Tens of thousands of demonstrators in Caracas are demanding that the government step down. They carried candles to commemorate the more than 70 people who have been killed in the past three months by security forces during anti government protests.
Venezuela's oil sector will get a much-needed injection of cash from China, tightening Beijing's grip on the country's state-owned oil company PDVSA which is struggling to maintain deliveries to the Asian powerhouse.
A money laundering scandal involving Venezuela's state oil company PDVSA could turn into a problem for a Swiss bank. A German banker recently affiliated with the lender has been arrested in Miami.
Crisis-plagued Venezuela has suffered another blow as a committee of creditors has ruled that state oil company PDVSA defaulted on its debt — a decision that triggers payment of default insurance to investors.
Venezuela is in the middle of an economic meltdown, facing chronic inflation and an acute shortage of essential goods. The government wants to tackle the situation by raising fuel prices. But that could prove tricky.
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