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Cuba continues tradition of not paying international debts

Posted in Cuba Business > Cuba-World Trade

Once again, Cuba has to renegotiate its debts. How can the Cuban government continue to bitch and moan about the US Embargo decade after decade when they have free trade WITH EVERY COUNTRY ON EARTH except the US? Decade after decade the Castro brothers lie about Cuban business practices and steal money… Read More

Cuba farming and agricultural reforms update

Posted in Cuba Business > Business In Cuba

By Helen Popper | Reuters Cuban farmer Saudiel Lazaro wears a broad smile under his wide-brimmed hat as he prepares two young oxen to plow fields newly leased as part of state agricultural reforms. Reducing the Communist-run island’s heavy dependence on imports of staples like milk, corn and rice… Read More

Cuba wastes 58% of pumped aqueduct water each year

Posted in Cuba Business > Business In Cuba

EFE Some 58 percent of the water pumped by Cuba’s aqueducts is lost due to the distribution network’s poor condition, Vice President Ramiro Valdes said in an address to the National Assembly. “Throwing water out costs us $500 million annually because we use electricity to pump it,” Valdes, who… Read More

Cuban government unable to meet housing demands in Cuba

Posted in Cuba Business > Business In Cuba

AP Cuba built about 20,000 homes in 2009, meeting barely 60 percent of its modest annual construction goal and further exacerbating a severe housing crunch, the official press said Thursday. A report prepared for Sunday’s session of parliament indicates that authorities missed by more than a third… Read More

Direct mail from US to Cuba information

Posted in Cuba Business > Cuba-US Trade

DEBRA MITCHELL | U.S. Postal Service On September 8, 2009, the U.S. Department of Commerce issued a Federal Register final rule revising existing restrictions on exports of gift parcels. It also authorized exports to Cuba of certain donated consumer communications devices, including certain computers… Read More

Fewer sugar mills in Cuba to operate this zafra season

Posted in Cuba Business > Business In Cuba

Marc Frank | Reuters The first of 44 Cuban sugar mills scheduled to grind during the 2009-2010 harvest opened on Thursday, official media reported, with final output by May forecast at 1.3 million to 1.4 million tonnes of raw sugar. “The Mario Munez mill began production today ... to reach full… Read More

Cuba and the Convertible Peso

Posted in Cuba Business > Business In Cuba

Cuba has more than one peso Cuba has always been known as one of the hottest travel destinations in the Caribbean. Before the 1959 revolution, Americans loved to visit Cuba. The island is filled with exotic beaches, fabulous hotels and casinos that never close. Since the revolution, Cuba has been subjected… Read More

New Artisan’s Market on Avenida del Puerto in Habana Vieja Cuba

Posted in Cuba Business > Business In Cuba

Havana Journal The traditional Artisan Market of the Cathedral Square has found a new venue in a recently refurbished Pier store, formerly the San José stores, a work done by the Office of the Historian in order to preserve and protect the Havana’s heritage and create a new place for the promotion… Read More

FIHAV 2009 - Havana International Trade Fair wrap up

Posted in Cuba Business > Cuba-World Trade

Rob Sequin | Havana Journal Photos by SRM This year’s 27th annual International Business Fair at ExpoCuba in Havana, better known as FIHAV, was held in early November and was covered by several news reporting agencies from inside and outside of Cuba. We also had our own correspondent covering the… Read More

Cuba’s financial problems getting worse

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuba has ordered all state enterprises to adopt “extreme measures” to cut energy usage through the end of the year in hopes of avoiding the dreaded blackouts that plagued the country following the 1991 collapse of its then-top ally, the Soviet Union. In documents seen… Read More

State of technology and communications in Cuba

Posted in Cuba Business > Business In Cuba

By SHEILA RILEY | FOR INVESTOR’S BUSINESS DAILY Cuba, land of beaches, salsa clubs, aging U.S. cars and .. . high-tech? The communist island nation can become a tech success story, says Mark Entwistle, Canada’s former ambassador to Cuba. With a population of just 11.4 million, Cuba already… Read More

Cuba to get oil from Caracas Accord, wants less dependence on Chavez

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters Cuba has chosen to pay a steeper price than it has to for Venezuelan oil so it can discourage itself from becoming too dependent on one source for energy, a senior Cuban official said on Friday. Deputy Foreign Minister Rogelio Siera Diaz said Cuba chose to get oil under the more… Read More

Pedro Freyre, Jay Brickman etc on US Cuba business realities and opportunities

Posted in Cuba Business > Cuba-US Trade

The world recession has caused more intense screening of business executives seeking Cuban visas and has slowed down decision-making on new business projects on the communist island,a U.S. maritime executive said Thursday. Speaking at the SeaCargo Americas conference in Miami, Jay Brickman, vice president… Read More

Russia to drill for oil in Gulf of Mexico off Cuba

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters Russian state oil company Zarubezhneft signed contracts with Cuba on Tuesday to search for oil along Cuba’s northern coast and said it was looking at procuring more areas for exploration in a step forward for the island’s oil hopes. Zarubezhneft signed up with state-owned… Read More

Cuba blocks Revolico classifieds site and Skype

Posted in Cuba Business > Business In Cuba

By Esteban Israel | Reuters A popular website of classified ads that has given Cubans a taste of the free market has been blocked on the communist-run island, Internet users said. Cubans trying to access Revolico.com, which says it has more than 1.5 million page views a month, are being diverted to the… Read More

Imports to Cuba and exports from Cuba decline sharply in 2008

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters Business between Cuba and four of its top five trading partners has declined sharply this year in a reflection of the communist-led Caribbean island’s deep economic crisis, trade reports from the countries said. Reductions in exports to and imports from Cuba ranged from… Read More

Cuba does not want US telecommunications companies to operate in Cuba

Posted in Cuba Business > Cuba-US Trade

By Nick Miroff | Global Post For years, U.S. mobile phone companies and internet providers have been banned from doing business with Cuba, further isolating one of the least-connected countries in the hemisphere. So when the Obama administration loosened those restrictions earlier this year, it looked… Read More

Cuba Business Development Group launched in preparation for better US Cuba ties

Posted in Cuba Business > Cuba-US Trade

Press Release Fuego Enterprises, Inc. (PinkSheets:FUGI - News) spun off on October 12, 2009 a newly incorporated shell company to shareholders of record as of September 12, 2009. Shareholders of record are to ultimately receive 1 share of the new company, Cuba Business Development Group, Inc. (“CBDG”),… Read More

China leader meets with Castros and will “loan” Cuba money to buy 10 cargo ships

Posted in Cuba Business > Cuba-World Trade

Latin American Herald Tribune Wu Bangguo, speaker of China’s National Assembly and second secretary of the country’s ruling Communist Party, concluded on Thursday a two-day visit to Cuba that included talks with President Raul Castro as well as with his predecessor and older brother, Fidel. Wu also… Read More

Cuba continues to block access to foreign business bank accounts

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters Many foreign suppliers and investors in Cuba are still unable to repatriate hundreds of millions of dollars from local accounts almost a year after Cuban authorities blocked them because of the financial crisis, foreign diplomats and businessmen said. The businessmen, who asked… Read More

US intellectual property rights in Cuba

Posted in Cuba Business > Cuba-US Trade

BY JUAN O. TAMAYO | ElNuevoHerald.com While the Cuban patents credit the individual inventors who worked on the developments, the rights to the patents are virtually always assigned to government entities. Patent 7,556,726 was assigned to the National Center for Scientific Investigations, an agency of… Read More

How to do business in Cuba

Posted in Cuba Business > Cuba-US Trade

BY MIAMI HERALD STAFF Across the street from the massive Karl Marx theater sits a beige-colored building that has become a critical stop for businesses preparing for the economic future of the Caribbean’s largest nation. The law office of Lex S.A.—a spinoff from the Chamber of Commerce of… Read More

Miami Havana ferry waiting for OFAC approval

Posted in Cuba Business > Cuba-US Trade

DAMIEN CAVE | Miami Herald Imagine a ferry from Miami to Havana that costs far less than a flight. Cuban-Americans, who can now visit the island without restriction, could eat lechón on deck, then deliver a shipping container of food to needy relatives by morning. Armando Ruiz, 72, a Cuban exile and… Read More

The business opportunity for US companies in Cuba telecommunications

Posted in Cuba Business > Cuba-US Trade

Reuters In measures originally announced in April and implemented last week, U.S. President Barack Obama has relaxed aspects of the U.S. trade embargo against Cuba to allow U.S. telecommunications companies to provide services to the communist-ruled island. But the U.S. companies face major hurdles,… Read More

China gives Cuba $600,000 in “loans”, credits and grants - with commentary

Posted in Cuba Business > Cuba-World Trade

(Article by AFP - comments added by Havana Journal Publisher) Wu Bangguo (R), President of the Parliament of the People’s Republic of China, and his Cuban counterpart Ricardo Alarcon pose after a wreath-laying ceremony at the Jose Marti monument in Havana. AFP PHOTO (Jose Marti died fighting against… Read More

Cuba considering easing central control of economy

Posted in Cuba Business > Business In Cuba

By Marc Frank in Havana | Financial Times The Cuban government is considering easing its stranglehold on the retail sector in an effort to legalize the underground economy and reduce massive theft. It is President Raul Castro’s second big economic reform after last year’s decentralization of agriculture… Read More

Sanofi-Aventis drug company opens office in Havana Cuba

Posted in Cuba Business > Cuba-World Trade

VITO ECHEVARRÍA | Cuba News In June, French pharmaceutical giant Sanofi-Aventis said it would establish an office in Havana — a vote of confidence for Cuba’s biotech industry by the largest drugmaker in Europe. Antoine Ortoli, Sanofi’s inter-continental vice-president, said his company hopes to… Read More

Grocery stores in Cuba closed for “inventory”

Posted in Cuba Business > Business In Cuba

AP Upscale grocery stores that were scheduled to close two days last week for inventory remained shuttered Monday — sparking rumors of food shortages because of the country’s dire economic situation. More than a dozen stores in Cuba’s capital that had been run by the now-defunct firm Cubalse… Read More

Cuba to cut spending but keep central control over economy

Posted in Cuba Business > Business In Cuba

By WILL WEISSERT | Associated Press Raul Castro announced Saturday that Cuba will cut spending on education and health care, potentially weakening the building blocks of its communist system in a bid to revive a foundering economy. The former defense minister who took over the presidency last year called… Read More

Cuba postpones Communist congress due to “very serious” economic crisis

Posted in Cuba Business > Business In Cuba

THE ASSOCIATED PRESS Cuba on Friday suspended plans for a Communist Party congress and lowered its 2009 economic growth projection to 1.7 percent — nearly a full percentage point — as the island’s economy struggles through a “very serious” crisis. In a closed-door meeting of the Communist Party… Read More

Cuba may allow for less state control of economy

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cash-strapped Cuba should consider putting more of its state-run economy in the hands of producers, as President Raul Castro has done with agriculture, the country’s top economic commentator said on Tuesday. Ariel Terrero, during his regular Tuesday appearance on state-run… Read More

Russia to “loan” more money to Cuba for “trade”

Posted in Cuba Business > Cuba-World Trade

UPI (Original title: Russia, Cuba negotiate $150M trade loan) Moscow says it will negotiate a $150 million loan with Cuba for the purchase of Russian construction and agricultural machinery. A resolution signed Monday by Prime Minister Vladimir Putin instructs the Russian Finance Ministry to talk with… Read More

Less phones per capita in Cuba now than in 1958

Posted in Cuba Business > Business In Cuba

Juan O. Tamayo | ICCAS Cuba’s cellular telephone service mushroomed in 2008, but the remainder of its telecommunications and information technology sectors were stagnant or even shrank, according to the most recent report from the Havana government.     The data released by the Office of… Read More

State of Cuban economy - not so good

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuba is cutting estimates of imports by billions of dollars this year and projecting a decline in export revenues due to the international financial crisis, according to a government report shown to Reuters this week. The Economy and Planning Ministry forecast was drawn up within… Read More

Cuba restricts foreign businesses from withdrawing funds from Cuban banks

Posted in Cuba Business > Cuba-World Trade

TheCubaBlog.com is reporting that two banks in Cuba have stopped foreign businesses from withdrawing or transfering funds. The banks noted are Banco Financiero Internacional and Banco Metropolitano. One Italian businessman said “they´ve blocked us sending transfers abroad and placed a 6 month window… Read More

Brazil to finance construction of shipping port Mariel in Cuba

Posted in Cuba Business > Cuba-World Trade

By Jeff Franks | Reuters Brazil said on Thursday it would give Cuba up to $300 million in credits to start rebuilding the island’s port of Mariel, better known as the site of a 1980 Cuban exodus to the United States. Brazilian Industry and Trade Minister Miguel Jorge said $110 million had been… Read More

Cuba postpones plans to drill for oil again

Posted in Cuba Business > Cuba-World Trade

Cuba and a consortium of foreign oil companies have again postponed plans to drill for oil in the island’s still-untapped oil fields in the Gulf of Mexico, diplomatic and industry sources said this week. Cuba had announced the consortium, led by Spain’s Repsol-YPF, would drill in June or… Read More

Cuba as a technology center? Maybe someday

Posted in Cuba Business > Cuba-World Trade

By Clive Thompson | Wired Magazine Back in the ‘80s, Ireland was one of the poorest countries in Western Europe, with unemployment as high as 17 percent. But the scrappy nation had one advantage: It always invested in education, so while the Irish were poor, they were smart. American tech companies… Read More

Economic situation in Cuba getting worse

Posted in Cuba Business > Business In Cuba

Marc Frank | Reuters Cuban factories are closing down and production is being cut at other workplaces as the international financial crisis weighs on the import-dependent Caribbean island, the official media said on Sunday. A growing shortage of foreign exchange has forced the Communist-run country to… Read More

Cuba struggling to pay off debts… again. Bond interest rates at 9%

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters (bold below by me for emphasis) Cuba has rolled over 200 million euros in bond issues that were due in May, as the country’s central bank asked for another year to repay foreign holders of the debt, financial sources in London and Havana said this week. The move is yet another… Read More

Head of Cuban banking Francisco Soberon resigns

Posted in Cuba Business > Business In Cuba

AP The head of Cuba’s central bank has resigned as President Raul Castro pushes ahead with a government reorganization amid signs of a cash crunch, state television reported Thursday. Francisco Soberon, 64, has been replaced by Ernesto Medina, who heads Banco Financiero Internacional, one of Cuba’s… Read More

Miami prepares for post-Embargo Cuba business opportunities and problems

Posted in Cuba Business > Cuba-US Trade

By Pascal Fletcher | Reuters Miami’s business will gain if the United States unilaterally lifts its trade embargo on Cuba, but the city could face “unfair” competition from state-subsidized Cuban cigar, citrus and rum exports, its main trade body said. This is one finding of a new report… Read More

Major cutbacks in electricity ordered in Cuba, GDP revised to .5 percent

Posted in Cuba Business > Business In Cuba

EFE The Cuban government will cut power supplies to companies and organizations that do not observe the “exceptional measures” set to take effect Monday to save fuel and relieve the deteriorating economy of the communist-ruled island. Havana’s director of economy and planning, Jorge Luis Villa,… Read More

Cimex President admits that Cuba is having trouble paying it’s bills

Posted in Cuba Business > Business In Cuba

(Publisher note: See my comments in bold below) By Jeff Franks | Reuters A cash crunch is causing one of Cuba’s largest business corporations, Cimex, to put off payments for some products, but the bills eventually will be settled, the head of the state-owned company said on Thursday. Eventually?… Read More

Senate Bill to allow export of US agricultural and medical sales to Cuba

Posted in Cuba Business > Cuba-US Trade

William Gibson | Sun Sentinel A powerful coalition of 16 senators today introduced a bill to lift the ban on travel to Cuba and ease the sale of food and medicine to the island. The bill was introduced on Cuban Independence Day. It reflects growing pressure from farm states to weaken the 47-year embargo… Read More

Azerbaijan to drill for oil in Cuba

Posted in Cuba Business > Cuba-World Trade

RIA Novosti Azerbaijan plans to participate in developing oil fields in Cuba in line with a draft cooperation agreement, Azerbaijani Minister of Culture and Tourism Abulfaz Garayev said on Tuesday. The agreement was approved at a meeting of the Azerbaijani-Cuban intergovernmental commission in Baku on… Read More

Cuban economy flat to contracting in 2009 with opinion

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal This article below, although well written, deserves much criticism due to the fact that Cuba does not adhere to international accounting practices so their “growth” projections are always very subjective. Of course since there is no independent media in Cuba and… Read More

Port of Santiago de Cuba dredged to increase cargo shipments to Cuba

Posted in Cuba Business > Business In Cuba

ACN With the removal of some 8,000 cubic meters of sediments and the extension of the access for bigger ships, the dredging of the eastern Santiago de Cuba bay advances satisfactorily. Ramon Suarez, technical vice-president of the Ports Authority in this city, explained the works underway at the 4th… Read More

Santiago de Cuba rum, Ron Santiago, to be sold in Spain

Posted in Cuba Business > Cuba-World Trade

ACN A Cuban rum, Ron Santiago, well-known in its own country for its unique flavor and quality, starts in June a quest to conquer the Spanish market. Fulfilling the agreement between the Cuba Ron SA Corporation and Valencia the Ikxur Company SL, the first shipment for promotional purposes will be flown… Read More

Selling more than just agricultural products to Cuba

Posted in Cuba Business > Cuba-US Trade

AP Jugs of daiquiri mix. Gourmet nuts. Rolls of newsprint. Not exactly humanitarian aid, but still among the items sold to Cuba under an agricultural waiver carved out of the decades-old U.S. trade embargo. American businesses are raking in more than $700 million a year selling these and other products… Read More

Qatari Diar announces second hotel project for Cuba - Prado y Malecon

Posted in Cuba Business > Cuba-World Trade

Rob Sequin | Havana Journal Qatari Diar press release In addition to the recent announcement of the Gran Paraiso hotel to be built on Cayo Largo del Sur by the Qatari Diar Investment Company, a second Joint Venture agreement between Qatari Diar and Habaguanex, a Cuban hotel company based in Old Havana… Read More

Mobile Alabama ready re-establish centuries old Cuba commerce relationship

Posted in Cuba Business > Cuba-US Trade

By Richard Fausset | LA Times The barges bound for Cuba already glide down the Mobile River from time to time, past James K. Lyons’ office and south to the Gulf of Mexico. These days, Lyons, the director of the Alabama State Port Authority, dreams of when the Cuban trade embargo will be fully dismantled.… Read More

Tampa Bay businesses will meet to discuss plans for post-Embargo Cuba

Posted in Cuba Business > Cuba-US Trade

By TED JACKOVICS | The Tampa Tribune Trade issues with Cuba, particularly if the U.S. trade embargo is lifted, will be the focus of a May 29 panel discussion in Tampa among the director of the Port of Tampa and academicians from the University of Florida and Tulane University. The Tampa Bay World Affairs… Read More

States preparing for post-Embargo trade with Cuba

Posted in Cuba Business > Cuba-US Trade

By Fredrick Kunkle | Washington Post Staff Writer Virginia and Maryland trade officials, sensing winds of change in the tempestuous relationship between the United States and Cuba, are hustling to build markets for their goods in the event two countries normalize relations further. Virginia agriculture… Read More

Cuba to build fourth nickel processing plant in Las Camariocas Holguin

Posted in Cuba Business > Business In Cuba

Reuters Cuba will proceed with plans to build a ferronickel plant with its ally Venezuela, even though a dramatic drop in international prices has drained the island’s foreign income, a government official said on Monday. The communist-run island is one the world’s biggest producers of nickel… Read More

Diplomats and businessmen say Cuba may be nearly bankrupt

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters A cash crunch that began last year for Cuba appears to be getting worse as state-run banks insist they have little foreign currency for international money transfers or for significant withdrawals, western diplomats and businessmen said this week. They said they feared the communist-led… Read More

Panel discussion - US re-engagement with Cuba and what it means for Canada

Posted in Cuba Business > Cuba-Canada Trade

Luncheon panel discussion hosted by Canadian Council for the Americas and the Canadian International Council Sponsored by Sherritt How soon till we get there? US re-engagement with Cuba and what it means for Canada Date: May 6th, 2009 Time: 11:45 a.m. - 1:30 p.m. Place: The University Club of Toronto… Read More

CubaWeb.cu CubaTravel.cu and several other popular Cuban websites down

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal We have discovered that a number of popular Cuban websites are down or showing errors. The sites have been affected for a couple days now according to cache dates so one would be led to believe that the hosting service is having major problems. The following Cuban websites… Read More

Cuba telecommunications calling US citizens?

Posted in Cuba Business > Cuba-US Trade

By Latin Business Chronicle staff President Barack Obama’s liberalization of restrictions on U.S. telecom services in Cuba won’t lead to any surge in business any time soon, although the Caribbean island has big potential with the right policies in place, experts say. “Everybody is… Read More

Cuba domain name speculators rush to invest in Cuba

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal Dozens of domain name speculators rushed to register hundreds of Cuba related domain names on April 13 and the day after President Obama announced sweeping changes to US Cuba policy as a way to “invest” (speculate really) in the business opportunities that may… Read More

Cuba business opportunities under a new US Cuba policy

Posted in Cuba Business > Cuba-US Trade

By Euan Rocha and Deepa Seetharaman | Reuters Investors in companies with Cuban assets, or the potential to expand into the country, cheered on Monday after the White House said it would ease some of the restrictions it has imposed on the Communist-run island. Shares of one of the island’s large… Read More

Cuba reports almost $12 billion trade deficit - imports way way

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters Cuba continues to run a huge trade deficit and the country’s 2008 performance was worse than previously reported, the official Granma newspaper said Friday, quoting Foreign Trade Minister Rodrigo Malmierca. “We are calling upon our companies to radically change their… Read More

Cuba signs trade agreement with Panama

Posted in Cuba Business > Cuba-World Trade

Luis Sierra | The Panama Post Cuba buys Panamanian textiles, footwear, and home appliances, while Panama imports clinker (an intermediate form of cement) and steel bars, among other products. On March 16, the governments of Panama and Cuba signed a partial trade agreement in Havana, after completing… Read More

President of Trinidad offers open invitation to Raul Castro to visit Trinidad

Posted in Cuba Business > Cuba-World Trade

Rob Sequin | Havana Journal Cuban state run newspaper, Granma is reporting that President Raúl Castro and Prime Minister Patrick Manning of Trinidad and Tobago met on Sunday, March 29 to discuss a variety of issues including reaffirmation of expanding bilateral ties. There was talk of regional and global… Read More

Tampa Florida to benefit from US Cuba trade

Posted in Cuba Business > Cuba-US Trade

By David Adams | TampaBay.com Back in the days before the Kennedy administration slapped an economic embargo on Cuba, Tampa shipping agent A.R. Savage & Son was at the forefront of a lucrative trade with the island. The Tampa area was a major supplier of cattle, and ships brought tobacco for the… Read More

Cuban government moves to decentralize economy from Central Bank control

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuban President Raul Castro has loosened controls on how state companies spend foreign currency in the first sign a recent cabinet shake-up heralds changes in the running of the economy, businessmen and economists said. The Cuban and foreign sources said authorities have ended… Read More

Republican introduces Bill to ease agricultural food sales to Cuba restrictions

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal Republican Congressman Jerry Moran from Kansas introduced a Bill (HR 1737) in the House of Representatives yesterday with the title Agricultural Export Facilitation Act of 2009. It is designed to facilitate the sale of United States agricultural products to Cuba, as authorized… Read More

HavanaJournal.com now in 7th year publishing Cuba news

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal Just over six years ago on March 3, 2003 we launched HavanaJournal.com by publishing four articles: So who’s putting food on Cuba’s table? U.S.A. in our Business section Havana Fashion Show Honors Cuban Cigar in our Culture section February Cuba Policy Update in our Politics… Read More

Gibara Holguin Cuba wind farm update

Posted in Cuba Business > Business In Cuba

By Ania Fernandez | Ahora.cu “That the Gibara I Wind Farm was still standing after the passing of the devastating Hurricane Ike through the province, is an example of good construction. It is a very complex building work that represents quality and prestige for the country”, said Manuel Menendez,… Read More

Pro-business Cuba Trade Expo wraps in Miami

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal The pro-Cuba business Cuba Trade Expo was held at the Intercontinental Hotel in Miami on Friday where attendees learned about various US Cuba business related topics such as US Cuba relations, business in Cuba today, tourism, agriculture, energy, real estate, investing in… Read More

Cuba to consider reducing nickel mining and production

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters Cuba may soon join a growing list of countries shutting down nickel plants in the face of slumping prices, sources close to the industry said this week, in the latest indication the international economic crisis has begun to bite. Unrefined nickel and cobalt production at two… Read More

US businesses registering trademarks in Cuba

Posted in Cuba Business > Cuba-US Trade

By Esteban Israel | Reuters The opening of a McDonald’s in Communist Cuba seems unlikely any time soon, even with U.S. President Barack Obama in the White House and the prospect of better U.S.-Cuba relations on the horizon. But the fast food giant is one of many U.S. companies that have an estimated… Read More

Exploration and drilling for oil in Cuba - Is anyone making money?

Posted in Cuba Business > Business In Cuba

By Will Weissert | Associated Press It has been four years since U.S. experts said the island may sit atop nearly 10 billion barrels of deep-sea oil, revealing for Cuba an enormous economic Catch-22. Cuba needs the technical expertise of major western oil companies to get to any of the unexploited crude.… Read More

Tampa Port Authority cautious on US Cuba shipping

Posted in Cuba Business > Cuba-US Trade

By TED JACKOVICS | Tampa Tribune Tampa Port Authority commissioners on Thursday postponed a seemingly inevitable showdown on aggressively marketing Cuban trade after one of them volunteered to “go to Cuba tomorrow” while calling U.S.-Cuba policy “insane.” Commissioner Carl Lindell,… Read More

Update on cell phone use in Cuba

Posted in Cuba Business > Business In Cuba

Reuters Mobile telephone use will remain limited and costly in Communist-run Cuba for the foreseeable future due to the need to subsidize their social use and ensure communications with isolated areas, a state-run newspaper said on Sunday. The Juventud Rebelde (Young Rebel) newspaper quoted phone company… Read More

Cuba to grant 1.3million acres to first time and Cuban family farms

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuba has approved 45,500 land grants in the largest land redistribution since the 1960s, the Communist party Granma newspaper reported on Monday, as the country turns to the private sector to increase food production. “Deputy Agriculture Minister Alcides Lopez explained… Read More

Cuba gets $354million in “aid pledges” from Russia

Posted in Cuba Business > Cuba-World Trade

By Michael Stott and Gleb Bryanski | Reuters) Cuban President Raul Castro hailed the “very positive” results of his visit to Moscow, the first by a Cuban leader since the Cold War, after winning aid pledges of $354 million. “I think we are leaving very satisfied,” Castro, 77,… Read More

Port of Corpus Christi ships beans to port of Santiago de Cuba

Posted in Cuba Business > Cuba-US Trade

Fanny S. Chirinos | TheCaller.com About 5,000 tons of pinto beans will leave the Port of Corpus Christi this evening and arrive in the Port of Santiago de Cuba by Saturday evening. The shipment is the first to head for Cuba this year. Corpus Christi-based WestStar Foods began loading the sacks of beans… Read More

Carbonera Club begins marketing phase of new resort in Cuba

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal Based on an email we received: Cuban Golf Resorts will be the joint venture of UK based Esencia Hotels & Resorts Ltd and Palmares S.A., a Cuban organization supervised by the Ministry of Tourism. The Carbonera Club will feature an award-winning team of Championship golf… Read More

Cuban government prematurely terminates Pebercan oil production contract

Posted in Cuba Business > Cuba-Canada Trade

PEBERCAN INC. (The “Company”), (TSX: PBC) Pebercan announces that Cuban authorities, through Cubapetroleo S.A. («Cupet»), have notified its subsidiary Peberco Limited that Cupet wishes to prematurely terminate the production sharing contract, entered into in 1993 and scheduled to expire… Read More

Cuba Stock Index, Cuba Select ranking report and Havana Journal business

Posted in Cuba Business > Cuba-US Trade

Here are a few developments regarding Havana Journal Inc business for those readers interested in Havana Journal Inc operations and Cuba business in general. We believe that President Obama will move quickly to ease travel and remittance restrictions on Cuban Americans and will also move quickly to close… Read More

Export of Cuba services generate $9billion in 2008 but numbers are suspect

Posted in Cuba Business > Business In Cuba

(Original title: Cuba says exports of services tops $9 billion) By Marc Frank | Reuters Cuban exports of services grew by 6.2 percent in 2008, topping the $9 billion mark for the first time and consolidating their position as Cuba’s most important source of foreign exchange, the government said… Read More

The future potential of real estate in Havana and Cuba

Posted in Cuba Business > Business In Cuba

Yemisrach Kifle | NuWireInvestor.com While Cuba still remains off-limits to Americans, there is a heated debate on whether or not Obama’s administration should scrap the half-century old embargo on the island nation. After all, Fidel Castro no longer holds the reigns of power and his brother Raul… Read More

National Statistics Office in Cuba releases more business and economic data

Posted in Cuba Business > Business In Cuba

By Marc Frank in Havana Communist Cuba is slowly lifting the veil of secrecy surrounding its people and economy as demands from a more educated public, the information age and the need to manage better its affairs erode concerns about US snooping and the secretive instincts of bureaucrats. Just a few… Read More

Update on Cuba Nickel industry

Posted in Cuba Business > Cuba-World Trade

Reuters The Cuban nickel industry garnered $552 million net profit on 70,400 tonnes of unrefined nickel and cobalt in 2008, local media reported Monday, citing the Basic Industry Ministry. “The Cuban nickel industry gained economic leadership over the tourism industry in 2008, producing 70,400… Read More

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