Business & Economy

The Future of Cuban Oil Prospecting

Cuba has just announced it will drill the deepest oil well of its prospecting history. The planned 8,200-meter-deep well planned west of Matanzas speaks to the extensive technical capacity of current prospecting efforts on the island.

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British Co. Invests in Cuban Coffee Market

A former British MP and Treasury Minister has made a deal to invest in Cuban coffee farming, reports the Telegraph on Thursday. Businessman Phillip Oppenheim will invest some US $4 million over five years in a coffee growing community in southeastern Cuba.

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Cuba: self-employment rules modified

A new law governing self-employment has been published in Cuba’s Official Gazette, the daily Granma reported today (Jan. 15). Law No. 315 spells out the punishments to be handed out to individuals who do not observe the regulations set for “non-state activities.”

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Cuba Privatizes State Taxi Services

This year the Cuban government hopes to convert the drivers of twenty state taxi agencies into self-employed taxi drivers, reports dpa news on Wednesday. The measure will be implemented “gradually” throughout 2014.

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Mexican President to Visit Cuba in January

Mexican President Enrique Peña Nieto will make an official visit to Cuba in late January in his effort towards improved relations with the island and also to attend a summit of the Community of Latin American and Caribbean States (CELAC), reported dpa news.

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