Russia is in talks with Abu Dhabi investors to build a major airport in Cuba to serve as a hub for Latin America.
In an exclusive interview with The National, Russian trade and industry minister Denis Manturov said discussions had taken place with Abu Dhabi’s strategic investment company Mubadala to invest in the vast project.
Mr Manturov said Russia planned to invest at least US$200 million (Dh734.6m) in the project, which could also include redeveloping a port and building a railway line.
“We are deeply involved in these negotiations,” the minister said. “Cuba is developing a transport hub from the seaport and a railway to the airport.
“They have only one international airport and they are planning to use one of the ex-military bases to build a big airport hub for Latin America.”
A Mubadala spokesman said: “The company is regularly reviewing a number of different investment opportunities with its Russian partners.”
Battered by international sanctions over the conflict in Ukraine, Russia is strengthening ties with trading partners in the Middle East, Asia and Latin America.
After five decades of hostilities, relations between the US and Cuba are thawing, attracting the interest of some international investors.
The port of Mariel is at the centre of a special development zone established to attract foreign investment into Cuba.
Brazilian construction group Odebrecht last year finished an $800m project at the port, west of Havana. A Cuban embassy official said he did not have information on the project.
Russia’s involvement in the project is part of a move by president Vladimir Putin to effectively write off about $32 billion of debt from the Soviet era, when Cuba relied heavily on USSR support.
Cuba will still have to pay back more than $3bn in 10 years under a deal revealed last summer.
Mr Manturov has held several meetings this week with government officials and sovereign wealth funds in Abu Dhabi, where he is leading a huge delegation of Russian arms makers at the Idex military exhibition.
He said that Russia hoped to boost military exports to the UAE and establish ties with its fledgling space agency.
His visit coincided with a threat by the US secretary of state John Kerry of increasing sanctions for recent fighting in Ukraine – a threat the minister shrugged off.
“It is useless to use fear against us because we know what fear is,” Mr Manturov said. “Nobody has ever managed to receive a positive result from the use of force and pressure on our country.”
scronin@thenational.ae
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Transmission: 7-speed automatic with 8-speed sports option
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Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
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The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
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Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
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DUBAI WORLD CUP CARNIVAL CARD
6.30pm Handicap US$135,000 (Turf) 2,410m
7.05pm UAE 1000 Guineas Listed $250,000 (Dirt) 1,600m
7.40pm Dubai Dash Listed $175,000 (T) 1,000m
8.15pm Al Bastakiya Trial Conditions $100,000 (D) 1.900m
8.50pm Al Fahidi Fort Group Two $250,000 (T) 1,400m
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The National selections
6.30pm: Gifts Of Gold
7.05pm Final Song
7.40pm Equilateral
8.15pm Dark Of Night
8.50pm Mythical Magic
9.25pm Franz Kafka
MATCH INFO
Manchester United 2
(Martial 30', McTominay 90 6')
Manchester City 0
Company%20Profile
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Company profile
Date started: Founded in May 2017 and operational since April 2018
Founders: co-founder and chief executive, Doaa Aref; Dr Rasha Rady, co-founder and chief operating officer.
Based: Cairo, Egypt
Sector: Health-tech
Size: 22 employees
Funding: Seed funding
Investors: Flat6labs, 500 Falcons, three angel investors
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Company%20profile
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COMPANY%20PROFILE
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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
Company%20Profile
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LA LIGA FIXTURES
Saturday (UAE kick-off times)
Leganes v Getafe (12am)
Levante v Alaves (4pm)
Real Madrid v Sevilla (7pm)
Osasuna v Valladolid (9.30pm)
Sunday
Eibar v Atletico Madrid (12am)
Mallorca v Valencia (3pm)
Real Betis v Real Sociedad (5pm)
Villarreal v Espanyol (7pm)
Athletic Bilbao v Celta Vigo (9.30pm)
Monday
Barcelona v Granada (12am)
The specs
Engine: 0.8-litre four cylinder
Power: 70bhp
Torque: 66Nm
Transmission: four-speed manual
Price: $1,075 new in 1967, now valued at $40,000
On sale: Models from 1966 to 1970
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.