Business & Economy Archives - Page 75 of 207

Is Privately-Run Business the Magical Answer for Cuba?

A group of friends walked past the corner on 23rd and G Streets in Havana. Alain stopped and looked at the poor state of what was once the busy Cafe G, the place of so many good memories during their university years, just a few years ago. “Do you realize… Now, if this were privately-run… it would pick itself right up off the ground.” I’ve heard this phrase several times, which summarizes the undisputed proof of before and after private individuals take over state-run businesses.

Cuba’s Produce Markets at Year End

Basic products such as beans, bananas, tomatoes, corn, spices (garlic, onion and peppers), as well as seasonal fruits, have similar absolute values as they did last year.

Cuba Lowers Price 25% for Internet via Wi-Fi

Cuba’s monopoly telecommunications company, ETECSA, announced today a 25% price reduction for Internet browsing at its Wi-Fi hot spots around the country. The new price is 1.50 CUC (equivalent to 1.65 USD) per hour instead of 2.00 CUC.

Cuba Gives Google OK to Improve Access to Its Internet Services

The US company Google and Cuba’s state-owned telecommunications company Etecsa signed an agreement on Monday to improve the speed of access to Google services on the island.

A Push Forward in US-Cuba Business Before Trump Takes Over

The Signing of important agreements between large US corporations and the Cuban government have finally been confirmed, on the eve of Donald Trump entering the White House on January 20.

Venezuela Currency Recall Causes Chaos and Confusion

Venezuelans began rushing Monday to shed their 100-Bolivar bills, currently the highest denomination in the country (although only worth US $0.025), which will be out of circulation in 72 hours by a presidential order.

EU and Cuba Formalize Agreement on Political Dialogue and Cooperation

The European Union (EU) and Cuba signed today a Political Dialogue and Cooperation Agreement, which provides for much more intense political and trade exchange, as well as greater cooperation in areas such as fighting Climate change, tourism and culture. The accord had been announced weeks ago and was formalized on Monday.

Food in Cuba: A Vicious Cycle

An analysis of the food market in our country reveals the continuity of high prices which tend to increase, taking the official average salary of consumers into account. Here is my attempt to explain the different markets that exist in Cuba for food.

Venezuela Presents New Currency Denominations to Face Inflation

The Central Bank of Venezuela (BCV) introduced six new banknotes this week and three coins to facilitate commercial transactions amid the escalating inflation in the country. Circulation will begin as of December 15th.

Cuba’s Sugar Harvest (2016-2017) Begins

Up until the first years of the Revolution, there were 161 operating sugar mills, and production varied between 4 and 5 million tons per year, with all-time highs of just over 8 million tons per year in the ‘70s and ‘80s. However, over the last few years, only 50-60 sugar factories continue to grind sugar with production levels standing at 1 to 3 million tons per year.