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Business Venezuela

  • CAICARA DEL ORINOCO, Venezuela, May 31- In the hot and humid town of Caicara, in the heart of Venezuela, some 20 piers jutting out of the vast Orinoco river gather mildew and rust. Odebrecht has left at least 23 multi-million dollar projects unfinished or stalled in Venezuela, according to company and government documents, interviews with over two dozens workers,...

  • CAICARA DEL ORINOCO, Venezuela, May 31- In the hot and humid town of Caicara, in the heart of Venezuela, some 20 piers jutting out of the vast Orinoco river gather mildew and rust. Odebrecht has left at least 23 multi-million dollar projects unfinished or stalled in Venezuela, according to company and government documents, interviews with over two dozens workers,...

  • CARACAS/ NEW YORK, May 30- Goldman Sachs Group Inc's statement that it never transacted directly with the government of Venezuelan President Nicolas Maduro when it bought $2.8 billion of bonds for pennies on the dollar was dismissed by the country's opposition on Tuesday as an effort to "put lipstick on this pig." The New York- based investment bank came under fire...

  • The president of Venezuela's National Assembly, Julio Borges, participates in a rally against President Nicolas Maduro's government in Caracas on April 13, 2017.

    Goldman's purchase of Venezuelan bonds is a problem optically and ethically, a former managing director at the firm told CNBC on Tuesday.

  • Goldman Sachs investing in a dictatorship?

    Nomi Prins, Demos senior fellow and former Goldman Sachs managing director, and Steve Hanke, Cato Institute senior fellow and former advisor to former Venezuelan president Caldera, discuss Goldman Sachs' controversial purchase of Venezuela's state-owned oil company bonds as the country's economy falters.

  • CARACAS/ NEW YORK, May 30- Goldman Sachs Group Inc's statement that it never transacted directly with the government of Venezuelan President Nicolas Maduro when it bought $2.8 billion of bonds for pennies on the dollar was dismissed by the country's opposition on Tuesday as an effort to "put lipstick on this pig." The New York- based investment bank came under fire...

  • Opposition demonstrators and riot police clash in Caracas, on May 26, 2017.

    Goldman bought $2.8 billion face value of PDVSA bonds at a deep discount last week, attracting the ire of critics of Venezuela's president.

  • A protester gestures in front of police during an opposition march in Caracas, Venezuela, on Wednesday, May 11, 2016.

    CNBVC's Wilfred Frost reports the blowback for Goldman Sachs after buying $865 million of corporate debt in Venezuela's state-owned oil company.

  • Venezuelan opposition threatens country won't pay Goldman Sachs' $2.8 billion bond deal

    Venezuelan opposition threatens Goldman Sachs $2.8 billion bond deal.

  • People participate in an opposition rally in Caracas, Venezuela, April 8, 2017. The sign reads "no more repression".

    Venezuela's National Assembly leader threatened a later government may refuse to pay $2.8 billion in bonds that Goldman recently purchased.

  • The next catalyst to push oil prices above $50 could be Venezuela. Here's why

    Venezuela's political instability could affect production levels and lead to a global supply disruption, says Andy Lipow of Lipow Oil Associates.

  • CARACAS, May 26- In the mountains above Caracas, two government officials often stand watch over the antennas of TV news network Globovision, poised to take it off air if regulators object to coverage of anti-government protests, according to two station employees. In contrast to past waves of unrest in Venezuela, particularly during Hugo Chavez's 1999-2013...

  • Opposition supporters set up a burning barricade during clashes with security forces at a rally against Venezuela's President Nicolas Maduro in Caracas, Venezuela May 20, 2017.

    The country's ability to keep making payments may be "in doubt," but its willingness is "strong," says one analyst.

  • VIENNA, May 25- Venezuela is considering several options to repay its debts, the oil minister said on Thursday, after a deep recession and low crude prices hit output and prompted Caracas to seek funds from China and Russia. Oil minister Nelson Martinez, speaking at a meeting of the Organization of the Petroleum Exporting Countries, said his country was producing...

  • CARACAS, May 22- Venezuela possesses 5,000 Russian-made MANPADS surface-to-air weapons, according to a military document reviewed by Reuters, the largest known stockpile in Latin America and a source of concern for U.S. officials amid the country's mounting turmoil. Much of that arsenal was obtained from Russia by Venezuela's late President Hugo Chavez,...

  • CARACAS, May 22- Venezuela possesses 5,000 Russian-made MANPADS surface-to-air weapons, according to a military document reviewed by Reuters, the largest known stockpile in Latin America and a source of concern for U.S. officials amid the country's mounting turmoil. Much of that arsenal was obtained from Russia by Venezuela's late President Hugo Chavez,...

  • CARACAS/ SAN CRISTOBAL, Venezuela, May 20- H undreds of thousands of Venezuelans took to the streets on Saturday to mark 50 days of protests against the unpopular government of President Nicolas Maduro, with unrest gaining momentum despite a rising death toll and chaotic scenes of nighttime looting. Major opposition marches took place across the oil-rich...

  • CARACAS/ SAN CRISTOBAL, Venezuela, May 20- H undreds of thousands of Venezuelans took to the streets on Saturday to mark 50 days of protests against the unpopular government of President Nicolas Maduro, with unrest gaining momentum despite a rising death toll and chaotic scenes of nighttime looting. Major opposition marches took place across the oil-rich...

  • LOS TEQUES, Venezuela, May 19- Like many Portuguese immigrants to Venezuela after World War Two, Manuel Fernandes spent a lifetime building a small business: his bread and cake shop in a highland town. The first he knew of the destruction of his beloved " Bread Mansion" store on a main avenue of Los Teques was when looters triggered the alarm, resulting in a warning call...

  • CIUDAD GUAYANA, Venezuela/ CARACAS, May 17- P ockets of oil-rich Venezuela were suffering gasoline shortages on Wednesday as the OPEC nation's ageing refineries faced more operational problems and protests blocked some deliveries. Venezuela, which has the world's cheapest gasoline, has been plagued by intermittent fuel shortages in recent months as its oil...