Edition:
International

Corina Pons

Venezuelan companies, awash with cash, find way to move money abroad

May 18 2021

CARACAS, May 18 Venezuelan companies that are holding cash in dollars to protect themselves from hyperinflation have started paying as much as 7% to have those funds transferred into overseas bank accounts, according to six people with knowledge of the situation.

In Venezuela's survival economy, local taxes become latest challenge for business

Mar 29 2021

CARACAS Venezuelan mayors desperate for cash are levying hefty tax hikes and launching aggressive collection campaigns that have spurred complaints from businesses already struggling to stay afloat in an economy battered by economic crisis and the global pandemic.

Maduro seeks to speed up digital payments as Venezuela runs out of cash

Mar 15 2021

CARACAS Venezuelan President Nicolas Maduro is pressing banks to implement digital payment systems as hyperinflation prompts chronic shortages of cash in the bolivar currency, three people familiar with the talks told Reuters.

Venezuelan banks issuing debit cards for dollar-denominated accounts, sources say

Jan 27 2021

CARACAS, Jan 27 A group of Venezuelan banks have started issuing debit cards to clients who have accounts in hard currency, a move quietly backed by authorities who want to extend the use of dollars in routine transactions, sources familiar with the measure said.

Venezuela proposes deals allowing private companies to operate oil fields -sources

Jan 14 2021

Venezuelan officials have met in recent months with small domestic oilfield contractors to propose letting them operate fields owned by state-owned PDVSA while pocketing part of the proceeds, according to six people with knowledge of the talks.

Empty desks litter Venezuelan state offices in low-pay exodus

Dec 16 2020

CARACAS Venezuelan tax offices stand deserted, classrooms lack teachers, and utility bills go uncollected, as meager civil servant salaries drive chronic absenteeism and resignations in the hundreds of thousands.

Trying to limit sanctions pain, Venezuela pushes private firms into Asia, Middle East trade: sources

Dec 04 2020

CARACAS Venezuela's government is encouraging private firms to sign import and export deals with companies in Asia and the Middle East as part of an effort to limit the impact of U.S. sanctions, according to four sources with knowledge of the matter.

Venezuelan professionals turn to cooking and delivery to survive quarantine

Oct 14 2020

CARACAS Venezuelan professionals from biologists to lawyers have turned to making food and face masks or selling cleaning products as the coronavirus quarantine further weakens an economy already struggling under a six-year recession.

Small investment funds buy Venezuela bonds to pressure Maduro and Guaido

Oct 12 2020

CARACAS Three small investment funds have started buying defaulted Venezuelan bonds as hopes of a change of government are fading and the South American nation is proposing a restructuring, according to sources and documents.

Small investment funds buy Venezuela bonds to pressure Maduro and Guaido

Oct 12 2020

CARACAS, Oct 12 Three small investment funds have started buying defaulted Venezuelan bonds as hopes of a change of government are fading and the South American nation is proposing a restructuring, according to sources and documents.

World News