Maduro announces curbs to cheap gas in Venezuela
Jamaica Observer

CARACAS, Venezuela (AFP) — President Nicolas Maduro announced that from now on Venezuela's dirt-cheap fuel will be available only to people with a special government aid card that the Opposition has denounced as a...

Canadian firm gets go-ahead to grab Venezuela's US refineries
Jamaica Gleaner

A Canadian gold mining company on Thursday won the right to go after Venezuela's prized oil refineries in the United States and collect US$1.4 billion it lost in a decade-old takeover by the late president Hugo...

How far can Venezuela go in raising price of world's cheapest gas?
Jamaica Observer

CARACAS, Venezuela (AFP) — In Venezuela's inflation-hit economy, a single US dollar can buy 3.5 million litres of gasoline — an absurdity that the Government says it will tackle with a hike in the cost of...

San Juan: The Venezuelan city where nothing works anymore
Jamaica Observer

SAN JUAN DE LOS MORROS, Venezuela (AFP) – Power blackouts are daily fare, running water comes only once a month, cash machines are empty and waiting for a bus can take hours. Welcome to San Juan de los Morros in...

Venezuela to relax currency controls amid economic crisis
Jamaica Gleaner

The Venezuelan government on Thursday relaxed strict controls that for years have limited currency exchanges, choking an economy that is in a historic freefall.The ruling party's National Constitutional Assembly voted to...

Venezuelan captial hit by 80% power cut — government
Jamaica Observer

CARACAS, Venezuela (AFP) — A power failure cut electricity to 80 per cent of the Venezuelan capital Caracas Tuesday, provoking transport and communications chaos, authorities said.Electricity Minister Luis Motta said...

Venezuela's president admits economy has failed
Jamaica Observer

CARACAS, Venezuela (AFP) — Under-fire Venezuela President Nicolas Maduro admitted his economic model has “failed” in the wake of food and medicine shortages and public service paralysis, such as yesterday's...

Venezuelan professor's worn out shoes bring wave of solidarity
Jamaica Observer

CARACAS, Venezuela (AFP) — José Ibarra is 41, has a master's degree, is studying for a PhD and works as a university professor, but thanks to Venezuela's economic crisis, he cannot even afford to have his...

Venezuela to remove five zeros from currency
Jamaica Observer

CARACAS, Venezuela (AFP) — Venezuelan President Nicolas Maduro on Wednesday announced the removal of five zeros from the country's currency — two more than originally planned — amid hyperinflation the...

Where now for Venezuela with 1,000,000% inflation?
Jamaica Observer

CARACAS, Venezuela (AFP) — Whether it sparks a social revolution or forces the g overnment to open up the economy, one thing for sure is that Venezuela's projected one million per cent inflation will heap more misery...

Cuba's Castro hits out at US sanctions on left-wing LatAm gov'ts
Jamaica Observer

SANTIAGO DE CUBA, Cuba (AFP) — Former Cuban President Raul Castro yesterday accused the United States of tightening “the noose” around his country, Venezuela and Nicaragua, but vowed to “respond to...

Inflation-hit Venezuela unveils new money with fewer zeros
Jamaica Gleaner

Venezuela unveils new money with fewer zerosPresident Nicol·s Maduro unveiled plans Wednesday for combatting runaway inflation in Venezuela - by printing new paper money with five fewer zeros.The announcement came two...

IMF: Venezuela inflation on track to top 1 million per cent
Jamaica Gleaner

Inflation in Venezuela could top 1 million per cent by year's end as the country's historic crisis deepens, the International Monetary Fund (IMF) said Monday.Venezuela's economic turmoil compares to Germany's after World...

IMF says Venezuela to see one million per cent inflation by year-end
Jamaica Observer

Washington , United States (AFP) — Amid the financial and humanitarian crisis in Venezuela, the country is expected to see hyperinflation reach epic proportions: a million per cent a year by the end of 2018, the...

Venezuela facing 'economic collapse', IMF warns
Jamaica Observer

WASHINGTON, United States (AFP) – Venezuela is in a state of “economic collapse” with hyperinflation not seen since the middle of the last century, the International Monetary Fund said Monday.Despite higher...

Ex-Venezuelan energy official pleads guilty in graft case
Jamaica Gleaner

A former official at a state-run electric company in Caracas, Venezuela, pleaded guilty on Monday to money laundering conspiracy relating to an alleged multibillion-dollar graft scheme in the Venezuelan oil industry.Luis...

In embattled Venezuela, beauty offers ladder out of poverty
Jamaica Observer

CARACAS, Venezuela (AP) — At a small home with a leaking tin roof near Venezuela's capital, Johandrys Colls proudly shows off two metal crowns with plastic gemstones and nine satin sashes won in local beauty...

Thieves plunder headstones as Venezuela's crisis turns grave
Jamaica Observer

CARACAS, Venezuela (AP) — Grief flooded back for Ivonne de Gutierrez when she brought flowers to her son's grave at a cemetery in Venezuela's capital, only to find that the grave markers of several relatives were...

Trump pressed aides on Venezuela invasion, US official says
Jamaica Gleaner

As a meeting last August in the Oval Office to discuss sanctions on Venezuela was concluding, United States President Donald Trump turned to his top aides and asked an unsettling question: With a fast unravelling...

Cash-rich PetroCaribe Fund struggles to repay Venezuelan debt
Jamaica Gleaner

Jamaica's PetroCaribe Development Fund, PDF, created in 2006 to receive and manage proceeds from the deferred financing arrangement of the 13-year-old PetroCaribe Energy Financing...

Trump pressed aides on Venezuela invasion, US official says
Jamaica Gleaner

As a meeting last August in the Oval Office to discuss sanctions on Venezuela was concluding, United States President Donald Trump turned to his top aides and asked an unsettling question: With a fast unravelling...

Cash-rich PetroCaribe Fund struggles to repay Venezuelan debt
Jamaica Gleaner

Cash-rich PetroCaribeFund struggles to repay Venezuelan debtJamaica's PetroCaribe Develop-ment Fund, PDF, created in 2006 to receive and manage proceeds from the deferred financing arrangement of the 13-year-old...

Glencore shares slump 12% on US corruption probe
Jamaica Observer

LONDON, United Kingdom (AFP) — Shares in Swiss miner Glencore tumbled more than 12 per cent in London trading yesterday after the group revealed a US probe into alleged corruption.Glencore shares were down at 306.50...

$400 Million Owed for Petrocaribe
Channel 5 Belize

Petrocaribe is rolling no more. Belize is among eight countries affected by Venezuela’s PDVSA which has said that it is suspending its petroleum deliveries. Reports emerging from Venezuela suggest that [...]

Venezuela's wealthy beat water crisis drilling private wells
Jamaica Observer

CARACAS, Venezuela (AP) — Reaching for the faucet felt like a frustrating game of chance for Elizabeth Robles.At first water flowed only one or two days a week, so Robles, president of her homeowners' association,...

EU slaps sanctions on Venezuelan vice president, 10 others
Jamaica Gleaner

The European Union banned travel and froze the assets of 11 senior Venezuelan officials on Monday, including new Vice-President Delcy Rodriguez, pressing the nation's leaders to hold fresh elections and return to...

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