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US businesses getting hammered by Venezuela crisis
The political and economic crisis in Venezuela is costing US companies dearly, as General Motors can attest following the unexpected nationalization of its plant there. The big auto-maker shut down its operations in Venezuela and laid off its 2,700 workers after the government on Wednesday seized the plant, which had been idle because of the chaotic market environment. GM isn't the only US business to be walloped by Venezuela's crisis.
French election: what you need to know
Paris (AFP) - Nearly 47 million French voters go to the polls on Sunday in the first round of the country's presidential election.
Saudi Arabia restores civil service and military allowances
Saudi Arabia's King Salman issued a royal decree on Saturday restoring financial allowances for civil servants and military personnel that had been cut under austerity measures. "The royal order returns all allowances, financial benefits, and bonuses to civil servants and military staff," said the decree, broadcast on state-run Ekhbariya TV. In September Saudi Arabia cut ministers' salaries by 20 percent and scaled back financial perks for public sector employees in one of the energy-rich kingdom's most drastic measures to save money at a time of low oil prices.
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