Oil Rig Leaving from Cuba
The Scarabeo-9 rig will soon be withdrawn from Cuba after three failed attempts to find oil in exploration wells, officials said on Tuesday at the offices of the Ministry of Basic Industry.
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Business & Economy
Brazil-Cuba: Full steam ahead
With little hoopla, Brazil has become Cuba’s second trade partner in Latin America. The trend is rising, according to basic data: In 2011, the bilateral trade exchange rose by 45 percent, compared with 2010, when it totaled US$501.4 million. This year, it is expected to close at $1 billion.
Read MoreCuba’s Critical Observatory Joins in Disaster Relief Collections
The Critical Observatory Network (OC) of Cuba, announced that the organization will begin collecting humanitarian aid for the victims of Hurricane Sandy in the east of the island.
Read MoreDecline in Cuban Purchases from the US
Cuban purchases of US goods have decreased, according to an analysis by John Kavulich, a senior policy adviser to the New York-based US-Cuba Trade and Economic Council.
Read MoreHavana Trade Fair in Pictures
The 30th Havana International Fair (FIHAV 2012) came to a close over the weekend with the organizers optimistic about the results. Business representatives from 57 countries took part and contracts were signed over a week for more than US $300 million. HT was on hand to give our readers a glimpse of the event. (25 photos)
Read MoreUK Firm to Invest $50 Million on Bio-generator in Cuba
The AZCUBA sugar industry business group and the British firm Havana Energy Ltd, have created a company to build the first 30 megawatt electric generating plant in Cuba running off of biomass. This information emerged last week during the Havana International Trade Fair.
Read MoreRussia to Create Air ‘Transport Hub’ in Cuba
The Russian government is seeking to create a new Russian-Cuban airline based at Havana’s Jose Marti International Airport, said the Russian Deputy Transportation Minister Sergey Aristov in a report by Russia Today.
Read MoreEuropean Commission Approves 6 Million Euros for Cuba and Haiti
The European Commission on Thursday announced an aid package of six million euros to support the victims of Hurricane Sandy in Cuba and Haiti, the two nations most affected in the Caribbean region.
Read MoreCuba Opens Sugar Industry to Foreign Investment
After having reserved it to the national public sector since 1959, the Cuban government is opening its struggling sugar industry to foreign investment, reported Reuters. Today a contract will be signed with the Brazilian giant Odebrecht to manage a sugar mill on the island.
Read MoreCuban Gov. to Sell Construction Materials at Half Price in Disaster Relief Effort
The Cuban government will charge fifty percent of the cost of building materials purchased by families affected by Hurricane Sandy, as of next Monday with previous purchases receiving a retroactive credit.
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