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Business Venezuela

  • CARACAS, Oct 6- Inflation in Venezuela's crisis-hit economy was 536.2 percent in the nine months to September, largely due to the rapid depreciation of the local currency on the black market, the opposition-controlled National Assembly said on Friday. As well as the alarming Jan-Sept cumulative rise, the legislative body- which has been sidelined by President...

  • Moscow could be "the preeminent energy super power" by exploiting geopolitical tension in distressed petrostates, RBC Capital Markets warns.

  • *New restrictions set to take effect Oct. 18. WASHINGTON, Sept 24- President Donald Trump on Sunday slapped new travel restrictions on citizens from North Korea, Venezuela and Chad, expanding to eight the list of countries covered by his original travel bans that have been derided by critics and challenged in court. Iran, Libya, Syria, Yemen and Somalia were left on...

  • International travelers arriving at Miami International Airport on March 4, 2015 in Miami, Florida.

    The Trump administration issued an updated travel ban with fresh restrictions on who can enter the U.S., targeting eight countries.

  • CARACAS, Sept 23- Venezuela's government criticized Canada's Friday announcement of targeted sanctions against 40 of its senior officials, accusing Ottawa of "submission" to U.S. Canada's measures include freezing the assets of the officials and banning Canadians from having any dealings with them. "Canada's government established... an immoral association...

  • OTTAWA, Sept 22- Canada will impose targeted sanctions against 40 Venezuelan senior officials, including President Nicolás Maduro, to punish them for "anti-democratic behavior," the foreign ministry said on Friday. "Canada will not stand by silently as the government of Venezuela robs its people of their fundamental democratic rights," Foreign Minister...

  • Without help, Venezuela cannot pay liabilites alone: Daniel Osorio

    Daniel Osorio, Andean Capital Advisors, discusses Venezuela's default risk after the country was a week late on a massive bond interest payment and what effect hyperinflation is having on the economy.

  • PUERTO ORDAZ, Venezuela, Sept 21- Venezuelan drivers are facing growing queues to buy gasoline despite having the world's largest oil reserves, adding to the OPEC country's woes as its refineries sputter and its socialist economic system crumbles. Lines to buy fuel and shuttered service stations have been intermittent problems for much of this year, most...

  • PUERTO ORDAZ, Venezuela, Sept 21- Venezuelan drivers are facing growing queues to buy gasoline despite having the world's largest oil reserves, adding to the OPEC country's woes as its refineries sputter and its socialist economic system crumbles. Lines to buy fuel and shuttered service stations have been intermittent problems for much of this year, most...

  • PUERTO ORDAZ, Venezuela, Sept 21- Venezuelan drivers are facing growing queues to buy gasoline despite having the world's largest oil reserves, adding to the OPEC country's woes as its refineries sputter and its socialist economic system crumbles. Lines to buy fuel and shuttered service stations have been intermittent problems for much of this year, most...

  • PUERTO ORDAZ, Venezuela, Sept 21- Venezuelan drivers are facing growing queues to buy gasoline despite having the world's largest oil reserves, adding to the OPEC country's woes as its refineries sputter and its socialist economic system crumbles. Lines to buy fuel and shuttered service stations have been intermittent problems for much of this year, most...

  • MOSCOW, Sept 18- Russia will supply around 600,000 tonnes of wheat to Venezuela in the current marketing year ending next June, Russia's agriculture minister told Reuters, deepening the Kremlin's support for Venezuela's troubled economy. Russia, which last season did not ship any wheat to Venezuela, had not previously confirmed how much wheat it planned to...

  • CARACAS, Sept 14- Venezuela will make all pending debt payments despite "a series of difficulties" that have arisen as a result of financial sanctions by the United States, Economy Vice President Ramon Lobo said on Thursday. The United States in August prohibited dealings in new debt from Venezuela and state oil company PDVSA in response to the creation of a new...

  • HOUSTON/ NEW YORK, Sept 14- Washington's recent sanctions against Venezuelan state-run oil company PDVSA have started to ensnare its U.S. unit, Citgo Petroleum, making it harder for the refiner to obtain the credit it needs to purchase crude, according to six traders and banking sources. Citgo's three U.S, refineries, one each in Illinois, Texas and Louisiana,...

  • PARIS, Sept 12- Venezuela's government and opposition will hold a round of talks in the Dominican Republic on Wednesday, France's foreign minister said on Tuesday, warning Caracas that it risked EU sanctions if it failed to engage in negotiations. "I was happy to learn that dialogue with the opposition would restart tomorrow in the Dominican Republic," Jean-Yves...

  • PARIS, Sept 12- Venezuela's government and opposition will hold a round of talks in the Dominican Republic on Wednesday, France's foreign minister said on Tuesday, warning Caracas that it risked EU sanctions if it failed to engage in negotiations. Venezuela has been convulsed by demonstrations against leftist President Nicolas Maduro, accused by critics of...

  • PARIS, Sept 12- Venezuela's government and opposition will hold a round of talks in the Dominican Republic on Wednesday, France's foreign minister said on Tuesday, warning Caracas that it risked EU sanctions if it failed to engage in negotiations. Venezuela has been convulsed by demonstrations against leftist President Nicolas Maduro, accused by critics of...

  • A worker adjusts a valve of an oil pipe in Zubair oilfield in Basra, Iraq.

    OPEC's oil output fell in August as several key exporters in the group throttled back production.

  • With Venezuela deep in recession and its currency reserves at their lowest in more than two decades, the Maduro government and state oil company PDVSA have to pay about $4 billion in debt and interest during the rest of 2017.. He reiterated Venezuela would keep honoring debt, but said he wanted to talk with bondholders affected by sanctions recently imposed by...

  • CARACAS, Sept 8- President Nicolas Maduro has invited bondholders to unspecified "negotiations" over Venezuela's foreign debt in coming days in response to recent U.S. financial sanctions. With Venezuela deep in recession and its currency reserves at their lowest in more than two decades, the Maduro government and state oil company PDVSA have to pay about $4...