Business & Economy


China Replaces Venezuela as Cuba’s Main Trade Partner

August 18, 2017 | 1 Comment »

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.




Cuba Says New Business Licenses Will Be Issued

August 9, 2017 | 3 comments

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 person.




Cuba Gov. Shuts Down Accounting Cooperative

August 7, 2017 | 3 comments

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.”




Cuba Suspends New Licenses for Work in Private Sector

August 1, 2017 | 10 comments

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.




The Feat of Buying a Packet of Beef Jerky in Cuba

July 31, 2017 | 2 comments

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.




Cuba Faces a Post-Harvest Crisis

July 29, 2017 | 6 comments

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 food products each year.




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

July 26, 2017 | 4 comments

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




Foreign Investment in Cuba: Are the Obstacles Too Great?

July 24, 2017 | 1 Comment »

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.




US Considers Suspending Oil Imports from Venezuela

July 18, 2017 | 6 comments

Donald Trump says he means business and does not rule out any option, including the suspension of Venezuelan oil imports, as part of the economic actions against the government of Nicolas Maduro.




A Cancer That Eats Away at Cuba

July 18, 2017 | 3 comments

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 generation.