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GM quits Venezuela after govt seizes factory

VALENCIA, Venezuela (AP) — General Motors announced Thursday that it was shuttering operations in Venezuela after authorities seized its only factory, a dramatic escalation of the chaos engulfing the South American nation amid days of deadly protests. The plant in the central city of Valencia was confiscated on Wednesday as …

UK cost of living keeps rising due to Brexit impact

LONDON (AP) — Britain says the consumer price inflation rate rose to 2.3 percent in February, from 1.8 percent the month before, as the pound’s drop since Britain’s vote to leave the European Union caused the cost of living to rise. The Office of National Statistics said Tuesday the annual …

Egypt: Inflation rose nearly 30 percent in January

CAIRO (AP) — Egypt says its annual inflation rate has risen to 29.6 percent in January, a rise of more than five percent over the previous month. The figure was released Saturday by the state’s statistics agency. The steep rise in Inflation rates for December and January is mostly the …

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 …

Cuban President Raul Castro faces deep problems in 2017

HAVANA (AP) — Alex Romero was delighted when President Barack Obama came to Havana in March bearing the promise of a bright new future. Like so many other Cubans, the 42-year-old state photography shop employee thrilled at the president’s vision of restored ties between the U.S. and Cuba. Families would …

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 …