Business & Economy Archives - Page 89 of 225

Cuba Announces “Economic Readjustments” for 2018

The Cuban government has announced that it will be lowering state expenditures in 2018 to levels inferior to this year, a clear sign of the country’s worsening economic situation.

Google’s Real Impact in Cuba Today

A news item from the AP news agency has reported that “Google’s GGC nodes finally went active in the last 24 hours”, wrote on Thursday morning Doug Madory, analysis director at Dyn Research which is based in New Hampshire on twitter.

General Motors Leaves Venezuela after Factory Confiscation

US automaker General Motors (GM) announced today the cancellation of its operations in Venezuela after denouncing the confiscation of one of its plants by the government of Nicolas Maduro.

Brazilian Justice Calls for Investigating Lula over Cuba Projects

Brazilian prosecutors seek to investigate former President Luiz Inacio Lula da Silva, accused of corruption, in connection with the Odebrecht corporation’s construction operations in Cuba, reports the Estado de Sao Paulo newspaper quoting secret court documents.

Cuban Officials Linked to Telecom Business with China Arrested

Two senior Cuban officials linked to business with the Huawei consortium, a Chinese enclave within the state’s telecommunications monopoly on the island, were arrested in Havana on corruption charges.

Cuba Suspends Sending More Doctors to Brazil

Brazilian authorities announced on Monday that they will seek to hire more local doctors after Cuba suspended sending more than 700 of its doctors, part of a health agreement between the two countries, for fear of defections.

Cuba’s State Entities Benefit from Local Laptop and Tablet Assembly

While having a computer or tablet is a distant dream for many people in Cuba due to the high prices they sell for on both the regular and black market, a government institution has been assembling both electronic devices to sell to state owned companies and institutions.

The Cuban Market and its Inconsistencies

Not using the market properly has been – and still is – one of the country’s economic failures; not to mention the fact that it has also functioned without recognizing its mechanisms. Professor Fernandez Estrada notes, “we have to create conditions so that its the producers or suppliers who are competing against each other to sell their products, instead of what we have today in almost every sector of the economy, where its consumers competing against one another to buy what they need.”

Cuba Faces Gasoline Crunch from Venezuela Crisis

As of April 1st, Cuban gas stations will only sell premium gasoline in cash and to tourists until stocks run out. The cause being reduced shipments of subsidized oil from Venezuela, which is facing its own serious economic crisis.

Despite Severe Drought, Cuba Banks on More Golf Courses

For weeks now the subject of prolonged drought in the majority of Cuba’s municipalities and the need to conserve on water use has been a topic in the media. So how does the government’s push for more golf courses fit into the picture?