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CARACAS, Dec. 30 (Xinhua) -- The Venezuelan government announced Friday that it is ready to hand over the rotating presidency of the Mercosur bloc to Argentina from Jan. 1, after holding the position for the past six months in tension with some of other member nations.
Foreign Affairs Minister Delcy Rodriguez wrote on Twitter that the handover would proceed as planned, with Mercosur rotating between member countries every six months.
Rodriguez said that Caracas had "legitimately exercised" its right to hold the position for six months.
Venezuela joined the bloc in 2012 and took over the presidency on July 30, 2016 from Uruguay.
But three of Mercosur's other four members, namely Argentina, Brazil and Paraguay, refused to recognize Caracas' presidency, saying the country's political and economic woes prevented it from playing an effective role.
In early December, the three members were joined by Uruguay to suspend Venezuela from the bloc. The foreign ministers of these countries wrote to Venezuela, informing the country that its membership rights would have to be renegotiated.
Caracas rejected the move and has maintained that it continued to exercise its presidency legally.
NAIROBI, Feb. 13 (Xinhua) -- Kenyan banks are laying off workers and closing branches as they pursue a digital strategy to cut costs following the capping of interest rates.
Interest on loans were last September capped at 4 percent above the Central Bank of Kenya (CBK) benchmark rate currently standing at 10 percent.
Consequently, at least 10 financial institutions out of the 42 that operate in Kenya have responded by announcing job cuts and closure of branches, with over 970 workers having been axed and at least 21 branches closed.
The sackings are not only affecting branches in the country but even those in other East African nations where the financial institutions operate subsidiaries.
Equity Bank, Kenya's biggest bank by customer bank, has send home some 400 workers in the past months, industry data showed.
Standard Chartered Bank follows closely with 300 workers while First Community and Sidian Bank follow with 106 and 108 workers.
Kenya Commercial Bank, similarly, announced last week that it would lay off 28 workers at its Rwandan branches as the bank undergoes restructuring.