In this week’s roundup… The Chávez administration moved forward with the new Law of Costs, Prices and Salary Protection. It is likely to fuel more product shortages and inflation in Venezuela. After an unsuccessful attempt to persecute presidential candidate Henrique Capriles, the Venezuelan courts dropped their investigation.  Koch Industries filed an arbitration claim with the World Bank seeking compensation for the expropriation by the Venezuelan government in 2010 of one of its companies; Chavez continues to receive treatment in Cuba as his global appeal dwindles; and in Venezuela, crime and unemployment continue to hurt the average citizen.

Venezuela to oversee product prices, limit profits, Reuters

Government claims measure meant to control inflation, ensure “fair” prices. Critics say rules may fuel product shortages. Venezuela is creating a new agency to limit profit margins for companies operating in areas such as food and medicine, the vice president said on Monday, in the latest effort to boost state control over the economy.

Venezuela’s Docs Flee—So Does Chávez, The Wall Street Journal

It’s no coincidence that the president has returned to Cuba for medical attention.

If we are to believe Hugo Chávez, doctors have removed a cancerous tumor the size of a baseball from somewhere inside his body.

Election Official Says Venezuelan Courts Targeting Chavez Rivals, NASDAQ via Dow Jones Newswires

An electoral official in Venezuela said Wednesday that criminal investigations against possible challengers to President Hugo Chavez’s re-election bid suggest “a strategy of the government to choose who will be his opponent in the presidential elections.”

Venezuela court drops complaint against Chavez foe, San Francisco Chronicle via AP

Venezuela’s Supreme Court annulled a corruption complaint against a leading opponent of President Hugo Chavez on Tuesday.

World Bank to hear Koch arbitration against Venezuela, Reuters

Chavez nationalized Koch fertilizer plant in 2010. Multiple Venezuela arbitration cases outstanding. The World Bank will hear an arbitration case requested by U.S. Company Koch Industries after Venezuela’s President Hugo Chavez nationalized a fertilizer plant it owned with the OPEC nation’s state oil firm.

In Cuba, a Prayer for Chávez, The Wall Street Journal

Castro Regime’s Survival Depends Greatly on Ill Venezuelan Leader’s Largess

Venezuela’s ailing President Hugo Chávez says he is praying to Jesus Christ, the Blessed Virgin and the spirits of the Venezuelan savannah to help him beat his cancer.

Analysis: Cancer may further dim Chavez’s global influence, Reuters

Venezuelan President Hugo Chavez’s public battle with cancer has added to his global fame but it may also weaken his already waning influence in Latin America and beyond.

Unemployment rate up to 8.6%, El Universal

No matter the hike, INE President Elías Eljuri points to “effective performance” in the labor market

Unemployment rate stood at 8.6% in June 2011, based the monthly report on workforce prepared by the Venezuelan National Statistics Institute (INE

Venezuela town — home to Chávez, home to crime, Miami Herald

Oscar Pineda keeps a wary eye on the rearview mirror as he pulls up to a coffee shop. He steps inside, spots two policemen, and rushes back to his car — one of the few places he feels safe talking.For the past three years, Pineda has been engaged in a controversial activity in this agricultural town: tracking crime.