CUBA BUSINESS SECTION - Havana Journal > Cuba-Canada Trade
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…
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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…
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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…
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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…
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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…
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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…
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Press Release from Leisure Canada
Leisure Canada Inc. (the “Company”), a premier real-estate developer in Cuba, announces today that it has received a legal opinion letter from a recognized local firm, Consultoria Juridica International, confirming the execution of the surface rights on the 34,000 m2 ocean-front property of its Monte Barreto all-suite resort project in the Miramar section of Havana. This will allow the Company to proceed with the Joint Venture Board and Shareholders meeting in early May to authorize the outlay of resources leading to a groundbreaking of the 238-room Phase One by end of 2007.
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Pebercan Press Release
Tarara: discovery of the new potential field with the Tarara 100 well
Santa Cruz: successful test of the STC 300 well and the imminent start of marketing
Continued increase in production capacity: 10 000 b/d, Pebercan gross share (*)
Montreal, Quebec - Pebercan (TSX : PBC) is an independent group specializing in the exploration-production of hydrocarbons in Cuba and listed on the Toronto stock exchange (PBC). It also has a subsidiary specializing in drilling services (Pebermat).
EXPLORATION
Evidence of a new type of potential field…
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http://ogj.pennnet.com | Oil and Gas Journal
Pebercan Inc., Montreal, plans more drilling on Block 7 along Cuba’s north coast after success at the Seboruco-11 horizontal development well.
The company said the well, 340 m east of Seboruco-10, went to 4,855 m MD and penetrated three successive reservoirs along a total length of 1,440 m. It produced 3,500 b/d of oil on a 48-hr test on a 16-mm choke and was placed on long-term test.
Next for drilling are Seboruco-12 at 340 m east of Seboruco-11 and Seboruco-102 at 400 m west of…
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Embassy, June 15th, 2005
NEWS STORY
By Sarah McGregor
Canadian firms manage to do business with Cuba in the shadow of restrictive U.S. policy
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