Business & Economy Archives - Page 179 of 223

Cuba to Update Its Labor Code

The current code covers only the state sector, which is why a new code will be developed taking into account the new emphasis is being placed on self-employed and private labor.

More Sugarcane Production Expected in Cuba

The president of the Azcuba Group, which now heads the sugar industry (having replaced the previous Sugar Ministry), was optimistic about the industry’s restructuring and favorable world market price levels for sugar.

Cuba Gov. Tackles Big Corruption Case

Among those suspected to have been involved and who are now under arrest are senior-level management, government officials and other workers in the fields of commerce and quality control.

Direct Farm Products Sales to Hotels Begins

Starting today, Cuban farmers can sell their products directly to the tourism sector entities, meaning their sales will no longer have to pass through state-run intermediaries.

Cuba Party Conference, a Last Chance

The steps announced to offset the gradual move away from the paternalistic role of the state (decentralization, the autonomy of business enterprises, the relaxation of restrictions on self-employment, moves towards cooperativism, and the elimination of many absurd rules) are being carried one drip at a time and from a state-centric vision.

Cuba Loan Program to Begin Dec. 20

Bank loans for small businesses and farmers will gradually become a reality starting Dec. 20, states Cuba’s official press on Thursday. However, the overall amount of funds budgeted by the government for the loans was not made public.

Authority in Cuba Should Rely on Reason

Here in Cuba there’s not a single store where one can buy a simple board to fix the dinner table or replace a roof beam. This means that the only alternative left to people is the black market. To top it all off, though the authorities have just begun allowing self-employment by carpenters, they don’t sell them any wood.

Cuba Farmers Get New Market Freedom

Cuba will now allow its collective and individual farmers to sell directly to businesses in the tourist industry, a move geared to provide incentives for quality products and timely deliveries. The move takes effect on December 1.

Why Cuba Is Not Part of the IMF, WB & IDB

While researching his new report Reaching Out: Cuba’s New Economy and the international Response for the Brookings Institution, Feinberg found that while on the U.S. side few officials have any real knowledge of the Cuban economy, the executive branch understands that it is in the U.S. best interest for Cuba to be admitted to the international financial institutions (IFIs).

Update on Cuba Internet Cable

The controversial fiber optic cable linking Venezuela and Cuba has been tested and is already secretly providing service to some government entities, reported the Cafe Fuerte website on Thursday.