![Banking in Cuba is evolving. A new law, Resolution 73/202 of the Central Bank of Cuba (BCC) published in the Gazette of the Republic, allows non-resident Cubans to open bank accounts in MLC (freely convertible currency) for retail sales and the importation of products authorized… You must be signed in to view this content. Sign in here Subscribe now for only $5.00 monthly to Cuba Business Report. Want more? Our best deal: Subscribe to Cuba Business Report for $49.99 for […]](https://www.cubabusinessreport.com/wp-content/uploads/2020/05/non-residents-can-open-bank-accounts-Cuba.jpg)
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![Australia based Melbana Energy has just announced the Company has executed a Farm-in Agreement for Block 9 PSC in Cuba with Sonangol, the National Oil Company of Angola and Africa’s second-largest oil producer. Sonangol has completed its due diligence requirements. The only outstanding condition is the receipt of Cuban regulatory approvals (already received) and currently in the process of being formally documented. Melbana has operated in Cuba since 2015 winning 100% participating interest in both the Santa Cruz and Block […]](https://www.cubabusinessreport.com/wp-content/uploads/2020/05/Melbana-and-Sonagol-farm-in-agreement.jpg)
![Two more drugs, CIGB-258 and Itolizumab (Anti-CD6), manufactured by the Center for Genetic Engineering and Biotechnology (CIGB) have been added to Cuba’s arsenal of drugs in the fight against COVID-19. Dr. Francisco Duran, the National Director of Epidemiology at the Ministry of Public Health told the media on Friday that the two drugs have demonstrated success in the treatment of severe COVID-19 cases. He said 52 critically ill patients have been treated with the drugs resulting in a 92% survival […]](https://www.cubabusinessreport.com/wp-content/uploads/2020/05/covid-19-drugs-in-cuba.jpg)
![While tourism has been heavily impacted by the COVID-19 pandemic, Cuba’s airports have been undergoing extensive renovations during the shutdown. Construction to improve service quality, repaving of runways, and the implementation of hygiene and sanitization measures have taken place in preparation for the eventual return of the tourists. Cuba has a total of 19 airports, 10 of which service international carriers. All of these airports have been preparing for the restart of tourist activities. The runways of Holguín, Santiago de […]](https://www.cubabusinessreport.com/wp-content/uploads/2020/05/jose-marti-aeropuerto-renovations.jpg)
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Cuba Seeks Suspension in Paris Club Debt Repayment
Cuba has asked to suspend debt repayments to the Paris Club until 2022 citing the impact on its economy due to the COVID-19 pandemic, according to diplomatic sources interviewed by AFP. In a letter addressed to the group of 1... More »
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PanTerra Gold Ltd Enters into JV with Geo Minera SA
PanTerra Gold Limited (ASX: PGI) of Australia has announced that the Cuban Government has approved a Joint Venture (JV) between its mining company, Geo Minera SA (“GMSA”) and PanTerra Gold Investments Limited (“PGIL”) to deve... More »
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Cuba Not Reopening for Tourism Just Yet
Cuba’s Ministry of Tourism announced last Friday it will not reopen its borders just yet. The Tourism industry will start up again when it is safe to do so. According to the Ministry’s official website, “Borders will not be r... More »
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China and Cuba to Expedite Plans for Biotech Park
China and Cuba have decided to expedite a project for the first joint biotechnology park in the city of Fangchenggang for the purpose of research, development, manufacturing and marketing of Cuban pharmaceutical drugs. The Cu... More »
Trade Relations
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Speech of the First Deputy Minister of Foreign Affairs of Cuba
The following is the speech given by Marcelino Medina González, First Deputy Minister of Foreign Affairs of Cuba, to more than 200 guests at the Cuban Embassy in Ottawa, Canada. The First Deputy Minister and his delegation are on a working visit to Canada from... More »
Most Discussed
Great Wall Drilling Donates Masks to Cuba
- Cuba Business Report Staff
The Chinese company Great Wall Drilling, an oil drilling company, has donated 3,000 face masks to Cuba in the Island’s battle against the COVID-19 pandemic. Aldo Grandal, head of the Ministry of Public Health’s International Relations Department, and Teresita ... More »
US Lawsuit Against Amazon Dismissed
- Cuba Business Report Staff
On Monday, the Helms-Burton lawsuit filed against Amazon, the online shopping giant, was dismissed. A Florida federal judge rejected the lawsuit filed by the plaintiff, Daniel A. González. The lawsuit alleged that Amazon.com, Susshi International Inc., and its... More »
China Donates More Medical Supplies to Cuba
- Cuba Business Report Staff
A donation of medical supplies from China landed in Havana on May 6. The shipment included personal protective equipment (PPE) to support the Island’s ongoing battle against the COVID-19 pandemic. The donation, worth $42,500, included 6,000 N-95 surgical masks... More »
Coronavirus in Cuba: Latest Updates
- Cuba Business Report Staff
The Ministry of Public Health (MINSAP) confirmed 17 new positive cases of the Coronavirus in Cuba, the lowest number in the last fifteen days. Meanwhile, 78 medical discharges were reported and no deceased. The Island has reported a total of 1,703 infections s... More »