Business & Economy

The discouraging news has not been reported in any official Cuban media which usually focuses on good economic news while avoiding the bad, leaving such reporting to the foreign press.

A delegation of the Cuban government led by Noel Vazquez Perez, the head of the Ministry of Foreign Trade and Foreign Investment. This is an unprecedented event ever since the Asian country severed ties with the island after the island’s revolutionary victory in 1959.

The 32nd international tourism fair — “FITCuba 2012” — opened on Tuesday on the Santa Maria Key beach resort located in the center-north of the island.

The PetroVietnam state oil company is considering drilling in its concessions off the coast of Cuba next year, an executive of the company told Reuters on Friday.

Mexican senators Francisco Arroyo Vieyra, Yeidckol Polevnsky and Carlos Sotelo, who attended a parliamentary meeting in Havana, believe that Mexico could forgive the debt owed to it by Cuba, reported the Mexican daily La Jornada.

Large investments are being implemented in Cuba’s Varadero beach resort to expand the room capacity of hotels and to receive foreign visitors. The program seeks to strengthen the preference for the island’s principal beach and its international positioning.

Clinical trials of a Cuban vaccine against pneumococcus will begin this year, said the director of the Finlay Institute, Concepcion Campa, during the 16th International Seminar of the Caribbean Medical Association.

The Kuwait Fund for Arab Economic Development on Monday signed several agreements with the Cuban government to finance a project for the rehabilitation of the Havana water and sewer system.

The Cuban government will not increase wages until “labor adjustments” are completed across the country and unnecessary subsidies are eliminated, said union head Salvador Valdes on Monday when speaking to the Trabajadores (Workers) newspaper.

On Tuesday in Miami, Florida governor Rick Scott signed a law that prohibits state agencies from contracting with any companies that trade with Cuba, reported the Lainformacion.com website.