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financial markets

Venezuela’s ex-spy chief promotes possible presidential bid

CARACAS, Venezuela (AP) — A former spy chief under the late leader Hugo Chavez is emerging as a political player in turbulent Venezuela, mistrusted by the opposition and despised by the government as he travels the country in a possible bid for the presidency. Miguel Rodriguez Torres is a longshot …

Zimbabwe marks 37 years of independence amid economic crisis

HARARE, Zimbabwe (AP) — Zimbabwean President Robert Mugabe has marked the country’s 37th anniversary of independence with a call for tranquility even as the economy has collapsed to the point where livestock is being accepted in place of cash. The 93-year-old Mugabe broke his tradition of walking the 100 meters …

Venezuela debuts new banknotes amid soaring inflation

CARACAS, Venezuela (AP) — Venezuelans stood in long ATM lines Monday to take out new, larger-denominated bills that President Nicolas Maduro hopes will help stabilize the crisis-wracked economy. Maduro last month said he was scrapping circulation of the most used bill, the 100-bolivar note, and replacing it with new bills …

Benefits of Indian cash overhaul elusive as deadline passes

NEW DELHI (AP) — Fifty days ago, India yanked most of its currency from circulation without warning, jolting the economy and leaving most citizens scrambling for cash. As the deadline for exchanging the devalued 500- and 1,000-rupee notes for new ones hits Friday, many Indians are still stuck waiting in …

Venezuela leader says cash crackdown a victory over foes

CARACAS, Venezuela (AP) — Venezuela’s president said Sunday that the sudden decision to scrap the country’s most-used currency bill was an economic triumph over the country’s enemies even as the government sent troops and police to cities where riots and looting broke out over the measure. In a national radio …

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 …