Venezuela's Constituent Assembly Names Cabello as President
(Bloomberg) -- Venezuela's all-powerful Constituent Assembly named Diosdado Cabello as its new head, following President Nicolas Maduro's cabinet shuffle last week.
Cabello, second-in-command of Venezuela's ruling United Socialist party, will take over for Delcy Rodriguez, who Maduro recently tapped as vice president. The Maduro-created Constituent Assembly rules over all other government bodies, and is deemed by the U.S. and its regional allies as an illegitimate institution packed with Maduro loyalists.
“We must begin anew, I'm asking for ideas,” Cabello, 55, said following his swearing in ceremony. “I will do everything I can so that our people feel proud of this Constituent Assembly.”
A former army lieutenant and a close confidant of the late Hugo Chavez, Cabello has held a number of top-cabinet posts including vice president, minister of public works, and head of the National Assembly.
The Constituent Assembly came into power in 2017 after months of violent protests that left at least 125 dead. It most recently approved snap elections for May in which Maduro was re-elected with 68 percent of the vote. It was also the stage where he held a symbolic swearing in ceremony before the official Jan. 10 date set in the constitution.
Cabello, his brother, wife and an alleged front man were sanctioned by the U.S. Treasury just days before May's election, accusing them of being involved in drug trafficking, money laundering, and embezzlement.
--With assistance from Andrew Rosati.
To contact the reporters on this story: Noris Soto in Caracas at nsoto9@bloomberg.net;Patricia Laya in Caracas at playa2@bloomberg.net
To contact the editors responsible for this story: Vivianne Rodrigues at vrodrigues3@bloomberg.net, Robert Jameson
©2018 Bloomberg L.P.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
