China replaced Venezuela as Cuba’s main trading partner in 2016, with an exchange of over 2.585 billion USD, due to the South American country’s deep economic crisis, which has reduced bilateral trade with the island by 70% since 2014, according to official statistics from the Cuban government.
Read MoreThe Cuban government said Tuesday that the suspension of new licenses for the private sector will not be maintained for “a very long period of time,” local media reported. What “not very long” means in Cuban terms is left to the interpretation of each person.
Read MoreCuban authorities have ordered the Scenius cooperative, which is dedicated to providing accounting services and is the most important in the country in its field, to close down. It has been accused of unspecified “serious and repeated violations.”
Read MoreThe Cuban government has suspended indefinitely the issuance of new licenses to various types of previously allowed private employment, with the aim of “curbing tax evasion and violations of the law,” local media reported today.
Read MorePackets of beef jerky, 500g for 0.75 CUC! Word spread like wildfire through all of Central Havana, the “bargain” was waiting at Carlos III, the largest hard currency mall in the Cuban capital. A never-ending queue for three days, people could buy however much they wanted and that’s exactly what they did. Even the police had to intervene in order to keep things orderly.
Read MoreFor a half century the Cuban media boasts of successes in food production while the population faces endless shortages. Everyone is aware of the contradiction. Facing a growing financial crisis, the country continues to import over a billion dollars in food products each year.
Read MoreThe United States government issued new clarifications on Tuesday on measures that will take effect for travel, remittances and business with Cuba under President Trump’s policy toward the island. Illustration: progresoweekly.us
Read MoreAt these “now-or-never” times for Cuba, it’s crucial that organized and efficient foreign investment is given priority, as it would be no exaggeration to say that the future of Cuba, just as we have dreamed it, depends on this.
Read MoreDonald Trump says he means business and does not rule out any option, including the suspension of Venezuelan oil imports, as part of the economic actions against the government of Nicolas Maduro.
Read MoreCuban authorities side-stepped the diagnosis and early treatment of this aggressive mental disease and chose to remain silent, pretending like nothing was happening and imagining that this evil nature would disappear all of a sudden in the next generation.
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