Cuba: Micro-Loans for Micro-Entrepreneurs
Self-employed entrepreneurs who need startup money can apply to banks for loans as small as 38 dollars instead of the previous minimum of 113 dollars, the Central Bank of Cuba has announced.
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Business & Economy
Chinese Firm to Assemble Cars in Cuba
A leading Chinese automobile manufacturer will start assembling its vehicles in Cuba. The Hangzhou-based Geely International Corporation is now preparing to launch its project “in a local place” in Cuba, the Global Times reported.
Read MoreLong Hours for Workers at Cuban Airport
The workday of the brigade making repairs to Terminal 3 of the capital’s Jose Marti Airport, was extended to 14 hours a day , reported Trabajadores weekly .
Read MoreVaradero Adjusts to Rising Seas
Varadero, Cuba’s leading tourist destination for sun and beaches, loses between 70 centimeters and one meter of coastline each year due to rising sea level, reported the Cuban News Agency.
Read MoreCuba to Increase Wages for Doctors
A much-announced wage increase will reach the pockets of Cuban health professionals this coming January, sources that prefer to remain anonymous told HT. There had been talk of this for about a year.
Read MoreCuba to Issue Bonds to Finance Budget Deficit
Cuba will begin to issue sovereign bonds to pay for the debt generated by the budget deficit, Finance Minister Lina Pedraza told the Cuban parliament on Saturday. The nation will in this way finance up to 70 percent of the deficit, which in 2014 is expected to reach 4.7 percent of the GNP.
Read MoreCuba Confirms Elimination of Hard Currency CUC
The point man of the Cuban economy, VP Marino Murillo, confirmed Friday that the Cuban Convertible Peso (CUC) will be eliminated in the process to reestablish a one-currency system on the island. No date or timeline was given for its disappearance.
Read MoreCuban Pianist Robert Fonseca Reaches New Heights
The latest album of Cuban pianist Roberto Fonseca, “Yo” (I) , is among the 10 best musical productions of 2013 in the U.S., according to a survey by The Washington Post. The musician announced on its Web site several tours during March and April next year, in Australia , New Zealand , Hong Kong , France and the UK.
Read MoreCuban VP Marino Murillo Reappears
After days of rumors about the possible defection of Cuban Vice President and economic reforms chief, Marino Murillo Jorge, the official was reported present during a session this week of the Council of Ministers in the Cuban capital.
Read MoreNew Homes Shoot-Up for Cuba’s Military
The Cuban government has set an ambitious construction project in motion. Headed by the Ministry of the Revolutionary Armed Forces (FAR), the project is aimed at building thousands of homes for military officers and civilian employees in urban areas.
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