o:p></o:p>

Jacques Delors, a key architect of the European Union's historic single currency project, died at 98 on Wednesday. <o:p></o:p>

<a href="https://www.wionews.com/business-economy/former-eu-commission-president-jacques-delors-architect-of-euro-project-dies-at-98-674182">Read more here</a><o:p></o:p>

Dollar slides to 5-month low against Euro as Fed signals possible rate cuts<o:p></o:p>

The US dollar hit a five-month low against the euro and a basket of currencies on Wednesday, driven by expectations that the Federal Reserve might consider cutting interest rates. &nbsp;<o:p></o:p>

<a href="https://www.wionews.com/business-economy/dollar-slides-to-5-month-low-against-euro-as-fed-signals-possible-rate-cuts-674246">Read more here</a><o:p></o:p>

General Motors sues San Francisco for $121 mn over alleged tax overcharge<o:p></o:p>

General Motors (GM) has initiated legal proceedings against the city of San Francisco, seeking to recover over $100 million, alleging an unjustly inflated tax bill. <o:p></o:p>

<a href="https://www.wionews.com/business-economy/general-motors-sues-san-francisco-for-121-mn-over-alleged-tax-overcharge-674218">Read more here</a><o:p></o:p>

Amazon Prime Video subscribers will soon see ads unless they pay extra in these countries<o:p></o:p>

Amazon's Prime Video subscribers will no longer enjoy the ad-free experience unless they pay an additional $3.83 (£2.99) in some countries.<o:p></o:p>

<a href="https://www.wionews.com/trending/amazon-prime-video-subscribers-will-no-longer-have-an-ad-free-experience-unless-they-pay-extra-674272">Read more here</a>

Turkey raises minimum wage by 49pc amid soaring inflation<o:p></o:p>

In a bid to alleviate the mounting pressure of soaring living costs, Turkey has announced a substantial 49 per cent increase in the minimum wage for the upcoming year.&nbsp;<o:p></o:p>

<a href="https://www.wionews.com/business-economy/turkey-raises-minimum-wage-by-49pc-amid-soaring-inflation-674277">Read more here</a><o:p></o:p>

Apple wins reprieve in smartwatch battle as appeals court lifts import ban<o:p></o:p>

Apple has secured a temporary victory in its legal tussle over smartwatches, as a US appeals court temporarily lifted a government commission's import ban imposed in a patent dispute with medical technology firm Masimo.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/apple-wins-reprieve-in-smartwatch-battle-as-appeals-court-lifts-import-ban-674287">Read more here</a><o:p></o:p>

Maersk resumes Suez Canal routes amid global shipping concerns<o:p></o:p>

Denmark's Maersk has announced the scheduling of numerous container vessels to traverse the Suez Canal and the Red Sea in the coming days, signalling a potential return to normalcy for global shipping firms.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/maersk-resumes-suez-canal-routes-amid-global-shipping-concerns-674300">Read more here</a><o:p></o:p>

China unveils plan to boost domestic demand, technological self-reliance<o:p></o:p>

China has set forth an economic agenda aimed at expanding domestic demand, ensuring a swift recovery, and promoting stable growth, according to an interim report on China's 14th five-year plan published by parliament on Wednesday. &nbsp;<o:p></o:p>

<a href="https://www.wionews.com/business-economy/china-unveils-plan-to-boost-domestic-demand-technological-self-reliance-674302">Read more here</a><o:p></o:p>

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WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Guyana-Venezuela tensions: How oil discovery revived Essequibo crisis On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Guyana-Venezuela tensions: How oil discovery revived Essequibo crisis On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force. With that, the threat of a military conflict is over - at least for now. Read more here Former EU Commission President Jacques Delors, architect of euro project, dies at 98 Jacques Delors, a key architect of the European Union's historic single currency project, died at 98 on Wednesday. Read more here Dollar slides to 5-month low against Euro as Fed signals possible rate cuts The US dollar hit a five-month low against the euro and a basket of currencies on Wednesday, driven by expectations that the Federal Reserve might consider cutting interest rates. Read more here General Motors sues San Francisco for $121 mn over alleged tax overcharge General Motors (GM) has initiated legal proceedings against the city of San Francisco, seeking to recover over $100 million, alleging an unjustly inflated tax bill. Read more here Amazon Prime Video subscribers will soon see ads unless they pay extra in these countries Amazon's Prime Video subscribers will no longer enjoy the ad-free experience unless they pay an additional $3.83 (£2.99) in some countries. Read more here Turkey raises minimum wage by 49pc amid soaring inflation In a bid to alleviate the mounting pressure of soaring living costs, Turkey has announced a substantial 49 per cent increase in the minimum wage for the upcoming year. Read more here Apple wins reprieve in smartwatch battle as appeals court lifts import ban Apple has secured a temporary victory in its legal tussle over smartwatches, as a US appeals court temporarily lifted a government commission's import ban imposed in a patent dispute with medical technology firm Masimo. Read more here Maersk resumes Suez Canal routes amid global shipping concerns Denmark's Maersk has announced the scheduling of numerous container vessels to traverse the Suez Canal and the Red Sea in the coming days, signalling a potential return to normalcy for global shipping firms. Read more here China unveils plan to boost domestic demand, technological self-reliance China has set forth an economic agenda aimed at expanding domestic demand, ensuring a swift recovery, and promoting stable growth, according to an interim report on China's 14th five-year plan published by parliament on Wednesday. Read more here WATCH WION LIVE HERE

WION Business Wrap | Guyana-Venezuela tensions, The Dollar’s 5-month low, General Motors & more

The UK is preparing to send a warship to Guyana in a show of diplomatic and military support for its former colony. This as Venezuela renews its claim for a disputed part of Guyanese territory, known for its oil & minerals reserves.

Gravitas | Britain's grandstanding in South America? UK to send warship to Guyana | Here's Why

The United Kingdom is preparing to send a warship to Guyana in a show of diplomatic and Military Support for the former British colony. The move comes amid an escalating territorial dispute with Venezuela.

Venezuela-Guyana dispute: UK extends diplomatic & military support for Guyana

The swap includes notorious key ally of Nicolas Maduro. Some of the Americans who were freed by Venezuelan President Nicolas Maduro's government in a U.S. prisoner swap have landed at a U.S. military base in San Antonio, Texas, a Reuters witness said.

US-Venezuela prisoner swap: Who is fat Leonard?

Alex Saab, a Colombian businessman, is at the heart of a high-profile US-Venezuela prisoner swap. A close aide to Venezuelan President Nicolas Maduro, Saab has faced charges of money laundering and corruption. His 2020 arrest in Cape Verde and subsequent extradition to the U.S. sparked international debate over his diplomatic status. Recently, U.S. President Joe Biden's decision to grant clemency to Saab led to Venezuela releasing several Americans and opposition figures.

Gravitas: Who is Alex Saab, the Maduro ally Biden gave clemency to?

Venezuela freed dozens in the recent Prisoner swap with the US. The deal brokered by the Gulf state of Qatar. The prisoner exchange deal between the US and Venezuela involved the exchange of defense contractor "Fat Leonard" and Maduro ally Alex Saab. Fat Leonard masterminded the US military's biggest bribery scandal. He bribed US Navy officials with $500,000 in gifts. Watch the video to know more!

Venezuela's 'Fat Leonard' freed in recent prisoners swap with US | World DNA | WION

The United States is preparing to release Colombian businessman Alex Saab, a close ally of Venezuelan President Nicolas Maduro in exchange for Americans jailed in Venezuelan prisons, according to multiple news reports in the Western media. CBS News reported that a deal has been reached between the two countries and Venezuela will release at least eight Americans from its jails.

Alex Saab has been accused by US prosecutors of stealing USD 350 million from Venezuela via the US, an operation that prosecutors say involved bribing government officials in Venezuela. Saab denies the charges.

In October this year, the United States relaxed some sanctions on Venezuela after the latter agreed to hold fair elections in 2024.

However, the White House has said that it was ready to pause the sanction relief unless there was progress on the issue of prisoners.

Reuters reported that US President Joe Biden was asked about the progress on prisoner exchange by reporters in Wisconsin to which he said the situation "looks good."

"It looks like Maduro, so far, is keeping his commitment on a free election. It ain't done yet. Got a long way to go. But it's good so far," said Biden as quoted by Reuters.

<h2>A major gain</h2>

Although Venezuela is releasing several American prisoners in exchange for one person, the release of Saab is being considered a major gain for Maduro. Saab's return to Venezuela was earlier seen as unlikely. But he has not yet been convicted in the US.

US Secretary of State Antony Blinken said earlier today that he was looking forward to the release of Americans from Venezuelan custody.

"We want to make sure that our fellow Americans are released. We are also focused on political prisoners in Venezuela and trying to ensure their release," said Antony Blinken.

"We hope to have some good news to share probably later today."

(With inputs from agencies)

The United States is preparing to release Colombian businessman Alex Saab, a close ally of Venezuelan President Nicolas Maduro in exchange for Americans jailed in Venezuelan prisons, according to multiple news reports in the Western media.

The United States is preparing to release Colombian businessman Alex Saab, a close ally of Venezuelan President Nicolas Maduro in exchange for Americans jailed in Venezuelan prisons, according to multiple news reports in the Western media. CBS News reported that a deal has been reached between the two countries and Venezuela will release at least eight Americans from its jails. Alex Saab has been accused by US prosecutors of stealing USD 350 million from Venezuela via the US, an operation that prosecutors say involved bribing government officials in Venezuela. Saab denies the charges. In October this year, the United States relaxed some sanctions on Venezuela after the latter agreed to hold fair elections in 2024. However, the White House has said that it was ready to pause the sanction relief unless there was progress on the issue of prisoners. Reuters reported that US President Joe Biden was asked about the progress on prisoner exchange by reporters in Wisconsin to which he said the situation "looks good." "It looks like Maduro, so far, is keeping his commitment on a free election. It ain't done yet. Got a long way to go. But it's good so far," said Biden as quoted by Reuters. A major gain Although Venezuela is releasing several American prisoners in exchange for one person, the release of Saab is being considered a major gain for Maduro. Saab's return to Venezuela was earlier seen as unlikely. But he has not yet been convicted in the US. US Secretary of State Antony Blinken said earlier today that he was looking forward to the release of Americans from Venezuelan custody. "We want to make sure that our fellow Americans are released. We are also focused on political prisoners in Venezuela and trying to ensure their release," said Antony Blinken. "We hope to have some good news to share probably later today." (With inputs from agencies)

US to release close ally of Venezuela President Maduro in exchange for US detainees

US & Venezuela swap prisoners: Who is Fat Leonard? | WION Dispatch

Venezuela: Americans freed in swap deal, Fat Leonard returned

Venezuela frees dozens, including Americans, in prisoners swap

Some of the Americans who were freed by Venezuelan President Nicolas Maduro's government in a U.S. prisoner swap have landed at a U.S. military base in San Antonio, Texas, a Reuters witness said. #us #prisonerswap #latestnews

US and Venezuela swap prisoners

Guyanese president Mohamed Irfan Ali met his Venezuelan counterpart on Thursday. Fresh tensions erupted after Venezuela released a map on the 8th of December showing the disputed area as a part of its territory. This after Venezuelans voted for the creation of a new state in a referendum defying the international court of justice's jurisdiction.

Venezuela-Guyana dispute: Presidents of Venezuela and Guyana meet amid tensions

'The last thing the world needs right now is another War,' Brazilian President Lula De Silva said while talking about the Venezuela and Guyana row over Essequibo, a resource reach region located offshore in Guyana.

Venezuela-Guyana dispute: We don't need a war in South America, says Brazilian President

Tensions between neighbouring countries of Venezuela and Guyana have escalated in recent weeks. The US is holding military drills with Guyana. The dispute is regarding a border territory around the Essequibo River.

US-Guyana conduct joint military drills amid tensions

Tension is steadily rising between Venezuela and Guyana ever since the former has renewed its claim on Essequibo- an oil-rich region in Guyana. Maduro's government held a referendum in which 95% of the voters backed their country's claim over Essequibo. Guyana called the referendum a threat. This did not stop Maduro from asking his country's oil companies to start issuing licenses for oil extraction in the Guyanese territory. The U.S. has taken a side, and the International Court of Justice has given an order. Is an oil war brewing? Listen in to Vikram Chandra.

Essequibo: Is Venezuela's Maduro starting an oil war in South America?

In a territorial dispute with neighbouring Guyana, Venezuela voters have rejected the International Court of Justice jurisdiction.

Venezuelans reject International Court of Justice ruling on border dispute ruling | WION Newspoint

In a territorial dispute with neighbouring Guyana, Venezuela's voters has rejected International Court of Justice Jurisdiction. They also back the creation of a new state.

Venezuela referendum over new state passed with 95% approval

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