While Venezuela subsidizes Scotch and Barbie dolls with currency controls, medical supplies and consumer staples are in short supply.» Read More
CARACAS, Dec 23- Venezuelan shoppers line up outside a Caracas liquor store to buy bottles of Buchanan's 12- year Scotch whisky at half the usual cost, a deal made possible by a state subsidy that gave cheap dollars to import them. The same subsidy, provided under the country's three-tiered exchange control system, helps a Caracas merchant do thriving business in...
Russia's currency has nose-dived, for instance, and investors worry Venezuela could default on its debt. The world's four biggest economies— U.S., China, Japan and that of the European Union— all benefit from lower oil prices. "Economically this is a good thing for the U.S., it's a good thing for Europe, it's a good thing for China and it's a good thing for most consumers,"...
"Meet the Press" moderator Chuck Todd, discusses new U.S. relations with Cuba and its impact to American oil companies, with CNBC's Rick Santelli.
In Fitch's ratings sytem, a "CCC" rating implies "default is a real possibility."
HAVANA— Colombia's largest rebel group announced an indefinite, unilateral cease-fire Wednesday, saying guerrillas will refrain from staging attacks so long as they aren't targeted by the U.S.-backed military. The Revolutionary Armed Forces of Colombia made the announcement in Cuba at the end of another round of peace talks aimed at ending Latin...
Shares of cruise company Carnival and airliner Copa Holdings were among the stocks boosted on normalized diplomatic Cuban relations.
Lower oil prices are good for some countries and bad for others. In a few, things could get ugly.
Peruvian authorities said activists from Greenpeace damaged a patch of an ancient site when they placed a large sign that promoted renewable energy.
"Mad Money" host Jim Cramer is looking for some specific signals to spot the end of the slide.
What the heck is going on with oil? Jim Cramer can't take the slow death of oil anymore. He shares his guide to navigating this nasty commodity.
At the same event, Venezuela's foreign minister and top OPEC emissary Raphael Ramirez provided his country's answer to Naimi's question: OPEC must act, he told Reuters, because "that is our job. Ramirez said Venezuela would evaluate whether to call for an emergency OPEC meeting after seeing how oil prices perform in the first quarter. Last month, Gulf producers...
NEW YORK, Dec 9- Venezuelan sovereign bond prices plunged and the cost to insure the debt against a default surged on Tuesday in thin seasonal trading as five-year low oil prices cut the OPEC nation's cash flow, compounding already weak economic conditions. Analysts point out that Venezuela, despite all its debt, is not a heavily indebted nation.
CARACAS, Dec 10- Packing potatoes at his vegetable stand on a sun-baked street in Caracas's hillside Catia slum, Jesus Jimenez fondly recounts voting for late president Hugo Chavez. Like millions in Venezuela's poor "barrios," the chatty father of 14 worshipped the larger-than-life Chavez and benefited from his welfare programs, especially Cuban-staffed...
CNBC's Michelle Caruso-Cabrera reports on weakness in both the Russian and Venezuelan bond market as oil prices continue to pressure government bonds.
Days after OPEC decided not to give into Venezuela's plea to cut oil production, Caracas is on a cash-searching mission.
Oil prices are expected to stabilize, but OPEC will probably be forced to cut production, analysts say.
This is not a great time to be an oil producer, but some countries are hurting more than others.
NEW YORK, Dec 5- The dramatic drop in oil prices has Venezuela struggling to cover financing gaps. "If present policies are held unchanged, the market sees the height of default risk in two years time," said Michael Roche, emerging markets fixed-income analyst at the Seaport Group. Venezuela's Expected Default Frequency- Moody's market-based measure of credit...
Dan Eberhart, CEO at Canary, says there is a "battle royale" going on between OPEC and U.S. shale producers.
Ian Bremmer, Eurasia Group president, discusses the impact of oil's decline on Venezuela, Nigeria, and Russia.