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Business Venezuela

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  • CARACAS, Aug 28- Venezuelan President Nicolas Maduro on Friday said he will visit China and Vietnam to sign economic and financing deals, as the OPEC nation struggles to make ends meet at a time of low oil prices. "I leave tomorrow for Vietnam and China to seal agreements for the economic and financial security of Venezuela, and to seek support in these difficult...

  • Success stories until recently, emerging economies are seen as casualties now— of slower growth in China, plunging prices for commodities like oil and iron ore, the prospect of higher U.S. interest rates and homegrown threats. The damage has spilled across oceans, with the turmoil jolting investors in New York, Tokyo and Europe. Investors there worry that China...

  • Venezuela's telenovelas struggle back from the brink Tuesday, 18 Aug 2015 | 12:00 AM ET

    CARACAS, Venezuela— A worker on the set strikes the clapperboard to the shout of "Action!" The scene from the Spanish-language soap opera "Piel Salvaje," or "Wild Skin," would be unremarkable if not for the uphill battle the Venezuelan producers waged to get here in a country that nearly lost its telenovela industry after churning out some of Latin America's...

  • CARACAS, Aug 6- Chinese construction machinery maker Sany Heavy Industry Co Ltd is willing to help Venezuela and state oil company PDVSA sell bonds in China and in Asia, Sany chairman Liang Wengen said during a visit to Caracas on Thursday. Sany provides construction equipment to Venezuela through a bilateral oil-for-loans financing scheme under which...

  • Headhunters woo low-cost Venezuela talent amid crisis Wednesday, 5 Aug 2015 | 11:45 AM ET

    CARACAS, Aug 5- Headhunters across Latin America are tapping Venezuela for low-cost professionals as a deepening economic crisis has left many skilled workers earning less money than taxi drivers and waiters. The crisis has created a fertile market for global search firms including Korn/Ferry, Caldwell Partners and Stanton Chase as well as smaller...

  • Venezuela's strife deepens as dozens arrested Sunday, 2 Aug 2015 | 5:02 PM ET
    A bank note with the face of Venezuela's President Nicolas Maduro and the word "devaluated" at a market in Caracas.

    Venezuela's civil strife appeared to deepen over the weekend, with at least one man killed and 60 others arrested during riots, local media reported.

  • QUITO, July 31- Ecuador's state oil company Petroecuador has signed a crude oil supply agreement with a division of Thailand's state-run PTT under which the Andean country will receive a $2.5 billion up-front payment, according to a statement from the company. Petroecuador International Trade Manager Nilsen Arias confirmed the deal to Ecuador's El...

  • Venezuela troops occupy Polar, Nestle food warehouses Thursday, 30 Jul 2015 | 10:12 PM ET
    A bank note with the face of Venezuela's President Nicolas Maduro and the word "devaluated" at a market in Caracas.

    Venezuelan troops occupied warehouses used by Empresas Polar and Nestle to distribute food and beverages, workers and company officials said.

  • UNITED NATIONS, July 28- Venezuela's president Nicolas Maduro said he asked U.N. Secretary-General Ban Ki- moon for U.N. mediation in his country's century-old border dispute with neighboring Guyana. Guyana is a small former British colony of around 740,000 people on the northeast shoulder of South America.

  • CARACAS, July 13- American Airlines said on Monday it would restart its Caracas- New York route as of Dec. 17, though it added that it had not repatriated more than half a billion dollars in revenue trapped in Venezuela as a result of currency controls. American Airlines, which slashed almost 80 percent of its weekly flights to Venezuela last year over the dispute,...

  • CARACAS, July 3- Venezuela's unofficial exchange rate broke through 500 bolivars per dollar on Friday, according to a widely used website, as the socialist-run country's currency control system struggles to meet keen demand for greenbacks. "As long as they don't make the adjustments the economy needs, the rate will continue to increase," said Asdrubal Oliveros...

  • Cramer Remix: These oil stocks look cheap Thursday, 25 Jun 2015 | 7:26 PM ET
    Jim Cramer

    Looking for an oil stock to buy? “Mad Money” host Jim Cramer may have something for you.

  • Cramer—Greece is about to become the next Venezuela Thursday, 25 Jun 2015 | 6:12 PM ET
    A European Union and a Greek national flag flutter in front of the Parthenon temple in Athens February 11, 2015.

    Jim Cramer speculates that Greece will become the next Venezuela...without oil.

  • DETROIT, June 25- General Motors Co said on Thursday it will incur a $600 million charge on its second-quarter net profits because of a change in the way it values Venezuelan currency. Despite the significant challenges in Venezuela, this market continues to be very important to us. " In April, GM had announced it would likely end vehicle production in Venezuela in...

  • CARACAS, June 22- Venezuela's parliamentary election will be held on Dec. 6, authorities announced on Monday, ending lengthy speculation over the date for a vote that surveys showed was likely to punish the ruling socialists. President Nicolas Maduro's ruling Socialist Party currently enjoys a majority in the 167- seat National Assembly, but an economic...

  • CARACAS, June 12- Follow the main road, count three traffic lights, and take a left at the third. As with living-room restaurants that flourished in Havana in the 1990 s after the fall of its Soviet benefactor, Caracas is seeing a rise in clandestine dining as inventive restaurateurs seek ways to survive economic crisis, corruption and crime. This is an illegal...

  • CARACAS, June 9- Venezuela on Tuesday demanded that neighboring Guyana halt oil exploration being carried out by Exxon Mobil Corp in disputed offshore territory in an escalation of a long-running border dispute between the two South American nations. Exxon last month said it found oil off Guyana's coast, spurring complaints from Caracas that Guyana is...

  • CARACAS, June 9- Venezuela on Tuesday demanded that neighboring Guyana halt oil exploration being carried out by Exxon Mobil Corp in disputed offshore territory in an escalation of a long-running border dispute between the two South American nations. Exxon last month said it found oil off Guyana's coast, spurring complaints from Caracas that Guyana is...

  • LOS ROQUES, Venezuela, June 4- Fears of being kidnapped or not finding toilet paper are not much of an incentive for a holiday in Venezuela. That is thanks to exchange controls skewing the economy in favor of anyone with foreign currency, meaning you can hire a boat to a Caribbean island for $15 a day, or trek through Andean mountains or Amazon jungle for a week, with...

  • CARACAS, June 3- Dissenting and former members of Venezuela's ruling Socialist Party on Wednesday requested the government investigate alleged multi-billion dollar frauds they say have flourished under the South American OPEC country's strict currency controls. Marea Socialista, a small group of leftist intellectuals, as well as fringe members of the...