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Comments about Cuba’s economic reforms by Yoani Sanchez

Posted in Cuba Business > Business In Cuba

Yoani Sanchez writes “Reforms in Cuba: Two Steps Forward One Step Back” for the Huffington Post. The last days of December, a good time to walk the streets and capture the differences of this 2012 compared to the previous year. The agricultural markets are better stocked although prices have… Read More

Unofficial fledgling Havana farmer’s market

Posted in Cuba Business > Business In Cuba

Nick Miroff | Global Post Havana now has a wholesale produce market. Is it here to stay — or just an apparition? Cuba has yet to grasp the invisible hand of Adam Smith, but it is giving some space to an invisible market. Invisible, at least, during the day. At night, in an empty lot at the edge of… Read More

Esencia’s Havana Energy begins Cuba biofuel joint venture project

Posted in Cuba Business > Cuba-World Trade

Rob Sequin | Havana Journal With no announcement by the Cuban government that I found, Havana Energy CEO Andrew Macdonald announces a $50million investment in a Ciro Redondo sugar mill. This is believed to be one of the largest foreign investment deals in Cuba in recent years. He is seen walking through… Read More

Foreign Direct Investment in Cuba seminar

Posted in Cuba Business > Cuba-World Trade

What Roles for Foreign Direct Investment in the New Cuban Economy? Today’s ailing Cuban economy is marked by high labor costs, low wages and small inflows of foreign investment. In 2011, under President Raúl Castro’s leadership, the government started instituting reforms to open the economy. Positive… Read More

China helping Cuba to upgrade and expand cargo and tanker fleet

Posted in Cuba Business > Cuba-World Trade

Rob Sequin | Havana Journal China is investing in the development of Cuba’s commercial shipping fleet by agreeing to build ten 45,000 ton ocean vessels over the next several years. Four have already been delivered to Cuba. Six more will be delivered to the soon-to-be-opened container terminal port… Read More

Buffalo raised in Cuba? Who knew?

Posted in Cuba Business > Business In Cuba

From DTCuba.com The Cuban economy promotes buffalo raising in several areas in the country, as an alternative to improve food supply to the domestic market. According to specialists, the buffalo meat is very nutritious and has lower fat content than other meats; and the milk is rich in vitamins, minerals,… Read More

Cuban lobster industry update

Posted in Cuba Business > Business In Cuba

From DTCuba.com Pinar del Río, Cuba’s westernmost province, promotes lobster capture in order to meet market needs. About 63 vessels, which are participating in the lobster season, have accumulated close to 1,300 tons of lobster, of an annual plan comprising 1,928 tons. According to specialists, conditions… Read More

Crowley and Cuba shipping company work together to salvage vessel in Cuban waters

Posted in Cuba Business > Business In Cuba

Press Release The first of four Crowley Maritime Corporation ocean class tugboats, Ocean Wave, completed its inaugural project earlier this month by removing a grounded containership from the northern coast of Cuba. The job is additionally significant because it utilized many of Crowley’s unique capabilities,… Read More

Cuba business news update

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal I read well over a dozen Cuba news articles and blog posts every day about Cuba. Sometimes I have to share them with Havana Journal readers. Here are some recent Cuba business news articles that I think you will enjoy. 1. A VERY thorough interview with Tom Herzfeld regarding… Read More

China to invest in (give) Cuba even more money

Posted in Cuba Business > Cuba-World Trade

AFP original title: China, Cuba to intensify trade as Havana meets debt payments Comments by Havana Journal publisher in bold Cuba will intensify its economic ties with China no interest loans, having met payments on its debt with Beijing paying pennies on the yuan, its second largest trade partner sugar… Read More

Havana Holding Pattern - tomorrow is just another day in Cuba

Posted in Cuba Business > Business In Cuba

This is such a great summary of the current financial climate in Cuba by The Economist, I had to post the article and could not resist commenting. A month ago I posted this article You STILL want to invest time and money in Cuba? You will loose both along with my article The Irrelevance of Fidel Castro.… Read More

Discussion: Raul Castro’s Socio-Economic Reforms in Cuba

Posted in Cuba Business > Business In Cuba

Raul Castro’s Socio-Economic Reforms in Cuba: Evaluation of Results Speaker Carmelo Mesa-Lago is a Distinguished Service Professor Emeritus of Economics and Latin American Studies at the University of Pittsburgh Carmelo Mesa-Lago has been a visiting professor or researcher in Argentina, Germany,… Read More

Cuban farm coops sell 24 tons of produce to Jardines del Rey hotels

Posted in Cuba Business > Business In Cuba

The article below is from the Cuban News Agency. Maybe the Cuban government is finally realizing the benefits of a free(r) market economy. Read on… Direct sales of produce to the local international tourist sector were reported at over 24.5 tons from April to July in central Ciego de Avila province… Read More

You STILL want to invest time and money in Cuba? You will loose both

Posted in Cuba Business > Cuba-World Trade

HJ Publisher comments… Original title: Foreign business in Cuba: Beware the dangerous embrace. People contact me on a regular basis saying they want to open a business in Cuba or invest in real estate there or try to export something etc etc. I hear it all the time. I have been fortunate to do… Read More

The new phone books are here! - First look at Havana yellow pages

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal The new Havana yellow pages are circulating through Havana. The quality is what you would expect from any major city yellow pages but it is very thin at only 3/8” thick and just under 200 pages. The Paginas Amarillas/Directorio Telefonico de Cuba, La Habana edition… Read More

Cuba news worth reading today

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal As publisher of HavanaJournal.com and avid reader of all Cuba news items I find, get from RSS feeds and sent to me each day from a variety of sources, I figured I would post in one place the Cuba news articles I have read so far today. Also, since I haven’t put out a… Read More

International Port Corp gets OFAC approval for Miami to Cuba cargo ship route

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal Implied in the company’s press release, International Port Corp (IPC) has been granted a Carrier Service Provider license from the US Treasury’s Office of Foreign Assets Control, the agency in charge of licensing US Cuba trade and travel. IPC has announced that… Read More

China writes a blank check to Cuba with “donations and interest-free loans”

Posted in Cuba Business > Cuba-World Trade

Using language from the Fox news article “agreements that include donations and interest-free loans” sounds like the term “blank check” to me. Talks between Chinese President Hu Jintao and Cuba’s Raúl Castro ended with the signing of eight accords, including one on a loan… Read More

Cuban government admits: Cuban honey production increases due to increase in pay to beekeepers

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal DTCuba puts out a great newsletter each week featuring Cuba business, culture and travel related news from Cuba. The site is run by the Cuban government, influenced/monitored/edited by the Cuban government or at the VERY least approved by the Ministry of Tourism in… Read More

The risks of investing in Cuba today

Posted in Cuba Business > Business In Cuba

HJ Publisher: Original title is Risky Business: Investing in Cuba Is More Than Just a Financial Gamble. This is a well written, thoroughly researched article by the author. The information is balanced and factual… two difficult things to do when writing about Cuba. I also thank him for including… Read More

Largest OFAC settlement in history - $619million from ING Bank

Posted in Cuba Business > Cuba-World Trade

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $619 million settlement with ING Bank N.V. (“ING Bank”) to settle potential liability for apparent violations of U.S. sanctions. Today’s settlement is the largest OFAC settlement of… Read More

Fuego Entertainment does reverse merger with Cuba Business Development Group

Posted in Cuba Business > Business In Cuba

from press release Fuego Enterprises Inc (trading on the pink sheets as FUGI), a Nevada corporation, today announced shareholder consent of the approval of its reverse merger with Cuba Business Development Group Inc. aka CBDG. As part of this transaction, the company shall issue shares of common stock… Read More

Pernod Ricard gives up Havana Club rum brand in the US, goes with Havanista brand

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal Pernod Ricard of France announced that is will give up its Havana Club rum brand for the US market and that it has registered the Havanista rum brand in the United States. It will launch the brand if/when the US Embargo on Cuban imports is lifted. Havana Club brand trademark… Read More

CUNY Bildner Center hosts Economic Transformation in Cuba seminar

Posted in Cuba Business > Cuba-World Trade

Rob Sequin | Havana Journal The Bildner Center at CUNY in New York City is hosting a seminar titled “Economic Transformation in Cuba” on Monday May 21, 2012. Since Raul Castro took over as President of Cuba, he has launched several initiatives to revamp and change the highly centralized form… Read More

First Cuban business delegation visits South Korea

Posted in Cuba Business > Business In Cuba

Korea Times A rare economic delegation arrived in Seoul Monday. The mission consists of officials and businessmen from Cuba, one of the four countries with which Korea has no diplomatic relations. The Ministry of Foreign Affairs and Trade said the delegation will stay here until Friday to seek ways to… Read More

Cuba business news update

Posted in Cuba Business > Business In Cuba

Rob Sequin | Havana Journal DT Cuba offers a lot of information about Cuban business, culture and travel and regularly reports on Cuban business news. I suggest subscribing to their newsletter as seen on the left side of the page here. Here is a summary of a few business articles from Cuba. However,… Read More

Cuban Business Report

Posted in Cuba Business > Business In Cuba

Excerpts from DTCuba.com Cuban Tourist Sector Reports One Million Visitors On April 5, the Cuban tourist sector reported one million visitors; five days ahead of the predicted date. According to the Ministry of Tourism, during the first quarter of the year there has been an approximate 4 percent increase… Read More

Advertising rates and ad placement opportunites for Cuba websites

Posted in Cuba Business > Cuba-US Trade

Without revenue from advertisers, most blogs, newspapers, television and radio networks would not be in business. This website is no different so it is important to us that our advertisers experience a very high return on investment and we work with each advertiser to ensure they are happy with their… Read More

Port Everglades to seek approval for passenger ferry service to Cuba

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal Recently, Havana Ferry Partners was denied permission to operate a passenger ferry to Cuba because the service was “outside the scope” of the OFAC regulations. It appears that in order for any ferry service to Cuba to be approved, the ferry operator must operate… Read More

Cuba: Forbidden Fortune CNBC half hour special tonight

Posted in Cuba Business > Cuba-US Trade

Rob Sequin | Havana Journal “Cuba: Forbidden Fortune” premieres tonight at 9 pm Eastern time on CNBC and will re-air at midnight. According to the header of the promotional page for this half hour CNBC special on business in Cuba… American business set their sights on what could a lucrative… Read More

Herzfeld CUBA fund article

Posted in Cuba Business > Cuba-US Trade

By Joe Light | Wall Street Journal (see bold text for information I like) Ask Thomas J. Herzfeld about Cuba, and the usually low-key money manager launches into a sermon he has delivered many times. The 67-year-old Mr. Herzfeld says the country, under a U.S. trade embargo for 50 years, is the investment… Read More

Cuba foreign investment risk assessment

Posted in Cuba Business > Cuba-World Trade

French CoFace credit risk and investment company has released a risk assessment for the country of Cuba. Coface country assessment reports analyze and forecast country risk using macroeconomic, financial and political data. The company reviews the financial history and the risks to the business environment… Read More

Annual Report - Herzfeld Caribbean Basin Fund - CUBA

Posted in Cuba Business > Cuba-World Trade

Rob Sequin | Havana Journal The Herzfeld Caribbean Basin Fund has released its Semi-Annual Report dated December 31, 2011. While I am not a financial analyst, I thought it would be interesting to highlight some of the investments and language from the Report for our Havana Journal readers. This is a… Read More

Wrap up of 2011 Cuban economy and business in Cuba - Miami Herald

Posted in Cuba Business > Business In Cuba

By MIMI WHITEFIELD | The Miami Herald   It has been nearly four years since Cuban leader Rául Castro announced plans for a series of reforms to raise Cubans’ living standards and tie personal gain to individual work and initiative. Change came at a glacial rate for the first few years.But in… Read More

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