Business & Economy

Cuba and Development: Where It’s Headed

The problem with the notion of “development” in any of the disguises we’ve known so far (economic, human or sustainable development) is that it is an insatiable project, in which “the things we have at home” are never enough.

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Cuba Explains Its Foreign Investment Needs to Russia Based Bankers

Cuba’s economic chief, Marino Murillo, explained to the visiting bankers the ongoing process of updating the Cuban economy — it is already in its second stage, he told them — and said that the government has decided to abolish the dual currency system and establish the national peso (CUP) as the only unit of currency.

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Cuba Has a New Unified Payment System

The option of purchasing products at hard currency stores in regular Cuban pesos (CUP) will be made available in commercial centers around Cuba this month as part of the government’s plan to re-establish a single-currency monetary system on the island.

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Two Pastry Shops in Old Havana

Katia Bianchini is half-Italian, half-Swiss. She has been living in Cuba for 10 years and has since opened two pastry shops that carry her surname. One is located on Sol street, between Avenida del Puerto and Oficios. The other stands on Callejon del Chorro, on Old Havana’s Cathedral plaza.

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Greater Autonomy for Cuban State Companies

Cuba’s Official Gazette published a series of legislative measures aimed at giving State companies greater administrative autonomy and relaxing government control over their management. Under the new norms, State companies will be authorized to retain up to 50 percent of their earnings after taxes.

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Cuba Has Tourism Dilemma over Passports

Travel agencies selling tickets from the United States to Cuba are trying to prevent Cubans with expired passports from boarding planes to the island, after the Cuban government hardened its requirement on revalidated passports. The situation mainly affects travel by Cuban-Americans.

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