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Cuban economy - Good times or bad times? - Depends who you believe.

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal I want to sum up the state of the Cuban economy for anyone interested in the truth about the GDP in Cuba, Cuban accounting practices, Cuban debt and the import and export markets in Cuba. Many end of year stories about the economy in Cuba have recently been written by many… Read More

Questionable accounting by Cuban government accepted by United Nations

Posted in Cuba Business > Business In Cuba

Reporting by Marc Frank and editing by Jeff Franks | Reuters A key United Nations commission has agreed after several years of dispute with Cuba to include social investment in calculations of the communist-run country’s Gross Domestic Product, a Cuban official said on Tuesday. The decision by… Read More

US agricultural leaders optimistic about lifting US trade Embargo on Cuba

Posted in Cuba Business > Cuba-US Trade

By Candace Krebs | Ag Journal Though agricultural leaders’ expectations for the impending Obama Administration are mixed, one thing that excites many of them is the prospect of freer and more abundant trade with Cuba. Many states and trade groups have sent delegations there with the hope of selling… Read More

Cuba delaying debt payments to France and businesses

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Three hurricanes and the global financial crisis have left Cuba strapped for cash, forcing the government to juggle debt payments and seek new financing, diplomatic and business sources say. France is the latest government to receive notice from Cuba that it needs to reschedule… Read More

Carbonera Club opens application phase for new vacation resort in Cuba

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal Information gathered from promotional email, press release and company website. The Havana Journal received a promotional email today from Esencia Hotels and Resorts announcing that applications for membership and private villa ownership at the resort are now being accepted… Read More

China’s Hu ignores Cuban debt, meets Fidel and Raul Castro sings

Posted in Cuba Business > Cuba-World Trade

By Jeff Franks | Reuters Chinese President Hu Jintao agreed to put off some of Cuba’s debt payments and gave the island $80 million for hospital modernization and other projects during a visit on Tuesday to strengthen ties between the Communist-run countries. His two-day stopover, which included… Read More

Chinese President in Cuba, Russian President soon, Lula three weeks ago

Posted in Cuba Business > Cuba-World Trade

By MARTIN SIEFF | UPI Chinese President Hu Jintao Monday proclaimed his huge nation’s commitment to boosting its power in the Western Hemisphere by paying a state visit to Cuba. To add insult to injury for lame-duck U.S. President George W. Bush, Hu flew to Cuba, a nation Bush has tried to keep… Read More

China President to visit Cuba Monday for business and to restructure debt

Posted in Cuba Business > Cuba-World Trade

Reuters China’s President Hu Jintao travels to Cuba Monday for a close-up look at the government of new President Raul Castro, a fellow communist struggling to lead his island nation through the devastating effects of three hurricanes and the international financial crisis. Hu visited Cuba in 2004… Read More

Pebercan Cuban oil production and earnings report for third quarter 2008

Posted in Cuba Business > Cuba-Canada Trade

PEBERCAN INC. (the “Company”), (TSX: PBC) today unveiled its results for the third quarter ended September 30, 2008. All amounts are in U.S. dollars. Highlights: Q3 2008 versus Q3 2007   * Revenues up 32.3% to $38,696,000   * Block 7 total production: 1,678,548 barrels (18,245 bbl/d)… Read More

Cuba Fund declares dividend and names Erik Herzfeld as co-portfolio manager

Posted in Cuba Business > Cuba-US Trade

Press Release The Board of Directors of The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) declared a year-end distribution of $0.211 per share, consisting of $0.1616 from income and $0.0494 from net long-term capital gains, payable on January 5, 2009 to stockholders of record December 12, 2008.… Read More

Marta Lomas removed as Cuba Minister of Foreign Investment

Posted in Cuba Business > Cuba-World Trade

Reuters Cuban President Raul Castro has named United Nations Ambassador Rodrigo Malmierca to be Cuba’s minister of foreign investment, state-run television said on Wednesday. Malmierca, a 52-year-old economist, will replace the current minister, Marta Lomas, according to the report, which did not… Read More

Cuba Classifieds launched at Havana Journal

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal Last week I created a whole new section in the Cuba Forum called Cuba Classifieds and Marketplace. All members (you have to be logged in to see the New Topic and Reply buttons) can create their own “wanted” and “offered” threads. In the Wanted and Requests… Read More

November 2008 issue of Cuba Trade and Investment News

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal Below are some of the headlines from the November 2008 issue of Cuba Trade and Investment News. We strongly suggest that anyone with a business eye towards Cuba to subscribe to this publication. (This is not a paid advertisement.) Cuba’s main crisis-fighting tool: Oil In… Read More

Sherritt to rethink oil drilling plan - Cuba not paying business debts

Posted in Cuba Business > Cuba-World Trade

By Wilfredo Cancio Isla | The Miami Herald The $392.8 million owed by the Cuban government to Sherritt International could jeopardize petroleum drilling operations conducted by the Canadian company in Cuba, as soon as next year. According to the company’s third trimester report (July-September)… Read More

Cuba to work with Algeria to develop ophthalmology hospitals

Posted in Cuba Business > Business In Cuba

Elkhbar.com The Cuban Ambassador to Algeria, Mr. Eumelio Caballero Rodriguez, has praised the Algerian donations estimated at two million dollars following the hurricanes that hit Cuba. Speaking at the first press conference he held in Algiers, Ambassador Rodriguez has indicated that the partnership… Read More

Cuba seeking Saudi Arabia business and tourists

Posted in Cuba Business > Cuba-World Trade

Md. Rasooldeen | Arab News Cuba foresees stronger relations with the Kingdom following the recent opening of its embassy in Riyadh, said Laureano Rodriguez Castro, the Cuban ambassador to Saudi Arabia, in a press briefing held at the embassy yesterday. “We have been maintaining good relations with… Read More

Venezuela and Cuba to invest one billion dollars in Cuban oil refineries

Posted in Cuba Business > Cuba-World Trade

ElUniversal.com Venezuela and Cuba are to invest thousand million dollars to take the island’s refining capacity to about 350,000 bpd of oil by 2012, said on Tuesday the Cuban media. Cuban Minister of Basic Industry Yadira García gave the news, although falling oil prices could curb Venezuela’s… Read More

Brazil President Lula to meet with Raul Castro in Cuba on Thursday

Posted in Cuba Business > Cuba-World Trade

ChinaView.cn Brazil’s President Luiz Inacio Lula da Silva will visit the Cuban capital of Havana on Thursday to meet with the country’s leader Raul Castro, presidential spokesman Marcelo Baumbach confirmed Tuesday. During the meeting, an agreement on the exploitation of oil off the Cuban… Read More

Electricity restored in Cuba according to Prensa Latina… but not really

Posted in Cuba Business > Business In Cuba

Electricity Restored in Cuba - Pinar del Rio, Cuba, Oct 26 (Prensa Latina) More than 99 percent of Cuban territory has been connected to the national power grid, as a result of hard work to reestablish electricity services damaged by hurricanes Gustav and Ike. Works will be completed soon in Cuba’s… Read More

Will Cuban oil lubricate US Cuba relations?

Posted in Cuba Business > Cuba-World Trade

(Original title: How Cuba’s oil could change the US Embargo. Sorry, thought mine was better By Tim Padgett | Time.com For decades, the only promise most Cubans saw in the ocean north of their island was the current that carries homemade rafts to Florida. That all changed a few years ago when geologists… Read More

Russia to work on Cuba transportation and develop fleet of oil tankers

Posted in Cuba Business > Cuba-World Trade

RIA Novosti Russia has offered Cuba assistance in renovating its transportation system, rebuilding its energy sector and acquiring a fleet of oil tankers, Russia’s deputy minister of industry and trade said on Tuesday. “There are gaps in bilateral relations which need to be bridged, such… Read More

Serbia to negotiate debt from Cuba and wants to do more business there

Posted in Cuba Business > Cuba-World Trade

Ekonomist Media Group (EMG) is the leading provider of media conent in Serbia focusing on economy, business and finance. The memorandum covers several areas of cooperation – trade in industrial, agricultural and nutritional goods, pharmaceutical products, tourism services, building services, health-care… Read More

Cuba to have new wage policies - work harder and make more money

Posted in Cuba Business > Business In Cuba

Reuters Cuba is pushing state-run companies to adopt new wage policies by 2009 that would allow workers and managers to earn as much as they can, local media said on Thursday, as President Raul Castro seeks to improve economic performance. The Labor Ministry, in conjunction with Raul Castro’s closest… Read More

Spain rewards Cuba with debt forgiveness and visit by Prime Minister Zapatero

Posted in Cuba Business > Cuba-World Trade

By JORGE SAINZ | Associated Press The prime minister of Spain, which played a key role in persuading the European Union to lift diplomatic sanctions against Cuba, has accepted an invitation from President Raul Castro to visit next year, a Spanish official said Tuesday. Spanish Foreign Minister Miguel… Read More

Tens of thousands of Cubans apply to cultivate Cuban farm land

Posted in Cuba Business > Business In Cuba

BY RAISA PAGES | Granma.cu Over 445,00 hectares of land in usufruct were applied for by 34,661 individuals or legal entities throughout the country to exploit free of charge. Pedro Olivera Gutiérrez, director of the State Center for Land Control, told Granma International that, of the 34,661 applications… Read More

Cuban investments from Qatar, OPEC Fund and Dubai Ports World in Mariel

Posted in Cuba Business > Cuba-World Trade

Written by Hans de Salas del Valle. He is a Research Associate at the Cuba Transition Project, Institute for Cuban and Cuban-American Studies, University of Miami.     The reach of Cuban diplomacy in today’s Middle East transcends Havana’s historic alliances with fellow archenemies of the… Read More

Havana Journal opens Cuba information submissions via email

Posted in Cuba Business > Cuba-US Trade

Send us your Cuba related: —News tips—Press releases—Announcements of Cuba related events, classes, seminars, art shows, movie screenings, book launches etc.—Travel notes from your Cuba trip (good and bad experiences)—New product or service launches—Requests for information… Read More

Vietnam agency to build giant resort in Cuba

Posted in Cuba Business > Cuba-World Trade

The Housing and Urban Development Corporation of Vietnam has signed a memorandum of understanding with Cuba’s Palmares Group to build a 36-hole golf course and tourism/service/apartment complex in Colodera Bauta. The project is designed to cover an area of 300-400 hectares including a 180 hectare… Read More

Food shortages starting in Cuba - Is the system freezing up?

Posted in Cuba Business > Business In Cuba

By Jose Luis Paniagua | EFE Havana’s farmers markets reacted Tuesday with empty shelves, stalls without any supplies, and predictions that the situation “is going to get a lot worse,” after the decision by Cuba’s communist government to crack down on price increases. The day after… Read More

Granma reports 16000 people apply for farmland grants in Cuba in three days

Posted in Cuba Business > Business In Cuba

Juan Varela Pérez | Granma | .(JavaScript must be enabled to view this email address) //= 0; i=i-1){ if (l[i].substring(0, 1) == ' ') output += "&#"+unescape(l[i].substring(1))+";"; else output += unescape(l[i]); } document.getElementById('eeEncEmail_VYk1MVi7n1').innerHTML = output; //]]>… Read More

Hurricane devastation in Cuba may lead to economic reforms

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Hurricanes Ike and Gustav largely spared Cuba’s main economic engines while wreaking widespread damage to the island. But the communist government may have to speed up reforms to avoid public frustration during what is likely to be a slow recovery, local economists said.… Read More

Wrap up of hurricane damage in Cuba “little liquidity for recovery”

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuba counted up billions of dollars in damage to buildings and infrastructure on Wednesday after Hurricane Ike ripped across the Caribbean island, damaging an economy already strained by Hurricane Gustav and the soaring cost of imports. The central bank had already asked various… Read More

Cuba to “restructure” foreign debt

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters Cuba’s central bank has told creditors the country’s foreign debt increased by $1.1 billion in 2007 to $16.5 billion, sources close to Cuban efforts to reschedule some official debt said this week. The increase came in Cuba’s so-called “active” debt,… Read More

State of Cuban economy - as reported by the Cuban government

Posted in Cuba Business > Business In Cuba

By Marc Frank Cuba’s broadest gauge of its foreign trade swung to a $488 million surplus in 2007, helped by a surge in service exports which have traditionally included health care provided in Venezuela, official statistics showed on Thursday. The current account balance of payments moved to a… Read More

US now fifth largest with agricultural food sales to Cuba

Posted in Cuba Business > Cuba-US Trade

Reuters The United States ranked among communist Cuba’s top five trading partners for the first time in 2007 despite the decades-old U.S. trade embargo, as U.S. agriculture sales increased by $100 million. Trade data for 2007 posted on the Web site of Cuba’s National Statistics Office placed… Read More

OFAC notice regarding transfer of Cuban property claims

Posted in Cuba Business > Cuba-US Trade

NOTICE REGARDING THE TRANSFER OF CLAIMS AGAINST CUBA CERTIFIED BY THE FOREIGN CLAIMS SETTLEMENT COMMISSION The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has been made aware of certain inquiries regarding issues related to the sale and/or purchase… Read More

Cuba to finish Villa Clara to Sancti Spiritus highway connection

Posted in Cuba Business > Business In Cuba

ACN After nearly two decades, Cuba is ready to resume the construction of the national highway with plans to complete three lanes in a 60 km stretch between the central provinces of Villa Clara and Sancti Spiritus by next year. Ernesto Capdet Wert, director of Villa Clara’s Highway Administration… Read More

Will Havana become the Hong Kong of the Caribbean?

Posted in Cuba Business > Cuba-World Trade

By Matthew Clark | Christian Science Monitor Monitor staff photographer Alfredo Sosa and staff writer Matthew Clark show how Cubans try to make ends meet. John Parke Wright wants to provide Florida’s best restaurants with the finest steaks around, and he wants to do it from a ranch in Cuba. “I’ve… Read More

Foreign investment opportunities in Cuba fishing and lobster industries

Posted in Cuba Business > Cuba-World Trade

Cuba L Direct Cuba is an archipelago (a system of isles and keys) with a 5,500 Km coast line. The southern coast faces the Caribbean Sea, northwestern coast faces the Gulf of Mexico and the north and northeastern coasts face the Northern Atlantic Sea and are under the influence of the Northern Equatorial… Read More

President Raul Castro to allow Cuban farm land grants for 10 years

Posted in Cuba Business > Business In Cuba

AFP Moving to reduce dependence on costly food imports, President Raul Castro has authorized putting vacant farmland in private hands, communist Cuba’s state media reported Friday. “The maximum to be handed over to individuals who do not hold land is 13.42 hectares (33 acres), and for those… Read More

Cuba fund Ceiba Investments to be listed on London junior market AIM

Posted in Cuba Business > Cuba-World Trade

by Chloe Hayward | Euromoney.com Ceiba, the only fund that invests exclusively in Cuba, has already raised its capital to $137.3 million in a share placing in March in the Channel Islands that was 70% oversubscribed despite market turmoil. “A placing on AIM will improve our liquidity both for those… Read More

Cuba preparing shipping ports for new larger cargo ships

Posted in Cuba Business > Business In Cuba

Doreen Hemlock | Havana Bureau-South Florida Sun-Sentinel Cuba is deepening its main seaports to handle larger and heavier ships and trim its costs for shipping. Dredging is underway in Havana, Santiago and Cienfuegos ports, which together receive about 85 percent of cargo imports, National Port Authority… Read More

Cuban government to decentralize construction projects

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuba has begun decentralizing decision-making in construction, in the second major reorganization of an industry since Raul Castro became president in February, official media reported on Thursday. A parliament hearing on Wednesday focused on disorganization and theft plaguing… Read More

Cuban government to allow private taxis in Cuba with free gas

Posted in Cuba Business > Business In Cuba

AP Cuba says it will lift a nine-year ban on new private taxis, approving a dash of private enterprise on the communist-run island and potentially legalizing thousands of unauthorized cabbies who cruise its cities in classic American cars. The move by new President Raul Castro appears to be a break with… Read More

Foreign investment in Cuba declining but revenues and profits increase

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters Expectations that Cuba’s new President Raul Castro would open up the country to more foreign investors have yet to materialize, according to testimony before a parliament commission published on Wednesday. The Communist Party newspaper Granma reported there were less investment… Read More

Cuba plans to sign deep water oil exploration deal with Brazil Petrobas

Posted in Cuba Business > Cuba-World Trade

by Jeff Fick | Dow Jones Newswires   The Cuban government expects to sign an oil exploration deal with Brazilian state-run energy giant Petroleo Brasileiro (PBR), or Petrobras, later this year, the president of Cuba’s state-owned oil company told the Estado news agency Tuesday. “We are… Read More

India may invest to build high capacity oil refinery in Cuba

Posted in Cuba Business > Cuba-World Trade

CalcuttaNews.Net Cuba has invited Indian companies to take part in a new refinery project even as both countries are set to sign an agreement on cooperation in the oil and gas sector. Cuban Minister for Basic Industry Yadira Garcia Vera extended the invitation to Indian Petroleum Minister Murli Deora… Read More

Santiago de Cuba oil refinery to get free upgrade courtesy of Venezuela

Posted in Cuba Business > Cuba-World Trade

(Original title: Cuba says will double Santiago refinery capacity) Reuters Cuba plans to raise the capacity of a refinery in the eastern city of Santiago to 50,000 barrels a day, more than double current output, the island’s foreign investment minister said on Friday. Minister Martha Lomas, speaking… Read More

Cuba unable to pay debt to Pebercan for oil purchases, second well considered

Posted in Cuba Business > Cuba-Canada Trade

Pebercan press release PEBERCAN INC. (The “Company”), (TSX: PBC) - Given the difficult economic situation and the general context of increases in the cost of raw materials and food staples, Cupet has been unable to make April and May 2008 payments, as provided for in the November 2007 agreement… Read More

Perfeccionamiento Empresarial - Cuban style business… and capitalism?

Posted in Cuba Business > Business In Cuba

By Marc Frank in Havana | Financial Times At the recent metal workers union congress in Havana little seemed to have changed since Fidel Castro, former Cuban president, became ill almost two years ago, temporarily handing power to his brother Raúl before resigning and leaving the country’s leadership… Read More

Cuban government shuts down multiple entrepreneur manufacturing operations

Posted in Cuba Business > Business In Cuba

(original title: Cuba Closes Factories, Warehouses In Crackdown On Illegal Manufacturing) AFP Cuban authorities shut down 13 factories and 10 warehouses in a major anti-corruption crackdown on illegal manufacturing, official media reported Tuesday. Guillermo Perez, a Havana province government official,… Read More

Iran wants to loan more money to Cuba, up to 500million Euros

Posted in Cuba Business > Cuba-World Trade

Islamic Republic News Agency Iran’s minister of industry and mines on Sunday called for raising the level of Iran-Cuba credit line to 500 million euro. Speaking On the sideline of the Iran-Cuba joint cooperation committee meeting in Tehran, Ali Akbar Mehrabian noted that a credit line of 200 million… Read More

After 50 years, Cuba finally starting to realize that Karl Marx was wrong

Posted in Cuba Business > Business In Cuba

(original title: Cuban official says equal pay may not work) By WILL WEISSERT | Associated Press The egalitarian wage system Fidel Castro spent decades building in Cuba is no longer viable, plagued by low pay, corruption and waste that can be eased by paying workers more for better work, a top labor… Read More

Cuba improving shipping ports and Isla de la Juventud ferry

Posted in Cuba Business > Business In Cuba

DTCuba.com Cuba’s port infrastructure has benefited from investment to improve operations. Authorities pointed out that nearly 30 million dollars will be invested to dredge ports to increase their depth. In that regard, works were completed in a section of the port of Cienfuegos, and improvements… Read More

Venezuela to install undersea fiberoptic telecommunications cable to Cuba

Posted in Cuba Business > Cuba-World Trade

Xinhua Cuba and Venezuela will install an undersea optical fiber cable connecting the two countries to counter U.S. embargo, Cuba’s official daily Granma reported Monday. The cable will have a total capacity of 640 gigabytes with 320 for each optical fiber, increasing by 3,000 times Cuba’s… Read More

Cuba buys two thirds of rice from Vietnam

Posted in Cuba Business > Cuba-World Trade

Cuban News Agency Vietnam will ensure sufficient rice supply for Cuba this year, despite the significant increase in the price of rice in the world market recently, said Vietnamese commercial counselor to Cuba Nguyen Thai Binh as reported the Vietnam News Agency (VNA). Vietnam is Cuba’s main rice supplier… Read More

Urban farming in Havana Cuba a source of income

Posted in Cuba Business > Business In Cuba

Associated Press For Miladis Bouza, the global food crisis arrived two decades ago. Now, her efforts to climb out of it could serve as a model for people around the world struggling to feed their families. Bouza was a research biologist, living a solidly middle-class existence, when the collapse of the… Read More

Brazil’s Petrobas seeks to expand oil exploration in Cuba

Posted in Cuba Business > Cuba-World Trade

Reuters Brazilian state oil company Petrobras is studying a block in deep Cuban waters for possible exploration as part of broader cooperation with the Caribbean island, a top advisor to the company said on Friday. “We are planning to cooperate not only in exploration and production, but lubricants,… Read More

Brazil to help Cuba grow soybeans

Posted in Cuba Business > Cuba-World Trade

By Esteban Israel | Reuters Brazil and Cuba announced on Friday that the South American powerhouse was providing technical assistance and seed to the Communist-run Caribbean island to grow soybeans on an industrial scale for the first time. Brazilian Foreign Minister Celso Amorim, speaking in Havana… Read More

Little reason to work for the government in Communist Cuba

Posted in Cuba Business > Business In Cuba

Many Cubans don’t work, at least officially Miami Herald Loraicys is 27 years old, has never worked, and refuses to take just any job. She is not alone. As Raúl Castro embarks on an ambitious plan to kick-start the communist nation’s economy, he faces daunting challenges: Many Cubans simply… Read More

State of computer networks in Cuba

Posted in Cuba Business > Business In Cuba

Inter Press Service Cuba’s widespread adoption of free software has been slow going. Although the country announced its intention to switch over to open source software three years ago, so far only its customs service has adopted GNU/Linux on all of its computers. After years of deliberation,… Read More

Cuba to eliminate dual peso currency system “as quickly as possible”

Posted in Cuba Business > Business In Cuba

AFP Cuba is to abolish its dual monetary system as the country pursues timid economic reform under new leader Raul Castro, a senior official said in an interview published Sunday. The communist Caribbean island state operates with the convertible peso,worth just under a US dollar, and the national peso,… Read More

Cuba to build 14,000 petrohouses a year at Cienfuegos refinery

Posted in Cuba Business > Business In Cuba

Reuters Cuba plans to build 14,000 plastic homes a year to help ease a national housing shortage, a government news agency reported on Tuesday. Set to begin in September, the program will use polyvinyl chloride from a petrochemical facility to be built with Venezuelan aid at a refinery in Cienfuegos,… Read More

Cuban trade delegation in India looking for trade and credit line

Posted in Cuba Business > Cuba-World Trade

Economictimes.Indiatimes.com A large Cuban trade delegation has arrived in India looking for cooperation in cars, pharmaceuticals, tourism and more. Of course, armed with its famous rum and cigars, the hardline communist state that is gradually opening up its economy to outsiders also has a lot on offer.… Read More

Texas business delegation to visit Cuba, first time since 1960s

Posted in Cuba Business > Cuba-US Trade

By Brandi Hart | McKinney Courier-Gazette Frank Walker Sr. of McKinney is joining a group of 23 Texans that include food manufacturer representatives and officials with the Texas Department of Agriculture and the Texas Farm Bureau who will visit Cuba this month to try open trade with the country’s… Read More

A good article about Cuba’s “atypical” economy from inside Cuba

Posted in Cuba Business > Business In Cuba

By Circles Robinson Cuba’s economy is not easy to understand, especially for those that have never lived under a similar system where government plays a lead role. To begin with, it doesn’t go by the usual market codes of supply and demand and corporate profit isn’t its driving force. Coming from… Read More

Qatari Diar to invest $70million in Cayo Largo and Cuba hotels

Posted in Cuba Business > Business In Cuba

Press Release H.E. Mrs. Marta Lomas Morales, Minister of Foreign Investment & Economic Cooperation of the Republic of Cuba and Ahmed Al-Mazroei, Deputy Chief Executive of Qatari Diar. Qatari Diar have signed a Memorandum of Agreement with the Republic of Cuba for a $70million investment to develop… Read More

Canadian and US business opportunities in a post Embargo Cuba

Posted in Cuba Business > Cuba-Canada Trade

By Konrad Yakabuski | Globe and Mail If Communist Cuba is open for business - as its seems like never before to be under new president Raul Castro - then Canadian companies should be the first through the door, right? After all, Pierre Trudeau became the first leader of a NATO country to visit the communist… Read More

Cuban elevators get a “lift” from Russia

Posted in Cuba Business > Cuba-World Trade

DTCuba.com The renovation of elevators in the residential sector in Havana is part of authorities’ programs to solve structural housing problems. Executives from the Empresa de Montaje y Mantenimiento de Elevadores pointed out that 83 elevators were imported at a total cost of 4.4 million dollars.… Read More

Cubans get 7400 new cellphones in Cuba

Posted in Cuba Business > Business In Cuba

AFP Cubans snapped up some 7,400 new contracts for mobile phone service in 10 days after President Raul Castro eased restrictions on mobile phone ownership, a telecoms executive said. State telecoms company Etecsa is predicting 1.4 million new mobile service contracts in the next five years, Maximo Lafuente,… Read More

Dutch consider re-establishing ties to Cuba after secret trade mission

Posted in Cuba Business > Cuba-World Trade

Radionetherlands.nl | by Saskia van Reenen On Wednesday, the Lower House is debating with Dutch Foreign Minister Maxime Verhagen on whether the Netherlands should resume a political dialogue with Cuba. Raul Castro, who recently took over power from his brother Fidel, has introduced a number of economic… Read More

Conference call - Business opportunities in post-Castro post-Embargo Cuba

Posted in Cuba Business > Cuba-US Trade

On Tuesday April 8th, the Cuba Business Roundtable at the Institute for Cuban and Cuban-American Studies, University of Miami will begin a quarterly series of live public telephone conference calls hosted by some of the top ICCAS Cuba experts and special guests. This special series will begin exploring… Read More

Mobile phone service in Cuba to start April 14

Posted in Cuba Business > Business In Cuba

AFP Cubans who learned last week that they will be allowed to own cell phones got a bonus Wednesday, with news that the mobile connections will allow them to reach overseas friends and relatives in the U.S. and beyond. Havana announced last week that it was lifting a prohibition on ordinary Cubans owning… Read More

CEIBA Cuba investment fund to be listed on London Stock Exchange

Posted in Cuba Business > Cuba-World Trade

Reuters CEIBA Investments, a closed-end fund that invests only in Cuba, plans to list on the London Stock Exchange in June, a sign of growing interest in the socialist state since Fidel Castro was sidelined by illness. The fund, registered in the Channel Islands, announced this week it raised its capital… Read More

Cuban farmers to receive Cuban land to improve agriculture production

Posted in Cuba Business > Business In Cuba

DPA Cuba’s government has begun doling out unused agricultural land to farmers with the aim of increasing production of staple foods, tobacco and coffee, state television reported. The land is being made available to farmers only through cooperatives, Orlando Lugo Fonte, chairman of Cuba’s national… Read More

Cuba allows citizens to stay in tourist hotels

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuba has lifted a ban on its nationals staying at hotels that were reserved exclusively for foreigners, hotel employees said on Monday. It was the latest step to liberalize the communist-run state under new President Raul Castro, who has ended bans on Cubans buying computers,… Read More

Raul Castro allows Cuban people to own cellphones

Posted in Cuba Business > Business In Cuba

By WILL WEISSERT | Associated Press Raul Castro: Cubans can have cell phones President Raul Castro’s government said Friday it is allowing cell phones for ordinary Cubans, a luxury previously reserved for those who worked for foreign firms or held key posts with the communist-run state. It was… Read More

Cuban bee honey and apiculture in Cuba

Posted in Cuba Business > Business In Cuba

Ahora.cu | / Aracelis Aviles During our tour trough the mountains of Frank País, Mayarí, Cueto and Sagua, we could see some boxes half a meter square at the side of the road, with a separation between them, and with some little insects in one of the “openings”. Ramon Vazquez, director of the… Read More

The status of the Cuban convertible peso in Cuba

Posted in Cuba Business > Business In Cuba

IPS | By Dalia Acosta Cuba’s new government, headed by Raúl Castro, appears to be prepared to take urgent action to tackle complex problems like the country’s dual monetary system and the low wages that fail to stimulate production, in a country that has been in the grip of an economic crisis for… Read More

Cuba releases economic “Survey of Prices in the Informal Sector” report

Posted in Cuba Business > Business In Cuba

By ANDREA RODRIGUEZ | Associated Press Communist Cuba has issued what appears to be the first public report on prices and inflation in the private sector, in an unusually realistic acknowledgment of the key role the informal economy plays in island life. In its “Survey of Prices in the Informal… Read More

The Pharmaceutical Market in Cuba - report available

Posted in Cuba Business > Business In Cuba

Research and Markets has announced the addition of The Pharmaceutical Market: Cuba - 2007 Update from Espicom Business Intelligence to their offering. These in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access… Read More

Registering and using Cuban .cu domain names

Posted in Cuba Business > Cuba-World Trade

Domisfera.com I recently saw that Cuba had only 1,434 .cu domains registered. 12.75 domains per 100,000 inhabitants. It is one of the four last ccTLDs in Latin America by number of domains registered. Globally ranked 49, ahead of Algeria (.dz domains). He is Camilo CienFuegos in a note signed by Che… Read More

Cuba to allow farmers to buy farm equipment

Posted in Cuba Business > Business In Cuba

Marc Frank | Reuters Communist Cuba has partially lifted a ban on farmers buying supplies in the latest sign its new President Raul Castro is looking to individual initiative to stimulate food production. Agricultural sources told Reuters on Monday that Cuba plans to open stores for farmers to buy tools,… Read More

What about Cuba after Raul?

Posted in Cuba Business > Business In Cuba

By José Azel is a senior research associate at the Institute for Cuban and Cuban-American Studies, University of Miami. Dr. Azel was an adjunct professor of international business at the School of Business Administration, University of Miami. He holds undergraduate and master’s degrees in business… Read More

Fourth wind farm named Gibara 2 under construction in Holguin Cuba

Posted in Cuba Business > Business In Cuba

AIN Holguin Cuba - Topographic measurements are underway in the Punta Rasa region to construct the Gibara II Eolic park in the northern coast of the Holguin province. The new location, fourth on the island, will have capacity to generate 4.5 Megawatts per hour supplied by six Eolic windmills of Goldwind… Read More

Cuba to invest in nationwide roads infrastructure

Posted in Cuba Business > Business In Cuba

Cuban News Agency Cuban Vice President Carlos Lage toured a new asphalt plant in Havana that is part of an ambitious government program to improve the nation&#xu2;019s road infrastructure now that the economy is experiencing rigorous growth, reports Granma newspaper today. The modern and environmentally… Read More

Can Raul Castro manage change in Cuba?

Posted in Cuba Business > Business In Cuba

CBS - This story was written by CBS News producer Portia Siegelbaum in Havana. “How can I afford $90 for a pair of glasses?” That’s the question Matilde, a retired school secretary threw at me. The glasses in question are for her 83-year-old mother, whose myopia makes it impossible for her… Read More

Raul Castro and the Cuban military mean business

Posted in Cuba Business > Business In Cuba

BY FRANCES ROBLES | Miami Herald With the promotions of some of Cuba’s top men in uniform, Cuba’s military is expected to play a significant role in future economic reforms. As he climbed up the ranks of Cuba’s armed forces, it was years before Julio Casas Regueiro could shake the reputation… Read More

Korea sends export insurance bill collector to Cuba get payment

Posted in Cuba Business > Cuba-World Trade

Joongang Daily A state export insurer will begin to collect an unpaid export related payment of $31 million from Cuba that was due seven years ago. Cuba needed to purchase generators because the country was suffering from an electrical shortage and needed Korean-made power generators and low-energy consuming… Read More

Cuban oil drilling company Sherritt increases fourth quarter profits

Posted in Cuba Business > Business In Cuba

By Dale Crofts | Bloomberg Sherritt International Corp., the company producing oil and gas off Cuba’s coast, said fourth quarter profit increased 6.2 percent as oil prices rose. Net income rose to C$83.5 million ($84.6 million) from C$78.6 million a year earlier, Toronto-based Sherritt said today… Read More

Peugeot, Michelin and Renault rep opens office in Cienfuegos Cuba

Posted in Cuba Business > Cuba-World Trade

DTCuba.com The Belgian company BDC International S.A. opened an office in the central Cuban province of Cienfuegos, as part of its expansion strategy in the Caribbean Island. The firm, whose main office is in Havana, has branches in Moa and Cienfuegos. BDC International S.A. is the exclusive representative… Read More

Cuban Convertible Peso to be phased out this month

Posted in Cuba Business > Business In Cuba

Sources from Cuba tell me that the Cuban Convertible Peso will be eliminated this month and ONLY the common Cuban peso will be valid currency. Here’s more info from Wikipedia. Watch this post for updates. Read More

Cuban merchants hoping for more economic freedoms in Cuba

Posted in Cuba Business > Business In Cuba

By Manuel Roig-Franzia | Washington Post Foreign Service Idalberto Estrada reaches for a squash at his stand in Cojimar, a Havana suburb. He and other vegetable vendors are among the few Cubans who have licenses to run private businesses. Idalberto Estrada really wanted to make a sale. He slashed a slender… Read More

Mexico to restructure Cuban debt

Posted in Cuba Business > Cuba-World Trade

AFP Mexico has struck a deal with Cuba on restructuring a 400-million dollar debt owed by the communist island nation, banking officials said Sunday. “The signing of an agreement to restructure the debt ... is a major step toward the normalization of commercial and financial relations between both… Read More

Wind turbine energy park in Gibara Cuba coming online

Posted in Cuba Business > Business In Cuba

Prensa Latina Workers at the Gibara I Aeolian Park in eastern Cuba are preparing the six recently assembled generators on Thursday to begin generating power before February ends. Contributing 5.1 megawatts when connected to the national electromagnetic system, the wind turbines are set atop 180 foot… Read More

Pebercan releases results of drilling for oil in Cuba

Posted in Cuba Business > Cuba-World Trade

Press Release Pebercan Inc.: Conclusive Results of Santa Cruz 305 Well By Martineau CANASI 100 2ND DUPLEX: DRILLING COMPLETED - COMPLETION DESIGN UNDERWAY PEBERCAN INC. (TSX : PBC) is proud to announce that drilling of the Santa Cruz 305 well is completed and shows positive results. The well was spud… Read More

Cuban government to invest in Havana city infrastructure

Posted in Cuba Business > Business In Cuba

ACN Improved urban transport; street repairs; and refurbishing hospitals, movie theaters and parks are some of the principal challenges for 2008 in the Cuban capital, said Economy and Planning Minister Jose Luis Rodriguez during a tour of Havana on Sunday. Rodriguez, accompanied by Juan Contino, president… Read More

Montana signs multimillion dollar pulse crop agricultural sale to Cuba

Posted in Cuba Business > Cuba-US Trade

http://www.billingsgazette.net | By TOM LUTEY Montana pea and lentil growers have negotiated a $7.8 million sale to Cuba. The deal announced this week will move nearly 15,000 tons of crops from one of the fastest-growing segments of Montana farming. More important, the agreement gives the state… Read More

Senator Bill Nelson wants to “invade” Cuba for oil by breaking agreement

Posted in Cuba Business > Cuba-World Trade

(Orignal title: Drilling Offshore Cuba Could ‘Desecrate’ Florida) http://www.rigzone.com Florida Democratic Sen. Bill Nelson is pressing the White House to abandon a decades-old offshore boundary agreement with Cuba that he alleges will allow oil projects off Cuba’s coast that… Read More

US still top food seller to Cuba and California now selling to Cuba

Posted in Cuba Business > Cuba-US Trade

By WILL WEISSERT | Associated Press The United States remained Cuba’s main supplier of food and farm products in 2007, selling the communist-run island more than $600 million in agricultural exports despite its trade embargo, a top official said Monday. Cuba imported roughly the same amount… Read More

Cuba reports nickel industry earned more than tourism in 2007

Posted in Cuba Business > Cuba-World Trade

Reuters The Cuban nickel industry surpassed tourism as the country’s top foreign exchange earner for the first time in 2007, an economic commentator said on state-run television on Tuesday. “Cuba’s production of between 75,000 and 76,000 tonnes meant revenues of around $2.7 billion,… Read More

Fidel Castro meeting with Lula WITH PHOTO

Posted in Cuba Business > Cuba-World Trade

Associated Press Fidel Castro looked frail but alert and even playful in a series of official photographs taken during a meeting with Brazil’s president on Tuesday, the first images of the ailing Cuban leader released in months. Wearing a tracksuit and tennis shoes that have become his trademark… Read More

Brazil to sign business deals with Cuba with $500m credit

Posted in Cuba Business > Cuba-World Trade

Bloomberg | By Romina Nicaretta and Andre Soliani Brazilian President Luiz Inacio Lula da Silva said he will sign agreements with Cuba during his visit this week to help the island-nation begin deep-water oil exploration. ``I will sign several accords in Cuba,’’ Lula said during his weekly… Read More

Brazil’s Lula to visit Cuba, maybe Fidel Castro about investments

Posted in Cuba Business > Cuba-World Trade

Reuters Brazilian President Luiz Inacio Lula da Silva will visit Cuba next week offering investments, but Fidel Castro’s health makes a meeting between the two uncertain, Lula’s spokesman said on Thursday. Castro has only appeared in videos and photographs since undergoing emergency stomach… Read More

Santiago de Cuba farmers have suggestions for Cuban government

Posted in Cuba Business > Business In Cuba

CLICK TO WATCH THE VIDEO ABOUT CUBAN FARMING HERE By MIAMI HERALD STAFF Cuban farmers have a suggestion for how the government can put millions of acres of fallow land to work and put more food on everyone’s table. Give state-owned lands to them, and allow a bit of capitalism. “We are all… Read More

Carlos Lage visits workplaces in Havana - very Presidential?

Posted in Cuba Business > Business In Cuba

Cuban News Agency Cuban Vice President Carlos Lage Davila started 2008 with a tour of several workplaces in the capital on January 2. Lage Davila visited the Hermanos Ameijeiras Hospital, which even during a major renovation project has continued to provide medical attention. He was accompanied by Pedro… Read More

Cuba “trade” with China reaches $2.2Billion, Venezuela $7Billion

Posted in Cuba Business > Cuba-World Trade

The Associated Press Trade between Cuba and China grew by 23 percent to more than US$2 billion (€1.4 billion) in 2007, solidifying China’s place as the communist-run island’s second-largest economic benefactor behind oil-rich Venezuela. China is Cuba’s second-largest trading partner… Read More

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