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May 2012
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Johannes Werner

Citing “continuous breakdowns,” official daily Granma reported that workers have begun repairing an oil pipeline from Cárdenas to Matanzas. The 20-mile pipeline, laid at a depth of 1.6 meters, supplies crude oil from onshore fields to a storage facility near the Port of Matanzas. The pipeline will continue to function during repairs, made by EPEP-C, a [...] Continue reading
The first oil well drilled by the Scarabeo-9 platform in Cuban waters came up empty, Repsol confirmed after Reuters broke the news May 18. A spokesperson for the Spanish oil company said the result was “negative,” and that Repsol is now “evaluating the situation.” The platform has already moved westward to a block off Pinar del Río province licensed [...] Continue reading
  Mariela Castro Espín, the daughter of Cuban President Raúl Castro, is scheduled to speak at an academic conference in San Francisco on May 24, Heritage Foundation blog The Foundry first reported. The Latin American Studies Association (LASA) played her participation at the large annual conference very low-key. Her participation as chair of a panel on “A View on Sexual Diversity [...] Continue reading
As it lost a last-instance appeal after a decade-long battle in U.S. courts to keep the Havana Club trademark, Pernod Ricard SA registered a new brand for the United States with the U.S. Trademark and Patents Office. The French company chose the name Havanista. “If you like Havana Club, you will love Havanista,” said Jérôme Cottin-Bizonne, CEO of [...] Continue reading
By José Manuel Pallí, Esq. jpalli@wwti.net In 2011, about this same time of the year, the expectation about impending changes in the way Cuba regulated property rights was in crescendo. I was invited to participate in a panel at the Association for the Study of the Cuban Economy (ASCE) conference in early August to discuss those changes, which, [...] Continue reading
A Cuban trade delegation is in South Korea, touring three Hyundai subsidiaries, the Korean Times reported. According to Korean foreign ministry officials, the visit was requested by Cuba. The agenda of the five-day trip includes meetings with Korean government officials and the Korea Trade-Investment Promotion Agency (KOTRA), and visits at Hyundai Engineering & Construction, automobile manufacturer Hyundai Motor, and automotive [...] Continue reading
Minsk Tractor Works (MTZ) agreed to sell Cuba “close to 100″ Belarus-assembled tractors, Prensa Latina reported. Details of the purchase were not disclosed. Cuban and Belarus officials, according to press reports, have negotiated assembly of MTZ tractors on the island. MTZ is currently building an assembly plant in Venezuela, with a capacity of 10,000 tractors per year. [...] Continue reading
The head of the Kuwait Fund for Arab Economic Development (KFAED) signed an agreement April 30 in Havana with the Instituto Nacional de Recursos Hidráulicos to fund the reconstruction of water and sewer lines in the Cuban capital, the Kuwaiti embassy said in a press release. No details about the project or funding were released. If previous history is [...] Continue reading
Sales of real estate and vehicles have been rising at a brisk pace since the government allowed them last fall, Communist Party daily Granma reported in an article Thursday. From January through March, 2,730 homes and 8,390 automobiles were sold nationwide, a Justice Ministry official said in a press conference in Havana, according to Granma. The number [...] Continue reading
Without mentioning Havana Club rum sales in its report for the quarter that ended March 31, Pernod Ricard SA said that overall sales rose 9 percent in the third financial quarter, thanks to a 17-percent rise in emerging markets. The only mention of the Cuban-made rum in the report was the-third-quarter launch of a new Havana [...] Continue reading
Impacted by a drop in nickel prices, Toronto-based energy and mining concern Sherritt International Corp. saw its net earnings drop by nearly half during the first quarter. Sherritt, Cuba’s largest private foreign investor, earned CAD$32.4 million in the first quarter (US$32.9 million), down from CAD$63.6 million (US$64.6 million) in the first quarter last year. Revenues dropped to [...] Continue reading
Air transport officials from Peru are scheduled to meet their Cuban counterparts April 25-27 in Havana to negotiate an agreement that would allow for more flights between the two countries, Peru’s semi-official Andina news agency reported. The meeting was proposed by Cuba’s foreign ministry and the Instituto de Aeronaútica Civil de Cuba. Tourism and business travel from [...] Continue reading
Boosted by a strong performance in March, the number of foreign visitors grew 5.3 percent during the first quarter, the Oficina Nacional de Estadísticas announced in a bulletin. Deputy Tourism Minister Alexis Turjillo said at a recent press conference that tourism revenues rose 12.2 percent during the first quarter. Tourism is Cuba’s second-largest source of hard currency. A total of 952,777 [...] Continue reading
In what appears to be a widening investigation of what used to be a key foreign investor in the Cuban economy, authorities have arrested the chief operating officer of Coral Capital Group Ltd., people close to the company say. “I can confirm that a British citizen has been arrested and is under investigation by Cuban [...] Continue reading
Cuba is facing a necessary mentality change, the most difficult phase of its economic reform process, warned Nguyen Phu Trong, general secretary of Vietnam’s Communist Party during a visit in Havana. “The danger for a party in power is corruption, bureaucracy, degeneration, particularly in the circumstances of a market economy,” the party leader said, according to [...] Continue reading
By Pavel Vidal Alejandro Since 2010, the Cuban economy has entered a new period of economic reform, officially labeled as an “update of the economic model.” In order to weigh the extent of the visible contents of the Cuban monetary and exchange rate reform and obtain lessons from international experiences, this analysis takes some elements of the Vietnamese reform as [...] Continue reading
Presenting its first independent event since it was cut out by London Metropolitan University last year, the London-based International Institute for the Study of Cuba (IISC) will host Cuban and British scholars at a conference that focuses on Cuba’s reforms and the outlook of its socialist project in the 21st century. The one-day event April 17 at the University of [...] Continue reading
By George Baker President Felipe Calderón has just a few months left to cement — a dangerous word in the post-Macondo world — his presidential legacy in the oil sector. His visit to Cuba is intended to sell the Cuban government on the wisdom of the global template that his government negotiated with the [...] Continue reading
Without providing any details, official media reported that the Havana-based Centro de Ingeniería Genética y Biotecnología (CIGB) signed a joint production and distribution agreement with Jining-based Shandong Lukang Pharmaceutical Group Co., Ltd. Shandong Lukang is a manufacturer of antibiotics and pharmaceutical raw materials and special resins for ion exchange, absorbents and special applications. The state-owned company exports some $40 [...] Continue reading
Vancouver-based 360 VOX Corp. launched a Cuba travel Web site fed with journalist-written articles about music, movies, culture, cuisine and profiles of Cubans. The company, formerly known as Leisure Canada, is planning to build at least one hotel and a golf resort in Cuba. www.visitcuba.com features a Cuba-only travel booking engine on its homepage that offers a range [...] Continue reading
A delegation of renewable-energy companies put together by Germany’s Aussenhandelskammer (AHK) visited Cuba March 12-16. The group included representatives of eight midsize companies, according to the organizers. This was AHK’s fourth renewable-energy delegation to the island. The program, titled “Business opportunities for German companies in the areas of solar, wind, water and bio energy,” was coordinated with the Ministry [...] Continue reading
In a long-anticipated visit, Mexican President Felipe Calderón announced he would be in Cuba April 11, to talk about trade and investments in general, as well as offshore oil. Calderón, who is in the last year of his six-year term, notified the Mexican senate that he would be traveling April 11-15, to visit Cuba and Haiti, [...] Continue reading
    One-and half decades after condemning U.S. pilgrims for attending the previous pope’s visit to Cuba in 1998, Miami finance tycoon Carlos Saladrigas himself will be a speaker at a Church-sponsored event in Havana, two days after the visit of Pope Benedict XVI. Saldadrigas agreed to speak about the reinsertion of diaspora Cubans on the island March [...] Continue reading
ExpoHolguin, a provincial version of the International Havana Fair in eastern Cuba, will open its doors March 26 in the city of Holguín, with participation of a dozen foreign companies. The trade fair, Cuba’s second-largest, features a total of 64 companies this year, with strong presence of metals and mechanical manufacturers, food processing companies, and nickel [...] Continue reading
  Following the creation of state sugar enterprise Azcuba, the Cuban government is setting up a similarly-styled holding company that will be in charge of the pharmaceutical industry. In a side note to the official announcement of a cabinet reshuffle, the Cuban Council of State said the government is in the process of creating a state holding company [...] Continue reading
The government agency that regulates U.S. stock exchanges continues to press U.S. and foreign companies over their connections with Cuba and other U.S.-sanctioned countries, citing the U.S. government’s “state sponsor of terrorism” list According to documents obtained by El País, the Securities and Exchange Commission (SEC) on Nov. 29 sent a letter to the chairman of [...] Continue reading
Easing restrictions dating back to 1994, the Cuban Central Bank as of March 17 allows travelers to take with them up to US$5,000 of foreign currency and up to 2,000 convertible pesos (CUC) in cash, checks or other bank instruments. The 1994 regulation prohibited any export of hard currency, except for foreign employees of joint ventures [...] Continue reading
More than two years after a merger, the Cuban Central Bank granted a license to Bankia SA to operate a representative office in Havana, officially taking over the business of Caja de Ahorros y Monte de Piedad Madrid, which has had an office in Havana since 1998. Bankia, the result of the December 2010 takeover by Caja Madrid (Spain’s fourth-largest [...] Continue reading
The top executives for Cuba’s three inbound tour operators spoke at the New York Times Travel Show March 2-4. According to John McAuliff, executive director of the Fund for Reconciliation and Development, the U.S. State Department granted the Cuban officials visas in just three weeks, less than half the usual processing time.  “When I met with the head of the [...] Continue reading
An agriculture- and food industry-heavy delegation from the German state of Niedersachsen is visiting Cuba March 14-19. Economy Minister Gert Lindemann, who is leading the agribusiness-heavy delegation, said participants will have “targeted cooperation talks” with Cuban officials and tour agricultural and food processing enterprises in Cuba. Some members of the delegation will visit the FIAGROP agricultural fair [...] Continue reading
One month after exploratory drilling restarted in Cuban waters with the arrival of the Scarabeo 9 platform, the government published new customs regulations intended to ease imports and handling of offshore oil equipment. Resolution 9/2012, published in the Gaceta Oficial Extraordinaria No. 5 on March 13, designates the Customs office at the Port of Mariel, where a Brazilian [...] Continue reading
When the Deepwater Horizon disaster on the U.S. side of the Gulf of Mexico threatened the Cuban coastline in 2010, the Venezuelan state oil company provided Cuba with equipment and training for offshore oil spill response, Venezuelan daily El Nacional reported. The Venezuelan aid has taken on new importance, as oil drilling began in Cuban waters in [...] Continue reading
Rep. Jeff Flake, an Arizona Republican and long-time advocate for free travel to Cuba, presented a House bill March 5 that would allow U.S. oil companies to drill in Cuban waters. The “Western Hemisphere Energy Security Act of 2012″ (HR 4135) would permit U.S. companies “to participate in the exploration for and the extraction of hydrocarbon resources from [...] Continue reading