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UPDATE 1-Venezuela to resume local trading of hard-currency securities [Reuters (UK)]

KADANT (KAI)  More Company Research Source: Reuters
Last kadant earnings: 10/30 04:23 pm Check Earnings Report
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PDF UPDATE 1-Venezuela to resume local trading of hard-currency securities | Reuters Reuters Staff 3 Min Read (Recasts with dollar-denominated securities) By Corina Pons and Deisy Buitrago CARACAS, Jan 25 (Reuters) - Venezuela will allow securities denominated in hard currency to trade on a local bourse, the central bank said on Thursday, allowing citizens to legally acquire foreign exchange without going through the country’s 15-year-old currency controls. The crisis-stricken OPEC nation is struggling under hyperinflation and product shortages that economists widely blame on currency controls that even ruling Socialist Party officials recognize have been plagued with corruption. Creating legal mechanisms to obtain dollars could make it easier for businesses to import raw materials or machine parts. But it is unlikely to ease the economic crisis because the local bolivar currency has lost more than 99 percent of its value on the black market, leaving local firms largely unable to afford p [Read more]

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