Venezuela’s state oil company says it will shut down part of its El Palito refinery for maintenance starting Thursday.
During the presidential campaign, Barack Obama tempered his pledge to substantially raise taxes for high earners with an important proviso: He’d simply restore rates to their levels during the Clinton Administration. The implication was that families in the upper brackets would see their total tax bite go back to the levels of the 1990s, but no higher.
Cheap currencies contributed to the region’s export-led recovery from the 1997/98 Asian crisis, but analysts note the current export slump has been caused largely by collapsing demand in the West, whose economies are slumping deeper into recession.
