Cuba News

Cuba News

Cuba’s economic reforms debated at Miami conference 0

tres-pesosReposted from the Miami Herald
By Mimi Whitefield

As Cuba struggles to reform its faltering economy, it has engaged in a delicate balancing act of trying to spur growth while maintaining control and keeping market forces from getting out of hand.

That was the quandary under discussion Thursday as economists, political scientists, business executives, lawyers and scholars from the United States, Latin America, and Europe came together in Miami to discuss the theme “Reforming Cuba?” at the 23rd annual meeting of the Association for the Study of the Cuban Economy. More…

Cuba’s Economy: Money Starts to Talk 0

Cuba is accelerating its pace of economic reform

Cuba is accelerating its pace of economic reform

Reposted from The Economist

AT 9.01am one morning earlier this month, Marino Murillo, a member of Cuba’s ruling Politburo, strode on to the stage at the International Press Centre in Havana, gave a concise account of the government’s economic plans, and took questions for 45 minutes. What would have been routine elsewhere was remarkable in communist Cuba, for three reasons. Gone is the interminable waiting around for the late-night rants of Fidel Castro: punctuality is one of the hallmarks of the government led since 2006 by his younger brother, Raúl. And after internecine political battles over liberalising economic reforms, the government is confident enough of its message to have invited a small group of foreign journalists to hear it—the first such initiative in many years. More…

Cuba plans to build first biofuel power plant 0

The Cuban government has expressed an interest in recent years in increasing electricity production from renewable sources.

The Cuban government has expressed an interest in recent years in increasing electricity production from renewable sources.

Reposted from The Business Standard

Cuba plans to build a $60 million power plant fueled by sugarcane residue, marking the island’s first foray into electricity generation using biofuel.

The plant will be built with Chinese technology and technical support, the official Prensa Latina news agency reported.

Construction of the 20 MW power plant will begin at the end of this year at a sugar refinery in the western province of Matanzas, Prensa Latina said. More…

Cuba, Bolivia hold business forum 0

The business forum was held in the Hotel Nacional in Havana.

The business forum was held in the Hotel Nacional in Havana.

Reposted from The Caribbean Journal
By Caribbean Journal staff

Cuba and Bolivia began their first-ever business forum and roundtable at the Hotel Nacional in Havana on Thursday.

The forum was led by Estrella Madrigal Valdes, the president of Cuba’s Chamber of Commerce, who called for increasing trade and business ties between the two countries. More…

Remittances from Cubans abroad drive the island’s economy 0

The injection of remittances has been a powerful pillar for the country’s economy, which has been practically stagnant and with high levels of unemployment.

The injection of remittances has been a powerful pillar for the country’s economy, which has been practically stagnant and with high levels of unemployment.

Reposted from The Miami Herald
By Juan Carlos Chavez

Cash remittances to Cuba in 2012 surpassed all revenue coming from the main components of the Cuban economy while becoming the largest element of support to the retail market, according to a study by a Miami-based analysis group.

The study, titled “Remittances to Cuba: the Most Powerful Engine of the Cuban Economy,” was done by The Havana Consulting Group. It concludes that in 2012, remittances reached $2.605 billion. The number represents an increase of more than 13 percent compared to the previous year of nearly $2.3 billion. More…

British firm to help develop Cuba golf resort 0

Reposted from Zeebiz.comcuban-flag2

Havana: The British firm Esencia Hotels and Resorts is to take part in developing a USD 350-million golf resort on the island in a project approved by Cuba’s tourism authorities. More…

Akerman Practice Update: Law to Punish Companies with Cuba Ties Struck Down 0

akermanlogoReposted from Akerman

Last week, the 11th U.S. Circuit Court of Appeals in Miami declared unconstitutional a 2012 Florida law intended to prevent foreign companies with ties to Cuba — or that are in any way related to a company that does business in Cuba — from being awarded contracts worth $1 million or more by state and local government agencies. The court ruled that the law violated the Supremacy Clause of the U.S. Constitution and in doing so upheld an earlier injunction issued by the District Court for the Southern District of Florida that had barred the Florida State Department of Transportation from enforcing the provisions at issue. More…

Cuba Practice Update: Cuba Details Rules for Special Economic Zone 0

akermanlogoReposted from Akerman

The Cuban government last week released details of customs reforms for a long-planned free trade industrial manufacturing and maritime shipping facility in the Mariel Special Development zone, some 25 miles west of Havana. More…

Analysis: Raúl Announces Retirement, Appoints Likely Successor 0

cuban-flag2Reposted from Akerman
By Matthew Aho and Pedro Freyre

Cuban President Raúl Castro’s announcement last Sunday that he will retire in 2018, coupled with his decision to promote apparent successor Miguel Díaz-Canel, 52, to first vice president of the ruling Council of State, is a major milestone for the island: there is now a next-generation leader—and a non-Castro—poised to take the helm of power in Havana and the Cuban government may be moving towards a collective leadership model similar to those in China and Vietnam. More…

Is Cuba The Next Emerging Market? 0

Havana

Havana

Reposted from Forbes
By Alexa van Sickle
Originally Posted on January 29, 2013

On Dec. 11, Cuba authorized the formation of non-agricultural cooperatives. The latest in a series of small liberalizations, this measure could lead to the formation of small and mid-sized businesses in Cuba, and transform sectors of the country’s economy. More…

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