Business & Economy Archives - Page 92 of 225

Cuba Receives 4 Million Tourists in 2016

Cuba registered four million foreign tourists arriving this year, a record number that exceeds by six percent the forecasts of 3.7 million visitors by 2016, according to the Ministry of Tourism.

Cuba Registers Negative Growth for 2016

Despite the high profile tourism boom, the Cuban government reported today that the national economy actually contracted by 0.9 percent in 2016, compared with 4.4 growth percent the year before.

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.