Cuba lands another multinational

Source : Johannes Werner Mon Aug 12, 11:39 am EST
Scoring a symbolic victory amid the Trump administration's "maximum pressure" policy and Helms-Burton lawsuits, Cuba signed an agreement with spirits giant Diageo to create a joint venture that will market eastern Cuba-made rum worldwide. To be sure, the British company is not planning any investments in the island at this stage. Previous Top Stories

Economy

Government imposes price controls on private sector

The price controls come amid shortages, cash crunch and what increasingly looks like a recession brought on by the Venezuelan crisis and harsher U.S. sanctions British firm proposes investment bank joint venture
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Companies

Cubana acquires regional aircraft in France

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Politics

Cuba travel bill launched in U.S. Congress

The legislation, sponsored by Sen. Patrick Leahy, would eliminate any restrictions on travel to Cuba Analysis: Is Cuba entering a new stage?
German analyst: EU countermeasures to U.S. sanctions have failed
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LIFESTYLES

Vistar magazine: The International Women's Day issue

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BLOG TICKER

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Generation Y: Proposals to get help to tornado victims
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Data & Maps

A first for Havana: The Jan. 27 tornado and its destruction

According to the construction ministry, 3,780 dwellings were affected; of those, 372 are completely destroyed, 518 are partially destroyed. More than 500 roofs were lost and more than 1,800 damaged.

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Cuba’s crude oil and natural gas output has practically been stagnating since 2003. In fact, production of oil fields in the old Havana province (now Mayabeque province), including those of Guanabo, Boca de Jaruco, Santa Cruz and Puerto Escondido, decreased by one-third (-32.1%) over the past 10 years, from a record 1.87 million tons of oil, or 32,350 b/d*. Meanwhile, yields in Matanzas province helped offset the decline in Havana/Mayabeque. Oil output at the Seboruco, Varadero-Cárdenas, Cantel and Majaguillar fields grew by one-third (34.4%) in the same period, to a record 1.54 million tons or 26,670 b/d in 2015.

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Hurricane Irma: Costlier than record storm Ike

Assessing the damage two weeks after the storm, official daily Granma said “it wouldn’t be surprising if the cost exceeds that of Ike in 2008, the most destructive hurricane in this century, which was estimated at 7.325 billion pesos”. Today, this figure would be equivalent to 9% of Cuba’s Gross Domestic Product in 2014, or one-fifth of all tax income collected by the government in 2016.

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