CUBA BUSINESS SECTION - Havana Journal > Cuba-World Trade
DTCuba.com
The renovation of elevators in the residential sector in Havana is part of authorities’ programs to solve structural housing problems.
Executives from the Empresa de Montaje y Mantenimiento de Elevadores pointed out that 83 elevators were imported at a total cost of 4.4 million dollars.
They added that 32 elevators are being installed and eight are ready for operation.
According to the experts, that action improves the situation in the residential sector, where nearly 400 elevators need to be replaced due to deterioration.
Russian specialists are providing technical assistance…
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Radionetherlands.nl | by Saskia van Reenen
On Wednesday, the Lower House is debating with Dutch Foreign Minister Maxime Verhagen on whether the Netherlands should resume a political dialogue with Cuba. Raul Castro, who recently took over power from his brother Fidel, has introduced a number of economic reforms. This has given rise to cautious optimism. The European Union is considering lifting diplomatic sanctions, which were introduced in 2003 after the arrest of 75 dissidents.
In a letter to the House, Minister Verhagen writes “The human rights situation in Cuba is still poor and there is still…
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Reuters
CEIBA Investments, a closed-end fund that invests only in Cuba, plans to list on the London Stock Exchange in June, a sign of growing interest in the socialist state since Fidel Castro was sidelined by illness.
The fund, registered in the Channel Islands, announced this week it raised its capital by 18 million euros ($28 million) to 88 million euros ($137.3 million) in a share placing that was 70 percent oversubscribed.
CEIBA is the only fund dedicated exclusively to investing in Cuba, focusing on real estate development and tourism. It is the foreign…
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I recently saw that Cuba had only 1,434 .cu domains registered. 12.75 domains per 100,000 inhabitants. It is one of the four last ccTLDs in Latin America by number of domains registered. Globally ranked 49, ahead of Algeria (.dz domains).
He is Camilo CienFuegos in a note signed by Che Guevara
The first drawback is the price. Although for entities located in Cuba is cheaper (222.7 Cuban pesos in the first year and 151 from the second) for non located on the island price is $350 for .com.cu and $600 for .cu…
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Joongang Daily
A state export insurer will begin to collect an unpaid export related payment of $31 million from Cuba that was due seven years ago.
Cuba needed to purchase generators because the country was suffering from an electrical shortage and needed Korean-made power generators and low-energy consuming electronics.
The Korea Export Insurance Corporation said yesterday that the head of the company, Cho Hwan-eik, plans to visit Cuba on Thursday and recoup 2 million euros. That was the payment for tires exported by Hankook Tire in 2001. The amount is 1.4 million euros plus…
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DTCuba.com
The Belgian company BDC International S.A. opened an office in the central Cuban province of Cienfuegos, as part of its expansion strategy in the Caribbean Island.
The firm, whose main office is in Havana, has branches in Moa and Cienfuegos.
BDC International S.A. is the exclusive representative of such brands as Peugeot (cars, spare parts and technical assistance), Michelin (the world leader in radial tires) and Renault (industrial vehicles).
The Belgian company also represents Jungheinrich (forklift trucks and other equipment to handle cargo) and Steco (auto batteries).
The company…
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AFP
Mexico has struck a deal with Cuba on restructuring a 400-million dollar debt owed by the communist island nation, banking officials said Sunday.
“The signing of an agreement to restructure the debt ... is a major step toward the normalization of commercial and financial relations between both countries,” read a statement by the Banco de Comercio Exterior de Mexico (Bancomext) Sunday.
Financial ties between the two countries have been strained over the past six years because of a rift over Cuba’s debt, but the new agreement allows them to “restore their historic level…
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Press Release
Pebercan Inc.: Conclusive Results of Santa Cruz 305 Well
By Martineau
CANASI 100 2ND DUPLEX: DRILLING COMPLETED - COMPLETION DESIGN UNDERWAY
PEBERCAN INC. (TSX : PBC) is proud to announce that drilling of the Santa Cruz 305 well is completed and shows positive results. The well was spud on October 20, 2007 and completed on January 11, 2008, after which a testing period and multizonal completion were achieved in order to isolate several zones. Initial production totals 881 barrels per day of 10.2° API density oil.
Following the…
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(Orignal title: Drilling Offshore Cuba Could ‘Desecrate’ Florida)
Florida Democratic Sen. Bill Nelson is pressing the White House to abandon a decades-old offshore boundary agreement with Cuba that he alleges will allow oil projects off Cuba’s coast that could threaten his state’s environment.
In a letter to President Bush yesterday, Nelson said that news reports of an exploration agreement signed this month between Cuba and Brazil’s state-controlled oil company reveal dangers to Florida. The letter also cites other oil exploration plans by foreign companies in Cuban waters.
“Soon, there could…
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Reuters
The Cuban nickel industry surpassed tourism as the country’s top foreign exchange earner for the first time in 2007, an economic commentator said on state-run television on Tuesday.
“Cuba’s production of between 75,000 and 76,000 tonnes meant revenues of around $2.7 billion, while tourism earned around $2.1 to $2.2 billion,” Ariel Terrero, considered the best informed economic commentator on state-run television, said.
Cuban officials have said nickel output was up 2.2 percent last year over a 2006 output of around 74,000 tonnes.
Terrero confirmed unrefined nickel plus cobalt production should reach…
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