GO
Loading...

Hugo Chavez

More

  • CARACAS, March 19- Venezuela will seek to reduce a $46 million compensation claim it has been ordered to pay to oil service company Tidewater in a case stemming from the 2009 seizure of vessels, its oil minister said in an interview published on Thursday. The lawyer representing Venezuela said the award was significantly lower than what Tidewater had claimed...

  • CARACAS, March 18- Venezuela asked a World Bank tribunal on Wednesday to toss out an order that it pay Swiss airport operator Flughafen Zurich AG and a Chilean partner around $36 million for the government takeover of airport facilities they operated in the country a decade ago. He said the request was filed with the World Bank's International Center for...

  • CARACAS, March 18- Venezuela asked a World Bank tribunal on Wednesday to toss out an order that it pay Swiss airport operator Flughafen Zurich AG and a Chilean partner nearly $36 million for the government takeover of airport facilities they operated in the country a decade ago. He said the request was filed with the World Bank's International Center for...

  • CARACAS, March 16- Venezuela's government has told the country's food industry that it is limiting dollar disbursements for food imports so that it can pay down foreign debt amid low oil prices, according to two sources with direct knowledge of the situation. At the same time, concerns Venezuela could default on foreign debt have pushed its yields to the second...

  • CARACAS, March 15- Venezuela's parliament granted President Nicolas Maduro decree powers on Sunday for the rest of 2015 in a move he says is to defend the country from U.S. meddling but opponents decry as evidence of autocracy. In a noisy National Assembly session, ruling Socialist Party legislators, who have a majority, applauded the "Enabling Law" as a legitimate...

  • CARACAS, March 15- A World Bank tribunal has ordered Venezuela to pay oil service company Tidewater around $46 million in compensation for seized vessels, in a decision the South American country hailed as a victory. "The much higher amounts claimed were rejected because the tribunal found that the nationalization was lawful," lawyer George Kahale, who...

  • CARACAS, March 13- Venezuela said on Friday it has started the process of filing for the annulment of an award that orders the South American country to pay U.S. bottle maker Owens-Illinois $455 million in compensation for nationalizations. Seeking an annulment will automatically stay the award, Venezuela added, buying the cash-strapped OPEC nation time as it...

  • CARACAS/ HOUSTON, March 13- A subtle change in office attire may be the most telling symbol of a quiet revolution taking place inside Venezuela's troubled economic engine, giant oil firm PDVSA. New posters inside its Caracas headquarters request employees don normal office wear, visitors say, a telltale sign of what could be the most sweeping changes in over a...

  • Venezuela's Maduro says may go to U.S. to challenge Obama Thursday, 12 Mar 2015 | 10:23 PM ET

    CARACAS, March 12- Ridiculing the U.S. qualification of Venezuela as a security threat, President Nicolas Maduro said on Thursday he may travel to Washington to challenge American counterpart Barack Obama. In the worst flare-up between the ideological enemies since Maduro took power in 2013, Washington earlier this week declared a "national emergency" over "...

  • CARACAS, March 12- U.S. bottle maker Owens-Illinois said on Thursday it had been awarded over $455 million in a nationalization claim against Venezuela, though a lawyer for the South American country said it was likely to seek an annulment. "If Venezuela fails to meet its obligations, OIEG will seek to enforce the award against Venezuela's assets around the world...

  • CARACAS, March 12- U.S. bottle maker Owens-Illinois said on Thursday it had been awarded over $455 million in an arbitration claim against Venezuela for the nationalization of its subsidiary's operations in 2010.. "If Venezuela fails to meet its obligations, OIEG will seek to enforce the award against Venezuela's assets around the world or find alternative...

  • Mind your manners, Venezuela tells U.S. official Jacobson Wednesday, 11 Mar 2015 | 3:31 PM ET

    CARACAS, March 11- Venezuela's top diplomat called a senior U.S. official "petulant" and ill-mannered on Wednesday in response to her contention that sanctions were intended to change the government, not topple it. Foreign Minister Delcy Rodriguez was responding to State Department Assistant Secretary of State Roberta Jacobson's comments explaining a U.S....

  • CARACAS, March 10- Venezuela's central bank is in talks with Wall Street banks to create a gold swap that would allow it to monetize some $1.5 billion of the metal held as international reserves, according to government sources familiar with the operation. The banks and Venezuela's central bank did not immediately respond to requests for comment.

  • CARACAS, March 10- President Nicolas Maduro was seeking special decree powers from Venezuela's parliament on Tuesday in response to new U.S. sanctions, drawing opposition protests of a power-grab. Opposition leaders slammed Maduro, saying he was using the worst flare-up with Washington of his nearly two-year rule to justify autocratic governance,...

  • CARACAS, March 10- President Nicolas Maduro was seeking special decree powers from Venezuela's parliament on Tuesday in response to new U.S. sanctions, drawing opposition protests of a power-grab. Opposition leaders slammed Maduro, saying he was using the worst flare-up with Washington of his nearly two-year rule to justify autocratic governance,...

  • NEW YORK/ MANAGUA, March 1- Venezuela, once a proud exporter of premium coffee, has been reduced to swapping crude oil for growing volumes of Nicaraguan coffee beans to make sure worsening economic turmoil does not prevent people from getting their caffeine fix. Falling coffee production and near-record demand has forced it to buy more higher-priced foreign...

  • CARACAS, Feb 25- Venezuela has requested the annulment of a World Bank tribunal award that orders it pay Exxon Mobil Corp $1.6 billion in compensation for nationalizations, both sides said on Wednesday. The move contrasts with October, when Venezuela deemed the award a victory for its sovereignty and oil workers were shown on TV celebrating.

  • CARACAS, Feb 25- Venezuela has requested the annulment of a World Bank tribunal award that orders it pay Exxon Mobil Corp $1.6 billion in compensation for nationalizations, both sides said on Wednesday. "Venezuela has filed an application for annulment," the country's lawyer George Kahale told Reuters in an email, adding he didn't know yet when the tribunal was...

  • CARACAS, Feb 19- The U.S.-based owner of a supermarket chain taken over by Venezuela's socialist government hopes to recover his business despite accusations of hoarding goods to inflate shopping lines. Dia Dia owner Jose Vicente Aguerrevere, a Venezuelan who now lives in Boston after spending most of his life in Europe and the United States, told Reuters by...

  • Venezuela to announce change in fuel policy 'soon' Friday, 13 Feb 2015 | 10:13 PM ET

    CARACAS, Feb 13- Venezuela will announce a change of policy soon on gasoline, the finance minister said in an interview broadcast on Friday, signaling the OPEC nation is moving ahead with along-awaited hike in the world's cheapest fuel. Gasoline is so heavily subsidized in Venezuela that one U.S. cent buys about 5 gallons, costing the government as much as $12...