Category Archives: International News

Venezuela’s 4,000% Hyperinflation ‘Breaks’ Cash-Weighing Scales

How bad is it in Venezuela? Well, it’s hard to tell because their government refuses to publish basic statistics. So, Bloomberg created their own gauge to measure one of the most important of all the missing figures – inflation (or hyperinflation in this case). It tracks just one item: a cup of coffee served piping hot at a bakery in eastern Caracas. Its price has jumped to 75,000 bolivars from 1,800 bolivars over the past 12 months, an increase of 4,067%.

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Zimbabwe’s Military Seizes Power, Holds President Mugabe

Zimbabwe military commander, General Constantino Chiwenga, said on state television that he was not launching a military coup, while Mugabe and his family were safe, they were targeting criminals around the Mugabe family and the situation will return to normal soon. But, that changed fast with the latest from Zimbabwe is that the army is in control of the country, and holding president Mugabe “for his own safety”, while it was removing “criminals” around him such as the country’s finance minster.

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Beijing Orders All North Korean Businesses To Close

In the latest sign that China is moving to dramatically limit its exposure to its restive neighbor and long-time economic dependent, Chinese authorities on Thursday ordered all North Korean firms to stop doing business in the world’s second-largest economy, fulfilling Beijing’s obligations according to the latest round of UN Security Council sanctions, which were passed two weeks ago.

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