• Most Popular
  • Most Shared

Japan suspends insurance on exports to Cuba -Nikkei

Mon Aug 18, 2008 5:59pm EDT

NEW YORK, Aug 18 (Reuters) - Nippon Export and Investment Insurance, the Japanese government-backed provider of trade insurance, has stopped accepting new applications for trade insurance on business with Cuba, the Nikkei business daily reported.

The Central Bank of Cuba's failure to pay for Japanese imports by agreed dates is behind the decision, the Nikkei said in a report on its website.

It means that almost all exports from Japan to Cuba will come to a halt for now, it added.

The newspaper reported Japanese government officials as saying that Cuba was often short of foreign exchange reserves because of U.S. economic sanctions, and that the high cost of crude oil and food appears to have made the situation worse. The report didn't identify specific sources for the information.

Cuba's central bank couldn't immediately be reached for comment.

(Reporting by Martin Howell; Editing by Phil Berlowitz)



More from Reuters

No deaths, 40 injured in Jamaica airline crash

WASHINGTON (Reuters) - An American Airlines Boeing 737 overshot the runway while landing at the international airport in Kingston, Jamaica on Tuesday night, causing 40 injuries but no fatalities, a local newspaper reported.

» More Top News
Malaysians participate in computer attack and defence hacking competition during The 3rd Annual Hack-In-The-Box Security Conference 2004 in Kuala Lumpur on October 6, 2004. REUTERS/Bazuki Muhammad
Commentary:

Year of the breach

Data security breaches are nasty business and should be avoided at all costs, writes Kevin Prince, a chief technology officer at Perimeter e-Security. Here's a look at the biggest breaches and blunders of 2009.  Commentary 

Technology
A condominium under construction is seen in Miami, Florida October 15, 2007. REUTERS/Carlos Barria

Booming in the bust

For most Americans, the housing market collapsed about four years ago. For three real estate heavyweights, it's just getting started.  Full Article 

Housing Market