Venezuelan President Nicolas Maduro announced on Monday a 15 percent increase in the minimum wage starting in December to protect workers from inflation of more than 60 percent.
Nicolas Maduro
Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.
Venezuela announced on Friday the "temporary" takeover of two plants belonging to U.S. cleaning products maker Clorox Co which has left the country because of difficult economic conditions.
Venezuela's state-run oil company PDVSA [PDVSA.UL] is seeking preliminary offers for its U.S. unit Citgo Petroleum Corp [PDVSAC.UL] by the end of September, a deal that could fetch up to $10 billion, according to two people familiar with the matter.
Japanese automaker Mitsubishi's (7211.T) subsidiary in Venezuela has halted operations due to a delay in the import of parts for assembly, a union official said on Friday.
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