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White House encourages US telecommunications to enter Cuban market

12/18, 9:45pm

Broad proposal gains specifics; Internet penetration in Cuba about five percent

In a fact sheet released on Wednesday, the White House has outlined some of the ways normalization of relations with Cuba will impact trade and travel. The document covers not only how many cigars Americans can bring home with them from trips to the island nation, but encouraged telecommunications companies to improve the Cuban people's connection to the rest of the world.

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Nokia Siemens Networks raises $1.6 billion to restructure

01/23, 11:30pm

Follows a $1.3 billion bailout last year

Troubled joint venture Nokia Siemens Networks has raised $1.6 billion from US and European banks as part of a restructuring and re-focusing of the company's telecommunications equipment business. It had originally sought $1.95 billion to help pay off a $2.6 billion debt caused in part by the cost of a large redundancy program, and was bailed out last year to the tune of $1.3 billion by its parent companies after they failed to sell the joint venture.

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