Business & Economy

The Cuban International Cigar Company (ICT) increased its exports by 7.5 per cent as compared to last year, by marketing 119.3 million cigar packages, Blas Manuel Fernández, economic director of that entity, reported. In 2010 the ICT carried out sales worth 18.8 million dollars of its catalogue of 10 Havana cigar brands.

Cuban and Chinese authorities have agreed to normalize their financial relations as a result of the 23rd Session of the Intergovernmental Commission. The Asian giant also gave the island an unspecified interest-free governmental credit and a donation, both for development projects.

With the start of operations of the XL Airways France airline, flying from Paris to Varadero, the weekly flights between France and Cuba now amount to nine. That company hopes to bring at least 160 tourists on each trip through April 2011.

Cuba will not have a “small shop economy,” Cuban Minister of Economy and Planning Marino Murillo affirmed. He reiterated the government’s will to maintain the predominant role of the socialist state enterprise, despite the expansion of the private sector. The minister, in statements to parliament, insisted on the need to give greater autonomy to state enterprises and eliminate the subsidies to entities with losses.

Cuban President Raúl Castro headed Wednesday the start of sessions of the Cuban parliament, which will discuss the economic reforms proposed to be approved at the next congress of the ruling Communist Party.

The governments of Cuba and Greece decided to renew official cooperation on political and economic issues, according to an agreement signed in this capital by Greek Deputy Foreign Minister Spyros Kouvelis and his Cuban counterpart Dagoberto Rodríguez, the accredited press on the island reported. Greece is the third European Union country, after Spain and France, to resume these links with the Caribbean nation.

The Cuban population will be affected by the economic adjustments begun by the government at least during 2011 and 2012, but “in 2013 I have no doubts the benefits will start to be seen,” affirmed Joaquín Infante, National Economy Prize winner. “We have no other alternative but to rectify so many things,” said the expert, who recognized mistakes made in the management of Cuba’s economy over the last five decades.

China could extend to other regions of Cuba cooperation in rice cultivation, which has been effective in the eastern province of Ganma, Liu Yuqin, ambassador of the Asian country on the island, affirmed during a tour of the country’s central region. The diplomat also mentioned the possibility of attracting Chinese tourists to the hotels on the keys on the northern coast of Cuba.

The 2010-2011 sugar harvest began with the start of grinding at two sugar mills in western Cuba. Thirty-nine sugar factories will be working in this campaign, four less than the previous harvest, the worse in more than a century.