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energy subsidies

Cuba weathers storm in Venezuela but future looks uncertain

HAVANA (AP) — Refineries have gone dark. Gas rations have been slashed for hundreds of thousands of state workers. Construction materials are nearly impossible to find. But Cuba’s hotels and restaurants are packed, major U.S. airlines are adding flights and government stores are full of frozen American chicken and U.S.-made …

No chicken, no cafes: Egyptians scrimp as prices leap

CAIRO (AP) — Money had already been tight as food and electricity bills climbed for weeks. So Ashraf Mahrous, a 45-year-old civil servant, warned his wife, “Black days are ahead,” when Egypt floated its pound and hiked fuel prices this month. Mahrous is now looking for a side job. Rising …

Egypt devalues, floats its currency, meeting key IMF demand

CAIRO (AP) — Egypt on Thursday took the unprecedented step of floating its currency and later hiked fuel prices, meeting key demands by the International Monetary Fund under a $12 billion loan agreement to overhaul the ailing economy of the most populous Arab state. The floatation, accompanied by a 48 …

Report: Iran raises gas prices by 40 percent in subsidy cut

TEHRAN, Iran (AP) — Iran will raise gasoline prices by some 40 percent beginning Tuesday, the country’s official news agency reported, the latest cut to the Islamic Republic’s fuel subsidies that cost it some $32 billion a year. While previous attempts to raise prices have sparked dissent, last year’s increase …