Business & Economy

The US Republican running mate, Paul Ryan, committed an error by supporting the ending of the embargo against Cuba for years, but now he has corrected his position, said Cuban-American Congressional representative Mario Diaz-Balart on Thursday.

The Minister of Development, Industry and Foreign Trade of Brazil, Fernando Pimentel, signed an agreement on Thursday in Havana granting a $200 million loan to the island for agricultural development.

The US Treasury Department is implementing new measures that impede the “People to People Program,” established under President Barack Obama in 2011 to facilitate travel between that country and Cuba.

The current economic reforms being implemented by Cuban President Raul Castro will be insufficient to raise the living standards of the island’s people, according to a study released on Monday in Havana by the local Catholic magazine Espacio Laical.

A total of 413 Cuban beaches are showing signs of erosion, with the rate of coastline loss averaging 1.2 meters per year, indicated recent research that was released by the official Granma newspaper.

An Argentinian trade mission will travel to Havana in September as an advance party for that South American nation’s participation in the 30th International Havana Trade Fair (FIHAV 2012).

Cuba became the leading supplier of pharmaceuticals to Venezuela over the last five years, with sales in 2011 exceeding $292 million, reported El Universal newspaper.

On the eve of the September 3 taking effect of new tariff regulations regarding the import of products into Cuba, last week the island’s authorities issued guidelines that include additional recommendations, reported the Café Fuerte website.

The Provincial Popular Tribunal of Holguin sanctioned 12 officers and of the Ministry of Basic Industry and officials of the CubaNiquel Corporation for corruption. Those sentenced included three vice ministers.

Honduran president Porfirio Lobo Sosa announced yesterday on the occasion of the first meeting on immigration of the Latin America and the Caribbean Community, held in the city of Comayagua, the signing today of a maritime boundary treaty between that Central America country and Cuba.