Misplaced Pages

#561438

76-794: The system connects the city of Los Teques with the capital city of Caracas . The Los Teques Metro is operated by Metro de Caracas – as such, it is effectively a subsidiary/extension of the Caracas Metro , and is widely viewed as part of that system. It is ascribed to the Venezuelan government and the Ministry of Infrastructure. The government of Miranda State and the mayorship of the Guaicaipuro Municipality are also financing its development. The currently operating line runs for 11.2 kilometers (7.0 mi), parallel to

152-552: A subtropical highland climate ( Cfb ) due to its elevated location within the Venezuelan Coastal Range (Maritime Andes) . Caracas precipitation varies between 900 and 1,300 millimeters (35 and 51 inches) (annual), in the city proper to 2,000 millimeters (79 inches) in some parts of the Mountain range. While Caracas is within the tropics, due to its altitude temperatures are cooler compared to other locations with

228-470: A golden shell with the red cross of Santiago; and its seal is a crown with five golden points". In the same act, the king declared Caracas as "The Most Noble and Very Loyal City of Santiago de León de Caracas". The anthem of the city is the Marcha a Caracas , written by the composer Tiero Pezzuti de Matteis with the lyrics by José Enrique Sarabia and approved in 1984. Caracas is contained entirely within

304-482: A good environment for both agricultural and arable farming, which contributed to the system of commerce but meant that the town's population was initially sparse, as it was only large enough to support a few farms. In 1577, Caracas became the capital of the Spanish Empire 's Venezuela Province under the province's new governor, Juan de Pimentel (1576–1583). In the 1580s, Caraqueños started selling food to

380-689: A growing trade of government debt securities. Stock prices, measured by the Indice Bursátil Caracas , were also depressed during the 1990s and have yet to recover to the highest ever levels experienced in 1991. According to the International Finance Corporation , the market value of the BVC was $ 7 billion in 2000, or just about 6 percent of GDP. In 2005 total transactions on the BVC totaled USD$ 438 million. BVC has been completely electronic since February 1992, when

456-414: A new operating structure composed of 43 shareholders , or puestos de bolsa , an amount that would be increased to 63 members in 1995. In 1990, with an increase of 602%, the market was the second-best performing that year (after Poland). In April 2007, 60 companies were listed on the BVC, with less than half being traded regularly. BVC experienced a severe decline in traded volumes since the mid-1990s as

532-582: A quarter of its population migrated in 1814, and the Venezuelan War of Independence continued until 24 June 1821, when Simón Bolívar defeated royalists in the Battle of Carabobo . Urban reforms only took place towards the end of the 19th century, under Antonio Guzmán Blanco : some landmarks were built, but the city remained distinctly colonial until the 1930s. Caracas grew in size, population, and economic importance during Venezuela's oil boom in

608-636: A rectangular shape. The basin is formed by the Caracas Valley, which is relatively high, narrow and long, surrounded by the high and steep Cordillera de la Costa, which runs parallel to the Litoral. Among the characteristics of the hydrographic network associated with the city of Caracas is the high degree of contamination present in the lower parts of the Guaire River due to its tributaries having been used for sewage collection since 1874, during

684-480: A result of a declining economy , the migration of stocks to the U.S. markets in the form of American Depositary Receipts (ADRs), corporate takeovers with a concomitant reduction in the number of shares available for trade and an increasing country risk that has frightened investors, particularly foreign investors. Daily trading volume decreased from the equivalent of $ 25 to $ 30 million in 1997 to less than $ 1 million by 2000. The BVC survived during this period thanks to

760-670: A state-run organization, is the largest company in Venezuela, and negotiates all the international agreements for the distribution and export of petroleum. When it existed, the airline Viasa had its headquarters in the Torre Viasa. Several international companies and embassies are located in El Rosal and Las Mercedes , in the Caracas area. The city also serves as a hub for communication and transportation infrastructure between

836-575: A sudden nightly drop in temperature, until reaching 8 °C (46 °F). This peculiar weather is known by the natives of Caracas as the Pacheco . In addition, nightly temperatures at any time of the year are much (7 to 11 °C) lower than daytime highs and usually do not remain above 24 °C (75 °F) , resulting in very pleasant evening temperatures. Hailstorms appear in Caracas, although only on rare occasions. Electrical storms are much more frequent, especially between June and October, due to

SECTION 10

#1732775756562

912-549: A third of its land, in poorly-planned slums that are generally dangerous to live in and access. Caracas has exceeded the administrative limits of its perimeter due to accelerated population growth, so that its most suitable demographic study territory is the Metropolitan District or AMC. According to 2011 calculations by the National Institute of Statistics, the metropolitan city had a population for

988-410: A typical tropical savanna climate. The annual average temperature is approximately 23.4 °C (74 °F), with the average of the coldest month (January) 21.7 °C (71 °F) and the average of the warmest month (May) 24.5 °C (76 °F), which gives a small annual thermal amplitude of 2.8 °C (5.0 °F). In the months of December and January abundant fog may appear, in addition to

1064-541: A valley of the Venezuelan Central Range , and is separated from the Caribbean coast by a roughly 15-kilometer (9 mi) expanse of El Ávila National Park . The valley is relatively small and quite irregular, and the altitude varies from between 870 and 1,043 meters (2,854 and 3,422 ft) above sea level ; the historic center lies at about 900 meters (3,000 feet) above sea level. This, along with

1140-405: Is 4,00 bolívares Bs.F for a one way ride and the price includes a subway ride within the Caracas Metro network. Los Teques Metro was provided with an integrated operation control centre , command and communications by Thales . Construction of the extension formally started March 20, 2007. This extension known as Line 2 to the system will be 12 km (7.5 mi) with 3 new stations within

1216-702: Is a stock exchange located in Caracas , Venezuela . Established in 1947, BVC merged with a competitor in 1974. BVC is a private exchange, providing operations for the purchase and authorized sale of securities according to the Capital Marketing Laws of Venezuela. It is member of the Executive Committee of the Latin American Federation of Stock markets. At the exchange, companies emit by procedures authorized by

1292-454: Is a public university founded in 1721: it is the oldest university in Venezuela. The university campus was designed by architect Carlos Raúl Villanueva and declared a UNESCO World Heritage Site in 2000. The Simón Bolívar University ( Universidad Simón Bolívar , USB) is a public institution in Caracas that focuses on science and technology. Caracas Stock Exchange The Caracas Stock Exchange or Bolsa de Valores de Caracas (BVC)

1368-471: Is based upon a fixed currency-exchange-rate of 2003 and might not be completely realistic, due to the elevated inflation rates of the last several years. In 2013, the World Economic Forum evaluated countries in terms of how successful they were in advertising campaigns to attract foreign visitors. Out of the 140 countries evaluated, Venezuela came last. A major factor that has contributed to

1444-478: Is called ranchos, built improvised, without any official planning, with deficiencies and inadequate materials, marking a difference between those who live in the valley proper, 45% of the population in 25% of the urban area lives in these settlements. The city center, developed around a small historic center, represents less than a quarter of the total area of the city, which has spread along the valley and has also been connected in recent years with satellite cities in

1520-641: Is the capital and largest city of Venezuela , and the center of the Metropolitan Region of Caracas (or Greater Caracas). Caracas is located along the Guaire River in the northern part of the country, within the Caracas Valley of the Venezuelan coastal mountain range (Cordillera de la Costa). The valley is close to the Caribbean Sea , separated from the coast by a steep 2,200-meter-high (7,200 ft) mountain range, Cerro El Ávila ; to

1596-609: Is the largest private company in Venezuela. Caracas is also Venezuela's cultural capital, with many restaurants, theaters, museums, and shopping centers. Caracas has some of the tallest skyscrapers in Latin America, such as the Parque Central Towers . The Museum of Contemporary Art of Caracas is one of the most important in South America. Before the city was founded in 1567, the valley of Caracas

SECTION 20

#1732775756562

1672-798: The Brígido Iriarte Stadium , home to Atlético Venezuela, with a capacity of 12,000 spectators. In basketball, the Cocodrilos de Caracas play their games in the Gimnasio José Beracasa in the El Paraíso neighborhood. Caracas is the seat of the National Institute of Sports and of the Venezuelan Olympic Committee . The city hosted the 1983 Pan American Games . The Central University of Venezuela ( Universidad Central de Venezuela , UCV)

1748-554: The Caracas Museum of Contemporary Art ; and the Teresa Carreño Cultural Complex were built, as well as the Caracas Metro and a developed downtown area. Urban development was rapid, leading to the growth of slums on the hillsides surrounding the new city. Much of the city development also fell into disrepair come the end of the 20th century, with the 1980s oil glut and political instability like

1824-548: The Caracazo , meaning maintenance can not be sustained. The economic and social problems persist throughout the capital and country, characterized as the Crisis in Venezuela . By 2017, Caracas was the most violent city in the world. The coat of arms was adopted in 1591. Simón de Bolívar, an ancestor of Venezuelan liberator Simón Bolívar, had been named the first procurator general of the Venezuelan province in 1589. He served as

1900-457: The Casa de Bolsa y Recreación de los Comerciantes y Labradores in Caracas. The exchange was officially founded on January 21, 1947 and inaugurated its first trading session on April 21 of the same year, after previously trading stocks over the counter. On May 6, 1976, the assembly of shareholders decided to change the denomination of the institution to Bolsa de Valores de Caracas C.A. , and initiated

1976-627: The Dutch Empire , which Caraqueños later proved sympathetic to; by the 1670s, Caracas had a trading route through Curaçao . In 1728, the Guipuzcoan Company of Caracas was founded by the king, and the cacao business grew in importance. Caracas was made one of the three provinces of Nueva Granada , corresponding to Venezuela, in 1739. Over the next three decades the Viceroyalty was variously split, with Caracas province becoming

2052-570: The Iraq War , and in 2012 there were 13,080 murders in Venezuela, according to the United Nations Office on Drugs and Crime . By 2019, Caracas was the city with the sixth highest homicide rate in the world outside of a warzone , with a rate of around 76 murders per 100,000 people. In 2023 it was the nineteenth , with a rate of around 52 murders per 100,000 people. Most murders and other violent crimes go unsolved, with estimates of

2128-521: The San Pedro River , establishing a link between Las Adjuntas and Independencia Station. The subway plans date back to 1982 when it was first proposed. However, it wouldn't be until October 19, 1998 when the Metro de Los Teques transit corporation was created (now defunct) in order to carry out management, administrative duties and civil works related to the project. It was supposed to alleviate

2204-469: The 1540s, the colony had been de facto controlled by Spaniards. Moving eastward from Coro, groups of Spanish settlers founded inland towns including Barquisimeto and Valencia before reaching the Caracas valley. On 25 July 1567, Captain Diego de Losada laid the foundations of the city of Santiago de León de Caracas . De Losada had been commissioned to capture the valley, and was successful by splitting

2280-530: The 1960s, President Rómulo Betancourt followed the same policy as the Marcos Pérez Jiménez government: promoting immigration, especially from Latin America and from other parts of the world. These policies were maintained until the late 1980s, with a notable influx of Argentines, Uruguayans, Chileans, Cubans, Peruvians, Ecuadorians, Chinese, and Arabs. Towards the beginning of the 1980s, immigration

2356-465: The 2011 census of 2,923,959 inhabitants. The Metropolitan District represents less than 1% of the national territory and is home to one-fifteenth of the total population of the country. In percentage numbers, 9.2% of the nation's total population lives in the five capital municipalities, out of the 335 municipalities that comprise the country. The region is called Greater Caracas or Metropolitan Region of Caracas (RMC) satellite cities or adjacent bedrooms:

Los Teques Metro - Misplaced Pages Continue

2432-584: The Altos Mirandinos, the Central Coast of La Guaira, Guarenas, Guatire and the Valles del Tuy. This agglomeration had an estimated population of 4.3 million inhabitants in 2011. In the 20th century, an exodus of the peasantry to the capital and other cities intensified, motivated by a search for improvements in their quality of life. This led to depopulation of the rural areas of the country and

2508-867: The Capital District is a government system constituted by an executive body exercised by a Head of Government, and the legislative function will be in charge of the National Assembly. Before the creation of the Metropolitan District, the Federal District (current Capital District) had a governor appointed by the President of the Republic, while the Caracas municipalities of the State of Miranda governed with their respective mayors in isolation, without any coordinating entity. In April 2009,

2584-551: The Caracas Stock Exchange is presided over by Víctor Julio Flores. Additional members include Santiago Fernández Castro, Marcel Apeloig, Omar Delgado, José Gregorio Castro, Gabriel Osío, Jesús Tadeo Prato, Luis Oberto, Carlos Fernández and Mario Dickson, as well as by advisers Luis Andrés Guerrero and Rubén Manzur. The origins of the Venezuelan stock market can be traced to the end of the colonial era, when in 1805 Don Bruno Abasolo and Don Fernando Key Muñoz founded

2660-557: The Hotel Alba Caracas. The cost for the general maintenance of the north and south towers of the hotel is approximately 231.5 million Venezuelan bolivars. Although the Venezuelan Ministry of Tourism has taken the initiative to recognize the importance of the tourism industry, the Venezuelan government has not placed the tourism industry as an economic priority. In 2013, the budget for the Ministry of Tourism

2736-627: The Metropolitan District of Caracas would be created and that some of the powers of the Libertador , Chacao , Baruta , Sucre , and El Hatillo municipalities would be delegated to the Alcaldía Mayor , physically located in the large Libertador municipality, in the center of the city. The Metropolitan District of Caracas was suppressed on 20 December 2017 by the Constituent National Assembly of Venezuela . In

2812-602: The Middle East, Germany, China, and other Latin American countries. The Simón Bolívar Symphony Orchestra is based in Caracas. Originally a youth orchestra, it is connected with the Fundación Musical Simón Bolívar (FMSB), known colloquially as El Sistema , Venezuela's social action music programme. The Guardian wrote that the orchestra represented "a message of social inclusion and

2888-721: The National Assembly reformed the Capital District Law, legalizing the constitution of a Head of Government or Governor for the Libertador municipality designated by the National Executive. Using as an argument what is established in article 156 of the constitution: Article 156. It is the competence of the National Public Power: 10. The organization and regime of the Capital District and federal dependencies. The city of Caracas occupies

2964-596: The Spanish soldiers in Cartagena , who often docked in the coastal city when collecting products from the empire in South America. Wheat was growing increasingly expensive in the Iberian Peninsula , and the Spanish profited from buying it from Caracas farmers. This cemented the city in the empire's trade circuit. During the 16th and 17th centuries, the coast of Venezuela was frequently raided by pirates. With

3040-696: The Statutory Law of Public Credit ( Ley Orgánica de Crédito Público ), the Law of Organizations of Collective Investment and the norms dictated by the National Exchange Commission ( Comisión Nacional de Valores , or CNV). Exchange activities are regulated and supervised by the National Exchange Commission, a public entity assigned to the Ministry of Finance , that authorizes internal procedures and regulations. The Board of Directors of

3116-474: The Venezuela province. Luis de Unzaga created the Captaincy General of Venezuela in the summer of 1777, with Caracas as the capital. Venezuela then attempted to become independent, first with the 1797 Gual and España conspiracy , based in Caracas, and then the successful 1811 Venezuelan Declaration of Independence . Caracas then came under worse luck: in 1812, an earthquake destroyed Caracas ,

Los Teques Metro - Misplaced Pages Continue

3192-510: The bridges until reaching Las Adjuntas . It is estimated that the project cost was about 800 million US dollars. The metro system began with restricted operations: The second rail within the same tunnel was formally inaugurated October 22, 2007. Trial and testing period continued with additional trains and full 7 day service from 5:10 a.m. until 11:00 p.m. implemented on November 19, 2007. The 9.5-kilometer (5.9 mi) ride between Las Adjuntas and Independencia as of July 5, 2015

3268-556: The case of the Libertador Municipality of Caracas, the only member of the Capital District, the executive authority rests with the Head of Government of the Capital District, a position designated by the President of the Republic. According to Article 3 of the Capital District Law, the legislative function is exercised directly by the Republic through the National Assembly of Venezuela. Article 3. The special regime of

3344-502: The city being in a closed valley and the orographic action of Cerro El Ávila. The hydrographic network of the city of Caracas is made up of the Guaire river basin which is a sub-basin of the Tuy river. This basin crosses the valley where the city is located from West to East (Las Adjuntas – Petare ). It covers about 655 square kilometers, about 45 km. long and about 15 km. wide, has

3420-406: The city has a large number of both European Venezuelans and Asian Venezuelans who descend from the massive influx of various immigrants Venezuela received from all across Eurasia during the 20th century; in particular are descendants of Spaniards, Portuguese, Italians, Serbs , Chinese, Colombians, Germans, Syrians and Lebanese people. In 2020, the poorest 55% of the Caracas population lived on about

3496-428: The city of Caracas, as well as the municipal mayors in each of the municipalities comprising it. The Metropolitan District of Caracas was organized in a system of municipal government at two levels: the metropolitan or district and the municipalities. Caracas is Venezuela's cultural capital , with many restaurants, theaters, museums, and shopping centers. The city is home to many immigrants from Spain, Italy, Portugal,

3572-731: The city, 2 in nearby communities and finally terminating in San Antonio de Los Altos with the central Los Teques stations. Line 4 adds four stations that are currently under construction are: Line 3 has been proposed 18.5 km (11.5 mi). It will commence from San Antonio and connect some communities before looping towards the La Rinconada Caracas Metro Station. Caracas Caracas ( / k ə ˈ r æ k ə s , - ˈ r ɑː k -/ kə- RA(H)K -əs , Spanish: [kaˈɾakas] ), officially Santiago de León de Caracas ( CCS ),

3648-543: The city. The city is occasionally subject to earthquakes – notably in 1641 and 1967. Geologically, Caracas was formed in the Late Cretaceous period, with much of the rest of the Caribbean, and sits on what is mostly metamorphic rock . Deformation of the land in this period formed the region. Under the Köppen climate classification , Caracas has a tropical savanna climate ( Aw ), but also exhibits traits of

3724-560: The coastal mountains of the Central Range as a barrier, Caracas was relatively immune to such attacks, compared to other Caribbean coastal settlements, but in 1595 the Preston–Somers expedition landed and around 200 English Privateers , including George Somers and Amyas Preston , crossed the mountains through a little-used pass while the town's defenders were guarding the more frequently used one. Encountering little resistance,

3800-432: The communities of Charallave and Cúa de los Valles del Tuy with the subway transportation of the capital city. Some areas of the city have a grid layout, either inherited from the colony or developed during the urban projects of the 20th century. Other areas, built on the mountain slopes, do not follow this pattern, but adapt to the irregularities of the terrain. These elevated areas enjoy a temperate temperature throughout

3876-564: The congestion of the Panamerican Highway and ease commuting between the two cities, because of their proximity. The operation was subsequently taken over by Metro de Caracas and plans were extended to include expansion to San Antonio and a 3rd line to connect to 2nd point in Caracas. Construction for the first phase began in 2001 with works including the canalization of the San Pedro River, the tunneling and building of

SECTION 50

#1732775756562

3952-560: The country, such as Valencia, which in the same period of time multiplied its population almost 25 times. Between the 1940s and 1950s, after the Second World War, a growing wave of European immigrants began, mostly Spanish, Portuguese and Italians and in other magnitudes, communities of Germans (Colonia Tovar), French, English, Serbs and Jews were established. New developments in Caracas were populated mainly by these European immigrants, such as La Florida and Altamira . During

4028-501: The demographic saturation of the centers. This saturation caused the expansion of marginal areas on the outskirts of the city; however, the lowest unemployment rates in the entire country correspond precisely to the metropolitan area of Caracas. In 1936, the total population of Venezuela had been equal to the estimated population of Greater Caracas for the year 2000: almost 4 million inhabitants. From 1936 to 1990, Caracas multiplied its population, although far less than any other major city in

4104-462: The early 20th century. In the 1950s, the metropolitan area of Gran Caracas was developed, and the city began an intensive modernization program, funding public buildings, which continued throughout the 1960s and early 1970s. Cultural landmarks, like the University City of Caracas , designed by modernist architect Carlos Raúl Villanueva and declared a World Heritage Site by UNESCO in 2000;

4180-437: The entirety of the Libertador municipality of the Capital District and part of the state of Miranda, specifically the municipalities of Baruta, Chacao, El Hatillo and Sucre, which until 2011 formed the Metropolitan District of Caracas, which enjoyed legal personality and autonomy within the limits of the Constitution and the law. Until that year, the Metropolitan Mayor was the first civil, political and administrative authority of

4256-428: The first of the Spanish colonies to become part of the slave trade . The city was successful and operated on cacao and slave trade until the 1650s, when an alhorra blight, the Mexican Inquisition of many of their Portuguese traders, and increased cacao production in Guayaquil greatly affected the market. This and the destructive 1641 earthquake put the city into decline, and they likely began illegally trading with

4332-460: The government of Antonio Guzmán Blanco, until today. The level of contamination is such that it does not allow the maintenance of the life of the species that once populated the basin, and it has become extinct or has been restricted to the highest areas of the basin, mainly within the boundaries of the national park. Avila. Awareness for the recovery of the basin has recently begun, however, much remains to be done before results can be observed. Among

4408-457: The invaders sacked and set fire to the town after a failed ransom negotiation. The city managed to rebuild, using wheat profits and "a lot of sacrifice". In the 1620s, farmers in Caracas discovered that Cacao beans could be sold, first selling them to native people of Mexico and quickly growing across the Caribbean . The city became important in the Viceroyalty of New Spain , as well as moving from largely native slave labor to African slaves,

4484-418: The lack of foreign visitors has been poor transport for tourists. Venezuela has limited railway systems and airlines. High crime rates and the negative attitude of the Venezuelan population towards tourism also contributed to the poor evaluation. In an attempt to attract more foreign visitors, the Venezuelan Ministry of Tourism invested in multiple hotel infrastructures. The largest hotel investment has been in

4560-425: The main rivers and streams that make up the basin are in its northern slope: San Pedro River, Macarao River, Quebrada Caroata, Catuche River, Anauco River, Chacaito River, Tocome River, Caurimare River; on its southern slope we find that among the main tributaries are: El Valle river, Quebrada Baruta and Quebrada La Guairita. In the upper part of the basin there are two reservoirs with the purpose of supplying water to

4636-420: The manifest power of music to bring communities together". Professional sports teams in the city include the football clubs Caracas Fútbol Club , Deportivo Petare , Atlético Venezuela , SD Centro Italo Venezolano , Estrella Roja FC and Deportivo La Guaira . Deportivo Petare has reached the semi-finals of international tournaments, such as the Copa Libertadores , while the Caracas Fútbol Club has reached

SECTION 60

#1732775756562

4712-439: The metropolitan area and the rest of the country. Important industries in Caracas include chemicals, textiles, leather, food , iron, and wood products. There are also rubber and cement factories. Its nominal GDP is US$ 70 billion and the GDP (PPP) per capita is US$ 24,000. A 2009 United Nations survey reported that the cost of living in Caracas was 89% of that of the survey's baseline city, New York. However, this statistic

4788-423: The natives into different groups to work with, then fighting and defeating each of them. The town was the closest to the coast of these new settlements, and the colonists retained a native workforce, which allowed a trade network to develop between Caracas, the interior, and Margarita; the towns further inland produced ample cotton products and beeswax, and Margarita was a rich source of pearls. The Caracas valley had

4864-501: The number of unresolved crimes as high as 98%. The U.S. Department of State and British Foreign and Commonwealth Office have issued travel warnings for Venezuela due to high rates of crime. Businesses that are located in Caracas include service companies, banks, and malls, among others. It has a largely service-based economy, apart from some industrial activity in its metropolitan area. The Caracas Stock Exchange and Petróleos de Venezuela (PDVSA) are headquartered here. PDVSA,

4940-400: The quarterfinals. Baseball team Leones del Caracas plays at the Monumental Stadium with a capacity of 40,000 spectators, while the Tiburones de La Guaira plays at University Stadium , with a capacity of nearly 26,000 spectators. The football stadiums in the city include the Olympic Stadium , home to Caracas Fútbol Club and Deportivo La Guaira, with a capacity of 30,000 spectators, and

5016-559: The rapid population growth, has profoundly influenced the urban development of the city. The most elevated point of the Capital District, wherein the city is located, is the Pico El Ávila , which rises to 2,159 meters (7,083 feet). The main body of water in Caracas is the Guaire River , which flows across the city and empties into the Tuy River , which is also fed by the El Valle and San Pedro rivers, in addition to numerous streams which descend from El Ávila. The La Mariposa and Camatagua  [ es ] reservoirs provide water to

5092-421: The region led by Terepaima and Guaicaipuro . Fajardo's 1560 settlement was known as Hato de San Francisco, and another attempt in 1561 by Juan Rodríguez de Suárez was called Villa de San Francisco, and was also destroyed by the same native people. The eventual settlers of Caracas came from Coro , the German capital of their Klein-Venedig colony around the present-day coastal Colombia–Venezuela border ; from

5168-473: The regulating authorities, instruments of fixed income and securities ( renta fija y de renta variable ) with the purpose of securing capital from public investors . BVC is also used as a location for trading in Bonds and other debt instruments. The legal structure prevailing in the Venezuelan capital market are the Securities Marketing Law ( la Ley de Mercado de Capitales , enacted in 1975 and amended in 1998), Transaction Law ( Ley de Caja de Valores ),

5244-408: The representative of Venezuela to the Spanish Crown, and vice versa. In 1591, de Bolívar introduced a petition to King Philip II for a coat of arms, which he granted by Royal Cedula on 4 September that year in San Lorenzo. The coat of arms represents the city's name with the red Santiago (St. James') cross . It originally depicted "a brown bear rampant on a field of silver, holding between its paws

5320-605: The south there are more hills and mountains. The Metropolitan Region of Caracas has an estimated population of almost 5 million inhabitants. The historic center of the city is the Cathedral , located on Bolívar Square , though some consider the center to be Plaza Venezuela , located in the Los Caobos area. Businesses in the city include service companies, banks, and malls. Caracas has a largely service-based economy, apart from some industrial activity in its metropolitan area. The Caracas Stock Exchange and Petróleos de Venezuela (PDVSA) are headquartered in Caracas. Empresas Polar

5396-437: The states of Miranda and La Guaira, creating a major metropolitan area known as Gran Caracas. The city's rapid population growth has resulted in increasing traffic congestion . To this end, the subway transportation system (Metro de Caracas) has been progressively expanded and is currently linked to the Los Teques Metro and, in the future, to the Guarenas-Guatire Metro system. The "Ezequiel Zamora" Central Railway System also links

5472-562: The western part of the city; These are the Macarao Dam and the La Mariposa Reservoir. Caracas shares commonalities with many Latin American cities: densely populated and with limited space because it is surrounded by mountains. Because of this, the city has grown vertically. A very striking aspect is the number of people living in substandard housing built on the mountain slopes surrounding the city. This type of housing

5548-444: The year. According to the population census of 2011 the Caracas proper (Distrito Capital) is over 1.9 million inhabitants, while that of the Metropolitan District of Caracas is estimated at 2.9 million as of 2011 . The majority of the population is mixed-race , typically with varying degrees of European , Indigenous , African and occasional Asian ancestry. There is a noteworthy Afro-Venezuelan community. Additionally,

5624-400: Was marked by a strong exodus of Colombians. The multiethnic, cultural and racial mix has marked the city throughout history. Its ethnic composition is very diverse. Venezuela and its capital, Caracas, have been reported to both have among the highest per capita murder rates in the world. In 2010 Caracas had the highest murder rate in the world, having more deaths than Baghdad during

5700-549: Was only 173.8 million bolivars, while the Ministry of the Youth received approximately 724.6 million bolivars. The tourism industry in Venezuela contributes approximately 3.8 percent of the country GDP. The World Economic Forum predicts Venezuela's GDP to rise to 4.2 percent by 2022. On 8 March 2000, the year after a new constitution was introduced in Venezuela, it was decreed in Gaceta Official N° 36,906 that

5776-412: Was populated by indigenous peoples. Francisco Fajardo , the son of a Spanish captain and a Guaiqueri cacica , who came from Margarita , began establishing settlements in the area of La Guaira and the Caracas valley between 1555 and 1560. Fajardo attempted to establish a plantation in the valley in 1562 after these unsuccessful coastal towns, but it did not last long: it was destroyed by natives of

#561438