David Rees, emerging markets economist at Capital Economics, discusses the Venezuelan economy and says that President Maduro shows no signs of implementing the reforms that are needed.» Read More
That Clorox plans to exit the Venezuelan market might be a boon for the home cleaning products maker, says CNBC's Jim Cramer.
CARACAS, Venezuela— A popular cartoonist said she lost her job over her representation of the late Hugo Chavez's iconic signature as a flat-lined heartbeat to dramatize Venezuela's health care crisis. More recently however, as Venezuela's economic crisis has deepened, medical supplies and medicines have disappeared, putting lives at risk.
CARACAS, Sept 17- Venezuelan bonds tumbled on Wednesday following a ratings downgrade by Standard& Poor's that cited concerns about inflation, recession and deteriorating capacity to pay. The OPEC nation's benchmark Global 27 bond fell 3.83 percent in price to bid 70.855 with a yield of 14.234.
CARACAS, Sept 16- Buses across jungle borders, boats through Caribbean waters and private flights from small airfields have become a new norm for departing Venezuela as a multi-billion dollar pay dispute turns the country into something of a' no-fly' zone.
CARACAS, Venezuela— Venezuela's chronic shortages have begun to encroach on a cultural cornerstone: the boob job. "The women are complaining," said Ramon Zapata, president of the Society of Plastic Surgeons. Only the U.S., Brazil, Mexico and Germany— all with significantly larger populations— saw more procedures.
CARACAS, Venezuela— Venezuela's president says the nighttime closure of the border with Colombia will continue for three more months as part of the government's campaign to combat smuggling of oil and food.
CARACAS, Venezuela— Venezuela's oldest newspaper says it has staved off closure by reaching a deal with a state company guaranteeing it newsprint for at least two more weeks. El Impulso announced Wednesday that it would stop circulation as of Monday because of falling advertising, mounting inflation and a lack of basic materials.
CARACAS, Venezuela— President Nicolas Maduro is reassuring foreign creditors that Venezuela's government will make good on a $4.5 billion foreign debt payment due next month.
CARACAS, Venezuela— Venezuela's oldest newspaper is shutting down because of a lack of newsprint and a difficult economic climate as the country grapples with chronic shortages. El Impulso announced Wednesday that it will stop circulation because of falling advertising, mounting inflation and a lack of basic materials.
CARACAS, Sept 10- President Nicolas Maduro is mulling a politically risky move to raise highly subsidized gasoline prices in Venezuela for the first time in 17 years, but may be put off for now by fears of a social backlash. With 95 octane gas on sale for less than two U.S. cents a liter most motorists can fill up for under $1- less than a small bottle of drinking water.
Venezuela's state-run oil company is seeking offers for its U.S. unit Citgo Petroleum in a deal that could fetch up to $10 billion.
CARACAS, Venezuela— Venezuela's central bank has acknowledged what anyone watching the prices on the shelves already knew: The South American country's inflation rate is continuing its upward march. That means something that cost $1 a year ago would cost about $1.63 today.
NEW YORK, Sept 9- Venezuela's state-run oil company PDVSA is seeking preliminary offers for its U.S. unit Citgo Petroleum Corp by the end of September, a deal that could fetch up to $10 billion, according to two people familiar with the matter.
CARACAS, Sept 3- President Nicolas Maduro has reshuffled his cabinet in a bid to boost his popularity but shows no sign of revamping Venezuela's troubled economy, meaning prospects of gasoline price hikes and a unification of Byzantine currency controls have dimmed.
CARACAS, Sept 3- Venezuelan President Nicolas Maduro has reshuffled his cabinet in a bid to boost his popularity but shows no sign of revamping the troubled economy, meaning prospects of gasoline price hikes and a unification of Byzantine currency controls have dimmed.
CARACAS, Sept 2- Venezuelan President Nicolas Maduro on Tuesday named geophysicist Eulegio Del Pino to lead state oil company PDVSA, pushing oil czar Rafael Ramirez from a job he had held for a decade. Asdrubal Chavez, cousin of the late president Hugo Chavez, also replaced Ramirez as oil and mining minister.
CARACAS, Sept 2- Venezuela's President Nicolas Maduro on Tuesday named engineer Eulegio Del Pino to lead state oil company PDVSA, pushing oil czar Rafael Ramirez from the job he had held for a decade.
CARACAS, Sept 2- Venezuela's President Nicolas Maduro on Tuesday named Asdrubal Chavez, cousin of the late president Hugo Chavez, to replace Rafael Ramirez as the new oil and mining minister.
The Middle East and other oil-producing countries are hotbeds of instability. So why is oil falling instead of rising?
NEW YORK/ BUENOS AIRES, July 29- Several hours of negotiations between Argentine officials and holdout investors ended without a resolution, Economy Minister Axel Kicillof said in New York on Tuesday, just a day before the nation faces a possible default. If a deal is not reached, Argentina faces another default on its sovereign obligations.