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Western Union updates Cuba money transfer service

Posted in Cuba Business > Cuba-US Trade

From Western Union press release Western Union announced the launch of an electronic Affidavit that will now enable consumers, who meet specific government requirements, to easily send money to family members and friends in Cuba from most participating Western Union agent locations in the United States.… Read More

Havana yellow pages coming in 2012 with private Cuba business ads

Posted in Cuba Business > Business In Cuba

By Jack Kimball of Reuters Cuba will allow private advertisements in the state-run phone directory for the first time in half a century, state media reported on Thursday, in the latest move to a more open economy. President Raul Castro is pushing through a range of reforms in an attempt to strengthen… Read More

Cuba to offer credit and loans to small business

Posted in Cuba Business > Business In Cuba

Associated Press Cuba announced a new credit system that will offer loans to small-business owners, private farmers and other citizens beginning next month, and established rules for paying independent contractors who do business with the state. Credit will also be available to people looking to purchase… Read More

Brazilian home center to sell construction materials in Cuba

Posted in Cuba Business > Business In Cuba

Esteban Israel | Reuters Brazilian retail chain TendTudo, which sells home improvement products and construction materials, has taken the first steps into what it believes could be a $400 million a year market in communist Cuba. The company recently signed a contract to start supplying in the first half… Read More

Export Development Canada’s economic and political review of Cuba

Posted in Cuba Business > Cuba-World Trade

Excerpts from the Cuba update (pdf) from Canada’s Export Development Canada agency that offers financing, insurance and risk management solutions that assists Canadian exporters and investors expand their international business. The “capitalist” influence of foreign investment has been… Read More

New Cuba business models and registered domain names

Posted in Cuba Business > Cuba-World Trade

Rob Sequin | Havana Journal This may not be interesting to some readers of the Havana Journal but the registration of a domain name means that someone or some company has an idea or business model planned for their new domain name. Since I am a Cuba domain name buyer, broker and developer, I monitor… Read More

Cuba moves to regain financial credibility

Posted in Cuba Business > Cuba-World Trade

By Larry Moonze in Havana | PostZambia.com Cuba has informed businessmen attending the Havana International Trade Fair it has restructured its external debt and gradually regaining its international credit worthiness. Opening the 29th FIHAV attended by some 1,500 companies from 57 countries across the… Read More

Cuba real estate purchase and sales now allowed in Cuba

Posted in Cuba Business > Business In Cuba

By PAUL HAVEN | Associated Press Cuba announced Thursday it will allow real estate to be bought and sold for the first time since the early days of the revolution, the most important reform yet in a series of free-market changes under President Raul Castro. The law, which takes effect Nov. 10, applies… Read More

Cuban government closes Coral Capital - Cuban investment company

Posted in Cuba Business > Cuba-World Trade

By Marc Frank | Reuters (See comments by Havana Journal publisher in bold below) A British investment fund has become the latest company swept up in an investigation by Cuban authorities of corrupt practices among the Communist island’s state businesses and their foreign partners. Police closed… Read More

New Cuban government newspaper - The Havana Reporter

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal Yesterday I read that Cuba wants normal relations with Cuba but I felt compelled to write that this is just more Cuban propaganda and really just a disguised effort to push for the release of the Cuban Five. Today I read that Cuba is ready for dialog with the US: “Cuba… Read More

Short documentary on the current state of private business in Cuba

Posted in Cuba Business > Business In Cuba

Al Jazeera has a television program called People and Power. The video below is a recently produced documentary on the state of small business in Havana today. It features interviews with many entrepreneurs who talk about their experience with the new private enterprise in Cuba. The video illustrates… Read More

Send an electric scooter to Cuba for $1500

Posted in Cuba Business > Cuba-US Trade

Do you want to buy an ECCO E-1000 electric scooter and give it to someone in Cuba? For $1500, you can through Cuba Envios Inc (305) 999-5343. However, the person you are sending the scooter to in Cuba must pay customs duties of 200 pesos and they will have to pick up the scooter at the port of Havana.… Read More

Loma Linda Golf Estates - Standing Feather and Palmares Cuban golf resort

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal We thank Nigel Kirkwood, Information Officer of Standing Feather International Inc for his dialog to help me understand the challenges of this unique golf resort development project, explanations of Cuban law and joint venture structure along with the time frame and construction… Read More

Buying and selling real estate in Cuba - Will it happen?

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal When the 6th Communist Congress met several months ago, it was announced that by the end of 2011, the Cuban people will be able to buy and sell real estate in Cuba. Earlier this week, Cuba’s law making body the National Assembly, further strengthened the concept by voting… Read More

Update on status of small business in Cuba

Posted in Cuba Business > Business In Cuba

PAUL HAVEN | Associated Press Daily for the past five months, Yusdany Simpson has been at her street-side cafeteria under its gleaming white parasol, doing her part in Cuba’s economic makeover by churning out mayonnaise sandwiches at 12 cents a pop. Not any more. The other day, she headed to a… Read More

Cuba domain name registrations increase recently - list posted

Posted in Cuba Business > Cuba-World Trade

Rob Sequin | Havana Journal (All links out from this article are websites owned and operated by Havana Journal Inc., a Massachusetts based media network.) As regular readers of the Havana Journal know, I am an active buyer of Cuba domain names. We have developed almost 40 Cuba related websites and have… Read More

Yet another non-US company signs on to drill for oil in Cuba

Posted in Cuba Business > Cuba-World Trade

-By .(JavaScript must be enabled to view this email address) | Dow Jones Newswires Russian oil producer OAO Gazprom Neft, which is controlled by state gas company OAO Gazprom, said Monday it has signed a product-sharing contract on four blocks in the Gulf of Mexico off-shore Cuba ALSO KNOWN… Read More

Port of Mariel Cuba to be the largest industrial port in the Caribbean

Posted in Cuba Business > Cuba-World Trade

Mariel Cuba is about 28 miles west of Havana and is the largest port on the northern coast of Cuba, second only to the Port of Havana. Currently the port is undergoing a massive expansion in association with the International Economic Association and the Brazilian company Odebrecht. Brazil is financing… Read More

Leisure Canada buys Cuba domain name VisitCuba.com for $111,000

Posted in Cuba Business > Cuba-World Trade

From Leisure Canada press release Leisure Canada Inc. has announced that the company has acquired the domain name VisitCuba.com along with the existing website and assets. Purchase price was $100,000 USD in cash and 84,746 Class A common shares of Leisure Canada ($0.13.5 x 84,746 = $11,440). Therefore,… Read More

Association for the Study of the Cuban Economy - 21st Annual Conference

Posted in Cuba Business > Cuba-World Trade

The ASCE 21st annual conference will be held from August 4-6, 2011 at Hilton Miami Downtown Hotel. Every year the conference is well attended by a wide variety of Cuba experts and aficionados. It’s a great event to learn about Cuba and to network with others who share your interest in Cuba. This… Read More

New golf courses in Cuba? Not yet.

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal Golf in Cuba has been talked about for many years but building golf courses in Cuba requires a delicate mix of Capitalism and Communism. The Capitalists aren’t going to invest hundreds of millions of dollars in development and the Communists don’t want to give… Read More

Corruption in Cuba - Greed or just survival?

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal Corruption. Unfortunately it’s a way of life in Cuba due to the failure of Communism and a centrally controlled economy. A visit to the Black Market is an every day event for most Cubans so they can “resolve” the challenges of living in Cuba. When you see… Read More

Current state of small business in Cuba

Posted in Cuba Business > Business In Cuba

Anne-Marie Garcia and Andrea Rodriguez | Associated Press There was no colorful bunting to mark the grand opening, and no way to advertise in the local press. There was not even money to hand out fliers in this decaying Havana neighborhood of potholed streets and crumbling one-story homes. So when the… Read More

State of Cuban coffee industry - luke warm

Posted in Cuba Business > Business In Cuba

By Marc Frank | Reuters Cuba has taken a step toward recovering its once robust coffee crop, with local media and industry sources indicating this week that the crop is nearing the plan of 6,700 tonnes of semi-processed beans, 20 percent more than the previous harvest’s record low output. Santiago… Read More

Gaceta Oficial publishes details of ETECSA Cuba telecommunications deal

Posted in Cuba Business > Cuba-World Trade

Rob Sequin | Havana Journal The Gaceta Oficial in Cuba has published the details of the purchase of Telecom Italia’s ETECSA shares. You can read the official announcement in pdf format in Spanish or our loosely interpreted version below. The Executive Committee of the Council of Ministers making… Read More

Cuba suspends package delivery to the United States

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal Due to new security measures imposed by the United States on all incoming packages, the Cuban government has indefinitely suspended package deliveries to Cuba. This does not include letters weighing less than 16 ounces. Announced on Cuban television, the Cuban package delivery… Read More

CUBA fund jumps before Cuba travel restrictions are announced

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal For investors and followers of the Herzfeld Caribbean Basin Fund (I am both), we know that the price of this closed end mutual fund usually pops on any important Cuba news whether it’s on the US side or the Cuba side of the Florida Straits. So, with the news coming out… Read More

Cuba internet cable from Venezuela to be online in summer - with opinion

Posted in Cuba Business > Cuba-World Trade

ACN is reporting that Cuba will begin construction of an undersea internet cable soon and begin to utilize it in July 2011. Since the article is written by the Communist run ACN, the article is written in the usual way, poor old Cuba and blame the US. So, I can’t help but to comment on the parts… Read More

Former Alimport head Pedro Alvarez takes refuge in United States

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal Pedro Alvarez, former head of Cuba’s purchasing agency has “taken refuge” in the United States according to an anonymous source quoted from El Mundo. Mr. Alvarez was the former head of the Cuba purchasing agency Alimport which has been recently reorganized… Read More

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