Sunday, 17 December, 2017

Russian Federation extends lifeline as Venezuela struggles with 'selective default'

Venezuela's Vice President Tareck El Aissami speaks during a meeting with bondholders and their representatives in Caracas Venezuela Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
Marlene Weaver | 17 November, 2017, 11:45

Venezuela's situation is unique from other countries that have faced a debt crisis: it is simultaneously riven by a political crisis and is facing United States financial sanctions, an arms embargo imposed by the European Union, and even a call by Argentina for an oil embargo.

For PDVSA, the net value is around $250 million.

The Venezuelan government condemned S&P Global Ratings' Tuesday "attack" over its decision to partially place in default Venezuela's debt load after the country missed interest payments for global bonds due in 2019 and 2024, within the 30-calendar-day grace period.

The panel, which took several days to deliberate, will meet next week to discuss whether to hold an auction to set the rate at which the CDS will pay out, ISDA said on its website.

About 70 percent of Venezuelan bondholders are North American, according to government figures, and there are about $60 billion in PDVSA and sovereign bonds outstanding.

15 de noviembre de 2017, 18:10Caracas, Nov 15 (Prensa Latina) The Venezuelan Government expressed its satisfaction with the signing of the Amendment to the Financing Protocol today with Russian Federation, making possible to extend the period to pay the debt, which is estimated at $3.1 billion United States dollars. NY time (2000 GMT) to discuss an auction that will eventually determine the amount paid out to buyers of CDS protection.

Middle school in Davis closed due to reported gun threat
Denver Police received reports of a juvenile with a gun on school grounds sometime before 3:30 p.m. Students will not be off the hook for the missed day, as it will be rescheduled later in the year.

Venezuelan bond prices have been on a roller-coaster over the past two weeks, as Maduro called investors to inconclusive debt restructuring talks, while also pledging to keep honoring the OPEC nation's obligations.

It noted that payments will be "minimal" during the first six years.

Venezuelan officials blame payment delays on US sanctions, which have made banks warier of dealing with funds from Caracas, thus clogging transfers.

Fitch Ratings, meanwhile, said Venezuela and PDVSA are in "restrictive default" due to the delay in payments and the maturity of its debt.

Vice President of Rosneft, Pavel Fyodorov, said Venezuela is paying its debt slowly but they still owe "hundreds of millions of dollars" and therefore does not plan to lend more money to the country.

A drop in oil prices and mismanagement crushed the economy, leading to widespread shortages of food and other basics amid triple-digit inflation.

Recommended

OnePlus unveils 5T smartphone priced from Euro 499 OnePlus unveils 5T smartphone priced from Euro  499 There's one more anomaly that unlike the last year's OnePlus 3T , the battery capacity has not been increased in OnePlus 5T . In terms of connectivity, the device offers dual nano-SIM card slots with 4G LTE and VoLte capability on both the slots.

Tamil Nadu Governor in political storm over admin meet Tamil Nadu Governor in political storm over admin meet TNCC president S Thirunavukkarasar, VCK chief Thol Thirumavalavan, CPI (M) and CPI, too, are opposed to the Governor's action. Any advice rendered by the Council of Ministers to the Governor can not even be "challenged" in a court of law.

Government 'made a bags' of bid to host world cup Government 'made a bags' of bid to host world cup He said the next rugby leaders would decide where to bid for the 2027 World Rugby Cup tournament or beyond. This was the first time World Rugby had published an evaluation of candidates in a World Cup hosting race.

United Nations braces for likely Russian veto of Syria gas attacks probe United Nations  braces for likely Russian veto of Syria gas attacks probe Russian Federation put forward its own resolution on extending the mandate, but it was rejected after receiving only three votes in favor.

Third Flu Related Death Reported This Season: HHSA Third Flu Related Death Reported This Season: HHSA Wash hands frequently using soap and water, or alcohol-based products such as hand gels when hands are not visibly soiled. New Orleans - The Louisiana Department of Health is holding a flu vaccination clinic in New Orleans this weekend.

IOS 11.2 is going to support faster 7.5W Qi wireless charging IOS 11.2 is going to support faster 7.5W Qi wireless charging Numerous Qi standard-based gadgets, including the most recent Samsung Galaxy leaders, are supporting up to 15W of remote charging. It won't be any use for now, but maybe next year's iPhone is going to get improved wireless charging.

Philippine GDP Growth Improves In Q3 Philippine GDP Growth Improves In Q3 Should economists' targets be realized, the Philippines' 3rd quarter economic growth would be the 2nd fastest-growing economy in ASEAN-6 and China, next to Vietnam.

Marcos Rojo reveals his Man United comeback match Marcos Rojo reveals his Man United comeback match Manchester United defender Marcos Rojo says his knee injury recovery is in it's final stretch. I have been out a while but I am determined to get back into the national team.

Deepika Padukone promotes Padmavati on sets of Super Dancer Deepika Padukone promotes Padmavati on sets of Super Dancer Abhishek Som who claimed affiliation to Samajwadi Party has warned Deepika to leave the country or suffer the consequences. Padukone had reportedly said that nothing could stop the release of the film and that India had regressed as a nation.

Amazon Key camera feed can be disabled, security firm finds Amazon Key camera feed can be disabled, security firm finds The homeowner will be notified via the Amazon Key smartphone app and can watch the entire delivery procedure live. Rhino released a video detailing how an unwanted intrusion using the Amazon Key program and Cloud Cam could work.

LeBron James Films New York City Subway Ride LeBron James Films New York City Subway Ride Kanter got another opportunity to respond once again after a team practice. "Nothing", he said. "We got the win". Elgin Baylor scored 71 points to go along with 25 rebounds in a game at the Garden during the 1960-1961 season.

Serena Williams, Alexis Ohanian to tie knot on Thursday Serena Williams, Alexis Ohanian to tie knot on Thursday PHOTOS: Game, Set, Hot! She and Ohanian are parents to Alexis Olympia, who was born on September 1. Due to heavy security at the venue, an entire block was closed to traffic.

Volkswagen will spend €10bn on electric vehicles for China Volkswagen will spend €10bn on electric vehicles for China In terms of volume, it should result in 400,000 units of electric vehicles a year by 2020 and 1.5 million by 2025. Volkswagen will invest $11.8bn to develop new energy vehicles within China by 2025.

Crazy Volume Spikes for: Viacom, Inc. (VIAB) Crazy Volume Spikes for: Viacom, Inc. (VIAB) Viacom, Inc . ( VIAB ) belonging to the Consumer Cyclical sector has surged 0.29% and closed its last trading session at $24.61. If we want to get a sense of VIAB's future performance, we have to look at the speed and size of these price movements.

Xbox One Black Friday Sales Roundup Xbox One Black Friday Sales Roundup The major benefit of Xbox Live Gold is that it allows you to play games online with other real human beings. Game devs can find out more information about the Xbox Live analytics report by checking here .