Business & Economy

Nicaragua Minimizes Impact of the Venezuelan crisis on its Economy

May 26, 2016 | 3 comments

The Government of Nicaragua has alternative sources of external funding and “will not die” by the virtual collapse of the Venezuelan aid, which has supported the country’s economy for nearly ten years, said Bayardo Arce, economic adviser to President Daniel Ortega on Thursday.

Raul Castro’s Possible Successor Visits Putin in the Kremlin

May 26, 2016 | 4 comments

If everything goes as the script has it, in 2018 Raul Castro will retire as president of Cuba and pass on the baton to his First Vice President, Miguel Diaz Canel, currently on a visit to Russia to meet with President Vladiimir Putin and other top authorities.

“Transformers 5” To Be Shot Partly in Cuba

May 19, 2016 | 5 comments

Paramount Pictures will film in Cuba parts of the fifth installment of the film “Transformers”, reported dpa on Thursday.

Cuba Gov. Drops Price on Powdered Milk

May 17, 2016 | 20 comments

In an effort “to gradually give more value” to Cuban salaries, the government announced Monday it would drop the price of 0.5 kg of imported milk powder by 9 percent to 2.65 CUC (around 3.00 usd).

Experimental Wholesale Market Closed in Havana

May 13, 2016 | 8 comments

The El Trigal wholesale market for farm products, located in the outlying Havana municipality of Boyeros, will be closed as of Friday due to “irregularities”, announced government authorities. The move shuts down an important supply source to the population of the capital, particularly the retail markets, other sales outlets and self-employed street vendors, the main buyers.

Nicaragua in the Panama Papers

May 11, 2016 | No Comments »

The leak of 11.4 million documents kept by the Panamanian firm Mossack Fonseca, popularly known as the Panama Papers, has afforded the public access to thousands of Nicaragua-related files that were reviewed by a Confidencial journalistic team over the course of four months.

Cuba’s State Telecom Monopoly Inks Deal with T-Mobile

May 9, 2016 | 4 comments

Cuba’s only telecommunications company, ETECSA, signed agreements with T-Mobile that will benefit US customers using voice traffic, texting and data transmission, the two companies announced on Monday.

Venezuelan Supreme Court Blocks Property Ownership for Housing Projects

May 7, 2016 | 4 comments

At the request of the Maduro government, the Venezuelan Supreme Court has overturned virtually every law passed by the legislature, controlled by the opposition. The latest came on Friday when it ruled unconstitutional a law passed by the National Assembly granting property titles to the occupants of government built housing.

Don’t Expect to See Cuban Coffee Sold in the US

May 6, 2016 | 2 comments

The National Bureau of Cuba’s Small Farmers Association (ANAP) – the elite of government officials who represent Cuban farmers–, kicked up a fuss in response to the decision announced by the US Treasury Department on April 22, authorizing independent producers on the island to export coffee to the United States.

Havana Breathes Luxury with Chanel Models

May 4, 2016 | 10 comments

European glamor and luxury brought a new air to Havana with the catwalk of Chanel models on the Prado Promenade in Old Havana on Tuesday evening, something unthinkable before rapprochement with the United States.