The number of foreign businesses in Cuba has increased twentyfold in the past decade as a result of the government´s gradual relaxation of foreign-investment restrictions, resulting in a positive impact on the national economy, Cuban experts say.
In 1990, when Cuban authorities authorized foreign investment to try to stem the country´s serious economic crisis, there were barely 20 businesses with any foreign capital.
The free circulation of the euro in the Cuban destination of Holguin since June 1 has started with flying colors among travelers, especially European vacationers enjoying the delights of this tourist circuit of the island nation.
More than 700 companies and commercial firms from 28 countries will take part in the 12th Expocaribe Fair scheduled through June 13 in the eastern city of Santiago de Cuba, the island nation’s second largest burg some 944 kilometers east of Havana.
In the same breath, the Fourth Grand Caribbean Entrepreneurial Forum will get underway with the attendance of Cuba’s minister of foreign trade Raul de la Nuez and the secretary-general of the Association of Caribbean States (ACS), Norman Girvan from Jamaica.
Boeing Co., one of the world’s aviation giants, has not stopped firing employees since the dreadful 9/11 terrorist attacks and this year will be no exception. The megabuck company is projecting to furlough as many as 35,000 workers now that the commercial aircraft division has virtually slashed output by half due to the downturn in air travel.
Brazil amassed a record high $8 billion worth of surplus during the first five months of the year, the National Foreign Trade Department of the Ministry of Economic Development informed yesterday.
In line with this report, Brazil’s exports in May netted $6.4 billion while imports accounted for just $3.8 billion for a $2.5 billion surplus. In the month of April, that same favorable balance had peaked $1.7 billion.
Brazilian foreign trade secretary Ivan Ramalho said his country nicked over $19 billion in surplus funds all through last year.
Dutch airline KLM Iberia reaped revenues for 100 million euros in the course of the past twelve months (from April 2002 to March 2003), good enough for a 15 percent spike compared to the previous such period. “And all this has happened regardless of the ongoing crisis,” said Fernando Bessa, KLM’s senior director for Spain and Portugal.