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September 2017
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Business & Economy

Maduro Arrives in Cuba to Deliver a Donation

Venezuelan president Nicolas Maduro arrived in Cuba at midnight Thursday to personally hand over a donation towards rebuilding the damages caused by Hurricane Irma. Maduro is Cuba's leading political and economic ally. Continue reading

Cuba Gov. to Finance Some Building Materials to Victims of “Irma”

The Cuban government will finance the purchase of some construction materials that will be sold to the victims whose homes were totally or partially destroyed by Hurricane Irma. Continue reading

What Canada Says about Travel to Cuba

On September 11, two days before the US government put out a warning against travel to Cuba, Canada also published a travel advisory for its citizens. The Canadian government says the information is still valid today Sept. 15th. Continue reading

Repairing Tourist Facilities Is Havana’s Top Priority

Hotels in Havana’s coastal areas have suffered “minor damage” after Hurricane Irma swept through, but they will be ready to receive tourists by the end of this week thanks to “quick” repair and cleaning actions, managers from Cuba’s Tourism Ministry. Continue reading

Havana Airport Reopens for Flights

The Jose Marti International Airport in Havana reestablished its operations on Tuesday following the passage of Hurricane Irma. Thousands of tourists are still stranded on the island waiting for international flights to begin. Continue reading

To Go or Not to Go to Cuba after Irma

On our Facebook page there is a good discussion going on as whether people should maintain their plans to visit Cuba in the coming days, weeks or months or cancel or postpone their trips after the damage caused by Hurricane Irma, which is still being ... Continue reading

Castro Sees Cuba’s Tourism Infrastructure Restored Quickly

Faced with the worst disaster in decades Cuban President Raul Castro made a call Sunday for Cubans to maintain the faith in another victory after the powerful Hurricane Irma swept over a large portion of the country from east to west. Continue reading

Hurricane Irma Deals Blow to Tourism in Cuba

A police patrol car gives a warning to the rest of the cars on the road so that they can give way to a caravan of dozens of buses which carry thousands of tourists who have been evacuated from hotels located on the northern coast of the island towards ... Continue reading

China Replaces Venezuela as Cuba’s Main Trade Partner

China replaced Venezuela as Cuba’s main trading partner in 2016, with an exchange of over 2.585 billion USD, due to the South American country’s deep economic crisis, which has reduced bilateral trade with the island by 70% since 2014, according to official statistics from the Cuban government. Continue reading

Cuba Says New Business Licenses Will Be Issued

The Cuban government said Tuesday that the suspension of new licenses for the private sector will not be maintained for "a very long period of time," local media reported. What "not very long" means in Cuban terms is left to the interpretation of each ... Continue reading

Cuba Gov. Shuts Down Accounting Cooperative

Cuban authorities have ordered the Scenius cooperative, which is dedicated to providing accounting services and is the most important in the country in its field, to close down. It has been accused of unspecified “serious and repeated violations.” Continue reading

Cuba Suspends New Licenses for Work in Private Sector

The Cuban government has suspended indefinitely the issuance of new licenses to various types of previously allowed private employment, with the aim of "curbing tax evasion and violations of the law," local media reported today. Continue reading

The Feat of Buying a Packet of Beef Jerky in Cuba

Packets of beef jerky, 500g for 0.75 CUC! Word spread like wildfire through all of Central Havana, the “bargain” was waiting at Carlos III, the largest hard currency mall in the Cuban capital. A never-ending queue for three days, people could buy however much they wanted and that’s exactly what they did. Even the police had to intervene in order to keep things orderly. Continue reading

Cuba Faces a Post-Harvest Crisis

For a half century the Cuban media boasts of successes in food production while the population faces endless shortages. Everyone is aware of the contradiction. Facing a growing financial crisis, the country continues to import over a billion dollars in... Continue reading

How New US Regs on Cuba May Affect Your Travel and Business Plans

The United States government issued new clarifications on Tuesday on measures that will take effect for travel, remittances and business with Cuba under President Trump's policy toward the island. Illustration: progresoweekly.us Continue reading

Foreign Investment in Cuba: Are the Obstacles Too Great?

At these “now-or-never” times for Cuba, it’s crucial that organized and efficient foreign investment is given priority, as it would be no exaggeration to say that the future of Cuba, just as we have dreamed it, depends on this. Continue reading

A Cancer That Eats Away at Cuba

Cuban authorities side-stepped the diagnosis and early treatment of this aggressive mental disease and chose to remain silent, pretending like nothing was happening and imagining that this evil nature would disappear all of a sudden in the next generat... Continue reading

It’s Getting Harder and Harder to Change Money in Havana

The existence of two currencies as legal tender means that converting one for the other is a necessity, depending on the things you need to buy, while trying to save one’s meager salary at the same time. The current reality of the situation is that the much-needed conversion of these currencies has become a real challenge for the Cuban people. Continue reading

Cuba Announces Growth of 1.1% of GDP in 2017

The Cuban government estimated a 1.1 percent growth in gross domestic product (GDP) during the first half of this year, after posting a negative balance in 2016, reported dpa news today based on official sources. Continue reading

Understanding the New US Policy on Cuba

The executive order signed by President Donald Trump this Friday in Miami to change US policy towards Cuba contains, in essence, new restrictions on travel and commercial activities, but does not affect family visits or remittances from the Cuban-Ameri... Continue reading

Two Private Restaurants Closed in Havana

Cuban authorities have launched a campaign to prevent economic the opening on the island being ripe for money laundering from abroad. The owner of two successful restaurants on the Havana seafront has been the first to be arrested. Continue reading

Trump Asked to Prioritize Compensations in his Cuba Policy

Republican senator Marco Rubio and Democrat senator Bill Nelson have asked the Trump administration to give priority to compensation to US citizens who lost assets when Fidel Castro nationalized these at the onset of the Revolution. Continue reading

Cuba Housing Construction: 10 Years in Decline

Housing construction in Cuba has fallen for the tenth consecutive year in a row, adding to the further decline in a country with great housing shortages. This despite the opening of the housing market for buying and selling and some government subsidies. Continue reading

Murillo Reappears Presiding a Parliamentary Session with Raul Castro

The so-called tsar of economic reforms in Cuba, Marino Murillo, reappeared on Thursday on the political stage during an special session of the National Assembly, along with president Raul Castro. He had been absent from the public for over a year. Continue reading

Cuba National Assembly Special Session Called for Thursday

The Cuban government has called for a special session of the National Assembly of the People’s Power to be held on Thursday June 1st, to officially approve documents which will govern the national political and economic strategy in the coming years. Continue reading

Pro & Contra US-Cuba Exchange Offensive

There are two very distinct approaches trying to influence the Trump administration’s awaited Cuba policy. An initial look at the US president’s plans for the relationship with the neighboring country is expected in the not too far off future. Continue reading