Venezuela reports economy shrank by 16.5% in 2016
A woman counts Venezuelan bolivar notes at a vegetable street market in Caracas, Venezuela
CARACAS - Emiratesvoice
Venezuela’s economy shrank 16.5 percent in 2016, the government said on Thursday, as the oil-dependent nation continued to slump as a result of weak crude prices.Venezuela’s government, as part of an annual 18K filing with the U.S. Securities and Exchange Commission, said the oil sector, the main source of foreign currency in the South American nation, contracted 9.9 percent, while the non-oil economy decreased by 16.1 percent.
The 18K SEC filings are made by foreign governments related to domestically traded foreign securities and their issuer.
The central bank has not released Venezuela’s gross domestic product data since 2015, when the economy fell 6.2 percent.
President Nicolas Maduro’s government blames the dismal situation on an “economic war” led by political adversaries with the help of the United States.
His opponents say the economic collapse is a direct result of 18 years of state-led socialist policies implemented by Maduro and his late predecessor, Hugo Chavez.
The government reported inflation rose 274.4 percent in 2016, topping the 180.9 percent it registered in 2015 and among the highest in the world.
GMT 13:09 2016 Tuesday ,20 September
Mercosur Trade Bloc to Push for EU Free Trade DealGMT 14:34 2016 Tuesday ,16 August
Lack of investment, payment delays hamper Venezuela oil output
With Job Cuts, China Deal
France's Carrefour revamps operations
Paris - Emiratesvoice
France's Carrefour group said Tuesday it is overhauling its business in a transformation plan involving thousands of job cuts, a product revamp and new partnerships in China. Carrefour, which was the world'sTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Emiratesvoice
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onIn Olympic Spotlight
'Friendly and kind' N. Korean skaters
Taipei - Emiratesvoice
North Korea's figure skaters Ryom Tai-Ok and Kim Ju-Sik are "friendly and kind and a little bit shy", South Korea's Kim Kyueun said Tuesday ahead of their hugely anticipated Olympic appearance. The skater is competing with her partner Alex Kam in theFor $11.6 Bn
Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances its presence in specialtyParis show pays homage
to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
GMT 09:58 2016 Wednesday ,23 March
cartoon four
GMT 10:16 2016 Wednesday ,23 March
cartoon five
GMT 05:04 2024 Tuesday ,06 February
Skincare PR Performance Full Year 2017
GMT 14:01 2018 Thursday ,30 August
Expat with rare heart disorder gets life-saving surgery
GMT 09:31 2017 Thursday ,19 October
'The Insult' takes on taboos of Lebanon's civil war
GMT 11:50 2017 Friday ,22 December
K-pop stars carry suicide singer's coffin
GMT 14:56 2017 Tuesday ,07 February
Lithuanian president asks parliament to ratify defense cooperation agreement with US
GMT 11:54 2014 Monday ,08 December
Starwood expands footprint in Sri Lanka
GMT 15:59 2016 Tuesday ,27 September
Olympic champion race walker Wang Zhen eyes another gold medal at Tokyo 2020
GMT 20:32 2016 Monday ,13 June
China Launches Navigation Satellite
GMT 09:36 2014 Wednesday ,16 April
Malaysia’s minister of education II meets Qatari ambassador
GMT 13:01 2017 Tuesday ,11 July
Fadl Shaker could face trial in Lebanon
GMT 08:04 2017 Monday ,10 July
Actress Amira Hany happy for “Blood Series”GMT 21:36 2011 Monday ,02 May
Be bling and flash your cocktail ring
GMT 11:10 2018 Thursday ,30 August
Ariana Grande will perform at Aretha Franklin’s funeral
GMT 12:38 2017 Tuesday ,28 February
Assad wants ‘every inch’ of Syria, not just RaqqaGMT 04:24 2012 Wednesday ,28 March
Egyptian legend Ahmed Zaki\'s seventh death anniversaryGMT 11:17 2011 Tuesday ,02 August
EU ambassador to remain in Syria
GMT 12:02 2017 Friday ,03 February
Ronaldinho returns to Barcelona as ambassador
GMT 02:56 2017 Sunday ,24 September
Le Pen aide quits amid infighting on Thursday
GMT 03:12 2017 Saturday ,18 February
US 'absolutely' backs two-state solution: Haley
GMT 16:10 2016 Saturday ,17 September
Typhoon Malakas Hits Taiwan, Japanese Islands
GMT 06:11 2016 Sunday ,25 December
Dubai calling for viral Pakistani tea seller who became an overnight
GMT 21:30 2016 Thursday ,08 December
Algerian Army Destroys 4 Militant Hideouts in Jijel
GMT 12:48 2017 Sunday ,12 November
Clashes between Syrian governmental troops and extremists
GMT 00:21 2018 Wednesday ,24 January
UAE airports face less stress from new US cargo regulations
GMT 07:53 2016 Tuesday ,13 December
With rebel Aleppo to fall, Syrians abroad ponder cost
GMT 07:03 2017 Wednesday ,01 November
Trump's son-in-law travelled unannounced to Saudi Arabia
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor