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Cuba set to approve law aimed at attracting foreign investment HAVANA: Cuba's National Assembly is set to pass a new foreign investment law on Saturday that aims to bring badly needed capital to the communist economy by offering steep tax cuts and promising a climate of investment security. The assembly convened a special session on Saturday to discuss and approve the law, which would become valid within 90 days. Cuban media reported the session had begun, though there was no indication when a vote might take place. The new law halves the profits tax from 30 to 15 percent and exempts investors from paying it for eight years, though it also appears to withhold many of the tax benefits from companies that are 100 percent foreign-owned. Those incentives are reserved for joint ventures with the Cuban state and investments linking foreign and Cuban companies. Analysts and Cuban-based diplomats have expressed skepticism over the law, uncertain whether the one-party state has ...

Road collision kills 14 in Brazil RIO DE JANEIRO: A collision between a truck and a bus loaded with passengers killed at least 14 people in Brazil's northern Amazon city of Manaus, local media reported Saturday.The driver of the truck lost control of his vehicle and careened into an oncoming lane on Friday, crashing head-on with the bus, the G1 news site said.Among the dead were the drivers of both vehicles and a pregnant woman, according to the reports, which said ...
Opposition group ready to talk in crisis-hit Venezuela CARACAS: A moderate Venezuelan opposition group said Wednesday it was ready to talk to the protest-hit government of President Nicolas Maduro, in a rare potential step forward following weeks of unrest."We are ready for a transparent, balanced and fair dialogue, a public one with a national or international good-faith facilitator ... that can mediate if needed," Ramon Aveledo told broadcaster Globovision.Aveledo, of the Democratic Unity group (MUD) that seeks reform without ousting the elected socialist ...
Colombia gov't must approve Drummond coal port before restart BOGOTA: Colombia's environmental regulator ANLA must inspect new installations at the docks of US coal miner Drummond before it can resume exports, a process which is expected to take only a day, the regulator's chief told Reuters on Wednesday. The world's No. 4 coal exporter is now believed to be days from returning to normal export volumes that were slashed when the government shut down the port of its second-biggest coal miner in January. Traders ...
Carnival Cruise ship rescues 41 Cuban migrants in Florida Straits MIAMI: A Carnival Cruise ship rescued 41 Cuban migrants from a small, overcrowded boat in the Florida Straits, the 90-mile span of water between the southern tip of Florida and Cuba, a US Coast Guard official said on Wednesday. No injuries were reported and the migrants were transferred to a nearby US Coast Guard ship after they were spotted on Tuesday, according to Coast Guard spokesman Gabe Somma. "This could've been a real tragedy. There ...
Venezuela arrests three generals for alleged coup plot CARACAS: Three Venezuelan air force generals accused of plotting a coup against the leftist government of President Nicolas Maduro were arrested Tuesday, amid a widening crackdown on the opposition.The unidentified generals were in contact with opposition politicians and "were trying to get the Air Force to rise up against the legitimately elected government," Maduro told a meeting of South American foreign ministers."This group that was captured has direct links with sectors of the opposition and ...
Unusual tremors stirs fear in northern Chile SANTIAGO: An unusually large number of tremors following a recent earthquake in northern Chile has unnerved local residents emptying beaches, pushing up sales of emergency rations, and raising concerns about what may lie ahead for the copper-producing area. Living in one of the world's most earthquake-prone zones, Chileans are accustomed to the regular tremors that ripple through their country, which has strict quake-proof regulations for construction. But the far northern region of Tarapaca has undergone ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln