Business Venezuela

  • CARACAS, Dec 12- Venezuelans are hastily dumping the country's 100 bolivar bill because leftist President Nicolas Maduro is pulling the largest note in currency out of circulation despite having one of the world's highest inflation rates. Maduro said the withdrawal of the bill, worth two U.S. cents on the black market, was needed to reduce contraband of the...

  • CARACAS, Dec 12- Venezuelans are hastily dumping the country's 100 bolivar bill because leftist President Nicolas Maduro is pulling the largest note in currency out of circulation despite having one of the world's highest inflation rates. Maduro said the withdrawal of the bill, worth two U.S. cents on the black market, was needed to reduce contraband of the...

  • CARACAS, Dec 12- Venezuelans are hastily dumping the country's 100 bolivar bill because leftist President Nicolas Maduro is pulling the largest note in currency out of circulation despite having one of the world's highest inflation rates. Maduro said the withdrawal of the bill, worth two U.S. cents on the black market, was needed to reduce contraband of the...

  • CARACAS, Dec 12- Venezuelans are hastily dumping the country's 100 bolivar bill because leftist President Nicolas Maduro is pulling the largest note in currency out of circulation despite having one of the world's highest inflation rates. Maduro said the withdrawal of the bill, worth two U.S. cents on the black market, was needed to reduce contraband of the...

  • ABU DHABI, Dec 7- OPEC's deal to cut oil production will go ahead even if Russia becomes the only non- OPEC country to commit to reduce output at a meeting this week, Nigeria said on Wednesday, while the UAE voiced optimism that other producers would participate. "Yes, we will go ahead, but we will continue to work on the rest to come onboard," Nigerian Oil Minister Emmanuel...

  • CARACAS/ HOUSTON, Dec 6- Venezuela's largest refineries were operating below half capacity this week, prompting state-run oil company PDVSA to launch tenders for product imports amid the OPEC country's deteriorating infrastructure and ebbing crude production. The 645,000- bpd Amuay refinery was running at about 308,000 bpd, while the adjacent 310,000-...

  • Dec 5- A unit of Venezuela's state-run oil company PDVSA has asked a U.S. court to order two businessmen to compensate it for carrying out a "staggering" bribery scheme that cost the company $600 million in losses. A motion filed last Wednesday in federal court in Houston marked the first time PDVSA had formally intervened in the case, part of a U.S. Justice...

  • BUENOS AIRES/ BRASILIA, Dec 2- An increasingly isolated Venezuela accused the Mercosur trade bloc of staging a "coup" on Friday after member nations suspended the socialist nation for failing to fulfill membership requirements. In an official letter addressed to Venezuela's Foreign Minister Delcy Rodriguez and seen by Reuters, Mercosur informed Venezuela...

  • BRASILIA, Dec 2- South American trade bloc Mercosur has suspended Venezuela for failing to fulfill its membership requirements, according to a copy of an official letter sent to Caracas on Friday and seen by Reuters. In the letter, addressed to Venezuela's Foreign Minister Delcy Rodriguez, Mercosur informs Venezuela of "the cessation of the exercise of the...

  • BRASILIA, Dec 1- Venezuela will be suspended from the Mercosur regional trade bloc as early as Friday for failing to meet membership requirements, a Brazilian official said, in the latest blow to the oil-producing country during a deep political and economic crisis. According to the official, who asked for anonymity because of the sensitivity of the issue,...

  • BRASILIA, Dec 1- Venezuela will probably be suspended from the Mercosur regional trade bloc for failing to meet membership requirements, three Brazilian government sources said on Thursday, in another blow to Caracas during a deep political and economic crisis. Venezuela had until Thursday to meet requirements that included economic, human rights and...

  • BRASILIA, Dec 1- Venezuela will probably be suspended from the Mercosur regional trade bloc for failing to meet membership requirements, three Brazilian government sources said on Thursday, in another blow to Caracas during a deep political and economic crisis. Venezuela had until Thursday to meet requirements that included economic, human rights and...

  • BRASILIA, Dec 1- Venezuela will likely be suspended from the Mercosur regional trade bloc this week for failing to meet membership requirements, three Brazilian government sources said on Thursday, in another blow to Caracas amid a deep political and economic crisis. Venezuela had until Dec. 1 to meet requirements that included economic, human rights and...

  • It's been a tough year for OPEC economies

    Low oil prices have hit OPEC economies particularly hard in the past year but the latest output cut could bring some relief.

  • Eulogio Del Pino, Venezuela's minister of petroleum, says that he is positive Russia will participate in a deal on oil production.

  • People celebrate the death of Cuban leader Fidel Castro, in Little Havana, Miami, Florida, November 26, 2016.

    Tributes from world leaders poured in Saturday for fallen Cuban leader Fidel Castro, but the mood in Miami was starkly different.

  • CARACAS, Nov 25- Running short of raw materials in mid-2015, Venezuela's two biggest beer makers Polar and Regional publicly chided the socialist government for delays in releasing foreign currency to import hops, barley and tin for cans. Their stance in a joint communique angered President Nicolas Maduro's administration, which allocates dollars to...

  • CARACAS, Nov 24- Venezuela's PDVSA said on Thursday it was taking legal action seeking compensation for a $1 billion scheme in which two oil magnates paid bribes to obtain lucrative contracts from the state oil company. The two Venezuelan businessmen, Roberto Rincon and Abraham Shiera, were arrested almost a year ago in the United States and have pleaded guilty...

  • reversal of Iran nuclear deal

    Wolfango Piccoli, co-president at Teneo Intelligence, discusses U.S. President-elect Donald Trump's influence on emerging markets.

  • CARACAS, Nov 17- Venezuelan food company Polar, the South American nation's largest private firm, on Thursday said its owner had been barred from flying to Ecuador on a company plane for a business conference and denounced "harassment" by the state. Lorenzo Mendoza was held for four hours at the regional airport of Barquisimeto and ultimately had to return to...