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Contradicting recent reports about the program's discontinuation, the U.S.-based and Venezuelan-owned CITGO Petroleum Corporation confirmed the continuation of its U.S. heating oil program, said CITGO CEO Alejandro Granado.

To express solidarity with the Palestinian people, Venezuela expelled Israel’s ambassador, is organizing humanitarian aid, and has called on the international community to protest. In response, the Israeli government called Venezuela a terrorist state.

Venezuelan President Hugo Chavez called for the proposed amendment to the constitution that would eliminate a two-term limit to the presidency to be extended to include other elected positions. Meanwhile, over two polls publicized over the weekend showed a majority support for the amendment.

In his end of year speech Venezuelan president Hugo Chavez highlighted the advances in living standards that have been achieved, announced some key projects for the next year, and called for the continuation of the socialist project in Venezuela.

Venezuela’s economy continued to grow for a fifth consecutive year, posting an estimated 4.9 percent economic growth in 2008, according to numbers the Central Bank of Venezuela (BCV) announced on Monday.

After an announcement by the Colombian guerrilla that it would be willing to free six hostages in exchange for prisoners, Venezuela expressed its readiness to assist logistically and in the mediation, but the Colombian government has ruled out international participation in the issue.

Venezuela’s Foreign Ministry condemned the Israeli bombing of Gaza in a statement released Saturday, expressing its “profound indignation” over the “criminal attack,” and urged the Israeli government to adhere to the United Nations Charter.

Over the last decade, Venezuela’s poverty has decreased, and this has seen a corresponding decrease in inequality and an increase in over all development.

Venezuela’s telecommunications sector has grown 24 percent in recent years.

Last week the Venezuelan National Assembly announced it would investigate bribes that the company Siemens had admitted delivering to Venezuelan officials.