Venezuela / AFP Venezuelans facing severe food shortages might have been expected to welcome heavily subsidized bags of rice, milk and other staples — but the controversy didn’t take long to set in. The bags, distributed to poor families every three weeks, represent President Nicolas Maduro’s latest plan to combat the increasingly desperate economic crisis that has taken hold ...

  Beijing / AP China agreed to try to slash excess output of steel, avoid competitive devaluations of its currency and to wind down unprofitable “zombie enterprises,” US Treasury Secretary Jacob Lew said on Tuesday as the two countries wrapped up annual high-level meetings in Beijing. The commitment to persist with reforms to make China’s economy more balanced included specific steps ...

  Sydney / AP Australia’s central bank held interest rates steady at the all-time low of 1.75 percent on Tuesday following strong growth figures, while keeping an eye on low inflation. The Reserve Bank of Australia cut the official cash rate from 2.0 percent last month to spur the economy, but gave little indication of further easing in a statement ...