Economic News About Cuba
The Cuba Investment Working Group aggregates business news about Cuba. To find an archived post or news about a specific topic, please use the search function. At the side of the page please find an archive of all posts.
Western Union has launched a "Send to Cuba" function on its online and mobile app money transfer system enabling its customers to digitally move money to Cuba in seconds.
A delegation of senior Singaporean business leaders and government officials are currently visiting Cuba. The trip is being organized by The Singaporean Business Federation (SBF) and IE Singapore.
Japan's largest sogo shosha, or trading house, Mitsubishi Corporation has opened an office in Havana. The opening of Mitsubishi's representative office in the Cuban capital comes amid news that fellow Japanese mega-corporations Marubeni and Mitsui & Co. will do the same in the coming months.
South Korea's Foreign Minister, Yun Byung-se, is visiting Cuba to build diplomatic and economic ties with the Caribbean nation. The Foreign Minister's visit is part of a larger effort to normalize relations between the two countries.
Puerto Rico plans to open a commercial office in Cuba to help promote trade and investment between the two Caribbean islands.
UK-based Hive Energy has won a contract to build a 50MW solar park for Cuba's Union Electrica de Cuba (UNE).
Cuban Vice President Miguel Diaz-Canel is in Japan for meetings with Japanese Foreign Minister Fumio Kishida. Mr. Diaz-Canel's visit comes amid a renewed push from Cuba to court investment and to strengthen economic cooperation with major economic powers like Japan.
On Tuesday, the Cuban Government announced that it plans to legalize small and medium size private businesses. The move is seen as a considerable step forward and one which would provide the impetus for economic expansion.
Cuba and Switzerland have agreed to restructure the island nations overdue debt.
The agreement was signed on behalf of Cuba by Ricardo Cabrisas Ruiz, a Vice President of the Council of Ministers and Switzerland's Ambassador to Cuba, Krauer Muller. The deal is part of the implementation of an agreement between Cuba and the Ad-Hoc Group of the creditor countries in the Paris Club.
Caterpillar's CEO, Doug Oberhelman will lead a delegation of company executives and representatives from RIMCO, the dealer chosen to service Cuba, to the island nation this week.
T-Mobile USA has signed a roaming and interconnection agreement with Cuba's Empresa de Telecomunicaciones de Cuba or ETECSA.
The Korea Chamber of Commerce and Industry (KCCI) and the Cuba Chamber of Commerce (CCRC) have signed an MOU agreeing to boost partnerships and promote economic cooperation.
Spain and Cuba have signed an agreement to restructure $2.81 billion in debt the Caribbean nation owes.
UK-based Imperial Brands has announced that it intends to return to Cuba through the production of high-end cigars. Additional details are not known at this time.
Jamaica and Cuba will sign an agreement to facilitate multi-destination marketing between the two countries.
Fathom Travel, a wholly owned subsidiary of Carnival Corporation, which focuses on impact travel, has become the first U.S. based cruise line to sail to Cuba since 1978.
British Foreign Secretary, Philip Hammond has arrived in Cuba. His visit marks the first time a UK Foreign Secretary has visited Cuba since 1959.
The Treasury Department's Office of Foreign Assets Control (OFAC) updated its Frequently Asked Questions Related to Cuba in the wake of recent changes. The updated provides substantive guidance on export policy, insurance, educational and humanitarian activities, the leasing of property and U-turn transactions.
Madrid-based Diaz-Bastien Abogados and Miami-Based Carey Rodriguez Milian Gonya have formed a Miami-based Cuba Practice Group.
Cuba's Tourism Minister Manuel Marrero has announced that the island nation intendeds to construct 100,000 new hotel rooms by 2030 due to surging demand following normalizing relations with the United States.
Germany's third largest airline, Condor will begin direct service between Cuba and Germany starting June 4th. Condor will fly Munich to Havana five times a week and Frankfurt to Havana once per week.
ICAP Securities and Derivatives Exchanged listed Leni Gas Cuba (ISDX: CUBA) and sports marketing company Rushmans have formed a 50/50 joint venture to "explore the opportunities available for international entities to participate in the development funding for Cuban Sport."
Vietnamese company, Thai Binh Investment Trading Corporation will begin manufacturing disposable diapers and powdered detergent from factories in the Mariel Special Development Zone. The investment is estimated at $23m according to the company.
The Kuwait Fund for Arab Economic Development (KFAED) has approved a loan of approximately $30m which will finance 34 small-scale hydropower projects in Cuba. The loan represents KFAED's first investment in Cuba.
Maersk, the world's largest shipping company, has announced that it will provide direct service between Cork, Ireland and the Port of Mariel in Cuba.
The Cuban government has lifted its ban on Cubans and Cuban-Americans entering and exiting the country by commercial vessels. The move immediately greenlights Carnival's May 1 cruise to Cuba and opens the door for the expansion of opportunities for cruise lines.
In a document filed with the FCC, AT&T has reinforced its position the regulator should remove the existing nondiscrimination requirements that apply to facilities-based IMTS traffic arrangements on the U.S.-Cuba route.
Richard Jones and Jonathan Castellanos of Dechert LLP examine the prospects and immediate impediments for the commercial real estate industry in Cuba.
The world's third largest transporter of shipping containers, CMA-CGM Log has announced it will start operating from the Mariel Free Trade Zone.
A group of investors and NGOs has announced the formation of 10x10KCuba a competition for Cuban entrepreneurs.
The competition is intended to help drive innovation in Cuba's technology sector by helping the island's programmers and entrepreneurs assimilate into the world's start-up community.