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Venezuelan real salary has fallen 89.9% by March

Tuesday, February 7, 2017

Venezuela’s Guardian Plant to be Run by State-Owned Firm

The former Guardian Industries glass factory in Venezuela, which was seized by the country’s socialist government in July 2016, will now be operated by Venvidrio, a state-run company that was created from the takeover of another U.S.-based glass company, Owens-Illinois. Last week, Venezuela’s Labor Ministry gave Venvidrio the responsibility for restarting operations at the plant in Monagas state, according to reports in Venezuela’s media. Previously, the government of President Nicolas Maduro had turned the plant over to the firm’s workers, who were to operate it under government supervision for one year. More…

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