ICSID ordered Venezuela to pay Vestey Group close to $100 million (£70 million) for taking over its ranch. The decision gives more pressure to country which has been burdened by continuous plunge of oil price.
Venezuela's opposition was sworn in today as the majority in the National Assembly. It's the first time in 17 years that opponents of the socialist revolution begun by the late Hugo Chavez have controlled the legislature.
U.S. prosecutors are preparing to unveil drug trafficking charges against the head of Venezuela's National Guard, according to people familiar with the case, as the United States investigates the suspected involvement of senior Venezuelan officials in the cocaine trade.
Venezuela's president on Sunday urged legal action against billionaire businessman Lorenzo Mendoza over a phone call which airs the possibility of an international bailout for the OPEC nation's ailing economy.
