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Status of oil production and exploration in Cuba

Posted in Cuba Business > Cuba-World Trade

Reuters Cuban oil and gas output rose only slightly to the equivalent of 4 million tonnes this year despite a significant increase in investment, state-run media reported on Wednesday. Oil output was 2.9 million tonnes, or around 57,000 bpd, assuming 7 barrels per tonne, down slightly from the 2.98 million… Read More

Dubai’s Profile Group agrees to take major stake in Leisure Canada

Posted in Cuba Business > Cuba-Canada Trade

PRESS RELEASE Vancouver Canada – Leisure Canada (the “Company” or “LCI”) is pleased to announce that the Board of Directors has approved the signing of a conditional agreement with Profile Investments LLC (“Profile”) pursuant to which Profile and persons associated therewith will acquire… Read More

Fourth PetroCaribe summit to be held in Cuba December 28

Posted in Cuba Business > Business In Cuba

ACN Cuban First Vice President Raul Castro will head the Cuban delegation that will participate in the Fourth Petrocaribe Summit that will take place next Friday in the central Cuban city of Cienfuegos. Foreign Minister Alejandro GonzalezDuring a press conference on Tuesday, Deputy Foreign Minister Alejandro… Read More

Sugarcane harvesting season gets underway in Cuba

Posted in Cuba Business > Business In Cuba

ACN The 2007-8 sugarcane harvesting season began in Cuba on Monday, with the start of operations at the Roberto Ramirez sugarcane factory in the municipality of Niquero, in eastern Granma province. A total of 52 factories will produce sugar this season, 14 of them starting operations in December. Harvesting… Read More

Herzfeld Caribbean Basin Fund to pay out $1.28 dividend to shareholders

Posted in Cuba Business > Cuba-World Trade

On Monday the stock price of the Herzfeld Caribbean Basin Fund dropped by more than $1.20 per share or about 12% yesterday but the price drop was due to the stock going X dividend of $1.28 per share so the drop was in line with the dividend payment to shareholders of $1.28. The press release announcing… Read More

Panel discussion on Cuba from Caribbean Central American Action conference

Posted in Cuba Business > Cuba-World Trade

Here is the program description from the CUBA session on Wednesday afternoon, December 5, 2007 from the Caribbean Central American Action conference It is anticipated that in a post-Castro Cuba the island’s economy will possibly evolve and eventually migrate into a free market economic model offering… Read More

Cuba to start collecting income tax on joint venture laborers

Posted in Cuba Business > Business In Cuba

Anthony Boadle | Reuters Cuba on Friday said it will allow foreign companies to pay Cuban employees with hard currency, a move that legalizes widespread “under the table” payments and requires workers to declare and pay tax on that income. Representatives of 698 foreign companies registered… Read More

Cuban government may be giving more land to Cuban farmers

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuban farmers are being offered more land to boost agricultural production in a sign the communist government under acting president Raul Castro wants to encourage more private enterprise. State officials are meeting with private farmers and cooperatives across Cuba, and participants… Read More

Cuban economy grows but tourism is down

Posted in Cuba Business > Business In Cuba

Marc Frank | Reuters Cuba’s economy is expected to grow about 10 percent in 2007, fueled by a jump in factory and farm output, in the country’s third straight year of double-digit growth, the official media reported on Tuesday. “This year’s plan is 10 percent and we are going… Read More

Business and shipping in a post-Castro post-Embargo Cuba

Posted in Cuba Business > Cuba-World Trade

The Economist | Foreign investment in Cuba The American businessman at this month’s international trade fair in Havana was full of excitement about the communist island’s investment prospects as its long-serving president ails. “It’s a perfect storm,” he enthused: “Fidel will… Read More

Cuban dissidents submit petition for one Cuban currency

Posted in Cuba Business > Business In Cuba

Reuters A group of dissident women handed in a petition signed by 10,738 people on Wednesday demanding an end to Cuba’s dual currency system which they said caused poverty and inequality. Seven women took the petition to the National Assembly, which is obliged by Cuba’s constitution to consider… Read More

Raul Castro allows private ownership… of airplanes

Posted in Cuba Business > Business In Cuba

AFP Interim leader Raul Castro has unveiled arguably the most significant economic reform since taking the helm in communist Cuba, announcing that in some cases aircraft can be privately owned. It is major news in a country that depends heavily on tourism to generate hard currency, though the announcement… Read More

31st Miami Conference on the Caribbean Basin by CCAA

Posted in Cuba Business > Cuba-World Trade

Central Caribbean American Action For the past 31 years, the Miami Conference has served as the only forum that focuses solely on the small economies of the Caribbean islands and Central American isthmus, the “CBI” beneficiary countries that make up the Third Border. The conference continues to unite… Read More

Update on Cuba Nickel and Cobalt Production

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters Cuba said at the weekend that unrefined nickel plus cobalt production was returning to normal after weeks of torrential rains in eastern Holguin province had shut down open pit mines and slowed output. “Nickel production in the province has begun to stabilize,” Sunday… Read More

Herzfeld Advisors to launch $100m Havana Partners Caribbean Hedge Fund

Posted in Cuba Business > Cuba-World Trade

FINAlternatives.com When Miami-based Thomas J. Herzfeld Advisors looks at the Caribbean—specifically Cuba—it sees the last bastion of emerging markets. The firm is launching a pan-Caribbean hedge fund to capitalize on opportunities that it says will be as abundant as the region’s palm trees and… Read More

Havana Trade Fair wrap up and US Cuba trade

Posted in Cuba Business > Cuba-US Trade

By Ray Sánchez | Sun Sentinel Cuba’s most significant trade event concludes today, although the number of U.S. companies in attendance this year dropped 30 percent to 100. But executives representing 16 Florida firms were there again this year, about as many as attended when American food executives… Read More

Cuban purchasing agency Alimport buying Canadian foods over US foods

Posted in Cuba Business > Cuba-Canada Trade

Cuba signed a contract with the Canadian Wheat Board on Tuesday to buy 150,000 tonnes of wheat, a sign that Canada’s food sales are recovering at the expense of U.S. exporters. The president of the Cuban food import agency Alimport, Pedro Alvarez, said the wheat purchase for delivery next year… Read More

FIHAV Havana Trade Fair draws 1400 companies from 53 countries - granma

Posted in Cuba Business > Cuba-World Trade

PHOTOS: OTMARO RODRIGUEZ BY HAYDEE LEON MOYA — Granma International staff writer — CONSUMER goods, machinery, equipment, technology, raw materials and various services representing 1,425 companies (428 Cuban and 997 foreign) are occupying the 25 pavilions of the Havana Trade Fair this week. The 25th… Read More

2nd Business forum of NAM and 25th FIHAV Havana Trade Fair opening

Posted in Cuba Business > Cuba-World Trade

Cuban News Agency The Second Business Forum of the Non-Aligned Movement to facilitate contact among entrepreneurs from NAM member and non-member countries, begins this Friday in Havana at the city’s Convention Center. The two-day meeting will focus on important international market issues, said… Read More

Bayamo Cuba dairy farm to get Canadian makeover

Posted in Cuba Business > Cuba-Canada Trade

Wendy R. Holm, P.Ag. | Western Dairy Farmer Those in the dairy industry already know about the Canada Cuba Farmer to Farmer Project. For those who are not, this is a snippet of our first initiative, Enhancing Sustainable Dairy Production Capacity in Cuba, brought together farmers from both countries… Read More

US Embargo reaches into wallets of Canadian citizens

Posted in Cuba Business > Cuba-Canada Trade

CBC news Millions of Canadians whose MasterCard charge cards were issued by credit unions are now being forced to abide by U.S. economic sanctions that prevent use of the cards in countries including Cuba and Iran. CU Electronic Transaction Services (CUETS), which issues MasterCards to credit… Read More

Dubai Ports World may build shipping terminal in Mariel Cuba

Posted in Cuba Business > Cuba-World Trade

In this file photo, containers are stacked in Dubai. (Regi Varghese/Reuters) Reuters State-owned Dubai Ports World, which relinquished control over six U.S. ports in a political firestorm last year, is studying plans to build a container terminal in the Cuban port of Mariel, business sources said.… Read More

US Agricultural sales to Cuba trailing off

Posted in Cuba Business > Cuba-US Trade

The Associated Press Ralph Kaehler and farmers like him have done millions of dollars in business with Cuba over the past five years, riding out the ups and downs of the Communist-ruled island’s turbulent relations with its capitalist neighbor to the north. Kaehler has been to Cuba a dozen times… Read More

Chinese students study Spanish and Culture in Cuba

Posted in Cuba Business > Cuba-World Trade

THIS ARTICLE FROM ACN: After one year of study and cultural interchange, the first 207 Chinese Bachelors of Arts in Spanish graduated on Monday in Cuba. During the graduation ceremony held in Havana’s Convention Center, Cuban Minister of Education, Juan Vela Valdes, said the Chinese graduates will… Read More

CUBA-VENEZUELA - INTERDEPENDENCE AND INFLUENCE by ICCAS

Posted in Cuba Business > Cuba-World Trade

Institute for Cuban and Cuban-American Studies | University of Miami By Dr. Eugenio Yánez, PhD in Economy, Graduate Degree in Political Science, Former Professor at the Universidad de La Habana. He is co-author of Jaque al Rey: La muerte de Fidel Castro and Secreto de Estado: Las primeras doce horas… Read More

Cuba and Venezuela sign Bolivian Alternative for the Americas contracts

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters Revolutionary allies Cuba and Venezuela signed a raft of economic accords on Monday aimed at furthering cooperation, including plans for nickel and oil development and a billion-dollar petrochemical complex in Cuba. Venezuelan President Hugo Chavez and acting Cuban President Raul… Read More

The Dominican Republic - A rising star in the Caribbean economy

Posted in Cuba Business > Business In Cuba

I don’t usually post non-Cuba related articles but this well written article from the Council on Hemispheric Affairs about the recent past and current state of the Dominican Republic forces the reader to compare it to Cuba and wonder about the possibilities for a post Castro post Embargo Cuba.… Read More

Granma.cu article on Cuba Spain business cooperation

Posted in Cuba Business > Cuba-World Trade

New push in trade relations 15th Meeting of the Spanish-Cuban Trade Committee • Spanish Minister praises results CUBAN and Spanish trade officials met this week at the Hotel Nacional in Havana with the purpose of giving a new boost to trade relations between the two countries. The Spanish delegation… Read More

Granma.cu article on Cuba Vietnam business cooperation

Posted in Cuba Business > Cuba-World Trade

Genetic Engineering and Biotechnology Center to be built in Hanoi Meeting between Raúl and Vietnamese minister of construction COOPERATIVE relations between the two countries, consolidated many years ago, were expanded this week during the 25th session of the Intergovernmental Commission for Economic… Read More

Are economic reforms in Cuba all talk and no action?

Posted in Cuba Business > Business In Cuba

original title: Cuba may be considering a more market-driven economy By Ray Sánchez | Sun Sentinel | Havana Bureau Two dozen theater workers recently sat around a sun-splashed garden cafeteria in the Vedado neighborhood. They had been summoned by bosses to discuss Cuba’s economic woes. Skeptics… Read More

Word goes out to Cuban workers - Stop stealing from the government

Posted in Cuba Business > Business In Cuba

Cuba’s vice president: Country must become more efficient to win ‘economic war’ By: WILL WEISSERT - Associated Press Cuba needs to produce higher-quality goods more efficiently, cut graft and reduce reliance on gasoline, a major economic leader said in remarks published Sunday. Vice… Read More

Raul Castro meets with Vietnam Minister of Construction

Posted in Cuba Business > Cuba-World Trade

Juventudrebelde.co.cu Nguyen Hong Quan heads the Vietnamese delegation to the 25th Session of the Cuba-Vietnam Inter-governmental Commission Cuban First Vice President Raúl Castro received Vietnamese Minister of Construction Nguyen Hong Quan who is heading his country’s delegation at the 25th Session… Read More

Vietnam and Cuba meet for trade, business and investment opportunities

Posted in Cuba Business > Cuba-World Trade

Asia Pulse Over 100 Vietnamese and Cuban business executives met in Havana on Sept. 24 to seek trade, business and investment opportunities and sign contracts. Cabinet Minister Ricardo Cabrisas called on businesses from the two countries to further work in energy, agriculture, information technology,… Read More

Venezuela gives Cuba $100million load to restore railroads

Posted in Cuba Business > Business In Cuba

Reuters Venezuela granted Cuba a US$100-million loan to improve its railways, Cuban media said on Tuesday, as the island nation moves to rebuild its dilapidated infrastructure after years of economic crisis. Cuba’s Communist Party newspaper Granma said Venezuela’s Economic and Social Development… Read More

Santiago de Cuba farm increases efficiency by paying workers more

Posted in Cuba Business > Business In Cuba

Hmmm. This is a novel idea. Pay workers a decent rate and they are more productive. Maybe this is one small glimmer of hope that Raul Castro’s call for increasing pay to farmers and more efficient government. Is this little story the start of something big? Prensa Latina Efficiency and Fair Salary… Read More

Cuba launches Plaza Carlos III online shopping mall store

Posted in Cuba Business > Cuba-World Trade

According to DTCuba.com: “E-commerce is gaining ground in Cuba’s economy, as part of authorities’ efforts to take advantage of information technologies. In that direction, the Plaza Carlos III Shopping Mall opened a virtual shop for its clients at CarlosTercero.ca. The website allows… Read More

Herzfeld CUBA fund to announces non-transferable rights offering

Posted in Cuba Business > Cuba-US Trade

MIAMI—(BUSINESS WIRE)—The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) announced initial terms of its Non-Transferable Rights Offering that was originally announced on July 24, 2007. The Record Date for the Rights Offering will be September 26, 2007. Pursuant to the… Read More

Easing Embargo would greatly increase exports from port of Corpus Christi

Posted in Cuba Business > Cuba-US Trade

By Ron Smith | Southwest Farm Press Editorial Staff Liberalized trade with Cuba could double or triple the volume of agricultural exports leaving the Port of Corpus Christi, Texas. “The Trade Sanctions and Reform Act allows (U.S. interests) to sell agricultural products, medicine and lumber to Cuba,”… Read More

Kirby Jones of US Cuba Trade Association gives Cuba business talk

Posted in Cuba Business > Cuba-US Trade

Bradenton.com Head of U.S.-Cuba Trade Association in Sarasota to tell of nation’s dealings without U.S. Cuba is doing billions of dollars in trade with other countries and is set to explore vast deposits of oil and natural gas off its shoreline while the United States continues to sit on the sidelines.… Read More

Carlos Lage, Cuban economics, PetroCaribe and the FAR

Posted in Cuba Business > Business In Cuba

Reuters Cuban Vice President Carlos Lage squashed speculation that Communist Cuba is heading toward Chinese-style reforms of its economy, in a speech to state managers published on Thursday. Cuba will not follow the paths of other Communist-run nations, such as China and Vietnam where capitalist markets… Read More

Camilo Cienfuegos oil refinery upgraded to receive 228m oil tankers

Posted in Cuba Business > Cuba-World Trade

Radio Habana Cuba In the central Cuban province of Cienfuegos, work is underway dredging berths at the Camilo Cienfuegos Oil Refinery to increase capacity to receive 228 meter long crude oil tankers with up to 70,000 tons displacement and a keel depth of 11.9 meters. According to Jose Manuel Suarez,… Read More

Hugo Chavez wants to build “Great Trans-Caribbean Gas Pipeline” to Cuba

Posted in Cuba Business > Cuba-World Trade

Reuters Venezuela President Hugo Chavez has come out in support of constructing a natural gas pipeline beneath the Caribbean to supply neighboring islands and Cuba, and possibly extending to Mexico’s Yucatan Peninsula. Chavez called for the Venezuela-to-Caribbean pipeline in a speech to the PetroCaribe… Read More

Active Cuban Foreign Debt jumps to $8 billion - inactive at another $8 billion

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuba’s actively serviced foreign debt jumped nearly $2 billion in 2006 to $7.794 billion as foreign suppliers more than doubled their credits to the country, according to figures posted on the Web site of the National Statistics Office on Friday. Most of Cuba’s… Read More

Will Raul Castro open the Cuban economy?

Posted in Cuba Business > Business In Cuba

Note: It was announced this morning that Raul Castro will be giving the July 26 speech and not Fidel Castro. Raul Castro proves no lightweight in leading Cuba By Marc Frank | Reuters Raul Castro has kept Cuba stable and its economy growing in his first year in charge since his brother Fidel Castro was… Read More

International Trade Commission report on US exports and travel to Cuba

Posted in Cuba Business > Cuba-US Trade

U.S. AGRICULTURE SALES TO CUBA WOULD GROW SIGNIFICANTLY IF U.S. TRADE AND TRAVEL RESTRICTIONS WERE LIFTED, SAYS ITC The United States could provide more than half of Cuba’s agricultural, fish, and forest product imports if certain U.S. trade and travel restrictions to Cuba were lifted, reports… Read More

US Patriot Act restricting foreign banks from doing business in Cuba

Posted in Cuba Business > Cuba-World Trade

By Anthony Boadle | Reuters Heightened scrutiny of banking transactions by the United States since the September 11 attacks has led European and Canadian banks to curtail dealings with Cuba, bankers and businesses say. Cuba ceased exporting armed revolution to Latin America two decades ago, but Washington… Read More

Cuba ranks 156 out of 157 in Index of Economic Freedom

Posted in Cuba Business > Business In Cuba

Carpe Diem blog According to the 2007 Heritage/Wall Street Journal Index of Economic Freedom, Cuba has a score of 29.7 (29.7% economically free) out of 100, and ranks 156 out of 157 countries, see the ranked list here. North Korea is #157 with only 3% freedom, and Libya ranks #155 with 34.5%… Read More

*sticky* Havana Journal Cuba Forums expanded

Posted in Cuba Business > Cuba-US Trade

We have had the Cuba Forums for many years but never really promoted them. Several months ago we started promoting them and the traffic, threads and comments have increased so we have spent a lot of time redesigning, updating and expanding them. You have to be a member to post but all visitors can read… Read More

Havana Journal Cuba Business Report - July 9 2007 - Herzfeld Cuba fund - video

Posted in Cuba Business > Cuba-US Trade

Publisher note: This is my first attempt at adding some video content to the site. I plan to offer a variety of short news reports featuring the most interesting Cuba related stories of the day. Please bare with me while I try to find some better talent Running time is just two and a half minutes. Herzfeld… Read More

Cuban labor to assemble Chinese Yutong buses in Guanajay outside Havana

Posted in Cuba Business > Business In Cuba

DTCuba.com Cuba will assemble 200 Chinese-made Yutong buses to improve the country’s transportation services. The operations will begin during the second semester of the year at the Evelio Prieto company, in the Havana municipality of Guanajay. This will be the first batch of Yutong buses that… Read More

Port of Havana Cuba gets major upgrade for larger vessels

Posted in Cuba Business > Cuba-World Trade

DTCuba.com The Andrés González Lines terminal, in the port of Havana, will benefit from an investment program to increase its operation capacity. The project, which is under negotiations, includes the enlargement of storage facilities, and the installation of new hoisting equipment and generators.… Read More

Cuban government paying out more to Cuban farmers and coops

Posted in Cuba Business > Business In Cuba

AP Cuba is repaying debts to farmers and promising higher prices for milk and meat in an attempt to increase flagging food production in a communist society that depends on the state for most of what it eats. It’s trying to head off a crisis in its food system: Production dropped 7 percent last… Read More

Can Cuba become an economic powerhouse in a post-Castro era?

Posted in Cuba Business > Cuba-World Trade

I would like to propose this question to the Havana Journal readers. First of all, let’s leave out any opinions about how Fidel and/or Raul squandered their opportunity to make Cuba a great economic powerhouse. Let’s discuss the potential in a democratically controlled Cuba with an open… Read More

Details about Cuba’s new oil drilling and power capacity

Posted in Cuba Business > Business In Cuba

Granma.cu Raúl attends inauguration Country’s electricity capacity now in excess of maximum demand Agreements with Canadian Sherritt Company anticipate investments in the mining-energy sector worth $1.25 billion THE Cuban-Canadian joint venture ENERGAS S.A. has opened two 35 Megawatt electricity generating… Read More

Iran makes $200million loan to Cuba

Posted in Cuba Business > Cuba-World Trade

PressTV.ir Iran has pledged to grant a $ 200 million loan to Cuba as the two countries are bent on stepping up economic ties. The agreement was reached on Friday during a meeting between the visiting Iranian Minister of Industries and Mining, Alireza Tahmasbi, and his Cuban counterpart. Following the… Read More

US International Trade Commission visits Cuba to explore end of Embargo

Posted in Cuba Business > Cuba-US Trade

By Marc Frank | Reuters The U.S. International Trade Commission wrapped up a five-day visit to Cuba on Friday to gauge how Communist authorities might react if U.S. agriculture trade rules and travel restrictions were lifted. The U.S. Senate Committee on Finances requested the independent government… Read More

Cuba related stocks to watch

Posted in Cuba Business > Cuba-World Trade

Update December 2010: We have just updated our Cuba Stock Index page at our sister site, Havana.biz, to include all the companies we think might benefit from a free/freer market economy in Cuba. Here is a list of some Cuba related stocks that I follow. In full disclosure, I may currently own, previously… Read More

Sherritt to invest $1.25billion in oil drilling projects in cuba

Posted in Cuba Business > Cuba-Canada Trade

TheStar.com Canada’s Sherritt International Corp. said Wednesday it plans to invest $1.25 billion (U.S.) in Cuba over the next two years, bolstering its position in the island’s oil, natural gas, electricity and nickel and cobalt mining sectors. “Cuba is one of our favourite… Read More

Funds allocated for improvement of Cuban shipping ports

Posted in Cuba Business > Cuba-World Trade

ACN Over 180 million dollars are to be spent on the refurbishment and specialization of ports in Cuba through 2010. To ensure a better and more efficient functioning of the facilities, new high tech equipment, forklifts, silos and other handling devices have been ordered. Work on the dredging of port… Read More

Alimport Food Conference yields $118million in US deals from Cuba

Posted in Cuba Business > Cuba-US Trade

By ANITA SNOW | Associated Press Cuba agreed Wednesday to buy $118 million in U.S. food products ranging from pork and corn to soybeans and Spam, and said it was negotiating deals that could bring the total to nearly $150 million. “The sales this week went beyond all of our expectations,”… Read More

Cuenta Propistas - entrepreneurs doing business in Cuba

Posted in Cuba Business > Business In Cuba

By Mike Williams Palm Beach Post-Cox News Service It’s nothing but a simple shed with a counter stuck in the front yard under a shade tree. The menu, a tiny chalkboard hung from a rusty nail on the wall, offers only two items: pizza and ice cream. But the small food stand Esperanza Perez has owned… Read More

German company does $500m machine sales deal with Cuba

Posted in Cuba Business > Cuba-World Trade

http://www.guardian.co.uk Thomas Lang, a Bavarian businessman, proudly describes his delight at striking a deal with the Cuban government. “We’ve been asked to send 808 pumps to help the country’s infrastructure get on its feet,” he tells an audience at Munich’s… Read More

More Chinese officials in Cuba for trade talks

Posted in Cuba Business > Cuba-World Trade

Just a few days ago, Chinese Defense Minister Cao Ganchuan and Singapore’s Deputy Prime Minister Shunmugam Jayakumar found themselves in Havana at the same time, a coincidence that reflected a recent flurry of diplomatic activity between Cuba and Asia. “Asia is the area of the world that has the… Read More

CNBC Video on Florida to Havana shipping

Posted in Cuba Business > Cuba-US Trade

U.S. trade with Cuba has been embargoed for 45 years. But Crowley Shipping does business with Cuba every week, and has since 2001. Under an exception to the embargo for agricultural products, Crowley sends one ship a week between Florida and Havana. The man who captained the first U.S. vessel in more… Read More

Cuba’s opportunity to be an oil producing nation

Posted in Cuba Business > Cuba-World Trade

By Jorge R. Piñon, a senior research associate at the University of Miami’s Institute for Cuban and Cuban-American Studies and former president of Amoco Oil Latin America. Opportunities The United States Geological Survey in its “Assessment of Undiscovered Oil and Gas Resources of the North Cuba… Read More

Sherrit International - Alternative to Herzfeld Caribbean Basin CUBA Fund

Posted in Cuba Business > Cuba-World Trade

Dale Baker | Fool.com | Motley Fool If you want to profit from the inevitable demise of Fidel Castro and his 48-year stranglehold on Cuba’s economy, skip the closed-end Herzfeld Caribbean Basin Fund (Stock Chart for NasdaqCM:CUBA)and its somewhat misleading symbol. Other Fools have noted how Herzfeld’s… Read More

Herzfeld CUBA fund up about 10% today

Posted in Cuba Business > Cuba-World Trade

Here’s an interesting side effect to Fidel Castro’s no show today at the May Day rally. It would appear that people buying the fund see Castro’s no show as a positive development for Cuba related investments. Just my opinion. This fund invests in stocks positioned to appreciate in a… Read More

Cuban monetary system may change to only convertible Cuban peso

Posted in Cuba Business > Business In Cuba

Associated Press The economics minister said Saturday that Cuba hopes to return to a single currency, a departure from the current two-currency system that makes many consumer goods unattainable for most Cubans. Communist Cuba’s dual economy emerged more than 15 years ago after the country lost… Read More

Bacardi loses Havana Club rum trademark dispute in Spain

Posted in Cuba Business > Cuba-World Trade

Prensa Latina The Provincial Court of Madrid, Spain, has rejected the Bacardi claims over ownership of the Havana Club rum, speaker persons of the distribution firm of the Cuban spirit with headquarters in Havana said. A report by the distributor, Havana Club International S.A., said that the court rejected… Read More

Duane Morris law firm wants to have a Cuba office someday

Posted in Cuba Business > Cuba-US Trade

By Chris Mondics | Philadelphia Inquirer Lawyer Tim Ashby of Duane Morris is leading the Philadelphia law firm's Cuba initiative from Miami. Despite persistent opposition in Congress and from the Bush administration to Cuba’s communist government, American trade and travel restrictions on… Read More

Leisure Canada’s Monte Barreto projects moves forward with surface rights

Posted in Cuba Business > Cuba-Canada Trade

Press Release from Leisure Canada Leisure Canada Inc. (the “Company”), a premier real-estate developer in Cuba, announces today that it has received a legal opinion letter from a recognized local firm, Consultoria Juridica International, confirming the execution of the surface rights on the 34,000… Read More

Restoration of Habana Vieja continues

Posted in Cuba Business > Business In Cuba

By Mike Di Paola | Bloomberg “There might be 50 families living in there,” says my Cuban guide, Osmin. He points to a squalid Havana building on the Plaza Vieja, one of Old Havana’s grand colonial squares. Almost all the surrounding buildings are sparkling and freshly renovated. Standing… Read More

Delaware wants to do business with Cuba

Posted in Cuba Business > Cuba-US Trade

By LULADEY B. TADESSE | The News Journal After traveling to Cuba earlier this month, Delaware officials predict plenty of opportunities to export agricultural products there. Cubans are interested in buying a variety of products from Delaware, including frozen poultry, apples, wheat, potatoes and soybeans.… Read More

Spain Foreign Minister to visit Cuba for high level talks

Posted in Cuba Business > Cuba-World Trade

Spain’s foreign minister will make a two-day visit to Cuba this weekend for talks with authorities, officials said, although it was not immediately known if he would try to meet ailing leader Fidel Castro. It’s the first official visit by a senior Spanish minister to the island in about 10 years.… Read More

Quick update on billion dollar plus business deals with Cuba and China

Posted in Cuba Business > Cuba-World Trade

Reuters Cuba and China pledged to build on their rapidly growing trade on Tuesday, ending two days of meetings with a vow to do more in industries like oil, pharmaceuticals, nickel, medical services and tourism. Bilateral trade between the two countries doubled in 2006 to nearly $1.8 billion, according… Read More

Havana Club rum brand sold 2.6 million cases in 2006

Posted in Cuba Business > Business In Cuba

By WILL WEISSERT Associated Press Writer Cuba’s Havana Club rum brand sold a record 2.6 million cases last year, fueled by a 30 percent sales surge in the island’s domestic market, company officials said Wednesday. Enrique Noste, Havana Club’s director of marketing for Cuba, said the… Read More

Nebraska Governor Dave Heineman signs agricultural trade deal with Cuba

Posted in Cuba Business > Cuba-US Trade

by Peter Shinn | Brownfield.com Nebraska Governor Dave Heineman and more than two-dozen Nebraska agribusiness professionals and government officials arrived in Havana, Cuba Monday, with a single-minded goal of generating additional agricultural sales to Cuba. Heineman’s visit, his third as governor,… Read More

US top seller of food to Cuba

Posted in Cuba Business > Cuba-US Trade

By WILL WEISSERT | Associated Press Writer Since 2003, one country has been the main supplier of food to Fidel Castro’s Cuba: the United States. Surprised? You have good company. Many Americans think their government’s 45-year-old embargo blocks all trade with the communist government, but… Read More

Sen. Martinez proposes bill to punish foreign companies for drilling for Cuban oil

Posted in Cuba Business > Cuba-World Trade

By William E. Gibson | South Florida Sun-Sentinel Sen. Mel Martinez introduced a bill on Wednesday that would punish foreign companies and investors who help Cuba drill for oil and natural gas near the shores of Key West. Martinez, a Republican, and Sen. Bill Nelson, a Democrat, are trying to fend off… Read More

Center for International Policy Trade Mission to Cuba - Wrap Up

Posted in Cuba Business > Cuba-US Trade

SouthWestFarmPress.com Representatives from prominent U.S. trade associations hosted a press conference at the National Press Club to provide their firsthand perspective on the state of the Cuban economy after returning from a fact-finding mission to Cuba, which took place February 19-22. Members of… Read More

Cuba China trade reaches $1.8 billion in 2006

Posted in Cuba Business > Cuba-World Trade

Associated Press Trade between Cuba and China ballooned to US$1.8 billion (euro1.4 billion) last year, double that of 2005, Beijing’s ambassador to the island said. China’s exports of buses, locomotives and farm equipment and supplies to Cuba in 2006 helped account for the sharp increase… Read More

News from 30 days after post-Communist Cuba - fiction

Posted in Cuba Business > Business In Cuba

Blogspot entry with link to full text below. By now the majority of Cubans have reversed the effects of starvation and other privations of the former government and are on the mend. With full stomachs it is easier to smile and dance in the streets and clock in at work in their new jobs. Havana is filled… Read More

Governor Otter of Idaho seeks OFAC permission to travel to Cuba

Posted in Cuba Business > Cuba-US Trade

Ken Dey | Idaho Statesman Governor Butch Otter of Idaho is hoping his first trade mission will be to Cuba. But before the trip can happen the state has to receive approval from the U.S. State Department to visit the communist country. Cuba has been under a trade and travel embargo by the United States… Read More

Ileana Ros-Lehtinen wants to restrict international oil drilling business

Posted in Cuba Business > Cuba-World Trade

Reuters The top Republican on the U.S. House of Representatives’ Foreign Affairs Committee on Thursday said she wants to stop Cuba from drilling for oil in waters 45 miles (72 km) from Key West, Florida. U.S. Rep. Ileana Ros-Lehtinen of Florida said Cuba’s drilling plans could endanger… Read More

As the world begins to drill for oil in Cuba, the US can only watch

Posted in Cuba Business > Cuba-World Trade

FORTUNE Magazine | By Carolyn Whelan Sometime later this year, less than 70 miles from Florida, a consortium of Spanish, Indian and Norwegian companies will likely start drilling for oil. It could mark the beginning of a Cuban oil rush - one that American oil companies won’t be able to join, despite… Read More

Chicago Tribune reporter Gary Marx ordered out of Cuba

Posted in Cuba Business > Business In Cuba

By Phil Rosenthal | Tribune media columnist Chicago Tribune foreign correspondent Gary Marx, who has been based in Havana since 2002, was told Wednesday by Cuban officials his press credential will not be renewed and he can no longer report from there. “They said I’ve been here long enough… Read More

United States NOT involved in drilling and possible discovery of oil in Cuba

Posted in Cuba Business > Cuba-World Trade

By David J. Lynch | USA TODAY One day soon — possibly before the end of this year — an oil rig will maneuver into position in waters less than 100 miles from the coast of Florida. A drill will plunge into the inky sea and begin chewing its way into the ocean floor, hunting for oil. But the drilling… Read More

Doing business in Cuba - Restrictions and Requirements

Posted in Cuba Business > Business In Cuba

Sun Sentinel Think of the nightmares possible in doing business overseas: Tight government regulations. Supply shortages. Sky-high utility bills. Unmotivated workers. Dismal customer service. International companies in communist-run Cuba face all of those - and more. The London-based Economist Intelligence… Read More

Thomas Herzfeld Cuba Caribbean Fund interview on video

Posted in Cuba Business > Cuba-US Trade

By Steve Mort | VOA With President Fidel Castro in declining health, a growing number of companies in the United States are making plans to do business in Cuba. They are doing so based on reports that Acting President Raul Castro is more pragmatic than his ailing older brother and could move Cuba towards… Read More

Perbercan oil drilling operations in Cuba - status report

Posted in Cuba Business > Cuba-World Trade

Below is an email (for public release) we recieved in its entirety: REPORT ON OPERATIONS Montreal, Québec, February 15, 2007– PEBERCAN INC. (the “Company”), (TSX: PBC) specializes in the exploration and production of hydrocarbons in Cuba. The common shares of the Company are listed on the Toronto… Read More

US House Reps propose bill to ease and clarify US Cuba trade rules

Posted in Cuba Business > Cuba-US Trade

Reuters Four members of the U.S. House proposed easier rules for selling food to Cuba on Thursday, such as letting Cuba pay U.S. banks directly instead of routing the money through foreign banks. The legislation also would clarify the meaning of cash sales to Cuba. The Bush administration says Cuba must… Read More

Another hatchet job on CUBA fund by Motley Fool

Posted in Cuba Business > Cuba-US Trade

Living Through Another Cuba By Rick Aristotle Munarriz | Motley Fool February 6, 2007 We all know that Fidel Castro is on his deathbed, but the Cuban leader isn’t the only time bomb ticking. Another one comes in the form of the Herzfeld Caribbean Basin Fund (Nasdaq: CUBA) closed-end fund.… Read More

Will Raul Castro follow the Chinese model for the Cuban economy?

Posted in Cuba Business > Business In Cuba

By Joseph Contreras | Newsweek International Feb. 12, 2007 issue - After months out of the public eye, Fidel Castro was suddenly back last week, appearing on Cuban TV for a meeting with Venezuelan President Hugo Chávez. Though he’s put on some weight since his last appearance, the mumbling Cuban… Read More

Foreign Joint Ventures in Cuba decline to 236 in 2006

Posted in Cuba Business > Cuba-World Trade

By Esteban Israel | REUTERS The number of foreign companies operating in Cuba has continued to decline and a new investment expected from China has not materialized, a Cuban cabinet minister said Monday. Joint ventures between Cuba’s communist state and foreign investors fell to 236 at the end… Read More

Raul Castro talks of economic reforms but not free market or privatization

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuba’s armed forces, which run the Communist country’s most efficient companies, joined a nascent public debate on future economic policy on Tuesday and appeared to take a stance opposed to full free-market reforms. The debate, said to be prompted by acting President… Read More

Lofty valuation of Herzfeld CUBA mutual fund may rise more post-Embargo

Posted in Cuba Business > Cuba-US Trade

Note: Original title: Investing in a Post-Fidel Cuba By Michael Katz | TheStreet.com For decades, corporate America has been hoping that Fidel Castro’s departure would bring an end to the trade embargo, opening the country to U.S. investment. Almost six months after the Cuban leader stepped aside,… Read More

US businesses and entrepreneurs begin to plan for an open market Cuba

Posted in Cuba Business > Cuba-US Trade

By CHRISTINA HOAG | Miami Herald From small South Florida businesses run by Cuban exiles to multinationals with sprawling global operations, many companies have long had a Cuba plan in a drawer or a file somewhere, ready for the day when the U.S. trade embargo is lifted. Companies are now dusting off… Read More

The business of Havana Club Cuban rum

Posted in Cuba Business > Cuba-World Trade

By Doreen Hemlock | Sun Sentinel The restaurant serves chicken with rum sauce. In the courtyard, a bartender whips up a new cocktail: fresh-squeezed sugar cane and orange juices with white rum. The guided tour concludes with a tasting, complete with the finest blends. Tourists flock daily to the Havana… Read More

Current and future of Herzfeld’s Cuban mutual funds

Posted in Cuba Business > Cuba-World Trade

Miami Herald | By MARTHA BRANNIGAN Miami investment advisor Thomas J. Herzfeld created his closed-end fund for the day—near or distant—when political change opens Cuba to investment. But it’s doing just fine in the meantime. Shares of the Herzfeld Caribbean Basin Fund, which trades… Read More

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