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Cuba passes law to lure foreign investment

Cuba's parliament unanimously approved a new law on foreign investment Saturday aimed at boosting sputtering economic growth on the communist-ruled island. President Raul Castro, who was scheduled to speak to the assembly, has called the bill "crucial" to the Cuban economy, which has so far failed to show gains from his gradual reforms of the Soviet-style system. The new legislation will go into effect 90 days after it is published.

Cuba passes law to lure foreign investment

Cuba's parliament unanimously approved a new law on foreign investment Saturday aimed at boosting sputtering economic growth on the communist-ruled island. President Raul Castro, who was scheduled to speak to the assembly, has called the bill "crucial" to the Cuban economy, which has so far failed to show gains from his gradual reforms of the Soviet-style system. The new legislation will go into effect 90 days after it is published.

Analysts: foreign investment law on verge of being enacted is vital for Cuba's economy

HAVANA - Cuban authorities are on the verge of enacting a new foreign investment law considered one of the most vital building blocks of President Raul Castro's effort to reform the country's struggling economy. The law is considered so important that an extraordinary session of parliament has been scheduled for Saturday so the matter doesn't wait several months until the regular summer session.

Cuba to allow foreign investment in all sectors but health, education

Havana, Mar 26 (EFE).- Communist Cuba will allow foreign investment in all sectors except education, health and "armed institutions" and offer tax exemptions to overseas companies, the official daily Juventud Rebelde reported Wednesday, disclosing details of a bill proposed by Raul Castro's government. The new legislation "aims to provide foreign investors with full protection and legal certainty," guaranteeing that their investments "will not be expropriated except for reasons of public or social interest previously declared by the Council of Ministers," the newspaper said.

Cuba to allow foreign investment in all sectors but health, education

Havana, Mar 26 (EFE).- Communist Cuba will allow foreign investment in all sectors except education, health and "armed institutions" and offer tax exemptions to overseas companies, the official daily Juventud Rebelde reported Wednesday, disclosing details of a bill proposed by Raul Castro's government. The new legislation "aims to provide foreign investors with full protection and legal certainty," guaranteeing that their investments "will not be expropriated except for reasons of public or social interest previously declared by the Council of Ministers," the newspaper said.

CARICOM again urges U.S. to end Cuban embargo

Georgetown, Guyana, Mar 25 (EFE).- The Caribbean Community on Tuesday renewed its call for an end to the United States' five-decade-old trade embargo against Cuba. "CARICOM knows well the value of unity on the international front given that coordination of foreign policy is one of the pillars of our integration movement," Secretary-General Irwin LaRocque said as he accepted the credentials of Cuba's new envoy to the regional grouping, Julio Cesar Gonzalez Marchante.

Cuba gives doctors big pay raise -- to $64 a month

Cuba's doctors got a big pay raise Friday -- to 64 dollars a month, the official Communist Party newspaper Granma said. The hike in pay from $25 a month was to reward health professionals for being the country's top source of hard currency export earnings. President Raul Castro last month rejected pay increases for other state workers, but said they were justified for doctors, dentists and nurses "because at the moment the country's main income is due to the work of thousands of doctors overseas."

New law to create investment-friendly Cuba

Foreign investors will be able to do business in communist Cuba without fear of government interference once a new law is approved later this month, a top lawmaker told state media on Monday. The lawmaker tasked with overseeing the drafting of the new investment law said in the official Granma newspaper that the new legislation would usher in a business-friendly climate in this bastion of communism. The law will "work to strengthen guarantees to investors," said Jose Luis Toledo, head of the legal affairs committee in Cuba's National Assembly.

Cuban Americans hold rare meeting to discuss normalizing Cuba relations

By David Adams MIAMI (Reuters) - Cuban Americans met in Miami on Saturday to discuss how to normalize relations with Cuba and end the five decade-long United States embargo against the communist-run island, the first such gathering in a decade in a city better known for hostility toward the communist-run island.

Cuban Revolution heroine Melba Hernandez dies

Havana, Mar 10 (EFE).- Melba Hernandez Rodrguez del Rey, known as the "Heroine of Moncada" for her participation in the first armed action led by Fidel Castro against the Fulgencio Batista dictatorship, died in Havana, official media said. She was 92. The Central Committee of the ruling Communist Party reported Sunday "with deep sorrow" the death of Hernandez from complications related to diabetes.
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