Venezuela

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Oil downturn

"The market can stay irrational longer than you can stay solvent," said John Maynard Keynes (or maybe it wasn't him, but no matter). At any rate, that was the eternal verity the Saudi Arabians were counting on when they decided to let oil production rip - and the oil price collapse - in late 2014.

UN Security Council divided on Turkey's strikes on northern Syria

The United Nations Security Council does not have any consensus at the moment on Turkey's strikes on northern Syria, the council's president for February has told reporters, correcting previous statement that all member states asked Turkey to "comply with international law" on Feb. 16. 

Bulgarian Customs Seize 6.3 Kg Cocaine, 256 kg Heroin in 2015

Cocaine hidden in bottles of wine, deodorant flasks and mobile phone chargers were discovered during customs checks at Bulgaria's borders last year, Dnevnik daily reported on Tuesday.

Smuggling dried leaves of the khat plant has been registered as a new trend, Dnevnik said citing the National Customs Agency report for 2015.

Venezuela's Maduro limits congressional oversight of central bank

 Venezuelan President Nicolas Maduro on Monday eliminated the National Assembly's control over nomination and removal of central bank directors through a legal reform that the opposition slammed as aimed at curtailing its power a day before it takes leadership of the legislature. 

Shift in oil-rich Venezuela as opposition wins vote

Venezuela's opposition won control of congress for the first time in 16 years on Dec. 7 as voters punished the socialist government for an economic crisis and insecurity in the oil-rich nation.

President Nicolas Maduro promptly accepted the defeat, a blow to his leadership and the "revolution" of "21st century socialism" launched by his late predecessor Hugo Chavez.

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