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AES takes control of CA La Electricidad de Caracas (EDC)
AES takes control of CA La Electricidad de Caracas (EDC)

AES takes control of CA La Electricidad de Caracas (EDC)

15 June 2000

The unsolicited cross-border acquisition by Virginia-based AES Corporation was finally settled in mid-June, after a battle lasting nearly two months.

Reflections on recently approved Telecommunications Organic Law
Reflections on recently approved Telecommunications Organic Law

Reflections on recently approved Telecommunications Organic Law

15 June 2000

This law, which replaces the obsolete 1940 Law has been widely received as an open, modern legal instrument.

Telecommunications Bill No 36.970 published 12 June
Telecommunications Bill No 36.970 published 12 June

Telecommunications Bill No 36.970 published 12 June

12 June 2000

The aim of the law, approved on May 31 by the National Legislative Commission, is to make up for the lack of legislation since the last telecoms law, passed in 1940.

Banco Union announces merger with Banesco - May 17, 2000
Banco Union announces merger with Banesco - May 17, 2000

Banco Union announces merger with Banesco - May 17, 2000

17 May 2000

The merger of Banco Unión with Banesco's savings and loan unit, Caja Familia, will create the country's second largest bank.

Latin American Investment Guarantee Company Ltd (LAIGC) formed
Latin American Investment Guarantee Company Ltd (LAIGC) formed

Latin American Investment Guarantee Company Ltd (LAIGC) formed

14 April 2000

Corporación Andina de Fomento (CAF), the Caracas-based Andean development bank signed a joint venture agreement, incorporated on April 14, with American International Group (AIG) to form the Latin American Investment Guarantee Company Ltd.

Sweeping reforms to Income Tax Law - March
Sweeping reforms to Income Tax Law - March

Sweeping reforms to Income Tax Law - March

01 March 2000

The Income Tax Law, being prepared by the Tax Administration for adoption by Presidential Decree is still being drafted. The modifications are designed to increase tax revenues by expanding the taxable events to include new sources of territorial income (dividends).

Andean Community of Nations discusses trademarks, patents and industrial secrets
Andean Community of Nations discusses trademarks, patents and industrial secrets

Andean Community of Nations discusses trademarks, patents and industrial secrets

01 February 2000

Representatives from Colombia, Venezuela, Peru, Ecuador and Bolivia failed to reach any agreement in their meetings in January and February in Lima, but it is expected that the Andean Community will in any case increase the protection afforded to Industrial Property.

First legislation to establish a legal framework for franchises
First legislation to establish a legal framework for franchises

First legislation to establish a legal framework for franchises

07 January 2000

Resolution No. SPPLC-038-99 of July 9, 1999 came in to effect on January 7, 2000.