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Venezuela

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  • *Andorra takes control of private-owned bank BPA. ANDORRA LA VELLA, March 11- Andorra's financial authorities said on Wednesday a money laundering probe at Banca Privada D' Andorra had no implications for the rest of its banking sector, as the lender's Spanish unit also distanced itself from the case. Andorra-- a small principality and tax haven in the Pyrenees...

  • 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,...

  • CARACAS, March 9- Venezuela has called in its top diplomat in the United States for consultations after Washington earlier on Monday declared the South American country a national security threat and ordered sanctions against seven officials.

  • US slaps sanctions on Venezuelan officials Monday, 9 Mar 2015 | 12:59 PM ET
    File photo: Children walk past anti-American graffiti in Caracas. President Obama announced new sanctions against seven Venezuelans on March 8, 2015.

    The White House decried arrests made as Venezuelans protested in response to limited access to basic goods.

  • Is Venezuela on route to disaster as sanctions hit? Monday, 9 Mar 2015 | 12:38 PM ET
    A man holds a portrait of late Venezuelan President Hugo Chavez as people gather on the streets of Caracas to commemorate 15 years of the adoption of the new Venezuelan Constitution, Dec. 15, 2014.

    The U.S. tightens the screws on Venezuela just as cash-starved Caracas takes steps to stop hoarding and panic buying.

  • New sanctions on Venezuela Monday, 9 Mar 2015 | 11:56 AM ET
    New sanctions on Venezuela

    The Obama administration announces new sanctions on Venezuela and the targeting of seven specific Venezuelan officials, reports CNBC's Eamon Javers.

  • 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 28- Venezuelan President Nicolas Maduro said on Saturday his government had captured American citizens involved in "espionage activities," and said U.S. citizens in the future will have to seek visas to come to the OPEC nation. Speaking during a rally, he said his government will prohibit some U.S. officials from entering Venezuela in retaliation for...

  • Global gasoline-price subsidies evaporate Monday, 23 Feb 2015 | 9:16 AM ET
    Motorists line up at a gas station in Bali, Indonesia.

    The crash in crude prices has some governments taking a hard look at costly subsidies that have kept gas pump prices artificially low.

  • CARACAS, Feb 20- Venezuelans queued up on Friday to purchase U.S. dollars in cash at exchange houses for the first time in 12 years, though prospective buyers complained the new system was tedious and few if any had yet to emerge with greenbacks in hand. A few dozen people queued up inside an Italcambio exchange house in central Caracas on Friday in the hopes of...

  • Ford Motor Co, wrote off its entire investment in Venezuela last month when it took an $800 million pre-tax write down, the company said in response to questions from Reuters. That means no matter how much worse things get in Venezuela it shouldn't have to take further impairment charges. The slow torture of operating in Venezuela led PepsiCo to report last week a...

  • Cramer’s love-at-first-sight earning-season winner Friday, 13 Feb 2015 | 6:27 PM ET
    Colorox brand toilet bowl cleaner sits on display at a supermarket in Princeton, Ill.

    Jim Cramer has had a long time love affair with this stock, as it heads higher long term.

  • CARACAS, Feb 13- Venezuelans puzzled over the impact of a complicated currency devaluation and fretted that dire product shortages in the OPEC nation's recession-hit economy would not go away. President Nicolas Maduro's socialist government this week launched a 70 percent devaluation via a new "free floating" currency system known as Simadi, the third of...

  • CARACAS/ SAN CRISTOBAL, Feb 12- Venezuelan security forces faced off with stone-wielding protesters on Thursday as supporters of President Nicolas Maduro also rallied on the anniversary of last year's fatal unrest. The flare-ups, in the volatile western city of San Cristobal and the capital Caracas, recalled four months of protests and violence in 2014...

  • Though some portfolio managers including Pimco and Van Eck Global have pared their exposure in recent months, Venezuela remains among the largest positions for U.S. funds that focus on emerging market debt. The $4.6 billion TCW Emerging Markets Income Fund also has kept an overweight position, with 5 percent of assets invested in Venezuela.

  • CARACAS, Feb 10- Venezuela launched a "free" foreign exchange platform on Tuesday that will likely devalue the bolivar in efforts to bolster state coffers amid tumbling oil revenue, although it risks causing a spike in already soaring inflation. The change could lead to billions of dollars in write-downs by foreign corporations with exposure to Venezuela...

  • How much things cost in Venezuela now Friday, 6 Feb 2015 | 2:32 PM ET
    People line up to buy hygiene products at a drugstore in Caracas, Venezuela, Feb. 3, 2015.

    Although toilet paper and gas are cheaper in Venezuela, nearly every major product there is significantly more expensive than in the U.S.

  • Inflation and long lines at Venezuelan supermarkets Friday, 6 Feb 2015 | 1:10 PM ET
    Inflation and long lines at Venezuelan supermarkets

    Venezuelans have become increasingly frustrated by food shortages and inflations, reports CNBC's Michelle Caruso-Cabrera.

  • Venezuelan oil deal hits Caribbean hard Tuesday, 3 Feb 2015 | 2:13 PM ET
    People line up to pay inside a Makro supermarket in Caracas, Venezuela, Jan. 9, 2015.

    For struggling Caribbean nations dependent on energy subsidies from Venezuela, the crash in oil prices is not welcome news.