Google Signs Internet Deal with Cuba.
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Cuba is opening its eye to increase its foreign investments.
Even if Huawei already has a foothold in Cuba, Google will still provide internet access and WiFi. This is according to the U.S. president during his historic visit to Cuba. Competition will drive faster and more reliable internet service to the island nation.
China and U.S. has been competing for a place in the economy and politics of Cuba. China has been doing business with Cuba for several years and the U.S. is just making a start. The edge that Washington sees is the proximity as being Cuba's neighbor.
Caterpillar has connected with its long-term partner, Rimco, to become the official dealer of CAT equipment to Cuba. Following loosening of some trade laws by Obama administration, Caterpillar has jumped into the scene instantly and is all poised to enter the Cuban market the moment the restrictions are off. The earth movers have been lobbying for lifting the Cuban trade embargo for a long time now.
President Obama has rolled out a new set of regulations that lifts the Cuban trade embargo to a certain extent. The relaxed rules allow easy facilitation of trade, travel and finance between the two governments, a move taken to end the age-old cold war between them. While the embargo cannot be lifted completely unless Congress gives their consent, the Obama administration is convinced that this is a step in the right direction for improving the condition of the island.
Major League Baseball Commissioner Rob Manfred remains hopeful that a big league team will be at the exhibition game in Cuba next year. And the commissioner even expressed his high hope that the Major League Baseball team headinf to Cuba would be a good thing for baseball.
The week long trade expo celebration in Havana, Cuba brought it some 50 American businesses, but most of these firms still have no idea how to earn money in the communist-ruled country with a population that has minimum purchasing power.
Report on Coca-Cola profit and revenue this quarter shows a drop of nearly 5%. A strong dollar has resulted to a less value in Coca-Cola revenue from outside North America. The global economic slowdown also affected Coca-Cola revenues resulting a revenue cutback.
The latest outcome of the two-day meeting between the US and Cuba held in Havana has paved the way for reviving the airline service between the both the nations. The commercial airline services between both the nations have been suspended for a long time. The agreement on restoring the airline service is expected to be complete this year. The officials from both the countries have decided to meet again before December. The follow-up meeting is expected to be held in Washington.
New regulations have been issued by the U.S. to alleviate restrictions on American companies venturing business in Cuba and opening up travel in the latest action to soften the US trade embargo on the Communist country.
Cuba renews its annual campaign urging the United Nations to condemn the US economic embargo. Foreign Minister Bruno Rodriguez told media the Cold War-era embargo had cost Cuba some $833.7 billion over five decades. "Seventy-seven percent of the Cuban population was born and has lived under the cruel effects of the blockade, the humanitarian impact and damage is extreme and cannot be measured (only) in numbers," he said.
JetBlue Airways Corp said it began direct charter flights between New York and Havana on Friday, the first major U.S. carrier to fly the route following U.S. President Barack Obama's decision in December to normalize relations with the Communist-ruled island.
Cuba has opened 35 Wi-Fi access points nationwide, offering unprecedented online access in a country that until now has restricted use of the Internet to an elite few.
New York City-based software company Infor has identified a Cuban partner and reached an agreement to resell software in Cuba, Chief Executive Officer Charles Phillips said on Tuesday.