Business & Economy

Will Russia Pick Up Cuba’s Oil Tab?

January 14, 2017 | 9 comments

An article published this week in the Russian publication Sputnik has some people thinking that Vladimir Putin may be ready to provide Cuba with cheap oil to pick up the slack from Venezuela, its current supplier. Such a move by Russia would be a modified version of the former Soviet Union’s subsidizing the entire Cuban economy from the 60s until its demise in 1991.

A New Year for Cuba with the Old Style

January 12, 2017 | 8 comments

So we see that the old work style has been taken up again in the new year, the heir of the Stalinist era in Soviet Russia, characterized by “leadership” visits to workplaces, housing estates and social works under construction, etc., to make sure that plans drawn up by those at the top are being met and to make clear that “the Revolution’s work is there to benefit the people.”

Cuba Embargo Gets Boost from Trump’s Secretary of State Pick

January 12, 2017 | 2 comments

Rex Tillerson, nominated by president-elect Donald Trump as secretary of state, said Wednesday that he favors maintaining the embargo on Cuba and considered Mexico a “neighbor and friend” of the United States.

Cuba’s Free Home Internet Test in Old Havana

January 9, 2017 | 15 comments

With a free trial service the Internet is reaching 2,000 homes in Old Havana. It is the first time that ordinary citizens can access the Internet from their homes. It is said that signing contracts and charging in hard currency to those wishing to continue with the service will begin at the end of February.

Nicaragua’s Social Security: the Economic Crisis Grows

January 8, 2017 | No Comments »

Reforming the pension system is an ever more urgent task, given that the Nicaraguan Social Security Institute (INSS) has suffered losses for the fourth consecutive year (a deficit of US $44,295,000 in 2016), bringing ever closer the moment of an economic collapse if urgent changes aren’t made.

New Year Blues

January 5, 2017 | 1 Comment »

Everything closed, “or almost everything, which isn’t the same thing but is” – a singer-composer once said, this is what happened over the first three days of January in the Cuban capital.

Cuba To Export Charcoal to USA in Lead-up to Trump

January 5, 2017 | 5 comments

Charcoal made from the marabou weed bush will be the first product that Cuba exports to the United States in more than 50 years, thanks to an agreement signed today between the state-owned Cuba Export company and the US-based Coabana Trading LLC, dpa reported.

Cuba Receives 4 Million Tourists in 2016

December 31, 2016 | 4 comments

Cuba registered four million foreign tourists arriving this year, a record number that exceeds by six percent the forecasts of 3.7 million visitors by 2016, according to the Ministry of Tourism.

Cuba Registers Negative Growth for 2016

December 27, 2016 | 8 comments

Despite the high profile tourism boom, the Cuban government reported today that the national economy actually contracted by 0.9 percent in 2016, compared with 4.4 growth percent the year before.

Is Privately-Run Business the Magical Answer for Cuba?

December 27, 2016 | 27 comments

A group of friends walked past the corner on 23rd and G Streets in Havana. Alain stopped and looked at the poor state of what was once the busy Cafe G, the place of so many good memories during their university years, just a few years ago. “Do you realize… Now, if this were privately-run… it would pick itself right up off the ground.” I’ve heard this phrase several times, which summarizes the undisputed proof of before and after private individuals take over state-run businesses.