Overstaying his welcome? Trump spotlights Venezuela’s Guaido in cringeworthy reminder of year-long ‘interim presidency’
February 5, 2020, 9:36 am

Overstaying his welcome? Trump spotlights Venezuela’s Guaido in cringeworthy reminder of year-long ‘interim presidency’

Venezuela's opposition leader Juan Guaido gestures during President Donald Trump's State of the Union address to a joint session of Congress in Washington, DC, February 4, 2020.

US President Donald Trump shone an awkward spotlight on self-styled Venezuelan ‘interim president’ Juan Guaido sitting in his SOTU audience over a year of daydreaming about replacing Nicolas Maduro as the only ‘legitimate leader.’

Trump introduced an embarrassed-looking Guaido to the SOTU audience as “a very brave man who carries with him the hopes, dreams, and aspirations of all Venezuelans.” Declaring him the “true and legitimate president of Venezuela,” Trump contrasted the fidgety self-appointed statesman to “socialist dictator” President Nicolas Maduro – currently in Caracas running his US sanctions-hit country.

https://twitter.com/RT_com/status/1224886862336217089

Asking the US-backed and thrice-failed coup leader to take a message back to “his” country, Trump informed Guaido that “all Americans are united with the Venezuelan people in their righteous struggle for freedom.”Freedom doesn’t seem to be unifying the Venezuelan opposition, however. Guaido was ousted as head of the National Assembly last month, replaced with fellow opposition lawmaker Luis Parra. He now claims to be president of an alternate national assembly, which is somehow fitting in light of his 13-months-and-counting as “interim” head of a Venezuelan government that exists largely as a shared fantasy between himself, the Trump administration, and a handful of right-wing allies in Latin America. Just 7 percent of supporters of the Venezuelan opposition is “very confident” in his leadership abilities, according to one recent poll.

It was Trump’s second SOTU speech to include a mention of the young politician, who had appointed himself to lead Venezuela only two weeks before the US president spoke in 2019. However, the impotent opposition leader’s international standing has fallen significantly. In the intervening year, Guaido has been caught up in corruption and embezzlement scandals – often involving US funds supposedly earmarked for humanitarian relief – and after repeated attempts at calling his supporters into the street to overthrow Maduro fizzled deplorably, he can no longer muster the crowds that at least kept up the appearance of a strong opposition movement. News that possible surrogates for the Trump administration, such as Blackwater founder Erik Prince, are quietly meeting with agents of the Maduro government could spell the end of his career at the helm of an imaginary neoliberalized Venezuela.

However, Trump’s Tuesday audience was more forgiving than Guaido’s countrymen, offering him a standing ovation as Trump reminded them that socialism was still evil and not coming to America any time soon.

source: Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.