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Venezuela

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  • CARACAS, Oct 6- Venezuela has withdrawn money from its central bank reserves to start paying roughly $1.786 billion in debt, a high-ranking government source told Reuters on Monday, allaying fears the Socialist-run country might opt to default. Venezuela has to service roughly $1.498 billion due from its Global 2014 bond on Wednesday and about $250 million in...

  • CARACAS, Sept 30- Venezuela has kept its economic growth figures under wraps this year but empty store shelves, closed factory gates and idled construction projects tell their own story- the economy is contracting and some sectors are in deep trouble. Fedecamaras estimates the OPEC nation's economy has contracted 4 percent so far this year.

  • Sept 27- U.S. cleaning products maker Clorox Co said the Venezuelan government's takeover of two of its plants after the company pulled out of the country raised "grave concerns" about the safety of workers and surrounding communities.

  • CARACAS, Sept 26- Venezuela's famed models and aspiring beauty queens are struggling to doll themselves up as shortages turn eye shadow and breast implants into coveted luxuries. "I exhaust myself visiting pharmacies, I look everywhere for makeup," said Ileanne Davila, a 19 year-old civil engineering student and model.

  • Clorox bids Venezuela farewell to Cramer's delight Monday, 22 Sep 2014 | 9:41 AM ET

    That Clorox plans to exit the Venezuelan market might be a boon for the home cleaning products maker, says CNBC's Jim Cramer.

  • 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.

  • Venezuela in dilemma over hiking world's cheapest fuel Wednesday, 10 Sep 2014 | 9:37 AM ET

    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 PDVSA: Let's make a deal on Citgo Wednesday, 10 Sep 2014 | 8:28 AM ET
    Caracas, Venezuela.

    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.

  • 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.

  • Venezuela: 'No change' since Chavez     Thursday, 28 Aug 2014 | 4:45 AM ET

    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.

  • The oil spike that wasn't: Prices defy turmoil Thursday, 14 Aug 2014 | 7:47 AM ET
    Pump jacks and wells on the Monterey Shale formation in California

    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.

  • 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.

  • Argentina has until late Wednesday to either pay out or reach a deal with the hedge funds that are suing for full payment on their bonds to avert a second default in little over a decade in Latin America's No. 3 economy. "It's not just damage to Argentina. Regional heavyweight Brazil also backed Argentina.