Going head-on against U.S. policy, Spain backs Cuba with €375m fund

Source : Johannes Werner Wed May 08, 03:17 pm EST
As the United States is intensifying its attacks on the Cuban economy, the Spanish government sends a clear signal of support to Cuba and Spanish businesses in the island, agreeing to funnel more Cuban debt payments into a fund that supports projects involving Spanish companies.

Spanish Industry Minister María Reyes Maroto: "We believe the extraterritorial application of U.S. law is counter to international law".

Previous Top Stories

Economy

Visitor numbers rise 4.9% in high-season quarter

That was mostly due to a 90.6% rise in U.S. visitors. According to the tourism minister, cruises declined 40% Cuba liberates, again, food distribution in three provinces
Q&A: European trade and investment, in times of uncertainty
Tourism returns to growth in high-season months
AP: Cuba bets on tourism as new U.S. travel and economic restrictions take hold
Reuters: Cuban sugar harvest set to disappoint, adding to economic woes
Tampa Bay Times: Havana is already crumbling from years of neglect. Another hurricane would be catastrophic
AP: Cuba launches widespread rationing in the face of crisis

MORE..

Companies

Spanish organizer takes charge of two long-standing events in Cuba

A joint venture involving Fira Barcelona takes over the bi-annual Informática convention and fair, as well as the international part of the Fecons construction fair Trafigura joint venture makes first profit from lead and zinc production
MLB hires Florida firm to lobby White House on Cuba baseball deal
Chinese company to set up medical device joint venture in Cuba
Reuters: Cuba says Boeing 737 plane crash last year likely due to crew errors
Charlotte Business Journal: American Airlines shifts Havana flight from Charlotte to Miami
Reuters: Google to announce deal with Cuba to improve connectivity: source
Trade Show News Network: The ups and downs of event planning in Cuba

MORE..

Politics

Analysis: Spain rides to the rescue of a beleaguered Cuba

Against all odds, the FITCuba 2019 tourism fair was a resounding success, mostly thanks to the support of Spain Analysis: The upcoming President-Prime Minister shuffle
U.S. blacklists two more oil shipping companies
Q&A: What’s behind the Title III activation, and what impact will it have?
Reuters: Canada foreign minister visits Cuba to discuss Venezuela
Travel Pulse: Trump administration travel restrictions may scuttle cruise ship calls
Reuters: Cubans dismayed Canada halting visa processing in Havana
Reuters: ExxonMobil sues Cuba over property expropriated in 1960

MORE..

LIFESTYLES

Vistar magazine: The International Women's Day issue

Profiles of female musicians, painters, sculptors, musicians and fashion designers in Cuba LaHabana.com: The anniversary issue

MORE..

BLOG TICKER

Argus: Venezuelan intelligence officers board tanker to ensure diesel delivery to Cuba
Cuba Central: Caritas seeks donations for post-tornado reconstruction in Havana
Cuba Trade magazine: Confused Americans opting for cruise travel to Cuba
Generation Y: Proposals to get help to tornado victims
Havana Times: ExxonMobil vs. Cuba: Potential for a legal marathon?
Progreso Weekly: William LeoGrande: Helms-Burton violates the 'Act of State' doctrine

MORE..

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.

Read more
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.

Read more
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.

Read more