CUBA BUSINESS SECTION - Havana Journal > Cuba-Canada Trade
Luncheon panel discussion hosted by Canadian Council for the Americas and the Canadian International Council
Sponsored by Sherritt
How soon till we get there? US re-engagement with Cuba and what it means for Canada
Date: May 6th, 2009
Time: 11:45 a.m. - 1:30 p.m.
Place: The University Club of Toronto
380 University Avenue,
Toronto, ON, M5G 1R6
CCA and CIC Members - $45.00 Non-Members - $75.00
Dan Erikson - Author of “The Cuba Wars: Fidel Castro, the United States and the Next Revolution” (2008), a finalist of the “2008 Book of the Year Award”, Mr. Erikson is Senior…
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PEBERCAN INC. (The “Company”), (TSX: PBC) Pebercan announces that Cuban authorities, through Cubapetroleo S.A. («Cupet»), have notified its subsidiary Peberco Limited that Cupet wishes to prematurely terminate the production sharing contract, entered into in 1993 and scheduled to expire in 2018.
In light of this early termination of the production sharing contract and settlement of debts owed to Peberco for the sale of crude oil and in consideration of Cupet assuming all of Peberco’s obligations relating to its activities in Cuba, Peberco will receive a total net lump sum payment of 140M US$.
As well, and given the relationship between…
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PEBERCAN INC. (the “Company”), (TSX: PBC) today unveiled its results for the third quarter ended September 30, 2008. All amounts are in U.S. dollars.
Highlights: Q3 2008 versus Q3 2007
* Revenues up 32.3% to $38,696,000
* Block 7 total production: 1,678,548 barrels (18,245 bbl/d)
* Pebercan’s net share of Block 7 total production: 550,128 barrels (5,980 bbl/d)
* Cupet $108.5 million in arrears, resulting in an impairment loss of $8,608,000 against receivables
* Pebercan records net earnings of $8,175,000 ($0.11 per share)
Pebercan press release
PEBERCAN INC. (The “Company”), (TSX: PBC) - Given the difficult economic situation and the general context of increases in the cost of raw materials and food staples, Cupet has been unable to make April and May 2008 payments, as provided for in the November 2007 agreement which rescheduled the terms of payment of an outstanding debt.
Of the $39,136,000 owed to the Company, only $2,000,000 has been paid so far. For the record, this agreement stipulated the terms and conditions of monthly payments, of which $118,900 was payable from November 2007 to November 2008 and was partially…
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By Konrad Yakabuski | Globe and Mail
If Communist Cuba is open for business - as its seems like never before to be under new president Raul Castro - then Canadian companies should be the first through the door, right?
After all, Pierre Trudeau became the first leader of a NATO country to visit the communist island in 1976. Jean Chrétien paid a follow-up visit to Fidel Castro a decade ago, just after passing legislation to protect Toronto-based Cuba booster Sherritt International Corp. from any nasty spillover in this country from the anti-Cuba U.S. Helms-Burton Act.
With that history…
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PRESS RELEASE
Vancouver Canada – Leisure Canada (the “Company” or “LCI”) is pleased to announce that the Board of Directors has approved the signing of a conditional agreement with Profile Investments LLC (“Profile”) pursuant to which Profile and persons associated therewith will acquire 46 percent of the fully diluted issued capital of LCI as enlarged through the issuance of new shares to Profile, thereby raising C$15 million. In addition, Profile and persons associated therewith have agreed to invest US$5 million in the Company’s operating subsidiary, Wilton Properties Limited (“Wilton”). Profile is a Dubai-based investment company with global…
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Cuba signed a contract with the Canadian Wheat Board on Tuesday to buy 150,000 tonnes of wheat, a sign that Canada’s food sales are recovering at the expense of U.S. exporters.
The president of the Cuban food import agency Alimport, Pedro Alvarez, said the wheat purchase for delivery next year was worth about $70 million.
Cuba also bought 100,000 tonnes of peas and 3,000 tonnes of powdered milk from Canadian companies at the annual Havana trade fair, deals worth another $75 million, he said.
Cuban food purchases from Canada will increase 40 percent this year due to difficulties in buying…
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Wendy R. Holm, P.Ag. | Western Dairy Farmer
Those in the dairy industry already know about the Canada Cuba Farmer to Farmer Project.
For those who are not, this is a snippet of our first initiative, Enhancing Sustainable Dairy Production Capacity in Cuba, brought together farmers from both countries to develop a sustainable dairy model that has already tripled milk production at CPA 26 Julio and just won the AMEC Sustainable Development of Natural Resources or Protection of the Environment Award at the 15th Annual International Awards for Cooperation in May 2007.
Cuba’s priority on dairy self-sufficiency (they import half…
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CBC news
Millions of Canadians whose MasterCard charge cards were issued by credit unions are now being forced to abide by U.S. economic sanctions that prevent use of the cards in countries including Cuba and Iran.
CU Electronic Transaction Services (CUETS), which issues MasterCards to credit unions and caisses populaires, was in October acquired by the Canadian subsidiary of the Bank of America. As a result, CUET MasterCards will not work in Cuba, North Korea, Burma, Iran and Sudan.
MasterCards issued by other Canadian financial institutions are not affected and will continue to be accepted around the globe.
Ellen Tucker,…
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TheStar.com
Canada’s Sherritt International Corp. said Wednesday it plans to invest $1.25 billion (U.S.) in Cuba over the next two years, bolstering its position in the island’s oil, natural gas, electricity and nickel and cobalt mining sectors.
“Cuba is one of our favourite places to work,” Sherritt President Ian Delaney said during an event marking the expansion of the Energas natural gas plant, 30 miles east of Havana, which his company manages jointly with state-owned Cuba Petroleo.
Delaney did not specify what the new investments will be used for, saying only they will go toward a variety of projects. Sherritt…
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